• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

Wealth Pilgrim

No Money Worries. No Matter What.

Neal Frankle featured in
  • Home
  • Life Insurance
  • Investing
    • Build Strong Investment Building Blocks To Avoid Going Broke In Retirement
    • Systematic Mutual Fund and ETF Investing
    • Stock Market Investing Guide
    • Choosing the Right Investment Brokerage Guide
    • How Bonds Work Guide
    • How Banks Really Work Guide
    • Annuities – What You Need To Know Before You Invest
    • A Beginners Guide To Buying Individual Stocks
    • Create A Pool Of Great Mutual Funds and ETFs To Pick From To Secure Your Retirement
    • ETF and Index Fund Investment Guide
  • Earn More
  • Banking
  • Retirement Planning
    • Retirement Guide
  • Ask Neal a Question
  • Reviews
    • Upgrade Personal Loans Review
    • Lending Club Review
    • Prosper Review
    • Ally Invest TradeKing Review
    • CIT Bank Review
    • LegalZoom Review
    • Lexington Law Review
    • Airbnb Host Review
    • Should You Drive For Uber?
  • Tax
  • Courses
    • Raise Your Credit Score So You Can Buy a House – Free Video Course

When You Should Make Less Money

by Neal Frankle, CFP ®, The article represents the author's opinion. This post may contain affiliate links. Please read our disclosure for more info.

There are times when you should try to make less money. That’s right, when you ask, “Which job is right for me,” money should not be the only consideration. On Monday, a faithful (young) Wealth Pilgrim reader was lamenting the fact that he was stuck in a job he hated. To make matters worse, he wasn’t even well paid. He was worried that he wasn’t able to save for his future. This bothered him a great deal.

Many readers had fantastic ideas on how to help our young Jedi…and I came up with a few ideas of my own. Here’s a two-minute, 20-second video sharing my thoughts.

Am I full of it? Do you agree with my suggestion?

On to exciting posts:

Enjoy!

Small Business Tax Advice

Treat Your Job As If You Won The Lottery!

Do You Have What It Takes to Manage Your Money?

Mindless Money Wasters

Fiscal Sanity Legislation

Kids and Money

Friend’s Credit Card Debt

Financial Filing Systems

Managing Poor Credit Score

Wasting Money on Memories

Wants versus Needs

Auto Refinancing

Raise Credit Limit

What Do You Do?

Unemployment and Motivation

Defining Financial Planning

I Knew I Was Going To Be Rich

3 Ways to Reduce Your Taxes

Marriage and Money – Making it Work

Price of Fame

Allowances for Less than Rich Kids

Financial Lessons from Engineering

Why It’s Frugal to Live in Alaska

Ever Feel Like You Can’t Get Ahead?

The Circle of Life

401k Loan Rules

100 Things Challenge

Should I Refinance My Mortgage?

How I Got $8 Glasses

Life Energy and Money

Procrastinators Unite…Tomorrow

Money Saving Tips

Cut the Clutter

 

Tweet
Pin
Share

Reader Interactions

User Generated Content (UGC) Disclosure: Please note that the opinions of the commenters are not necessarily the opinions of this site.

Comments

  1. Mike says

    March 7, 2010 at 8:33 PM

    Wow! That was a really insightful video and a fresh perspective on young people saving for retirement.

    I would argue that your advice isn’t just for young people but for people of all ages. Investing in yourself is the best thing you can do.

    Reply
  2. Justin says

    March 7, 2010 at 4:56 PM

    This post is about me (and Neal’s new look).

    Neal, as long as you don’t do videos in your birthday suit, I think they are great….and if you do want some birthday suit videos, I think that’s a whole separate blog with a totally different audience…

    I work in internet marketing currently. I am not an expert by any means, but I am comfortable with what I know. I have been actively doing it now for about 2 years, have a BS in marketing, and I know that with the right continued training, it is something I can be great at.

    Right now I am a marketing manager at a power sports dealer. This is the second dealership I have worked at since graduating college, and it is the only paid marketing experience I have outside of consulting and freelance work.

    I know that I am not the right person for power sports. I want out of that industry. However, what I do not know is what industry I want to move to. I think I would like to go to hospitality, but I don’t know for sure, and likely won’t until I try it.

    I like to think I am a bit of a rare breed. I am very tech savvy, love marketing, love internet marketing, but the rare part is that I also love people, customer service and interaction. I don’t want to be the guy who sits in a cubicle all day, as I feel my talents would be wasted doing that.

    I went to school for 5.5 years, graduated with a pretty strong GPA and took WAY more classes then I needed to. I graduated with around 180 units, only need 120 to graduate. My course work was rather diverse so on the educational side I have a very diverse background. However, work experience, not so diverse.

    I am very willing to switch jobs, even take a pay cut to do so, however, despite my education, experience, and desire to change jobs, and work in hospitality to move up the chain, I cannot seem to find an “in.”

    Maybe I should go back to freelance consulting work? Maybe I should keep doing what I am doing? Maybe I should go after hospitality harder? Maybe I should go back to school?

    I don’t know, but I do know that no matter what, I need to stay happy, and right now I am happy to an extent but do not see happiness in the future. That does need to change, and while I don’t know exactly what to do, I do know enough to know that there are a great number of people out there that support me and will help me find my way.

    Reply
  3. Money Funk says

    March 7, 2010 at 8:31 AM

    I think that young 20s spirit is a flexible and viable age to take on more risks with financial choices. I know I did. Course I might have went the wrong way…

    Great huge list of posts. Thank you for including mine. 😀

    Reply
  4. Financial Samurai says

    March 6, 2010 at 5:24 PM

    Neal – I got the trackback. I just hope others did who you mentioned, got the track backs as well.

