Focus on a Career that Allows you to Work for Yourself: Advice I Will Share with My Kids

I wish someone would have told young, ambitious me one truth – the more you earn, the more you worry about what you could lose.?A friend of mine was telling me about how he has been talking to all sorts of successful people, and without fail, each of them has said at one point or another that they wish they could give it all up, downsize and live a simpler life.?The ascension to the top was thrilling, but once you are on the trajectory, the satisfaction plateaus, and the fear of losing it all eventually overpowers the joy.?This is especially the case when you are not in full control –specifically, working for someone else.?Does this mean we should throw all ambition out the door??No. For me, however, the lesson I will share with my kids is that when you think about a career, really think about the security that comes with it and whether you have the inner strength to handle the uncertainty that could ensue.

There have been studies about a magic salary amount you need to be happy.?When Princeton ran a study in 2010, it was $75,000.?These days, with inflation, that number is likely around $100,000.??Other studies refute this altogether, saying that happiness does not plateau at a certain amount.?I posit that it’s not about the number but rather how the number is earned.?There is no question that having enough money to not live paycheck to paycheck creates some sense of happiness.?At the other end of the spectrum, having so much money that you never need to worry about debt must be thrilling.?However, for everyone else, even after six figures, if you are not in full control of the security of that paycheck, that happiness ebbs and flows.?If you work for a company that could one day decide to go in a completely different direction, yanking that salary away, that happiness could be completely overshadowed by constant worrying.?It is for this reason, that we all should encourage our kids to pursue careers that give them some independence, or at least skills/credentials that they can fall back on in case they find themselves in a forced career transition.?

At the high end, this could be a very professional career as a physician, lawyer, or engineer.?It also, however, could be a skilled trade such as an electrician, home inspector, plumber, or cosmetologist.?What do all these fields have in common??They are regulated and require a license.?What else do they have in common? In each of these fields, you can take your credential and eventually open your own private practice or sole proprietorship.?Basically, you can work for yourself.

This does not mean that we should move away from all non-regulated work.?However, we should be encouraging more credentials for everyone.?Even in business, earning a certification, especially in a high-growth field, can be liberating.?For example, a software engineer with certifications in cybersecurity could do well working on their own.?Even a businessperson with a very developed skillset (SEO/SEM, Data Analytics, etc.) could consult or freelance.?A recognized credential will make it much easier to do so.? Or, if you have the capital, start or buy a small business – something you can use your business skills to grow – even if it’s on the side.

As a CEO, I deal with this anxiety all the time.?Aside from worrying about the people I work with and serve, I always worry about situations that could lead to disruption for my family. Part of me does, at times, wish I would have gone the medical school route (that was the original plan).?At the same time, this job is a dream come true and one I am blessed to have. It also does not hurt that I am a CEO of a company that focuses on helping people enter regulated fields.? Because of this, my message to everyone is – do not assume that any high-ranking individual is happier than you are.?Prioritize security over the title.?Earn a license or gain a skill.?Have a fallback plan.?Always.??