July 16, 2007, 2:16 am

Am I Waking Up or Am I Falling Into a Bigger Dream?

by: The Financial Blogger    Category: Miscellaneous
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As you surely notice by now, I love personal finance. If not, I would not bother writing a financial blog! In order to get fresh ideas, I get a book once in a while and go deep into it. I love books as they are leading your mind to other questions and give you a great opportunity to reconsider many schemes that were drawn for us since our very childhood.


As Robert Kiyosaki says in most of his books; “go to school, work hard and get a job with a good salary and job security” might not be the best advice for our generation. While several individuals will say that he is a lunatic and nothing can be btter than a good job in a stable environment, I am willing to read more about this other philosophy. Is working hard will really bring us to wealth? Is being frugal and live below our means will get us rich? It will surely put more money in our pocket but will it really bring us to another financial level?


I am not sure anymore. As most of us, I grew up being told to study hard, work hard and get a stable job. And guess what, I was a good student and I am working in a bank. But my dreams are bigger. I really love my job and my work environment. However, I feel the need to find a sideline project growing inside me. Maybe I could buy a rental property, create a small company or even make money from the internet. Anything to get out of debt and be financially independent.


Having dreams doesn’t mean I’m stupid. I know that I do have a mortgage to pay and I do have to make a decent based salary to meet my financial obligations. However, I am becoming really interested about Robert Kiyosaki and his Rich Dad, Poor Dad series. His books are well written and bring you to another world. It seems to me that he is not living in our day-to-day world. He is more an observer of what is happening to us while he is making millions doing his own business his own way.


While most financial planners (and bloggers!) are saying; diversify, buy bonds, EFT’s and mutual funds, he says: concentrate on what you like and put all your money and effort in it. I don’t know which one is making more sense. I don’t know as my education tells me the financial planners are right but this guy worth more than all Toronto’s financial planners together!


After a while, I am starting to think that concentration for the good reasons might not be a bad idea. My financial thinking evolves years after years and starting this blog was definitely a good step to share more ideas and exchange point of views with others. So I still do not know if I waking up to another world of financial opportunities or if I am falling into a bigger dream of money. One thing is for sure, I will continue to explore both philosophy and take a little bit of each of them. I am curious to see what philosophy do you prefer?

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by: Julien Niquet | July 16th, 2007 (9:13 am)

Start a company when you are young is the best time to do so… Actually, you could probably do both (job + startup).

Read this article.


“what you like” doesn’t necessarily mean financial independence, because the related line of work may pay very little. Say you like books and you open a bookstore – will the low profit margins and competition with Chapters and Amazon allow you to make a comfortable living?

by: The Financial Blogger | July 17th, 2007 (2:31 am)

Julien, thx for the link, pretty intersting!

Hi Luc,
I believe you can make money from anything you like. I actually know somebody who was making 100K + a year with a magazine store. You never know!

OK FB, I just responded to one of these a few days ago:


I even had a follow-up:


Suffice to say that I was thinking of much the same thing that you are. What I bore it down to was actually happiness as the fundamental unit of measurement, not money.

When somebody like Luc gives you a reply with a nebulous word like comfortable, he’s giving you a value judgment. He’s actually saying that he doesn’t believe that a bookstore could give him enough money to live the lifestyle he wants to live. You can talk about 100k+ a year, but that doesn’t really matter b/c 100k+ isn’t “comfortable” to some people 😯 And whenever they run a survey about “comfortable” living, most people think that “comfortable” is whatever salary is one step higher.

I haven’t read Kiyosaki. But based on your interpretation he has the right idea. Do what makes you happy and make money to do more of the things that make you happy. But fundamentally, and foremost, make active decisions on the lifestyle that you want to live.

You don’t have to pay for a mortgage, you just figured that was the way to go. Add a couple of kids to the mix (more lifestyle decisions) and hey that mortgage is probably not a bad idea compared to renting an untenably small apartment. So after making a bunch of lifestyle decisions (or having them made for you :wink:) you end up with a mortgage that needs monthly attention.

If you look at Julien’s link, check out this line from the top:
This is the one time in your life where you can bet the farm without worrying about the consequences.. That’s only “true” b/c the average person saddles themselves as life progresses. Average person follows the masses, gets a job and a car, gets married, has kids, gets a mortgage and then complains about “being stuck”. Then when they get a pay raise they buy a bigger house, a more expensive car and then continues the cycle.

Most people can’t “bet the farm” at 40 b/c they’ve spent 20 years making decisions that don’t let them do so. They spend 20 years making decisions that limit their options. The financial bloggers who are saving 50% of their incomes are actually doing the opposite. They’re limiting their current lifestyle decisions in an attempt to have more options in 20 years. Of course, then they fall into the trap of spending all of their time making money they never spend, ’cause they don’t have an interest or hobby to spend it own, their hobby is making money.

So if you want to do yourself a favor, don’t take either of these roads. Figure out what you actually want to do with your life and what your partner wants to do with theirs and run the numbers on lifestyle vs. income. Saving 50% of your income is like saying that you only need to work 6 months of the year. So what’s better? Work 12 months and save lots of money, work 6 months and save nothing (but cover all of the bills) or work 9 months, save 25% for the future and then have 3 months every year to do “whatever the heck you want”.

These are the calls you have to make, you can make the house, kids, car, full-time work into retirement decision. But that’s actually the default decision. That’s what everybody “just does”. So it’s probably worthwhile to investigate other “lifestyle” decisions and find one that actually works for you.

by: The Financial Blogger | July 20th, 2007 (2:59 am)

Gates, this is a quite interesting reflexion. I guess that my priority right now is my family. My income suffice for our needs for now but would not be good enough if I scrap my budget.
The more I think about it, the more I tend to get a sideline that I like and would eventually creates income. Therefore, I am developing a hobby at the same time I will be earning money.
Hopefully this will all work out!

Welcome to the 110th Carnival of Personal Finance…

Welcome to the 110th edition of the Carnival of Personal Finance.  This week’s Carnival of Personal Finance is hosted by yours truly, Fat Pitch Financials. 
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[…] Am I Waking Up or Am I Falling Into a Bigger Dream? @ The Financial Blogger: This article looks at whether an education, a good job and hard work lead to wealth, or should one follow their dreams? I vote for both. FYI, as you probably know by now, I'm no fan of Rich Dad Robert Kiyosaki, but The Financial Blogger gives you a different persepective. […]