Gone Fishin’, Back Soon

July 21, 2008

fishing_ps.jpgYou may have noticed I’ve been absent lately and the few of you who stop by now and again have my sincere apologies. I won’t bore you with my life except to say that a promotion to a new role at work has left me with far less time than I’d like to devote to ToxicKindness.

In addition to my day job, I’ve undertaken a new venture. Basically, I’ve realized that I don’t really enjoy what I do for a living. I’m good at it. I have a talent for working with people and I sincerely enjoy helping people. But I long ago stopped enjoying the field of work I’m in.

Join the club, right? Who doesn’t get fed up with their jobs. I agree. Only, in my own case, I’d like to at least take a shot at doing something about it and maybe help a few people out of their own career misery in the process. And, no, I don’t mean by finding yet another job doing more of the same elsewhere.

When you bottom line it, the companies we work for pay us less than we are worth. That’s fine. They deserve a profit, after all. They assume the risk of owning and running a company. They assume the expense of leasing office space. I’m ok with them getting their bonus. I’m not ok with the wholly imbalanced level of things in my particular case, though. There’s an imbalance in the world that keeps growing. The Haves keep getting more and the Have Nots keep finding themselves with less. Solution? Become a Have who sincerely wants to benefit the Have Nots.

I was researching consulting companies in the US and learned that a technology or financial consulting company paying an employee $50/hour is likely billing them out to clients for between $250-350/hour. Now, that employee probably doesn’t mind much if they don’t think about it. $50/hour is great money! But when you do the math and realize that she is worth 5 to 7 times what that company is willing to pay her, it deflates that bubble of satisfaction a bit, doesn’t it? And, no, that’s not my salary.

I decided my time is more valuable if applied to working for ME than it is when spent working for somebody else. I’ve also decided there are plenty ways to earn money out there and the internet is a resource that has made these options more attainable to your average person than ever before.

I further decided that it would be fun to try out different methods of earning money (on and offline) and learning from mistakes and experience (I love a good mistake now and again because that’s when you really learn things). Finally, I found myself grinning at the thought of how great it would be if my experiences could translate into learning opportunities for others. Wouldn’t it be incredible if something I tried, wrote about and explained in detail to others gave somebody I’d never met the opportunity to change their lives for the better?

If I earn a few extra dollars from my efforts, it’ll have been a fun experience. If I wind up earning a living from my efforts, it will have been a life changing series of events. If I help others accomplish the same along the way, I’ll feel my life has had a purpose beyond fixing somebody’s network a thousand miles away (yes I know the guy with the network problem is glad to have me around but that’s just not the legacy I want to leave behind).

I love helping people out. It’s just the best feeling in the world when you know you’ve changed somebody’s day for the better and that they are now likely paying the same forward. I enjoy it when I save an office, a business unit or even just a single person from some electronic hell they’ve found themselves in. But what if I could help a financially struggling family put a few extra meals on their table or to buy some extra toys for their kids? What if I could help a retiree who didn’t have enough saved in retirement to find a way to bring in an extra $20, $80, $500 or $5000 a month? What if somebody applies what I learn, strikes it rich and then feels he can finally afford to really make a difference with his favorite charity?

Money does not buy happiness. But to deny it is a vital component of modern living is to live in a dream world. When society has reached the point in which even WATER costs money, you know that the coin of the realm has been irrevocably interwoven into our lives.

So that’s what I’ve been up to lately, folks - building a new blog titled Self Employed or Bust with the objective in mind of finding my own financial independence and helping others do the same along the way. No, I’m not selling anything there. Every bit of advice will be offered free of charge and my earnings will only come from ad revenue and reviews (of things like books on the subject of finance). Maybe it’ll succeed, maybe it’ll flop. Either way, it will have been a worthwhile effort with some valuable lessons gained along the way and the potential to have helped others.

And if I make it… if my dreams come true and the hard work pays off, I hope to leave a trail of equally rewarded people along the way. All of them better off because I got a little too fed up with my job. Now that’s what I call a legacy.

But don’t worry, this isn’t goodbye. If anything it’s, “hi, I haven’t forgotten about ToxicKindness or the friends I’ve made here and I’ll be back more often as the ball gets rolling on this other thing.” So check back soon for more of my opinionated take on what a little love for others can do for the world. I’ll have more of it to spread around soon.

Categories: business.

Tags: , , , , , , , ,

Kids and Money

March 29, 2008

When it comes to spreading kindness, there’s no better place to start than with your own children. Instilling a healthy sense of right and wrong in your kids at an early age means they’re likely to continue those habits and share the inspiration with others into their adulthood. I’ll save a deeper discussion on value building for another time but there’s a good reason why I’m equating money with kindness - philanthropy. Wealthy people benefit poor people through their charitable contributions and the creation of jobs. The problem, of course, is becoming wealthy enough to benefit anybody.

