Comments on: Financial freedom is outdated; try optimism instead http://blog.penelopetrunk.com/2006/12/22/financial-freedom-is-a-myth-try-optimism-instead/ Advice at the intersection of work and life Fri, 16 May 2008 03:50:34 +0000 http://wordpress.org/?v=2.3.3 By: Three tips for job hunting, and one good book » Brazen Careerist by Penelope Trunk http://blog.penelopetrunk.com/2006/12/22/financial-freedom-is-a-myth-try-optimism-instead/#comment-146287 Three tips for job hunting, and one good book » Brazen Careerist by Penelope Trunk Thu, 24 Apr 2008 19:18:50 +0000 http://blog.penelopetrunk.com/2006/12/22/financial-freedom-is-a-myth-try-optimism-instead/#comment-146287 [...] whole life instead of those two hours of interviews? People will like you better at work, and your positive outlook will help you to make all your experiences in life [...] […] whole life instead of those two hours of interviews? People will like you better at work, and your positive outlook will help you to make all your experiences in life […]

]]> By: BobSmith http://blog.penelopetrunk.com/2006/12/22/financial-freedom-is-a-myth-try-optimism-instead/#comment-138735 BobSmith Fri, 21 Mar 2008 09:01:21 +0000 http://blog.penelopetrunk.com/2006/12/22/financial-freedom-is-a-myth-try-optimism-instead/#comment-138735 This is very weak thinking that is based upon two false premises: 1. "...the idea of “financial freedom” means freedom from having to do a job you don’t like. But this thinking comes from the baby boomers who felt compelled to climb ladders doing jobs that destroyed their personal life." 2. "Today you can hold out to get a job you love at the beginning of your career." Nonsense. The entire article is based on two assumptions that were created out of thin air. Both are sweeping, false generalizations without any basis whatsoever. Both are remarkably simplistic and naive, and the second is downright pollyannaish. I achieved financial freedom at a relatively young age (51). I can assure you that it has been an incredibly positive, life-changing experience. And you can get there without "destroying your personal life". In fact, the steps one takes to get there generally IMPROVE one's personal life. And you can get there while working in a very meaningful, average paying job that contributes to society, and without any need to "climb ladders". I know, because that's what I did. And the people I know who have achieved financial freedom are among the most highly optimistic people I have ever seen! That's why they were able to achieve financial freedom. The person who wrote this article wouldn't know any of this, of course, because she hasn't achieved financial freedom (which certainly doesn't stop her from claiming to have expertise on the subject). But if you want to learn something about financial freedom, ask someone who has done it. Bottom line: Don't believe a word of this nonsense about financial freedom being outdated or undesirable - or that "optimism" is somehow a replacement for freedom. It is a real contradiction to declare that "optimism" will somehow enable one to embrace the specter of dying at one's desk. What is being peddled as "optimism" is actually defeatism and negativity. There is an incredible world out there for those who have the time to embrace it. Take it from someone who is living it... never underestimate the desirability of financial freedom. This is very weak thinking that is based upon two false premises:

1. “…the idea of “financial freedom” means freedom from having to do a job you don’t like. But this thinking comes from the baby boomers who felt compelled to climb ladders doing jobs that destroyed their personal life.”

2. “Today you can hold out to get a job you love at the beginning of your career.”

Nonsense. The entire article is based on two assumptions that were created out of thin air. Both are sweeping, false generalizations without any basis whatsoever. Both are remarkably simplistic and naive, and the second is downright pollyannaish.

I achieved financial freedom at a relatively young age (51). I can assure you that it has been an incredibly positive, life-changing experience. And you can get there without “destroying your personal life”. In fact, the steps one takes to get there generally IMPROVE one’s personal life. And you can get there while working in a very meaningful, average paying job that contributes to society, and without any need to “climb ladders”. I know, because that’s what I did. And the people I know who have achieved financial freedom are among the most highly optimistic people I have ever seen! That’s why they were able to achieve financial freedom.

The person who wrote this article wouldn’t know any of this, of course, because she hasn’t achieved financial freedom (which certainly doesn’t stop her from claiming to have expertise on the subject). But if you want to learn something about financial freedom, ask someone who has done it.

Bottom line: Don’t believe a word of this nonsense about financial freedom being outdated or undesirable - or that “optimism” is somehow a replacement for freedom. It is a real contradiction to declare that “optimism” will somehow enable one to embrace the specter of dying at one’s desk. What is being peddled as “optimism” is actually defeatism and negativity.

There is an incredible world out there for those who have the time to embrace it. Take it from someone who is living it… never underestimate the desirability of financial freedom.

