Your first big break?

[kcowan]

My grade 8 teacher motivated me and I became a A student after 7 years of Cs. That resulted in streaming into the brainy group where I had real competition and ended up with the prize for highest math marks in the school upon graduation.

Got accepted in the air force reserve that help pay for university. Earned a Ford Foundation Fellowship for graduate work. Went back and thanked the Grade 8 teacher after getting my Masters. (Also no wars so no call-up.)

 

[Lukeee]

My grade 8 teacher motivated me and I became a A student after 7 years of Cs. That resulted in streaming into the brainy group where I had real competition and ended up with the prize for highest math marks in the school upon graduation.

Got accepted in the air force reserve that help pay for university. Earned a Ford Foundation Fellowship for graduate work. Went back and thanked the Grade 8 teacher after getting my Masters. (Also no wars so no call-up.)

What was the defining thing(s) the teacher did that made you do the 180 degree turn?

 

[pb4uski]

No particularly big breaks, but some smaller ones.

Worked for family business as all around handyman the last two years of high school and learned to do a lot of different things... but more importantly it gave me confidence that if I put my mind to doing something that I could figure out how to do things.

I vividly recall a conversation with dad where I said that I was thinking of not attending college and becoming a mechanic since I sort of liked swinging wrenches... he make it crystal clear that his son was not going to be a grease-monkey and that I needed to rethink my plans.

A summer job between my freshman and sophmore college years where I had to work hard and sweat my a$$ off for minimum wages made me appreciate the opportunity that I had to attend college... from then on I was Dean's List but my bad first year caused me to fall short of graduating with honors by 0.0025.

My parents having the ability to pay for my tuition and room and board so I graduated college debt-free.... I has a small stipend for books and living expenses the first year but funded those on my own for the last 3 years.

My first review as a full-time employee... managing partner told me that they though that I was a smart young guy but that I wasn't applying myself worth a lick and that in 6 months they would either promote me or kick my a$$ out the door. I was having a great time and partyng a lot... that talk was the kick in the a$$ that I needed... I was promoted 4 months later...... As an aside, I later left the firm on good terms and about 8 years later that same managing partner joined the board of directors of my then-current employer.

Meeting up with DW at our 5th HS class reunion

Learning to "pay myself first" and save and invest in equities.

A couple bad experiences with debt in my early 20s that took a while to work myself out of... taught me to avoid credit card debt early and it has been a big benefit to our finances.

 

[nash031]

What was YOUR big break?

First big financial gain was purchase and sale of my first house. $0 down VA loan, probably put about $30,000 into it in mortgage PITI, but took away more than $60,000 after the sale two years later. Just under 50% ROI year over year. Not bad. (That said, that money went straight to a downpayment on the next house where I lost most of that gain, so over 4 years between two properties I broke even.) My real first break would've been taking that $60,000 and investing it in AAPL... thought about it, then didn't.

Similarly, being able to buy our current home in 2011 when the market was near bottom, and now having sold it to move is going to be another good financial move assuming we weather whatever impending real estate doom is coming.

The seminal financial wake up moment, as I've mentioned before, was my father's diagnosis with cancer two years after he retired. He died 4.5 years after retirement. I'm not working until I'm 77. Savings rate went from 15% to more than 50%, and I'm now in a situation where I expect to be FI in less than a year (depending on our new mortgage payment!).

 

[pb4uski]

Actually, now that I think of it there was one big break... sort of.... when I was in my early 40s the industry that I was working in was subject of a big accounting issue... this issue first broke during the year that our Chairman & CEO was the president of an industry group.... since I was the company's chief accountant he dragged me into it to help... I ended up serving on an AICPA Task Force that developed accounting standards for the issue for a few years as a result was then asked to serve on a few different industry committees in my field... when I later decided to leave the company I ended up working for one of my colleagues on that AICPA Task Force.

If that issue had broke at a different time then I would not have been dragged into it and my path would probably have been very different.

 

[Jerry1]

Plenty of breaks along the way, but since this is a financial focused forum, I’ll go with the thing that did me the most good financially and allowed me to retire early. Through a chain of events, I got to the level of director at our company. There’s a very significant difference between being a manager and making it to director. My break was that as a manager, my boss, a director, was chosen to head up another project in the company and they allowed the position to be back filled. While I was not the VP’s first choice, we had a good relationship and his first choice, someone he knew from outside the company, declined. After that, I got the offer and was not too proud to take it. It worked out great financially and I enjoyed the experience even though I’ve never been able to say that I “loved” my job.

