There are many people who long to have so much money that they do not have to do what they hate. What is amusing is that these people are often quite poor, though they may take on debt to maintain the appearance of wealth. An ancient Jewish King once observed, “He who loves pleasure will be poor.” Lasting wealth is found when we identify what we (and our peers) do not like to do, and do it frequently. A good example is common undergraduate starting salaries. One of the most frequent undergraduate degrees is economics or business. Many students assume that because a degree has money in the title, it will bring money when they graduate. What they do not understand is that your service as an employee is a type of price. When the supply of a particular good or service (labor) is high as compared to the supply (available jobs) the price for that service will be low. The price of an employee is their salary.
According to www.study.com, economics majors can expect to make about $40,000 a year. Most students do not opt for challenging majors such as those in engineering and mathematics. Since most do not, the supply of labor in those fields is always low. The demand for experts in scientific fields is generally high. This creates a favorable situation where a chemical engineer can expect to make $70,000 a year. Just as the ancient Jewish proverb predicted, those who choose to suffer in their education and career wind up with more than those who spend their college years at dorm parties.
Being weird or nerdy profits the investor in the long run. Ignore the popular media trends. Focus on the hard facts.
Martin Lustgarten is a citizen of Austria and Venezuela. He is devoted to helping you and your family profit in all their investment decisions. Martin regrets that many people never reach financial peace, and he hopes to change that with his sound investment advice.
Be sure to contact Martin on LinkedIn if you would like to hear more useful tips to grow your wealth. Martin is standing by to counsel those in need of financial help. He looks forward to hearing from you.