Why You Should Pursue Your Passion

why you pursue your passion career
Photo by Wesley Carvalho on Pexels.com

I saw a FIRE blogger mocking the idea of following one’s passion. Instead, the standard FIRE plan is to find a lucrative job, save money, and then retire early to THEN focus on one’s passion. And granted, I’m a lawyer, and I’m on a mini-retirement so it would seem like I would agree with that path.

But I don’t. Here are several reasons why I think you should pursue your passion.

Continue reading “Why You Should Pursue Your Passion”

What Happened When I Retired for a Year at 35

what happened when I retired for a year
Photo by Sebastian Voortman on Pexels.com

On February 4, 2019, I quit my job. February 19 was my last day at work, and February 20 was my first day of freedom. On this one year anniversary, I’d like to look back at what happened the year that I retired at 35.

The “Accomplishments”

I read another blogger’s early retirement post and he could quantify a great deal of accomplishments. And I guess I can rattle off things I’ve done, but that seems like running a different kind of rat race. 

I kept busy on my time off. I’ve traveled a bit – to L.A., New York, San Francisco, Redmond, Capetown, Johannesburg (South Africa), Lisbon, Porto, and Sintra (Portugal). This is what I would say if people asked me what I had done with the year. Travel seems to be the only “real” accomplishment worth noting when you’re retired. And to be fair, South Africa was eye-opening, especially after listening to Born a Crime: Stories from a South African Childhood. But to me, the really interesting changes were when I was home. 

What I’m focusing on in this post is not necessarily my choices during the year, but the repercussions. I often would made one choice that led to another choice and all those choices led to a different trajectory. It’s like when I started this blog, then I started Twitter to promote it, then I met friends, and two of those friends were the duo that started Chain of Wealth, who will figure significantly in some of these adventures. You just never know where things are going to take you. And the oddest part of any journey may be where you end up. 

Continue reading “What Happened When I Retired for a Year at 35”

Why College Is Often Not Worth the Cost

why college is often not worth the cost Photo by Pixabay on Pexels.com
Most articles addressing whether college is worth the cost inexplicably conclude “of course!” But this doesn’t make sense based on basic economic facts – actually college is often NOT worth the cost.
Costs for four years in college average between $44,000-165,000 (public to private schools) JUST FOR TUITION.  Adding minimum living costs, this could easily balloon to $84,000-$205,000 at 5% interest. The median entry-level salary for a college graduate is $48,000. Even entry-level salaries at the high end are $71,000 (pre-tax).
The best case scenario (assuming no financial aid) is spending $84,000 and four years of hard work on college, likely not learning relevant job skills, in order to qualify for, apply for, and get hired to work a job that will take you, 40+ hours a week for 52 weeks in order to earn $50,000 after taxes to pay off your loans (and you might not even like this job). The worst case scenario is that you spend $200k in loans to attend college and end up at a job you could have gotten straight out of high school.
Finally, people have a lot of fond memories for their colleges, clouding their rational judgment. But colleges do not care about you.
If ever there was a sign that no matter how much money you give colleges, they do not care one lick about you, your health, your career, or your life, it’s how they treated their own students during the pandemic. Because of the COVID-19 Pandemic – students are questioning the value of a college education more now than ever before. College students say that online classes aren’t worth the high cost of college. And colleges, for their part, do not care. They unceremoniously kicked their students out of their dorm rooms – rooms that these students paid for in advance, forcing students who may have contracted coronavirus over spring break to travel in crowded airplanes and trains during a pandemic likely infecting themselves and the rest of the nation including their potentially elderly parents or grandparents, and refused to give exemptions to many students who had nowhere to go. (Also how embarrassing to be a student who has to explain a bad family situation to a random administrator just so she won’t be homeless).
I know people are going to disagree with me, but kicking college students out of their dorms is no different than kicking people out of their apartments. It’s not that the colleges cared about their students’ safety – the colleges just wanted to avoid liability.
Even with millions or billions in their endowment funds and hundreds of six-figure salaried administrators, college students were forced to figure their way home by themselves. College students and alumni raised money to help, which is wonderfully heartwarming, but good god schools, have you no shame?
Going to college could be the single worst financial decision of your life, and here I will tell you why.

Continue reading “Why College Is Often Not Worth the Cost”

6 Things Introverts Get Wrong About Extroverts (And Why It Matters)

6 things introverts get wrong about extroverts
Photo by Artem Beliaikin on Pexels.com

I wish I could counter Susan Cain’s groundbreaking book about introverts, Quiet, with one about extroverts, and I’d call it, Also Quiet.
You may be thinking that if a book about introverts is called, Quiet, then a book about extroverts should be called “Loud.” But as much as Ms. Cain’s book dispels some myths about introverts, it creates quite a few misconceptions about extroverts. Here I’ve written a few things that introverts get wrong about extroverts.

Continue reading “6 Things Introverts Get Wrong About Extroverts (And Why It Matters)”

15 Financial Challenges For Female Attorneys

Personal finance is different for each person, and that’s especially true for women lawyers. Factors like giant student loan debt, no work life balance, lack of financial confidence, the glass ceiling – are just a few things that make navigating finances as a woman attorney different from others.

via GIPHY

Female lawyers face their own unique personal finance challenges. They call it personal finance because the principles are not universal. If you’re a lawyer, you will likely accrue a lot of debt and no earnings while attending law school. It might still be a good decision because you are pursuing the career you want and are potentially setting yourself up for higher earnings. If you take a pay cut so that you can care for your family, that also might be the right financial decision for you, even though you are not saving.

Personal finance looks different for each individual depending on their circumstances and the stages in their lives. You might ask why this site focuses on women lawyers and it’s because female lawyers have different financial circumstances than male lawyers or women in other professions, due to a variety of systemic problems and societal norms. These differences are not necessarily night and day from other people’s experiences, but it’s different enough to warrant different advice. Below I explain some of these differences.

Continue reading “15 Financial Challenges For Female Attorneys”