Career For Passion Or Money?
Is Following Your Passion Really Worth It?
Heyy friend!
How are you, and how are things at work? I hope the mid-week break helped you recuperate and breathe a little! Speaking of work, I’ve been meaning to ask you this for an awfully long time, so tell me:
Here’s what’s in store for you:
Monthly Market Review - September 2024
The Cost Of Following Your Passion
Binge Of The Month
Lots Of Thought- Provoking Info Within 3.5 Mins
‘Sup with the market
'Twas another great month on D-Street as Indian benchmark indices hit fresh record highs in September, closing with almost 2% growth each by month-end! 📈 As shown in the market moves graphic, the performance of gold and silver was also pretty commendable. 🥇✨ Foreign Portfolio Investors (FPIs) have been net buyers of Indian equities, pumping in over ₹57 crore in September. 💰🚀
However, this positivity might take a hit in October, as the upcoming US elections are expected to increase volatility in equities worldwide. 📉🌍 While the festive season usually brings lots of hope for the Indian stock market, 🎊 volatility tends to spike around US presidential elections. But don’t worry—the stock rally might return once the elections conclude.🚀📊
Choosing Between Passion and Money: What Makes Financial Sense?
I have been in finance all my life, and choosing it as a career path made logical sense. But over the years, I yearned to branch out into something of my own, and I wanted to help more people understand finances better. At many points throughout your career, you’ll ask yourself the classic “Should I follow my passion or opt for a job that pays well?” question.
Well, making this decision would be very personal since many variables are involved, but let me help you look at this from a financial perspective. I was able to let go of a stable, well-paying job and do this with Sayali because I got a few basics out of the way—and perhaps this could help you, too!
1. Secure Your Financial Base First 🔐
Before you go after your passion full throttle, ensure that you're financially stable. If you have a family depending on you, this is crucial. A steady job with a good income lets you pay off debt, create an emergency fund, save, invest, and build a financial buffer. Once your basics are covered, you can start thinking about transitioning to a passion project.
2. Passion Can Be a Side Hustle Initially 💡
You don’t have to choose between your passion and financial security right away. Keep your passion as a side hustle while working a stable job to explore and grow your interest without jeopardizing your financial health. When you’ve built enough savings or passive income, you can make the switch with a lot less risk.
3. Think About Long-Term Wealth 💰
It’s tempting to chase your passion early on, but think about your long-term financial goals. Do you want to buy a home, support your parents, or save for your child's education? A higher-income job can help you hit these targets faster. Once you’re financially comfortable, you’ll have the flexibility to take on risks—like starting that business or grabbing that dream job.
4. Passions Change, Financial Security Doesn’t 🎯
Your interests might evolve, but solid financial planning remains a constant. Saving up and securing yourself financially can never go wrong. It will ensure that you’re ready for anything—whether your passions shift or life throws you a curveball. Having that security gives you the freedom to take your time figuring out what truly excites you.
“Follow your passion, listen to your heart,” “Do something you love and you won’t work a day in your life" is the most mindless advice one could give. If you take a closer look at the person giving you advice like this, you'll see them practically selling their soul doing something they hate, let alone tolerate. Choosing your career path is a very individualistic process. Weigh out your options and keep it that way!
🔖 Binge of the month
I recently binge-watched Nobody Wants This and it has A-level performances & writing that any rom-com lover would cherish. 💖 And, of course, anything with Adam Brody? Just shut up and take my money! 😍💸 This binge-worthy series stole my heart and took me right back to The O.C. days! 🥰📺
🍸 Cocktail Pe Charcha
Is it too overwhelming to research & plan your investment? Say no more, we can personally guide you into mixing the perfect financial cocktail to manage your money!
We all want to wake up every day excited about what we do. But when it comes to making life choices, especially career ones, it's important to think about how they affect not just you but your financial stability—and potentially your family's. So, before diving headfirst into your dream career, look at it pragmatically and figure out how you can balance passion with financial security.
To Pragmatic Decisions🥂
Niyati❤️