retire@40
Thinks s/he gets paid by the post
- Joined
- Feb 16, 2004
- Messages
- 2,670
My son asked me for my advice on how he should make money during his life. Do I tell him to be a doctor, lawyer, etc? Or, do I advise him to take a chance and start a business?
I know it's ultimately something he has to decide for himself and enjoy, but as his most trusted advisor, what should I recommend?
I think the easy way out for me would be to direct him toward the path of least risk and highest benefit such as becoming an MD. Yet part of me wants him to take a calculated risk and start a business or find a way of making money without having to depend on getting paid an hourly rate, thus limiting his earning capacity.
Most of the successful people I know have become rich from their own business or investing on real estate. Yet I also know many people that have tried this and failed miserably.
I think the goal is to find something to earn money that does not depend on your own work hours. In a way I'm thinking of what I would do if I could be a teen again knowing what I know now.
I know it's ultimately something he has to decide for himself and enjoy, but as his most trusted advisor, what should I recommend?
I think the easy way out for me would be to direct him toward the path of least risk and highest benefit such as becoming an MD. Yet part of me wants him to take a calculated risk and start a business or find a way of making money without having to depend on getting paid an hourly rate, thus limiting his earning capacity.
Most of the successful people I know have become rich from their own business or investing on real estate. Yet I also know many people that have tried this and failed miserably.
I think the goal is to find something to earn money that does not depend on your own work hours. In a way I'm thinking of what I would do if I could be a teen again knowing what I know now.