More on this whole "life" thing

[Alphathree33]

Sometimes I have really bad days at work.

Sometimes I have good/great days.

Sometimes I think that if I got promoted a few times, got an MBA, and so on, it wouldn't all be so bad. After all, who could complain about getting lots of respect and taking home a six-figure paycheque?

But no matter who you are -- CEO, VP, Director, Manager (my level), or Average Grunt, you are still, in the end, working for a corporation.

To put it more bluntly, you have to spend most of your life working toward someone else's goals.

And while I do take pride in doing good work for someone else, it doesn't really compare to the fun I have doing good things for myself.

The thought of going completely independent is very scary, though. Ideally, I would become a good money manager (I'm spending my weekends in the library reading up on technical analysis and options trading) and spend my time selling my other skills if I needed extra cash.

But again, scary thought. No wonder so many people default to the relative security of a corporation. You could get fired or laid off, but it's unlikely, and you have laws protecting you.

On your own means on your own. Personal responsibility is some scary sh1t.

Has anyone taken that path, whether it be starting a business, becoming a full-time investor (i.e. living off your assets), or otherwise? I know some people who even life off poker.

 

[LS20]

you should share your thoughts on a joint-blog with freedomsbeat212

 

[freegeeks]

I feel your pain
part of the solution for me was becoming IT contractor. No more office politics and I only do contract of 6 months. If I don't like it I can just call it quits after 6 months.
I do want to start my very own company though but it's so damn hard to get started

 

[ggnl]

If you're managing money wouldn't you still be working towards someone else's goals?

What's so bad about working for someone else? I make good money, and when the work day ends, it really ends. No worrying about my own business, just relax until it's time to go back in.

 

[Throckmorton]

If you're a public servant, you're working for your fellow citizens, rather than working to make others rich. You also have security... in some ways less than a corporate job and in some ways more.

 

[Ctrackstar126]

well if your looking to get into option trading you can start off part time and get more comfortable with it first. I myself went independent and yes it is scary. People can say well you have no guaranteed stability in the work force either but for the most part you are guaranteed a paycheck. Its just a comfort zone you have to break. I myself would be breaking my comfort zone by getting a job. Ive never been one that has to be in a set place for a set period of time.

With that said being independent is definitely rewarding. Knowing that if I work hard I get paid more is rewarding. Its also the disadvantage you have to be motivated to be able to constantly do work. In the corporate world you spend your whole life to be promoted to some position and in one day that can come crashing down on you because of other people. At least if your own your own you have no one to blame but yourself.

 

[Ctrackstar126]

Originally posted by: ggnl
If you're managing money wouldn't you still be working towards someone else's goals?

What's so bad about working for someone else? I make good money, and when the work day ends, it really ends. No worrying about my own business, just relax until it's time to go back in.

Something else I missed on. Be prepared for sleepless nights. A job may be 9-5 but your own business or trading is all the time. If problems occur its all on you and only you can bail yourself out.

The good thing about trading though is if you are smart about it and set enough money aside to ride out the drawdowns you will be in a much better position.

 

[Platypus]

To me, work is a means to an end. At the end of the day I just chose something that I had interest in and I concentrate on my life outside of work...

There are far better things in life to worry about.. and if you make a comfortable living where you can afford the things you like to do outside of work then what else could you want?

 

[ryan256]

Azurik..... paging Azurik

 

[Descartes]

Oddly enough, I can relate to almost everything you're saying.

I've been on my own for about 6 years. That was after ~3 years or so of working for various companies, some very large and some small. Three of those years I was completely independent, and for the last three I've had two business partners. My utopia was working entirely for my own goals, but no matter how you organize yourself you inevitably end up working for someone else. I still work for my clients, and they make demands that I have to meet or face the same consequences an employee would if they didn't fulfill their responsibilities. It never ends.

Also, as far as having an MBA and being a manager has nothing to do with respect. You're always someone else's grunt, and the sooner most people realize that the more productive they'll be. The desire many have to just cut themselves off from subordinate responsibilities isn't feasible, even for CEOs; they too are subordinate to the board, shareholders that want to vote them out, etc. Again, it never ends.

Finally, on trading. My partners and I built a trading platform to operate a strategy we had developed over a few years of trading. I posted information about it a year or so ago on ATOT. It seemed like the perfect business. You only answer to the markets, so it seems to circumvent the cycle, right? Unfortunately, being subordinate to the market is often more stressful than corporate serfdom, so that too has its drawbacks. We shelved the product until we had time to focus only on it.

And trying to segue into money management isn't exactly easy either. It's not surprising that people have a little difficulty in handing any substantial sum of money to anyone without years of P&L statements showing that you've successfully managed money, so you still have to be a financial grunt before you get that experience. Most people want to see a CFA, CFP, etc. and/or years of experience before handing over any money.

That said, one of my best friends (and ex-employees) took part of the strategy that our company developed and researched it at Georgia Tech (there are a few papers on it). He applied it to options trading, and along with one of the Georgia Tech professors he's managing accounts. He's starting small, but he works a few hours out of the day and that's about it. He takes 2% of equity or 20% of profits from the accounts and trades them on your behalf, but he stays small enough to slide under the SEC requirements for hedge funds.

Not sure what I said is actually helpful, but you stroke a chord with me and I spilled my mind.

 

[AgaBoogaBoo]

I don't know how valid my example is because I'm a student, but working for yourself is much more satisfying and challenging, and you have control of everything. You end up working on your client's schedule so they become your boss in the end, but it's not something where you're stuck with that same organization till you retire. You get to skip the game called politics as well.

The fact is that wherever you work, someone had to create that business, why not let that be you? If someone's going to make that money, why not it be you? It requires more effort, but it's more enjoyable and you'll see the rewards.

Look for a good opportunity and you'll see that the rewards from working independently can be amazing. If you're looking into this, find local groups of similar people and attend their meetings. Network around a little and I'd be surprised if you couldn't get something going.

OP: What kind of work do you do and where are you located?

 

[RKS]

There are a number of occupations where you can work for yourself. The ones that quickly come to mind are attorney or doctor. You have to answer to your 'clients' and there is a lot of pressure to earn (or lose your home) but ultimately it is YOUR company.

 

[AgaBoogaBoo]

Originally posted by: RKS
There are a number of occupations where you can work for yourself. The ones that quickly come to mind are attorney or doctor. You have to answer to your 'clients' and there is a lot of pressure to earn (or lose your home) but ultimately it is YOUR company.

The issue he expressed still exists when you work for yourself though, it doesn't matter that it's your company other than the freedom to do certain things and financial aspect.

When your clients demand something, it's just the same as if it were to come from a boss. The pressure might even be more because you know that if you don't meet their needs, it could be bad for not only your position, but now for your entire business and everyone that is involved with it.

 

[Descartes]

Originally posted by: AgaBoogaBoo

Originally posted by: RKS
There are a number of occupations where you can work for yourself. The ones that quickly come to mind are attorney or doctor. You have to answer to your 'clients' and there is a lot of pressure to earn (or lose your home) but ultimately it is YOUR company.

The issue he expressed still exists when you work for yourself though, it doesn't matter that it's your company other than the freedom to do certain things and financial aspect.

When your clients demand something, it's just the same as if it were to come from a boss. The pressure might even be more because you know that if you don't meet their needs, it could be bad for not only your position, but now for your entire business and everyone that is involved with it.

Exactly. Having been on both sides, client pressure is definitely far worse. I can only imagine the kind of pressure that many doctors and lawyers have.

 

[IceBergSLiM]

So your tired of being pimped by your corporation. So you can jump ship and try to find a better pimp. Or you can take what you've learned try to pimp some hoes on your own....a difficult, tiring and lonely job. Or you can Be a Mack like Descartes and set up shop in another pimps game...many of the rewards that a pimp has with fewer down falls. In life there is only Pimps, Tricks, Hos and macks......only you can decide which one will make you most happy.

 

[edro]

Security is the only reason I work for a corporation.

 

[JS80]

Originally posted by: Descartes
Oddly enough, I can relate to almost everything you're saying.

I've been on my own for about 6 years. That was after ~3 years or so of working for various companies, some very large and some small. Three of those years I was completely independent, and for the last three I've had two business partners. My utopia was working entirely for my own goals, but no matter how you organize yourself you inevitably end up working for someone else. I still work for my clients, and they make demands that I have to meet or face the same consequences an employee would if they didn't fulfill their responsibilities. It never ends.

Also, as far as having an MBA and being a manager has nothing to do with respect. You're always someone else's grunt, and the sooner most people realize that the more productive they'll be. The desire many have to just cut themselves off from subordinate responsibilities isn't feasible, even for CEOs; they too are subordinate to the board, shareholders that want to vote them out, etc. Again, it never ends.

Finally, on trading. My partners and I built a trading platform to operate a strategy we had developed over a few years of trading. I posted information about it a year or so ago on ATOT. It seemed like the perfect business. You only answer to the markets, so it seems to circumvent the cycle, right? Unfortunately, being subordinate to the market is often more stressful than corporate serfdom, so that too has its drawbacks. We shelved the product until we had time to focus only on it.

And trying to segue into money management isn't exactly easy either. It's not surprising that people have a little difficulty in handing any substantial sum of money to anyone without years of P&L statements showing that you've successfully managed money, so you still have to be a financial grunt before you get that experience. Most people want to see a CFA, CFP, etc. and/or years of experience before handing over any money.

That said, one of my best friends (and ex-employees) took part of the strategy that our company developed and researched it at Georgia Tech (there are a few papers on it). He applied it to options trading, and along with one of the Georgia Tech professors he's managing accounts. He's starting small, but he works a few hours out of the day and that's about it. He takes 2% of equity or 20% of profits from the accounts and trades them on your behalf, but he stays small enough to slide under the SEC requirements for hedge funds.

Not sure what I said is actually helpful, but you stroke a chord with me and I spilled my mind.

Steps to being a successful hedge fund manager (after you've raised the money):
1) Lever up. Pick a side.
2) If you're right you'll have phenomenal returns and be hailed a genius.
3) Collect management fees.

 

[AgaBoogaBoo]

Originally posted by: edro
Security is the only reason I work for a corporation.

I'd compare corporate employment to being the passenger in a car, while working for yourself is where you're the driver.

If you're the driver, you can choose to steer clear of obstacles. If you're just a passenger and not in control, your future is in someone else's control. If they feel you're adding too much weight in the middle of a race, they can toss you to the side. If the driver makes a mistake and steers off course, you go down with him.

It is comforting to have a steady paycheck, an expense account, cell phone, etc. all provided for by someone else, but it's not always a guaranteed position. If you own the business, you can do things to protect yourself.

On the whole, sure, grabbing a job at another company might be more secure for most people, but I wouldn't say that it's as great as people make it out to be.

 

[ponyo]

Originally posted by: IcebergSlim
So your tired of being pimped by your corporation. So you can jump ship and try to find a better pimp. Or you can take what you've learned try to pimp some hoes on your own....a difficult, tiring and lonely job. Or you can Be a Mack like Descartes and set up shop in another pimps game...many of the rewards that a pimp has with fewer down falls. In life there is only Pimps, Tricks, Hos and macks......only you can decide which one will make you most happy.

:laugh:

Guess I'm a pimp.