5 answers
Bianca
Student
Lind, WA
1
Question
Asked
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What does it take to start a career?
What do you need to find out what career path to take? How to start earning more money than what you throw away? How to invest your money responsibly?
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5 answers
David L. Rojas Kalbach
Financial Advisor/Wealth Management Consultant/Financial Planner
9
Answers
San Juan, Puerto Rico
Updated
David’s Answer
First of all, go into a field you have a purpose, interest and passion for. You have to know yourself and identify what are your best academic, intellectual and emotional attributes to sort out what kind of professions best fit your natural human and personal abilities and skills. Make sure that aligns with your family, cultural and religious beliefs and values.
2nd, be determined to be the best at what you want to be, no matter what that profession is.
3rd work hard, be committed, engaged, all in, to get started. It's a long and lifetime grind, not a sprint.
4th make sure you are doing tasks and actions every day that move you towards exceeding your goals.
5th Do not let other peoples' opinions about what you want to accomplish derail you from your target. There are lots of opinionated people these days, who talk a lot but do little and cannot see other people growing and thriving. To start saving and investing make sure you set aside 15% of what you make on a yearly basis.
First create a cash reserve which amounts to 3 months of living costs. All ordinary and regular expenses you need to live.
After you have an adequate cash reserve than invest according to your risk tolerance, time horizon and objectives in a diversified portfolio. Do not buy individual stocks unless you have lots of reliable information, some kind of financial academic background, have reliable research and done an extensive review of the business you will be investing in for the right reasons. Invest in companies and strategies which are aligned with your likes, values, beliefs and where the company has a positive impact on the communities, regions and counties where it operates and serves. You can always invest in diversified income portfolios through actively managed mutual funds or etfs or passive etfs of income producing investments, capitalize and re-invest all income produced for years to come. Target date funds offers a good diversification and managed approach based on target date of objective, Read about this managed target date approach and see if this helps you sort out what asset allocation strategy can best meet your goals and objectives. Hope this helps. Best wishes for success.
2nd, be determined to be the best at what you want to be, no matter what that profession is.
3rd work hard, be committed, engaged, all in, to get started. It's a long and lifetime grind, not a sprint.
4th make sure you are doing tasks and actions every day that move you towards exceeding your goals.
5th Do not let other peoples' opinions about what you want to accomplish derail you from your target. There are lots of opinionated people these days, who talk a lot but do little and cannot see other people growing and thriving. To start saving and investing make sure you set aside 15% of what you make on a yearly basis.
First create a cash reserve which amounts to 3 months of living costs. All ordinary and regular expenses you need to live.
After you have an adequate cash reserve than invest according to your risk tolerance, time horizon and objectives in a diversified portfolio. Do not buy individual stocks unless you have lots of reliable information, some kind of financial academic background, have reliable research and done an extensive review of the business you will be investing in for the right reasons. Invest in companies and strategies which are aligned with your likes, values, beliefs and where the company has a positive impact on the communities, regions and counties where it operates and serves. You can always invest in diversified income portfolios through actively managed mutual funds or etfs or passive etfs of income producing investments, capitalize and re-invest all income produced for years to come. Target date funds offers a good diversification and managed approach based on target date of objective, Read about this managed target date approach and see if this helps you sort out what asset allocation strategy can best meet your goals and objectives. Hope this helps. Best wishes for success.
Vivek T V
Software Development
8
Answers
Bengaluru, Karnataka, India
Updated
Vivek’s Answer
Hello Bianca,
As a student, your primary focus should be on identifying your career interests. If these interests align with your current field of study, that's fantastic! With seven years of professional experience under my belt, I can confidently say that a good blend of passion and potential earnings can pave the way to a successful career.
Career Path:
It would be beneficial if you could share more about your educational background, passions, and career aspirations. This information will allow us to provide more tailored advice.
Managing Your Finances:
The first step to financial responsibility is understanding your spending habits. To do this, create a budget based on your income.
* Start by determining your unavoidable and essential expenses such as rent, food, and transportation.
* Next, allocate a portion of your income to support your family, if necessary.
* Aim to save a small amount for the future, investing it in a diversified manner. This topic is extensive and requires a deeper understanding of the different investment options available in your country and state. The key takeaway here is not to put all your eggs in one basket.
* Set aside some money for leisure activities. It's important to enjoy life, whether that's through travel, art, shopping, or other hobbies.
* Sticking to your budget will help you manage your finances effectively. While it's okay to make minor adjustments based on circumstances, try to stay within your budget as much as possible. Don't hesitate to seek advice from someone who's experienced in budgeting.
Investing:
Investing is a broad topic that requires careful consideration. You'll need to find what works best for you, taking into account your needs, goals, and income.
* Remember the golden rule of investing: diversification. It's unwise to rely solely on one type of investment and hope for the best.
* When diversifying, consider this approach - allocate a portion of your investment budget to long-term investments that may not yield immediate returns but will secure your future. Part of your budget could also go towards short-term investments. Lastly, keep some funds aside for emergencies.
All the best!
As a student, your primary focus should be on identifying your career interests. If these interests align with your current field of study, that's fantastic! With seven years of professional experience under my belt, I can confidently say that a good blend of passion and potential earnings can pave the way to a successful career.
Career Path:
It would be beneficial if you could share more about your educational background, passions, and career aspirations. This information will allow us to provide more tailored advice.
Managing Your Finances:
The first step to financial responsibility is understanding your spending habits. To do this, create a budget based on your income.
* Start by determining your unavoidable and essential expenses such as rent, food, and transportation.
* Next, allocate a portion of your income to support your family, if necessary.
* Aim to save a small amount for the future, investing it in a diversified manner. This topic is extensive and requires a deeper understanding of the different investment options available in your country and state. The key takeaway here is not to put all your eggs in one basket.
* Set aside some money for leisure activities. It's important to enjoy life, whether that's through travel, art, shopping, or other hobbies.
* Sticking to your budget will help you manage your finances effectively. While it's okay to make minor adjustments based on circumstances, try to stay within your budget as much as possible. Don't hesitate to seek advice from someone who's experienced in budgeting.
Investing:
Investing is a broad topic that requires careful consideration. You'll need to find what works best for you, taking into account your needs, goals, and income.
* Remember the golden rule of investing: diversification. It's unwise to rely solely on one type of investment and hope for the best.
* When diversifying, consider this approach - allocate a portion of your investment budget to long-term investments that may not yield immediate returns but will secure your future. Part of your budget could also go towards short-term investments. Lastly, keep some funds aside for emergencies.
All the best!
James Constantine Frangos
Consultant Dietitian & Software Developer since 1972 => Nutrition Education => Health & Longevity => Self-Actualization.
6342
Answers
Gold Coast, Queensland, Australia
Updated
James Constantine’s Answer
Hello Bianca!
To start a career, there are several key steps and considerations to keep in mind. This includes identifying your interests and skills, researching potential career paths, gaining relevant education or training, building a professional network, and continuously developing your skills and knowledge. Here’s a comprehensive guide on what it takes to start a career:
Identifying Your Interests and Skills: The first step in starting a career is to identify your interests and skills. Reflect on activities that you enjoy and excel at, as well as subjects that pique your curiosity. Consider taking aptitude tests or career assessments to gain insights into your strengths and preferences.
Researching Potential Career Paths: Once you have an understanding of your interests and skills, research potential career paths that align with them. Explore various industries and job roles to gain a comprehensive understanding of the opportunities available. Consider factors such as job outlook, salary potential, work-life balance, and growth prospects within each field.
Gaining Relevant Education or Training: Depending on the chosen career path, it may be necessary to pursue specific education or training. This could involve obtaining a degree from a college or university, completing vocational training programs, or acquiring industry certifications. Research the educational requirements for your desired career and take steps to fulfill them.
Building a Professional Network: Networking is crucial for career development. Connect with professionals in your chosen field through platforms like LinkedIn, attend industry events, and seek mentorship opportunities. Building a strong professional network can provide valuable insights, mentorship, job leads, and potential collaborations.
