As of this writing, I’m 27 years old and on track to be financially independent by 40.
However, this would have never been possible if I didn’t have a passion for finance.
So whether you are considering majoring in finance (like I did) or wanting to learn more about finance, today I’ll be sharing my story on how becoming a total finance nerd has shaped my life.
Let’s dive in.
Why I Chose to Major in Finance
To be honest, it was never my plan to major in finance.
In fact, I always thought I was going to attend medical school and become a pediatrician.
However, halfway through college I started objectively analyzing the different outcomes/risks associated with going down that career path:
- Average medical school debt ~ $203,062
- Average medical school acceptance rate ~ 5.5%
- Entry level earnings with a biology degree (my degree at the time) ~ $40,688
Not liking the idea of playing high stakes poker with my life, I began exploring other career paths.
The next semester I enrolled in a business finance class. My rationale was that even if I didn’t pursue a career in finance, I didn’t know jack shit about money and would at least be able to make better personal financial decisions.
On the first day we learned about the time value of money; I was immediately hooked and switched my major to finance that day.
As I continued my coursework, I began to see a whole new world.
Similar to how physics attempts to explain how the universe works, I was learning about the laws and theories governing this artificial world of money.
However, I didn’t just want to read about it. I wanted to see it in practice.
So I started a small textbook brokerage business in order to make some extra money. I then opened up a Scottrade account (RIP) and began investing based on what I learned in the classroom:
At that point, I knew I had a major passion for finance.
So much so that despite changing majors, I was able to graduate one year early with my Bachelor of Science in Finance!
Why I Chose Not to Work in Finance
During my last semester, I was offered a job with a wealth management firm.
To be frank, the compensation package was more than what I could have possibly imagined.
However, there were A LOT of strings attached. Including but not limited to regularly working 80 – 90 hours a week and always being on call if a client needed something.
So despite my passion for finance, I declined.
It wasn’t an easy decision. I had learned so much while shadowing financial advisors and wanted to help others with achieving their financial goals.
However, at the end of the day I was unwilling to trade all my waking hours for a bigger balance in my bank account. I was instead more interested in becoming a time millionaire in order to achieve personal goals in my life such as:
- Finding the love of my life (check)
- Having & raising children (including fur babies) (check)
- Establishing a community garden to grow food for the homeless (in progress)
At the end of the day, I didn’t want to pursue an early retirement if it meant potentially jeopardizing other meaningful life goals that were important to me.
How My Passion for Finance Changed My Life
Despite not working in finance, my passion for finance forever changed my perspective of money.
In college, I was investing money for no particular reason. I was just trying to make more of it because more money = more happiness, right?
That all changed when I graduated and learned about the Financial Independence Retire Early (FIRE) Movement. In a nutshell, financial independence is building the life that you want to live, and then saving for it.
The more I read about this movement, the more I realized that money is simply a tool to help us reach our goals. That’s it.
With that being said, in order to to reach my goals, I began implementing FIRE principles including:
- Decreasing my big 3 expenses
- Increasing my income
- Consistently saving & Investing a portion of my income
6 years later, here is the result:
Final Thoughts
So what ended up happening to me?
I accepted a job as a project manager making significantly less. But hey, at least I get every other Friday off!
And while I chose not to pour gas on my path to FIRE (obligatory dad joke), I have been able to apply what I’ve learned in order to be in the financial position that I am in today.
And I still get to pursue my passion for finance by writing for Time Value Millionaire 🙂
Thank you for reading! 🙂
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