]]> By: Don’t wait for retirement to live the good life. Do it now. » Brazen Careerist by Penelope Trunk http://blog.penelopetrunk.com/2006/12/22/financial-freedom-is-a-myth-try-optimism-instead/#comment-138727 Don’t wait for retirement to live the good life. Do it now. » Brazen Careerist by Penelope Trunk Thu, 20 Mar 2008 23:47:02 +0000 http://blog.penelopetrunk.com/2006/12/22/financial-freedom-is-a-myth-try-optimism-instead/#comment-138727 [...] In fact, today there’s an intense peer pressure among young people to find the fulfilling dream job right away. This younger generation watched their parents put off their dreams until they paid their dues only to find themselves laid off mid-career, or underfunded for retirement late in their career. So Generation Y is not waiting. [...] […] In fact, today there’s an intense peer pressure among young people to find the fulfilling dream job right away. This younger generation watched their parents put off their dreams until they paid their dues only to find themselves laid off mid-career, or underfunded for retirement late in their career. So Generation Y is not waiting. […]

]]> By: Why am I so Happy?! « The Musings and Insights of a Struggling Member of Generation Y. http://blog.penelopetrunk.com/2006/12/22/financial-freedom-is-a-myth-try-optimism-instead/#comment-137154 Why am I so Happy?! « The Musings and Insights of a Struggling Member of Generation Y. Tue, 04 Mar 2008 22:32:02 +0000 http://blog.penelopetrunk.com/2006/12/22/financial-freedom-is-a-myth-try-optimism-instead/#comment-137154 [...] my money well and definitely try to maintain a healthy bank account but after reading study after study that documents how after obtaining a certain amount of income, money really has no impact on your [...] […] my money well and definitely try to maintain a healthy bank account but after reading study after study that documents how after obtaining a certain amount of income, money really has no impact on your […]

]]> By: Maj http://blog.penelopetrunk.com/2006/12/22/financial-freedom-is-a-myth-try-optimism-instead/#comment-89697 Maj Fri, 15 Jun 2007 01:40:31 +0000 http://blog.penelopetrunk.com/2006/12/22/financial-freedom-is-a-myth-try-optimism-instead/#comment-89697 I had cancer and now I'm living with huge medical bills for the rest of my life! My "good" medical coverage doesn't come close to covering my bills! My New Husband didn't realize ( I was just into remission so I didn't realize the lifetime expense) marrying me meant on HIS CREDIT RATING!!!!!!! My advice is I would have never married him if I knew what my CANCER BILLS would do to his credit rating! I had cancer and now I’m living with huge medical bills for the rest of my life!

My “good” medical coverage doesn’t come close to covering my bills!

My New Husband didn’t realize ( I was just into remission so I didn’t realize the lifetime expense) marrying me meant on HIS CREDIT RATING!!!!!!!

My advice is I would have never married him if I knew what my CANCER BILLS would do to his credit rating!

]]> By: Job-hunt roundup: 7 tips I’ve collected » Brazen Careerist by Penelope Trunk http://blog.penelopetrunk.com/2006/12/22/financial-freedom-is-a-myth-try-optimism-instead/#comment-54562 Job-hunt roundup: 7 tips I’ve collected » Brazen Careerist by Penelope Trunk Mon, 09 Apr 2007 12:09:11 +0000 http://blog.penelopetrunk.com/2006/12/22/financial-freedom-is-a-myth-try-optimism-instead/#comment-54562 [...] The impact of being positive in an interview, and in life, cannot be overestimated. Optimistic people are happier and more fulifilled than the not-so-optimistic. [...] […] The impact of being positive in an interview, and in life, cannot be overestimated. Optimistic people are happier and more fulifilled than the not-so-optimistic. […]

]]> By: JoJo http://blog.penelopetrunk.com/2006/12/22/financial-freedom-is-a-myth-try-optimism-instead/#comment-39098 JoJo Mon, 05 Mar 2007 18:38:09 +0000 http://blog.penelopetrunk.com/2006/12/22/financial-freedom-is-a-myth-try-optimism-instead/#comment-39098 I think I understand where you are coming from - I experienced a similar 'Eureka!' moment when I read 'Die Broke' for the first time. Based on my genetics and family history, I will probably live to be 90 years old. I am now 37, which means that in addition to paying hefty Social Security taxes for current retirees, I am almost guaranteed not to get those benefits myself. If I had the idea I was going to spend the last 30 years of my life not working, and furthermore actually be able to do FUN things during those last 30 years, I'd pretty much be wasting my life right now, working my butt off to try and save up the massive fortune that would require. But I gave up on the idea, and it was a tremendous relief! I quit worrying about saving up so much money for my old age, and although I do live without debt, I am spending my money now and enjoying life - right now. As long as I am willing to live within my means and do something (at least part-time) to earn a paycheck throughout my life, I can relax. I think I understand where you are coming from - I experienced a similar ‘Eureka!’ moment when I read ‘Die Broke’ for the first time.

Based on my genetics and family history, I will probably live to be 90 years old. I am now 37, which means that in addition to paying hefty Social Security taxes for current retirees, I am almost guaranteed not to get those benefits myself. If I had the idea I was going to spend the last 30 years of my life not working, and furthermore actually be able to do FUN things during those last 30 years, I’d pretty much be wasting my life right now, working my butt off to try and save up the massive fortune that would require.

But I gave up on the idea, and it was a tremendous relief! I quit worrying about saving up so much money for my old age, and although I do live without debt, I am spending my money now and enjoying life - right now. As long as I am willing to live within my means and do something (at least part-time) to earn a paycheck throughout my life, I can relax.