 

[sengsational]

I already posted the 'life big break', but from a financial transaction perspective, I got lucky with houses. My first house, I bought when single, so picked a rough but promising neighborhood with a 15 minute commute to midtown Atlanta, where I worked. Soft market when I moved, so rented it. The neighborhood transformed and I sold for over twice what I paid. Those proceeds funded 529 accounts.


The other lucky break started as a compassion effort... bought a house in a 55+ community from my aunt, who was about to default on her mortgages. She lived there a while paying whatever she could afford, and way below market rent. She went to assisted living and I rented out that house. A court case changed the neighborhood so kids could live there. Great school district, so again, house doubled in value and I sold.



Like my dad used to say, I'd rather be lucky than good, lol!

 

[Fedup]

First big break was bought a large house in Silicon Valley and it doubled within a year. We couldn’t believe our luck. We never had to pinch pennies after that, lol.

 

[aja8888]

I don't much sympathy for anyone who did a lousy job of picking their parents and grandparents.

Next time around I'll try to do a better job of picking!

 

[calmloki]

Picked strawberries and beans and sweated and made pocket change but didn't really learn anything. My parents wanted to raise Hereford cattle and kids in the country; Hudspeth Land and Livestock had a herd auction and the folks borrowed the $115 I had earned to add to the purse for auction time. I got a calf, which grew. Started going out with them to potential ranches and that took. I became a property dreamer and schemer. Visiting places that were way outside our families ability to buy opened my eyes - my big break was to be opened to dreaming about how to accomplish something.

 

[pb4uski]

First big break was bought a large house in Silicon Valley and it doubled within a year. We couldn’t believe our luck. We never had to pinch pennies after that, lol.

We had a couple of those... our first house almost doubled in the two years that we were there.... we moved from a HCOL area to a LCOL area (at least in terms of housing) and made out well... we invested the excess over 20% down that we needed for the next house rather than have a lower mortgage.... then later bought a lake lot that almost doubled in two years when we sold it after our plans changed... invested the profits from that transaction too. The house we lived in for 25 years we sold for about what we had into it considering the extensive improvements that we made. Have yet to lose money on a property but the house I am sitting in right now is only worth close to what have into it.

 

[Cobra9777]

I never had a "big break" along the lines of the OP. My parents paid about $1500 toward my undergrad tuition, which was probably more than they could afford. The rest came from working and learning to manage money, no matter how little I made. I worked at restaurants throughout college, including 4 years of grad school in two different disciplines.

Closest thing to a "big break" I can think of is the fact that my career was taking off at Megacorp at the same time they implemented a more differentiated approach to compensation, including large bonuses and stock options for top performers, even those like me at somewhat lower-level positions. I was on the receiving end of this "differentiated comp" from the mid 1990s onward. There were set-backs along the way, like the dot-com disaster, which sent a huge block of options underwater... never to recover. But the grants kept coming and, in the later years, option exercises and RSUs helped to build up our taxable account very quickly. This funded college for our two kids, plus it enabled ER at 52, with no dependence on SS or tax-deferred funds until 70.

So yeah... I'd say that was a "big break." I went to work at Megacorp because it was interesting work with interesting people that took me to some very interesting places around the world. I really had no expectation that my comp would include big bonuses and stock options after only six years. The compensation philosophy was much different when I first joined the company in the late 1980s.

 

[lucky penny]

Life-changing break was a scholarship that took me away from home to a top college. It happened because of my 10th grade English teacher, a Yale graduate who inspired me to aim high and made me believe anything was possible. That education and experience opened many, many doors and put me on a path to a life that suits me well.

 

[ugeauxgirl]

I'm pretty sure I was an awful teenager- not particularly bad, I was just fiercely independent and desperate to be on my own. I made the mistake of coming home my first summer of college and barely survived it. Spring of my Sophomore year I picked up a flier in the hall- I'm sure it said something like "see new places, earn money, learn a life skill" that sort of thing. They were recruiting kids to sell educational books and Bibles door to door. Anything was better than spending another summer with mom and dad. I signed up. My parents were horrified and flatly refused to let me go. I went anyway. In the 3 summers I did that job, I learned personal skills (I'm an analyst really, and hadn't a clue how do deal with people effectively before this job). I also got un-sheltered. I grew up upper middle class in a small town, went to private school, and never really saw people who thought or lived differently than I did. Also I earned enough to put myself through graduate school (parental money ran out at bachelors degree).

