Saturday, December 8, 2007

What Makes a Difference!

(I have high EQ)
What Makes a Difference!
"I make $7.25/hr and tips. Some days I walk out with $4 in my pocket, occasionally $40. On average I make about $1000/month". That was the neighborhood hair stylist, about 25 years old and full of energy. But making $12,000 a year and working in a profession where career growth is limited.

This conversation got me wondering - what does it take for a person to find a financially rewarding career? Is it education, is it nurture, is it the company you keep, is it your personality ... I don't know the answer but here are some thoughts.

Education - A quality education from a brand name institution opens some doors for you. And the whole higher education process gives you perspective and a good grounding in basic concepts. Plus there is a proven correlation between higher education and higer earning potential. Read more about the benefits of higher education at the College Board.

Nurture - Kids pick up what they see. Parent's work ethic and vocational satisfaction will have an impact on the kids. The friends they have and societal norms will have an impact. Will Smith's father instilled some confidence in his son when he asked Will and his brother to build a wall. Will's lesson learned - "Just lay one brick".

Personality - Some people are more aggressive, some more ambitious, some more adventurous - probably something to do with our genes. How many siblings does a child have and where in the pecking order one ends up presumably has an impact on ones personality.

Plus - there is new research on the impact of our initials on our success in life. You have probably heard of EQ (emotional quotient) and what about the influence of TV and the list goes on.

So here is my take on this situation. (1) A good education is usually an excellent stepping-stone. (2) Parental influence is impactful. I want to be a role model for my kids and hopefully impart a good work ethic and value set to them. (3) Encourage my kids to seek options and opportunities that expose them to various possibilities in life. Check out this story in last weeks Barron's.

What are your thoughts on this subject?

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