In my freshman year of high school, I got my first paying job. I was a TA (teacher’s assistant) for the junior high school computer lab. It was a minimum wage job paying $5.25 an hour, and as every self-respecting high school kid would’ve done, I added up the hours that I needed to work in order to afford certain items on my wish list. Very quickly I realized how much faster I would be able to afford that latest video game or those new basketball shoes IF ONLY I MADE MORE MONEY!
At this point in my life, I thought of wealth the way most of the world thinks of it: I exchange my time in the form of work for money, and I earn more money either by A) working more hours, or B) getting paid more per unit of time, or C) doing both. So goes the proverbial “rat race” to “maximize earning potential” because the more I EARN, the RICHER I am. Strive to get paid more. This is the path to financial riches, right?
Well…not quite… [Read more...]