Recently the guy who hired me at the firm where I have worked for 21 years retired, and I called to thank him for giving me a chance. After talking to me for a few minutes, he commented that I must have had a fantastic interview because he didn't ordinarily hire 24 year olds with no experience. I told him I didn't exactly have no experience- I told him about selling books. That's why he hired me, he said- he hired every book kid he could find.

Break 2 came when every time I had a bad day, I upped my 401K contribution percentage. Since I am an FA and bad days came with market declines, I bought low a lot.

 

[swakyaby]

My big break was being accepted to medical school. After that, my future was clear.

 

[Rustward]

My mother died in 1976 when I was 20 years old and I was in college. Until then I was fully supported by family money. I do realize that many people were not supported by their parents at all.

My father was disabled and had no say in anything.

Older siblings (all of them were older and had their bachelors degrees + tuition + room and board fully paid for by our parents) . . .

After my mothers death the older siblings cut me off from all financial support from the family for no apparent reason. I never knew why. It fooking sucked. 3.3 GPA.

Relationships with the older siblings are still sometimes strained.

I got some student loans and a work study job writing Cobol code for $2.35/hr 15 hours per week. I took the "job" seriously and after a few months my supervisor (Charles) called me into his office late on a Friday afternon.

BIG BREAK:

Charles: "You know, Rusty, I am here just to get an MBA and I graduate next week and I have a job waiting at McAuto in St Louis."

Rusty: "That's very good, Charles. I am happy for you, but what does that mean for me?"

Charles: "They have asked me to select my replacement. So far we have only one applicant, and he would not be our first choice. The opening closes today. If you are interested, go to the employment office right now and make an application. (remember employment offices?) See you Monday morning."

It was 1976 and the job paid $1000/month. I did have to work extra hours a few times per year as this was at a university, and the extra hours were sometimes required for processing grades and registration four times per year as the school was on the quarter system.

I absolutely loved the job. This was the best thing that could have happened for me at the time. I was very fortunate, and I will never forget it.

BTW: Cobol was not my lifetime language. Assembler language is my first choice.


Just a few months later the pay was raised to $1200/ month. This is just what the state paid.

 

[atmsmshr]

I've never gotten a break in my life. I worked hard to be born a white American male of above average height, to a middle class couple adjacent to a well to do suburb with excellent schools. I don't much sympathy for anyone who did a lousy job of picking their parents and grandparents.

+1.

I'll add that my 20 year old mother and 23 year old father agreed to marry when 'they' became pregnant. They remain the most wonderful married couple that I know.


Edit - other than DW and I.


Reason for editing - DW read this post.

 

[HillCountry]

My first big change of life was 24 years ago, when I came to USA, with broken English and $500 in my pocket.

 

[scrabbler1]

I thought of two more things which were good breaks for me.


One was while I was in high school. In my honors math class, the math teacher had a guest speaker from The College of Insurance, a small school in lower Manhattan which specialized in the actuarial field including the series of exams needed to gain that certification. This planted an early seed in my mind for later on when I was trying to choose a field to pursue in my job hunting at the end of my college years. While it wasn't my first choice for looking for a job (it was my second choice), after my top job prospect didn't pan out (they actually wanted someone with a graduate degree even though they were interviewing some with only a 4-year degree), I fell back to my second choice which included the one job offer I got (through another good break I described in an earlier post). But I do credit that early exposure to the actuarial field back in high school to making me aware of that attractive profession.


And another break I had actually began as a bad break which I turned into a good one, ironically. This one was in college, in my junior year. I was majoring in comp sci in the business school but felt I had gotten ripped off on a course grade in a comp sci course, one which kept me off Dean's List. That, combined with the course curriculum for a comp sci course in the following semester turned me off from majoring in comp sci any more. I switched to Economics and aced all the econ courses, later winning an award for top econ student in the business school's graduating class. Having that background along with a strong math and computer background (from my former major), the equivalent of a double-minor, helped make me more attractive to my future employer, the one I alluded to earlier in this post and in a previous one.