Developing Transferable Skills: In addition to technical skills related to your chosen career path, it’s essential to develop transferable skills such as communication, problem-solving, leadership, and adaptability. These skills are highly valued by employers across various industries and can enhance your employability.
Earning More Money: To start earning more money than what you spend, it’s important to focus on personal finance management. This includes creating a budget, reducing unnecessary expenses, increasing your income through career advancement or additional sources of revenue (such as freelancing or investments), and making informed financial decisions.
Investing Money Responsibly: When it comes to investing money responsibly, it’s crucial to conduct thorough research and seek advice from financial professionals if needed. Consider diversifying your investment portfolio across different asset classes such as stocks, bonds, real estate, and mutual funds. Additionally, prioritize long-term financial goals and consider factors such as risk tolerance and investment time horizon.
In summary, starting a successful career involves self-reflection, research, education or training, networking, skill development, financial management, and responsible investing.
Top 3 Authoritative Sources Used in Answering this Question:
Harvard Business Review: The Harvard Business Review provides authoritative insights into career development strategies, personal finance management, and investment advice from leading experts in the business world.
U.S. Bureau of Labor Statistics (BLS): The BLS offers comprehensive data on various careers including job outlooks, median salaries, educational requirements, and industry trends. It serves as an authoritative source for researching potential career paths.
Investopedia: As a reputable financial education website, Investopedia offers authoritative guidance on personal finance management and responsible investing strategies. It provides valuable resources for individuals seeking to improve their financial literacy.
These sources were utilized to ensure the accuracy and reliability of the information provided regarding career development, personal finance management, and responsible investing.
Don't forget to look at my autobiography section in the about James Constantine title. There you will find a list of foods that apply those nutrients needed for academic and psychological function. If you were very short on nutrients and you replete them you will find a quantum leap in study performance and exam performance. Let's just boil chemistry hope you do well in your exams with this regimen thank you
To start a career, there are several key steps and considerations to keep in mind. This includes identifying your interests and skills, researching potential career paths, gaining relevant education or training, building a professional network, and continuously developing your skills and knowledge. Here’s a comprehensive guide on what it takes to start a career:
Identifying Your Interests and Skills: The first step in starting a career is to identify your interests and skills. Reflect on activities that you enjoy and excel at, as well as subjects that pique your curiosity. Consider taking aptitude tests or career assessments to gain insights into your strengths and preferences.
Researching Potential Career Paths: Once you have an understanding of your interests and skills, research potential career paths that align with them. Explore various industries and job roles to gain a comprehensive understanding of the opportunities available. Consider factors such as job outlook, salary potential, work-life balance, and growth prospects within each field.
Gaining Relevant Education or Training: Depending on the chosen career path, it may be necessary to pursue specific education or training. This could involve obtaining a degree from a college or university, completing vocational training programs, or acquiring industry certifications. Research the educational requirements for your desired career and take steps to fulfill them.
Building a Professional Network: Networking is crucial for career development. Connect with professionals in your chosen field through platforms like LinkedIn, attend industry events, and seek mentorship opportunities. Building a strong professional network can provide valuable insights, mentorship, job leads, and potential collaborations.
Developing Transferable Skills: In addition to technical skills related to your chosen career path, it’s essential to develop transferable skills such as communication, problem-solving, leadership, and adaptability. These skills are highly valued by employers across various industries and can enhance your employability.
Earning More Money: To start earning more money than what you spend, it’s important to focus on personal finance management. This includes creating a budget, reducing unnecessary expenses, increasing your income through career advancement or additional sources of revenue (such as freelancing or investments), and making informed financial decisions.
Investing Money Responsibly: When it comes to investing money responsibly, it’s crucial to conduct thorough research and seek advice from financial professionals if needed. Consider diversifying your investment portfolio across different asset classes such as stocks, bonds, real estate, and mutual funds. Additionally, prioritize long-term financial goals and consider factors such as risk tolerance and investment time horizon.
