I was talking to my friend who’s a financial advisor the other day. He told me about wanting to convince someone to stay at his firm of about 90 people. In the past two years, they’ve been having labor shortages like everyone else.
He mentioned one of his employees quit his firm to work a government job. The former employee’s new government job is very stable, low intensity, type of work.
The person didn’t want to work in a dynamic environment anymore. It was too much pressure.
My friend asked, “What can you do to avoid this? And inspire people to stay at work?” It was more of a rhetorical question.
The truth is we can’t convince people to do anything, let alone convince them to stay in a job they can’t perform. Another friend experienced a similar situation. He runs a consulting firm and a new employee quit after three months because he felt like he wasn’t successful.
If we can’t convince people to do anything, what should we do instead?
I bought a road bicycle a few weeks ago. I have wanted to get a bike for about a year now to switch up my cardio. But when the time came to spend more on this hobby, my old frugal habits kicked in.
Every time I picked out a bike from the store, I copped out. Not because I didn’t want to ride. I live in The Netherlands and it’s the perfect place to go on long rides. There are bike lanes almost everywhere and car drivers leave you alone when you ride on the road. And biking is less taxing to the joints than running. So it’s a win-win!
Still, I couldn’t help but think it was too expensive. My thinking went something like this:
If I had been born earlier and started my career 15 or 20 years ago — I probably wouldn’t have become a writer. There are many opportunities to succeed today that weren’t available back then.
Back then, being a totally independent writer who earns a good income was mostly impossible. It’s easier to succeed today than in the past. Otherwise, I’d have had to work for magazines and other gatekeepers.
But thanks to today’s technology and the internet, I’m grateful I can do what I do. Me being a minority also doesn’t negatively impact my career as much as it would have 10 or so years ago. (The impact is still significant. But not as bad).
So whenever I hear people talk about how “everything is better in the past,” I could only think: “Maybe for you. But not for everyone.”
How do you know if you’re ready to start investing? Here’s a thought experiment to see if you have the right mindset.
Imagine you’re at a conference and you happen to sit next to the former chairman of the Nasdaq.
He proposes an investment opportunity to you with guaranteed returns of somewhere between 13% to 20%. Would you get in?
If you do, then you’re doing something “natural.” Many people base their decisions on credentials. Well, that guy was Bernie Madoff, and he made that offer to many smart investors. He had all the credentials: