
Do what you
love-but
it's better
if
what you
love pays really well.
178
1The
Ten
Roads
to Riches
Note
: A million's
not
much anymore! A million invested well
kicks
off
about $40,000 a year in cash flow (see why
later)-not
enough to feel rich. But it isn't a stretch to
hit
maybe $10 million-
plus with an ok job and discipline.
This
road's
not
sexy. Frugal
isn't known for sexy! But the good news:
This
road doesn't require
degrees-or
even high school (but education helps with
better
-
paying jobs).
This
is the exact reverse
of
the road less traveled.
It
is
the road more commonly traveled to riches.
INCOME
MATTERS
Earn more to save more
-easy
as that. Garbage collectors can't save
as much as a doctor may.
That
doesn't mean doctors save more-
they're notoriously bad savers
-but
the possibility is there. Find a
job in a well-paying, relevant field you like.
If
you're in a sinking
industry, get a different job.
If
you live in a low-paying geography,
move. Where? Preferably to Texas, Florida, or Washington! All
have no state income taxes and in 10 years will have more better-
paying jobs than high tax states. (Read more about why some states
are just better, and others worse, in
Chapter
9.)
In any career, consider the costlbenefit payoff.
How
long must
you go to school and intern? Is it worth it? Review Chapters 1 and 7
on sectors likely to become or remain relevant.
Some may bristle and say, "But you should do
what you love!"
Yes,
but like Marilyn Monroe ...