Monday Morning Pick Me Up

By Bruce Firestone | Uncategorized

Oct 16

What exactly is a paycheck worth?

Taking too much time to get going on a new week today Monday?

Then put this on and crank the volume:

[youtube https://www.youtube.com/watch?v=v2AC41dglnM?feature=oembed&enablejsapi=1&origin=https://safe.txmblr.com&wmode=opaque&w=540&h=405]

First listen to AC/DC’s Thunderstruck, then go out into the world and do your JOB!

That’s the one thing that Hollywood

screenwriters

and television scriptwriters seem to miss out on–sure they show people with real jobs these days, which is good, but then, when something bad happens in their personal lives, they desert their jobs to: a) go commiserate (for days or weeks even it seems) with distressed children/spouses/parents/friends/colleagues/lovers or b) go on a bender or take massive quantities of drugs to fend off their inner devils.

Really?

No. Real heroes go to work every day and do their jobs, leaving aside all their personal issues.

What’s the value of a JOB? Forgetting impacts like personal dignity derived from your work, the main value of a JOB is, self-evidently, your paycheck.

But what exactly is your paycheck worth? 

Let’s say you earn $45,000. How much would you have to have in your savings account to generate that independently?

Well, if your “high” interest bank savings account yields 1.2% pa in interest, you’d need to save $3.75 million.

So that JOB of yours is actually worth $3.75 million to you. Not bad, huh?

If, on the other hand, you bought some real estate with a 6% pa cap rate (our target ROI for this type of portfolio), you’d “only” need to acquire real estate in the amount of $750,000 and pay off your mortgages to realize this level of income whilst you sit on a beach in Costa Rica. 

This seems a little more realistic for most people. It’s why I coach people these days in terms of their real estate investment.

But it also gives you another way of looking at your JOB–it’s darned important so keep working…

Prof Bruce 

Get Blog Updates in Your Inbox
Enter your email address and click on the Get Instant Access button.
I agree to have my personal information transfered to BruceMFiresestone.com ( more information )
We respect your privacy
Spread The Word
Follow

About the Author

Bruce is an entrepreneur/real estate broker/developer/coach/urban guru/keynote speaker/Sens founder/novelist/columnist/peerless husband/dad.

>