Thinking about the coronavirus pandemic really got me reflecting on our children’s future in this tough world. How do we make sure they don’t just find jobs, but careers that are fulfilling? Here’s something I call career insurance.
Raising kids in major cities can be incredibly expensive. It’s a big financial commitment, and there’s always the worry they might struggle to find a good job despite all your efforts and investments. Imagine what parents go through, especially after hearing about celebrities who bend rules to secure their kids’ futures. It makes you think: what about the rest of us?
Career insurance could be the key to giving our kids a leg up in a competitive world.
Here’s a personal fear: the tough times my children might face could be even harder than what I’ve experienced. I believe in the idea that overcoming challenges can make you stronger, but constant rejection might just break their spirits. It’s sad to see people who’ve turned bitter because they lacked support growing up. Having a career that gives meaning to your life and being in a loving relationship can make all the difference.
So, how much would you be willing to pay to ensure your children have fulfilling careers and aren’t filled with anger towards the world? I’d go all out, short of bankrupting myself, to help my kids lead meaningful lives.
Here’s why. When I was growing up, my buddy Biff told me about his lonely afternoons at home. His parents were always at work, which led him to hang out with the wrong crowd. This took a toll on his self-esteem, especially after a crushing rejection from his crush. He felt neglected and hopeless, which affected his schoolwork and health.
The lesson here? Having at least one stay-at-home parent or a flexible job that lets you be there for your kids can make a huge difference. It can prevent them from feeling unloved and getting into trouble.
I once had an email exchange with a reader from Georgia, let’s call her Karen. She grew up in a home where hateful language was normal. When her dad lost his job and it was given to a minority, it only fueled their resentment. Karen ended up blaming her university rejection on affirmative action, which deepened her bitterness.
To combat this kind of bitterness and hate, it’s essential for parents to be financially independent. This way, you won’t stress over college admissions or job losses, and you might even prevent your children from developing racist attitudes.
The idea is to build a safety net by creating a business that allows you to work independently. This way, you can be there for your kids, both financially and emotionally. Use the time you have now, especially if you’re unemployed, to build something valuable.
Over the years, I’ve realized that the wealthier people are, the more confident and less envious they seem, because they have financial stability.
So, how much career insurance would you buy for your kids? My main goal since leaving my job in 2012 has been to preserve wealth. One strategy could be to sell my business, Financial Samurai, for the right price, even though it’s like selling my own career insurance.
Despite my optimism, I know the challenges my kids are likely to face: bullying, discrimination, tough job markets, and the existential crises of modern life. Keeping Financial Samurai might shield them from some of these issues.
In short, having a business that you can manage from anywhere is a strong safety net for your kids’ future. As they grow, I hope to teach them about the positive aspects of work that I’ve valued: the correlation between effort and reward, the flexibility to move between roles, and the satisfaction of solving real-world problems.
In conclusion, while we insure our cars and homes, why not think of career insurance as just another way to protect our family’s future? It’s about creating opportunities for them to earn and learn, rather than just handing them success. This way, we’re preparing them not just to survive, but to thrive in whatever they choose to pursue.
