CareerCareer adviceCareer tips

When Does The Money-Making Career Start!

By November 5, 2016January 30th, 2019No Comments
J. Kelly Hoey - Build Your Dream Network

Question: My career coach has advised me that you don’t start making “real money” until your 40s…Is there truth to that? Should I be patient and work on my expertise and network in the meantime?

My reaction: Interesting perspective!

And frankly, the advice feels a little old school to me with a more than a hint of truth when you think about the times in our lives when we need to accumulate (buy a home or car) as well as reduce debt (i.e. student loans). We’re also in an interesting economic time when concepts of ownership have changed. Think of car ownership. With a myriad of flexible transportation options (Uber, Lyft, ZipCar), who needs the expense of owning a car? Why own something when you can rent, barter or borrow it? On the flipside, we’re now more willing to leverage assets (our cars or extra bedrooms) for income. We have more choices now on how we choose to spend our money on big-ticket items, which is also a lifestyle choice (more assets vs more experiences or more freedom). The bottom line: I believe “real money” comes from expertise, networks and investing your time (plus money) in something you’re passionate about — so these are activities you should also be working on, always.

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J. Kelly Hoey

J. Kelly Hoey

J. Kelly Hoey is a problem solver who believes that most professional challenges—whether funding, landing a board position or getting a new job—are solved by tapping into networks.Kelly is a popular speaker on networking, community building and investing issues, especially as they relate to women, and has worked with the IEEE, PGA, Bank of America, Apple and countless others. Follow Kelly on Twitter @jkhoey and on Instagram @jkellyhoey and join the #BYDN community at www.buildyourdreamnetwork.com