Bit of a rambling post. Just had dinner with a family friend. This is a guy who has known me since I was born. He’s a retired doctor and professor, and his wife is a doctor as well. So we’re talking people who are intelligent, hard working, academically and professionally successful, reasonably well off (I think) and respected in the community.
We had the usual talk about what my plans are for the future, and I decided to be honest. I said I have no interest in developing my career further, and that I plan to just invest and hopefully get out of the work thing soon. I was then told that this is the wrong attitude and that I should have long term plans and more ambition towards my career / business. I was also told how my generation has been spoiled and that we didn’t have to make the hard choices that come with political upheaval, war, etc. (in his case, the decision to leave Hong Kong to come to the US because of fear of the Communists).
I’m used to the older generation telling me that my generation is spoiled (I don’t disagree), but I don’t regret that my generation has been peaceful (at least for me). I didn’t have to go to war, nor have I gone through political upheaval. Whether that means I’m a sissy is another issue, but I don’t want to experience that just to earn their respect.
I WAS a bit miffed at being told I should have more ambition, though. I also wanted to protest that I have a better long term plan than pretty much anyone (and already have more than most people do when they retire), but to do that I would have had to tell him more than I was comfortable with. So, as usual in these sorts of situations, I just swallowed my protests and smiled.
Thinking about it, this is a guy for whom education, academia and his profession has been, and still is, his life. He can’t imagine not living for his profession. I suppose it sounds very arrogant for a 30 year old to say he wants to kick the job early. From his point of view, I’m just some kid who doesn’t understand the hardships of the world and expects everything to fall into my lap. I hope I’m not like that.
He knows I invest in IPs but I don’t think he realises just how serious I am about it. Nor does he realise just how successful people can be at it (remember he’s an academic and all his friends are doctors and teachers). Maybe he doesn’t consider IPs to be a valid alternative to a career. He just talks about simple things like putting money into share funds in his 401k (US super) and when I said super sucks because you can’t borrow money, he said that well, that’s because it’s supposed to be safe.
My point is that, for those who are starting on this road, people who you love and respect will try to tell you it’s a bad idea. They might be family, teachers, bosses, and other people who you respect. Doesn’t mean they’re right. They want the best for you, but they will have different priorities and definition of success and how a person should live their life. It will be hard to respect someone but decide that their advice is wrong (for you), but you have to believe in yourself.
Personally, I’m far enough down this path that I honestly don’t care what other people think. (I’m on a 2 month holiday and everyone else who gave me advice is working and complaining about not having enough money – nuff said). I’ve seen enough successes while doing things people told me not to do that I trust my own judgement.
Those who are still working out whether this whole IP thing actually works may doubt themselves when faced with a very different view from respected, successful (various definitions) people. With IPs, you just have to last the first couple of years. Once you see your portfolio take off, you’ll see why the rest of us believe in it so much.
Alex
We had the usual talk about what my plans are for the future, and I decided to be honest. I said I have no interest in developing my career further, and that I plan to just invest and hopefully get out of the work thing soon. I was then told that this is the wrong attitude and that I should have long term plans and more ambition towards my career / business. I was also told how my generation has been spoiled and that we didn’t have to make the hard choices that come with political upheaval, war, etc. (in his case, the decision to leave Hong Kong to come to the US because of fear of the Communists).
I’m used to the older generation telling me that my generation is spoiled (I don’t disagree), but I don’t regret that my generation has been peaceful (at least for me). I didn’t have to go to war, nor have I gone through political upheaval. Whether that means I’m a sissy is another issue, but I don’t want to experience that just to earn their respect.
I WAS a bit miffed at being told I should have more ambition, though. I also wanted to protest that I have a better long term plan than pretty much anyone (and already have more than most people do when they retire), but to do that I would have had to tell him more than I was comfortable with. So, as usual in these sorts of situations, I just swallowed my protests and smiled.
Thinking about it, this is a guy for whom education, academia and his profession has been, and still is, his life. He can’t imagine not living for his profession. I suppose it sounds very arrogant for a 30 year old to say he wants to kick the job early. From his point of view, I’m just some kid who doesn’t understand the hardships of the world and expects everything to fall into my lap. I hope I’m not like that.
He knows I invest in IPs but I don’t think he realises just how serious I am about it. Nor does he realise just how successful people can be at it (remember he’s an academic and all his friends are doctors and teachers). Maybe he doesn’t consider IPs to be a valid alternative to a career. He just talks about simple things like putting money into share funds in his 401k (US super) and when I said super sucks because you can’t borrow money, he said that well, that’s because it’s supposed to be safe.
My point is that, for those who are starting on this road, people who you love and respect will try to tell you it’s a bad idea. They might be family, teachers, bosses, and other people who you respect. Doesn’t mean they’re right. They want the best for you, but they will have different priorities and definition of success and how a person should live their life. It will be hard to respect someone but decide that their advice is wrong (for you), but you have to believe in yourself.
Personally, I’m far enough down this path that I honestly don’t care what other people think. (I’m on a 2 month holiday and everyone else who gave me advice is working and complaining about not having enough money – nuff said). I’ve seen enough successes while doing things people told me not to do that I trust my own judgement.
Those who are still working out whether this whole IP thing actually works may doubt themselves when faced with a very different view from respected, successful (various definitions) people. With IPs, you just have to last the first couple of years. Once you see your portfolio take off, you’ll see why the rest of us believe in it so much.
Alex
This shows you respected him and his point of view. The fact that he did not respect yours....well that said heaps about him, and nothing about you.
