November 22, 2012, 6:00 am

Does Your Dream Job Have to Pay Well?

by: MD    Category: Alternative Income
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Do you care how much money your dream job pays? Is the purpose of a dream gig to make lots of money?

I enjoy watching MMA, more specifically UFC shows. So my story is going to involve someone that happens to be a fighter in the UFC.

When I watch someone on television, I usually assume that they’re making good money. When a show costs $50 to order from home and when the bar is packed, I imagine that the company is making big money. I thought that a safe assumption to make was that someone fighting in the UFC would be getting paid well.

Then I found out otherwise in an article that I read when I went to find a preview for a card a few weeks back.

I noticed that the fighter in one of the interviews was more excited about getting paid than actually fighting. This guy has his dream job and enjoys what he does. He just hasn’t been able to make as much money as he needs to pay the bills for his family and enjoy life. That really makes you question the notion of working at your dream job.

Does your dream job have to pay well?

“Pleasure in the job puts perfection in the work.” — Aristotle

I really don’t have the answer here because I believe that it all comes down to your lifestyle and how you want to live. For example, if your dream job allows you to move to a more favorable part of the world or if it gives you freedom from doing work that you hate, you can make an argument for not getting paid very generously. On the other hand, if you can’t pay your bills, then there’s a huge problem.

Not having enough money to pay the bills will lead to many other problems that trump being happy at your job. If you don’t have enough money, you might be stuck living in an average home without any access to resources. Is it worth being happy at work and then miserable at home?

This then brings us to the next important question…

Can you conquer money management to be able to work your dream job?

I’m thinking that not everyone with a dream job is making a fortune. This means that you might have to dig into the world of personal finance to work your dream job. What does this world entail?

  • Frugality.
  • Couponing and looking for deals.
  • Paying yourself first to ensure you have enough savings.
  • Watching how you use your credit cards.

You don’t have to make millions at your dream job if you know how to manage your money.

Making millions at your dream job won’t always lead to financial success.

I decided to perform a few Google searches to look at broke celebrities.

Mike Tyson made $400 million in his career. Yet in 2003 he still had to file for bankruptcy. Most of us reading this won’t even make $1 million in our jobs in less than a decade. Tyson made hundreds of millions of dollars.

A few years back Nicholas Cage went broke when it came out that he owed the IRS $6.2 million in back taxes.

Even Abraham Lincoln was forced into filing bankruptcy twice in his life because of businesses that went wrong.

Then there’s Jacob of Early Retirement Extreme who can live off in a year what some spend in a month. His dream job pays him enough to live the type of life that makes him happy. It’s not for everyone, but it seems to be working well for him.

At the end of the day, I salute anyone that’s doing what they love, especially if they’re not hurting anyone in the process. We already have enough miserable people in the world. The last thing we need is another disgruntled employee taking their frustrations out when they’re stuck in traffic or in line for a cup of coffee.

I just have a few questions for those of you with dream jobs…

Does your dream job have to pay well? Is it a dream job because of the pay or because you love the work that much?

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[…] 7. Does Your Dream Job Have to Pay Well? @ TFB. […]

If it is truly the “dream job” then yes, a great salary should come with it. $200,000 a year should suffice!

I have catagorized all jobs into 4 categories, jobs you like that pay well, jobs you hate that pay well, jobs you like that pay poorly and jobs you hate that pay poorly.

I go into more details here

@Sam What if the perks are great? What if there are hidden benefits? For example, being a UFC fighter can turn you into a celebrity. There used to be a dude in my gym who ran a class. Then when he was featured on the UFC, his rates increased and he found higher pay jobs as a trainer.

@Jay That’s pretty clever. Which category do you think that most jobs fall under? I wonder how many people have a job they like that pays well?

@MD Sadly most people have jobs they dislike that pay poorly, I consider myself to have spent most of my career having a job that I like that pays well. However these days I consider it more that I like my profession, but my job doesn;t really do anything for me, so I guess I am borderline between job I like and job I don’t like that pays well. I am making lots of efforts to get out of the job and start waorking for myself more which would put me back in the top category.

[…] in order to illustrate just how important it is!”Mike from The Financial Blogger presents Does Your Dream Job Have to Pay Well?, and says, “We look at the income situation with a dream gig.”Sam from The New Business […]