]]> By: Robert Ryan http://blog.penelopetrunk.com/2006/12/22/financial-freedom-is-a-myth-try-optimism-instead/#comment-19651 Robert Ryan Mon, 22 Jan 2007 00:05:25 +0000 http://blog.penelopetrunk.com/2006/12/22/financial-freedom-is-a-myth-try-optimism-instead/#comment-19651 Financial freedom means being free from having to work. Your income from Assets cover your expenses. Some people are lucking in they find a job they love. But alot of people out there don't want a boss to tell them when to come in and leave and what time to eat. This is where the term financial freedom comes. I love psychology but I don't want to be a psychologist. I love buddhism, but I do don't want to be a monk and have my entire life dictated to me in a monastary. Basically financial freedom means I don't have to work. I can work on my own if I chose. That's it, it's not complicated. It does not mean you are rich. * * * * * * <I>Hi, Robert.  Thanks for the comment.  I understand what you're saying. What I am trying to say here is that instead thinking in terms of black and white (earning a ton of money or buddhism) you could think of something in between -- maybe working 30 hours a week and doing buddhism at night. In this way, you are getting what you want now, instead of setting up a work-hard-to-benefit-later situation. Penelope </i> Financial freedom means being free from having to work. Your income from Assets cover your expenses. Some people are lucking in they find a job they love. But alot of people out there don’t want a boss to tell them when to come in and leave and what time to eat. This is where the term financial freedom comes. I love psychology but I don’t want to be a psychologist. I love buddhism, but I do don’t want to be a monk and have my entire life dictated to me in a monastary. Basically financial freedom means I don’t have to work. I can work on my own if I chose. That’s it, it’s not complicated. It does not mean you are rich.

* * * * * *

Hi, Robert. 

Thanks for the comment.  I understand what you’re saying.

What I am trying to say here is that instead thinking in terms of black and white (earning a ton of money or buddhism) you could think of something in between — maybe working 30 hours a week and doing buddhism at night. In this way, you are getting what you want now, instead of setting up a work-hard-to-benefit-later situation.

Penelope

]]> By: Having Issues With Your Strawman http://blog.penelopetrunk.com/2006/12/22/financial-freedom-is-a-myth-try-optimism-instead/#comment-14531 Having Issues With Your Strawman Wed, 10 Jan 2007 01:16:52 +0000 http://blog.penelopetrunk.com/2006/12/22/financial-freedom-is-a-myth-try-optimism-instead/#comment-14531 Penelope,you are once again affirming your own choices to the detriment of fairness or reality. Penelope,you are once again affirming your own choices to the detriment of fairness or reality.

]]> By: MyNameIsMatt http://blog.penelopetrunk.com/2006/12/22/financial-freedom-is-a-myth-try-optimism-instead/#comment-8795 MyNameIsMatt Sun, 24 Dec 2006 17:03:42 +0000 http://blog.penelopetrunk.com/2006/12/22/financial-freedom-is-a-myth-try-optimism-instead/#comment-8795 I definitely agree with what you've written, and saying this stuff helps, but the problem goes farther and deeper. I'm a person who's been saying this for some time (and more recently in a blog), but it rarely seems to affect people. Generally, just living that way and telling others that's how you came to be in such a good position has more affect then telling (show don't tell - always good advice), but even that doesn't seem to impact as much as one might like. Your mentality is your greatest determining factor in just about anything including money matters. I think people have such a hard time changing that and becoming optimistic because money issues seem so immediate and optimism is so not now, especially if you're one of those who has trouble paying for essential needs. People breaking the magical $40k mark on the other hand, tend to see those above them, typically baby boomers, who are the "successful" people in their world, and they see workaholics who chase money over family and friends (generalizing as there are exceptions). So, these very comfortable middle classers follow their models, who are also many times their parents. Added to that is a typical drive for better by gen X and gen Y's taught to us by our baby boomer parents. In figuring out what better means we look to those before us, who more than likely got it wrong, which is why they taught us to be different. Striving for better is great, but often misguided. Figuring out how to give a better direction starts with this post on optimism. I definitely agree with what you’ve written, and saying this stuff helps, but the problem goes farther and deeper. I’m a person who’s been saying this for some time (and more recently in a blog), but it rarely seems to affect people. Generally, just living that way and telling others that’s how you came to be in such a good position has more affect then telling (show don’t tell - always good advice), but even that doesn’t seem to impact as much as one might like.

Your mentality is your greatest determining factor in just about anything including money matters. I think people have such a hard time changing that and becoming optimistic because money issues seem so immediate and optimism is so not now, especially if you’re one of those who has trouble paying for essential needs. People breaking the magical $40k mark on the other hand, tend to see those above them, typically baby boomers, who are the “successful” people in their world, and they see workaholics who chase money over family and friends (generalizing as there are exceptions). So, these very comfortable middle classers follow their models, who are also many times their parents.

Added to that is a typical drive for better by gen X and gen Y’s taught to us by our baby boomer parents. In figuring out what better means we look to those before us, who more than likely got it wrong, which is why they taught us to be different. Striving for better is great, but often misguided. Figuring out how to give a better direction starts with this post on optimism.

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