Career

I really have no idea what I want to pursue for my career

Originally I thought it would be clear that I’d follow a career in finance

But the more broadly I learn, the more broadly my interests become

Below I will want to just list a few of the things I’ve considered pursuing just so I can also have a better framework of my passions

  • Finance
    • Investment banking
    • Wealth Management
    • Investments
    • Hedge Funds
    • Private Equity / Venture Capital
  • Academia
    • Economics Research
    • Economics PhD
    • Philosophy
    • Professorship either in Economics, Finance, or Philosophy
  • Entrepreneurship
  • Writer
    • The Economist
    • Personal blogging (Travel blog?)
    • Write economics/humanities books?
  • Places I’d love to work:
    • Vancouver
    • Toronto
    • New York
    • Los Angeles
    • Singapore
    • Shanghai
    • London

At the end of the day, I suppose having broader interests is better than having none. But I understand that specialization is important and one of the major keys to success as we are taught in economics. It’s more efficient to specialize in a few skills.

 

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Living expenses

Personal finance is a topic I’ve always enjoyed studying.

How can people, individuals, manage their finances in the most efficient way while also satisfying the economical unlimited wants and desires of being human?

How about we do some incredibly rudimentary examples of personal finance:

$1000 apartment or $800 shared with your college friends

$15 UBER ride or walking OR $2 subway train

$15 lunch at Pret a Manger OR making your own lunch for $5

$5 Starbucks coffee vs. no coffee

And the biggest one that I’ve been trying to cut out for my living expenses:

Haircuts.

Yes.

I get a haircut quite regularly, around every 3-weeks.

Nothing fancy. I’ve been trying to grow out the top of my hair so I’ve just been asking for my sides and back to be shaved and cleaned up. It takes less than 10-minutes, really, and it’s really not worth my money.

The opportunity cost of getting my sides fixed is roughly $30. $20 for the haircut, $10 for my time spent commuting to and from.

Now, because of how simple of a haircut I need every 3 weeks, I can very much do it myself.

$30 shaver on Amazon and learn how to be self-sufficient.

That’s 17 fewer haircuts I’d need every year, 17*25=$425 minus the initial $30 for the shaver = I’d save $395 in the first year, and then $425 every year after.

It doesn’t seem like much at first, but it adds up.

Invest that $395 into the stock market, and expect even just an average of 7% annual interest compounded over 20 years, I’d have $16,193

Do it for 40 years and I’d have $78,855.

Just by cutting my own hair.

How’s that for self-sufficient?

Read more finance stuff on my Down to Finance website:

www.downtofinancedtf.com

 

 

 

Loving what you do

I hope that all of us are able to find something we love to do in life.

For me, I love finances. I love the idea of money. I also like having money.

But in reality, I dream of a world where no one has to be burdened with the concept of finances. Poverty doesn’t exist, and premature deaths are reduced. The global economy has a long way to go, but together, it’s possible.

When we love what we do, we become more passionate, we become more driven and motivated, and we feel like we have a “stake” in life.

Like we own something. Like what we do actually matters.

And I guess that’s all we can really ask for: do what we love and do what matters.

Good Luck.

[Book Review] Freakonomics

[Freakonomics: A Rogue Economist Explains the Hidden Side to Everything] – by Stephen J. Dubner and Steven Levitt was a great book. 

It was different. And I liked it.

Freakonomics makes you look at the world in a different way.  The book explores the real reasons for the 1990s crime drop, information asymmetry, real estate agents, correlation vs. causation, and, most importantly, in the introduction, which discusses the fundamental principles of incentives. From then on, each chapter focuses on answering, or more so addressing an unusual question.

Continue reading “[Book Review] Freakonomics”

[Book Review] The Wealthy Barber Returns – David Chilton

wealthy barber returns

David Chilton sounds like me, but trapped in a 40-year-old body.

His writing style is extremely informal, and he often uses sarcasm, puns, and incredibly badly timed & cringe-worthy jokes…

Basically me!

Either way, his books, The Wealthy Barber & The Wealthy Barber Returns are both great finance books.

As the name suggests, the book teaches you how to be wealthy, even if you were a barber.

The concepts are basic and fundamental; great for anyone!

Save more, spend less, invest and compound, and don’t get yourself in debt.

But Chilton not only provides great examples and humorous tips on how to do all those things, but he also understands that although the theory is simple, it is hard to execute.

The chapters are short (often 2-4 chapters each).

The book is broken down into many segments so it feels like actually a really short read.

I aspire to be a financial advisor or someone who helps the general population with financial advice…and although I do think that I know a good amount of information on finance, it seems awkward to take the advice for an 18-year old, doesn’t it?

I hope for a world where everyone, my friends, family, and the general population is financially literate and is not burdened by the concept of money. And I think a great way to spread financial knowledge is through reading.

And that’s why you need to read his book…Read this book if you want to be a Wealthy Barber.

Good Luck and always reach out! I am always free to share my investment journey