So, while I was pretty pissed off at getting that lower course grade and not getting on Dean's List, it turned out to be a huge blessing in disguise because of how it changed my academic direction the rest of my college years. And I did make the Dean's List again and barely ended up graduating Magna Cum Laude, thanks to acing those econ courses.

 

[sengsational]

One was while I was in high school. In my honors math class, the math teacher had a guest speaker from The College of Insurance...

The teacher that generated a spark.... That could be a thread on it's own.

I was passing classes in high school, but not but not by much. I had a physics teacher. I didn't know it at the time, but he was ex-IBM engineer and quit because I loved to teach. From barely passing in High School to an University engineering degree with honors. I have to credit him for lighting the fire. Thank you Mr. Sanderson!

 

[akidagain2018]

Interesting reads!

I worked from about 14 years old and had manual labor jobs but I consider them breaks. The big break was when I got a job as a young man and worked my way up and spent 35 years with the same company.

As far as mom and dad paying for college that could not of happened. LOL We were poor as far a money went but we were rich in many other way in life. I paid my way through, every step of the way and not one regret doing so. My mom would give me a 20 spot once in a while when i was home to help with gas.

I too started working at age 14. Scraping plates in the dishroom. Paid my way through college, no $20s at home for gas though, but sleep and good food on breaks. I always managed to have the money I needed. Biggest early break was a referral from my Professor of Advanced __________ (my profession today) to a gentleman who managed an office of the biggest of firms in my (current) field, who also rented a summer cottage from my Professor. Got the job!, and it all followed from there.

 

[JoeWras]

I too started working at age 14...

Before 14, I did some pet sitting odd jobs for neighbors. But there was nothing like working for a stranger and getting a paycheck, well, actually cash for the first few months (don't tell anyone.) After this proof period, I was made official.

As mentioned above, this was my age of a big break. It was a crap job, but the one I learned the most from. And, the owner and bosses moved me up into the office later. I hope other kids are getting this kind of break today.

 

[Lukeee]

+1.

I'll add that my 20 year old mother and 23 year old father agreed to marry when 'they' became pregnant. They remain the most wonderful married couple that I know.


Edit - other than DW and I.


Reason for editing - DW read this post.

 

[Clone]

My brother and I were doing the summer work on the family farm which was about 60 miles away from where the family had moved when Dad bought into a business. We had a piece of ground, about 30 acres, that was a small pasture. No cattle on the farm at that point.

Asked Dad is we could plow that up and plant something on it. He said that we could, and we could have anything we made from it. We planted flax on it, because it was getting late in the spring. The old variety common flax was not available, only some really expensive new stuff. Dad was upset because the seed was about twice the money as the old variety.

During that summer, it was discovered that this new variety was resistant to a disease that was very harmful to the old variety. Suddenly there was a huge demand, and our 30 acres was qualified to be sold for seed. We had a good crop. The money from that crop is what paid for my siblings and myself to go to college.

Made it through college. 35 years later was able to step out the door with a pension, retirement medical plan, and a reasonably flush 401k. As I think about it, that influx of money to pay the college bills probably also eased the cash flow for my parents such that they could accelerate buying the business.

 

[kgtest]

+1.

I'll add that my 20 year old mother and 23 year old father agreed to marry when 'they' became pregnant. They remain the most wonderful married couple that I know.


Edit - other than DW and I.


Reason for editing - DW read this post.

HAHA! I somehow picture a little arm punch from your DW after she read this. Made me laugh.

Great stories folks. The more I got to thinking I swear half of my jobs came from friends referrals. I got my first paper route after my mom referred me to the ad. I got my first movie theater job after my sister got me hired. Got my first cashier/cart boy job after my other sister gave me a strong recommendation. Dad nudged me to military and I scored well on the ASFAB. Framed some homes before the housing crash, friends dad owned the business. Same friend told me about another friend who needed help installing windows. Worked that before dad again said there was a better opportunity at another window company.



DW pushed me into IT, my back was really hurting and I'm glad she did. I owe that to some keen internal megaCorp recruiter that made a less than perfect match, but I showed up and got the job.


After that my experience aligned nicely to all the other jobs. Seem to have my pick of opportunities these days but UE is also historically low lol.


But I'm not sure I would be in IT if my ole man had never brought home that Commodore 64 back in the 80s. I was addicted to that thing as a young boy.

LOAD "*" ,8,1

Thanks for sharing everyone, humbled by all of your hard work and experiences!