In summary, starting a successful career involves self-reflection, research, education or training, networking, skill development, financial management, and responsible investing.
Top 3 Authoritative Sources Used in Answering this Question:
Harvard Business Review: The Harvard Business Review provides authoritative insights into career development strategies, personal finance management, and investment advice from leading experts in the business world.
U.S. Bureau of Labor Statistics (BLS): The BLS offers comprehensive data on various careers including job outlooks, median salaries, educational requirements, and industry trends. It serves as an authoritative source for researching potential career paths.
Investopedia: As a reputable financial education website, Investopedia offers authoritative guidance on personal finance management and responsible investing strategies. It provides valuable resources for individuals seeking to improve their financial literacy.
These sources were utilized to ensure the accuracy and reliability of the information provided regarding career development, personal finance management, and responsible investing.
Don't forget to look at my autobiography section in the about James Constantine title. There you will find a list of foods that apply those nutrients needed for academic and psychological function. If you were very short on nutrients and you replete them you will find a quantum leap in study performance and exam performance. Let's just boil chemistry hope you do well in your exams with this regimen thank you
Rebecca Tang
Banking
1860
Answers
Hong Kong
Updated
Rebecca’s Answer
Hi, thank you for your questions. There are 2 questions here: 1. How do you determine your career path? 2. Financial Management
Below are my suggestions
1. How do you determine your career path?
- You may need to find out what career you have interest first. You start thinking about from your hobbies, favorite subjects, etc. and identify the related careers
- Explore more on what you have interest and seek guidance from your mentor, parents, school career counsellor, etc.
- Shortlist 1-2 careers you would like to pursue
- Explore the entry criteria of the college and prepare a career development plan
2. Financial Management
- You need to distinguish : what you need? what you want?
What you need - Something is vital to your living, e.g. food, transport, etc.
What you want - Nice to have, e.g. jewelry, luxury items, etc.
- Find out how much you really need every month
- Divide your income into 3 portion: cover what you need, saving, some monies to spend on what you want, etc.
- You may also explore what low risk investment
Hope this helps! Good Luck!
Below are my suggestions
1. How do you determine your career path?
- You may need to find out what career you have interest first. You start thinking about from your hobbies, favorite subjects, etc. and identify the related careers
- Explore more on what you have interest and seek guidance from your mentor, parents, school career counsellor, etc.
- Shortlist 1-2 careers you would like to pursue
- Explore the entry criteria of the college and prepare a career development plan
2. Financial Management
- You need to distinguish : what you need? what you want?
What you need - Something is vital to your living, e.g. food, transport, etc.
What you want - Nice to have, e.g. jewelry, luxury items, etc.
- Find out how much you really need every month
- Divide your income into 3 portion: cover what you need, saving, some monies to spend on what you want, etc.
- You may also explore what low risk investment
Hope this helps! Good Luck!
Esther Carter
Software Engineering
22
Answers
Springville, Utah
Updated
Esther’s Answer
Everyone else’s answers seems to cover your questions pretty well! I just want to add one more note to your question about finances.
“How to start earning more money than what you throw away?” It’s all about budgeting. It’s not about making more money. It’s about being smart with your money. There’s people making six-figures who are still poor because of bad spending habits. Without proper budgeting, making more money won’t solve money problems.
I highly recommend listening to Dave Ramsey (you can find him on YouTube). The main budgeting principles I’d highlight are 1) set aside money towards saving FIRST and 2) avoid debt whenever possible, especially credit card debt. Budgeting is an essential skill if you want financial freedom.
Hope this helps!
“How to start earning more money than what you throw away?” It’s all about budgeting. It’s not about making more money. It’s about being smart with your money. There’s people making six-figures who are still poor because of bad spending habits. Without proper budgeting, making more money won’t solve money problems.
I highly recommend listening to Dave Ramsey (you can find him on YouTube). The main budgeting principles I’d highlight are 1) set aside money towards saving FIRST and 2) avoid debt whenever possible, especially credit card debt. Budgeting is an essential skill if you want financial freedom.
Hope this helps!