In hindsight, I’m completely baffled by the lack of monetary education I received growing up. When I reflect on my time in school I can’t help but wonder why nobody ever invested the time to teach me about dollar cost averaging, IRAs or the magic of compounding interest. I find myself wondering where I’d be today if somebody had taken the time to make finances and investing entertaining. The most I received (and many of you can likely relate) is a constant reminder that money doesn’t grow on trees. Now imagine if, instead of brow-beating us with negative commentary with no real tangible learning value, somebody had taken the time to use positive lessons to teach us the value of a dollar. A modest savings challenge presented by a parent or teacher would have meant one heck of a head start on retirement today. Why not give your kids a head start and empower them with some lessons that will truly benefit them - and others by extension - down the road?

A fun example would be to point out that average retirement age when they grow up will likely be in the 70s. Then explain to them that if they invested just $5/week earning around 10% for 40 years, they’d end up with $506,325.88 on their $41,600.00 investment. You can go play with Money Chimp’s compound interest calculator and plug in your own numbers if you like. If they’re excited enough by the $5 per week, make it more exciting by offering to match whatever they save at 25-100% like a 401k (further building on their financial maturity and preparing them for life in the working world.)  Then plug in the new numbers and watch their eyes light up. The point is, they are learning about money and investing. The more fun it is, the more successful they are likely to be.

Whoever said that money is the root of all evil likely didn’t have much of it or lost a lot of it. I’ll also bet the extent of their monetary education involved their father reminding them over and over again that he wasn’t made of money. It is a kindness to ensure your child’s financial independence and, since you won’t be around forever, the best you can do by your child is to make sure they will be able to take care of themselves without you. A child with a good understanding of the value of money and what it takes to make it is more likely to be sensible about his spending and saving. More importantly, he’ll be far better positioned to help others.

Categories: Values and Ethics.

Tags: , , , , , ,

Oprah’s Big Give

March 12, 2008

handout_web.gifOk, I’m a fairly typical guy so I haven’t watched more of Oprah’s Big Give than my wife forced me to watch (10 minute’s worth) before stumbling off in my loincloth, club hefted over my shoulder, to scratch myself and resume my quest for fire. Ogg cook meat now. But I did get the post-show highlights from my wife and browsed some articles about it and I’m a little annoyed at the cynicism rampant in the media today.

Several stories I read were written by authors who seemingly went out of their way to devalue the premise of the show by pointing to the convenient access to corporate sponsorship Oprah’s team of do-gooders enjoyed. “Hey, it isn’t like it’s coming out of her pocket,” they implied, “the tab is being picked up by insert-corporate-sponsor-here!” They suggested (without having the testicular fortitude to come right out and clearly state) that Oprah’s generosity is somehow less deserving of praise given the commercial revenue the show surely generated.

I’m a simple person and my feeling is this… how it happens doesn’t matter as long as nobody gets hurt. Ok, Oprah may not be dipping into her own personal savings account to pay out the prize, but she is giving her time and her celebrity power to the cause. What’s that time worth? Salary.com has a cool salary timer that allows you to compare your real-time earnings against the rich and famous. I won’t tell you how my income from my day job stacked up but I will confess to feeling a little emasculated after running the comparison. Go here to try Salary.com’s Celebrity Salary Comparison tool for yourself. The site estimates Oprah’s hourly earnings at $111,500. I repeat…, hourly.  In the time it has taken me to write this sentence she has earned over $400. To put that further into perspective, if you were paid $100,000.00 per year, in the time it would take you to earn enough to buy one McDonald’s Big Mac, Oprah would have earned enough to buy 2238 (according to Salary.com’s Burg-o-meter). Now apply that to the amount of time she personally invested in Oprah’s Big Give. Think of everything that goes into a production like Oprah’s Big Give

  • Conceptualization
  • Meetings
  • Scripting/Writing
  • Travel
  • Sponsorship Solicitation
  • Interviews and Research
  • Filming
  • A random assortment of other things I know nothing about

Add that all up and how many hours do you think she’s given? Yes, television is a long hall full of smoke and mirrors but that doesn’t change the fact that Oprah has likely given tens of MILLIONS to this project in her valuable time alone.

Say what you will about Oprah. I know it’s popular to slam the successful, but, as a very insightful friend who runs thaiphoonblog.com once told me, opinion cannot be substituted for fact. Regardless of where the actual prize money originates or how much her star power served to influence the corporate sponsors who are really shelling out the prize, Oprah is giving BIG to those to whom she has no obligation beyond her own kindness. Being wealthy is the just reward her compassion and dedication to her craft has earned. Rather than pursuing the popular American pastime of hunting for the flaws in anybody so brazen as to be more successful than average, perhaps we should be content that there’s at least one person out there trying to do good with their success.

Categories: Charity.

Tags: , , ,