Posted by: fathersez | November 5, 2007

Is our career really our greatest financial asset?

Free Money Finance, says so and argues his views eloquently in Maximizing your greatest asset: Why your career is so important.

FMF has many truths, but I feel that it is not our career but “us” who are our greatest financial asset. A career is just one of the many things that we can do to maximize our financial position.  

Our character, reputation, the knowledge we have, our network, our people skills, our financial prudence, our “brand”, our ability to take calculated risks and our ability to spot opportunities are, in my opinion, possibly far greater financial assets than just our career. 

Focusing just on our career, as the bedrock of our financial future may expose us to the golden handcuffs syndrome. That is, being stuck in a career that we dislike, just because it pays. These handcuffs get tighter as we grow older and our marketability decreases.  

Careers also come with the baggage of “bosses”. It is great to have an inspiring, visionary and people oriented person as your boss. Do we always? Can we always choose our preferred boss? 

Stanley Bing has written a well followed blog on “Crazy Bosses”. See his stories and readers’ feedback on this. 

Most of us start off with a career. My advise to my children and all other employees is that whilst they should add as much value as they possibly can to their employer (we should never, ever bite the hand that feeds us), they should always be on the lookout to add value to their personal brand. Always be vigilant for opportunities to add additional streams to their income without compromising integrity.  

Make the attainment of financial independence your primary financial goal. Then we can choose to pursue our career on our own terms.   

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