Hi there, Mrs. 1500 again, wanting to know about your financial goals. Do you want to have $10 Million before you retire? Do you want to own a string of rental properties? Do you just want to be comfortable enough to buy everything you want? But first, let’s talk about last week’s question.
Last week I asked a question about minimum wage, and got a flurry of responses. There were arguments both for and against raising the minimum wage.
I know when I was a minimum wage earner, I was all for raising it, and the sky was the limit. But when I was a minimum wage earner, there were lots of other people just like me, looking for my same, unskilled job. I worked harder when I earned minimum wage than I did making 5 times as much. (Note, 5 times my minimum wage isn’t really all that much, considering when I did make minimum wage, it was less than half of what it currently is. Yes, I am that old.)
I think everyone SHOULD work for minimum wage at some point in their lives. It will teach you the value of a dollar (you have to work REALLY hard for that dollar) and show you that sometimes hard work isn’t rewarded. Minimum wage will also show you that it is not a living wage.
Yes, in today’s crappy job market, there are many people with college degrees who are working at minimum wage jobs. But let’s look at the degrees these people hold. Did they study useless things, such as Fashion Design? (That was my major.) Are they good employees? I worked at a company that kept bad employees on, just so they would continue to have that much money in their budget every year. My department could get by with only 4 people in my position, but they kept an extra person on, giving her busy work and wasting money. She was the first to go in the downsizing, and the we didn’t miss her at all.
Mr. 1500 is quite the accomplished computer programmer. He has worked very hard and taught himself many different programming languages on his own so he is in more of a demand. There was recently an ENORMOUS problem at his job, and he was concerned the entire project would be canceled. He posted his resume online, and within one hour, received more than 300 emails. Some of those were not jobs he wanted, as anyone who has posted a resume online can attest. He doesn’t want to move and he doesn’t want to work in sales. He was very specific about what he wanted, and there were at least 5 absolutely perfect jobs he could have had. Ultimately, he stayed with his company.
I have a cousin who was downsized. He doesn’t want to move from his very small town in central Illinois, and he doesn’t want to take less money than what he was making before. So he is on unemployment, and has been for quite some time. If that dried up, instead of being extended again and again, you can bet he would be working some less than top dollar job. Or he might be persuaded to move. There are a number of jobs he could get if he would move. He has a rather specialized skill, that is in little demand where he lives.
As a child, I moved around quite a bit. My dad has good skills, and moved his way up in several different companies. But we were transferred quite a bit, and every time a new opportunity arose, he would discuss it with my mother and then we would move. One company he worked for had a weird policy and he was let go because his boss was doing very bad things. This led to me moving twice in 6 months, and going to three different schools in second grade. Possibly not the best thing for me, but I used to be shy, and I am no longer.
But enough about me. Let’s talk about you. What are your financial goals?
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