    Reply
  5. Bucksome Boomer says

    March 6, 2010 at 8:58 AM

    You are right on with this advice. I gave up a higher paying job with little long-term growth for a lower paying job in a entirely new career field and higher potential income 15 years ago.

    It’s paid off as I currently make far more than I would be if I had stayed with the previous career.

    Reply
  6. Indian Thoughts says

    March 5, 2010 at 10:00 PM

    I agree with you totally and I think ur new is look is nice. 🙂

    Reply
  7. Ryan @ Planting Dollars says

    March 5, 2010 at 1:17 PM

    Long term long term long term… good call.

    Thanks for the mention BTW!

    Reply
  8. Credit Card Chaser says

    March 5, 2010 at 10:47 AM

    My personal general opinion is that the younger you are then the more you can (and maybe even should) take some risks. I think it’s important to stay risk averse for certain things like finish up school for example because you then always have a safety net to fall back on but other than that if someone wants to start a business or spend all of their money on a trip exploring the world then I say go for it! Agree?

    Reply
    • Neal@Wealth Pilgrim says

      March 5, 2010 at 3:23 PM

      NOarguement from me. My daughter got into UCLA (twice) but wanted to go the Israeli Army –which she did. Now, she’s 22 and just starting college but it was a great move for her.

      Reply
  9. Paul @ FiscalGeek says

    March 5, 2010 at 10:29 AM

    I might be the wrong person to ask about the suit as my business attire of choice is a t-shirt and a pair of jeans I think I’ll stick to podcasting. I do like that you used the term “square” like you’re Ward Cleaver trying to keep up with the hip youth. Good stuff as always Neal.

    Reply
  10. Financial Samurai says

    March 5, 2010 at 6:27 AM

    Nice glasses Neal, are they new?

    I believe you’re right in that trying to save too much when you’re young might be debilitating since 20 year olds usually make less than 40 year olds. Spending a dollar provides more return then than later when you have many more dollars.

    It’s easier to save when you’re older and making more money, but of course there is a balance.

    I blew A LOT of money in my 20’s…. and if I had saved or invested it, well…. actually who knows, it’s the lost decade right?

    Best, Sam

    Reply
    • Neal@Wealth Pilgrim says

      March 5, 2010 at 6:55 AM

      Well said Sam. No…the glasses haven’t changed. Thanks.

      Reply
      • Financial Samurai says

        March 5, 2010 at 1:55 PM

        Hmmm… new Hermes tie?

        I wonder if your trackback system works. We’ve got a Yakezie Group going, which you are welcome to join (search yakezie i guess). I would like every post that’s been highlighted here to come visit and help promote. It’s the right thing to do, and is the spirit of the Yakezie.

        Reply
        • Neal@Wealth Pilgrim says

          March 6, 2010 at 1:48 PM

          Sammy,

          I am part of Yakezie group. Did you get a trackback to my link to you? How do I fix it if it’s not working? I have no idea…

          Reply
  11. LeanLifeCoach says

    March 5, 2010 at 4:40 AM

    There are times, like when launching a business, that require a change of focus and may require not only ceasing savings but even going into debt but I think the objective should always include positioning yourself for savings. We should never forget it.

    Also, thanks for the recognition in you list of articles… Go Yakezie!

    Reply
  12. Monevator says

    March 5, 2010 at 4:08 AM

    Nah, you’re not full of it – you’re absolutely right. People forget about opportunity cost all the time when talking about start-up businesses or career changes. When you’re young, you’ve very little to lose.

    I think I probably got this balance wrong, and started saving a bit to young. On the hand I’m glad to have the money in the bank!

    As for the suit, you look sharp – but I wonder if it works with the family/people/warmth image I always think of as being Wealth Pilgrim’s forte? Just a thought.

    Reply
    • Neal Frankle says

      March 5, 2010 at 6:24 AM

      I also got this wrong from a very early age. On balance, it’s fine because I ended up loving what I do….but an investment in “self” always pays off.

      Thanks for the feedback on my “James Bond” Pilgrim. I do like to change it up but your point is well taken. Back to sweaters?

      Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Are You Human? * Time limit is exhausted. Please reload CAPTCHA.

Primary Sidebar

Who is Neal Frankle

Neal Frankle

I'm a Certified Financial Planner™ with more than 25 years of experience. I feel very blessed and hope to share my personal financial experience and professional wisdom with readers of WealthPilgrim.
Read More »

Stay Connected

Facebook Twitter YouTube RSS

More Categories

Career Development
College Funding
Credit Cards
Credit Score Fixes
Money and Marriage
Debt Relief
Estate Protection
Property Investment Loans
Small Business Strategies
Spend Less Money

Disclaimer

Wealth Pilgrim is not responsible for and does not endorse any advertising, products or resource available from advertisements on this website. Wealth Pilgrim receives compensation from Google for advertising space on this website, but does not control the advertising selection or content. Please do the appropriate research before participating in any third party offers. The information contained in WealthPilgrim.com is for general information or entertainment purposes only and does not constitute professional financial advice. Please contact an independent financial professional for advice regarding your specific situation. Wealth Pilgrim does not provide investment advisory services and is not a registered investment adviser. Neal may provide advisory services through Wealth Resources Group, a registered investment adviser. Wealth Pilgrim and Wealth Resources Group are affiliated companies. In accordance with FTC guidelines, we state that we have a financial relationship with some of the companies mentioned in this website. This may include receiving payments,access to free products and services for product and service reviews and giveaways. Any references to third party products, rates, or websites are subject to change without notice. We do our best to maintain current information, but due to the rapidly changing environment, some information may have changed since it was published. Please do the appropriate research before participating in any third party offers.


About · Contact · Disclaimer & Privacy policy

Copyright © Wealth Pilgrim 2021 All Rights Reserved