Treat Your Job As If You Won The Lottery
Do you hit the snooze button multiple times in the morning because you just don’t want to work? While at work, do you daydream of being somewhere else? Well too bad! You’ve won the lottery and you don’t even realize it!
Let’s say you make $50,000 a year. Divide your income by the current 4% risk free rate of return and you get $1,250,000! In other words, if you have $1,250,000 sitting in the bank right now earning a 4% rate of return, you’re making your current salary of $50,000 a year. Not bad winning $1,250,000 huh? Now take your income, and divide it by 4% (0.04) and let me know how much you’ve won!
It doesn’t matter what job you have now. Just know that the job you do have is coveted by a tremendous amount of people. This includes my first job mopping McDonald’s egg bits at 6am. My manager told me I was lucky to wear the purple and black (colors of the uniform) because he turned down 8 other candidates over the past month. I just felt lucky I could stuff my face with as many FREE apple pies when he wasn’t looking!
WHINE AND CHEESE
What is it about the water cooler that attracts the whining crowd? I swear, every time I go to the pantry to get a drink of water, all I hear are folks complaining about someone, or some aspect of the job they hate.
“I can’t believe Jerry is taking time off from work right now when we are so busy!”
“How come he gets a raise and I don’t?”
“I might as well be working for peanuts with the bonus they gave me!”
“Can’t believe we hired that dimwit. What was he thinking?”
There’s one colleague who literally complains in French for 45 minutes everyday non-stop! It’s like Pavlov’s Dog. As soon as we hear her French, we’re conditioned to think she’s complaining even though we don’t understand a word she’s saying. Complaining is like an infectious disease that invades that permeates and breaks teams apart. It’s got to stop!
IF ONLY PEOPLE KNEW HOW GOOD THEY HAVE IT
One in ten people are out of work, and there are plenty more who would HAPPILY
do your job for less. Despite double-digit unemployment, misery pervades. Some blame it on having to do more work for the same pay since there are 10% less people to help contribute. Others think their jobs are beneath them. Well if that’s the case, just move!
Job hopping is a common phenomenon at the beginning of the year. The interesting thing is that once a hopper, always a hopper. You can see resumes with five jobs in as many years, making you wonder what the heck is wrong with the person. More times than not, it’s because the candidate always believes the other side is better. There comes a breaking point where an employer will stop giving you the benefit of the doubt for jumping around so much, and then you’re stuck in oblivion.
Every now and again, I get the case of “Greener Grass Syndrome.” I wonder what it’s like to do something else, or be someone else. Oh how wonderful they’ve got it. Then I snap back to reality and count my blessing with my existing employer. Everything is relative, and it’s important to treat your existing job as if you hit the big one.
CONCLUSION
If you have a job, just know that you are the winner among a large pool of quality candidates. Once you change your mindset, you’ll stop complaining and start flourishing again.
Readers, why do you think some workers complain so much about their jobs even during times of economic stress? Do you think men and women complain equally as much? With the economy still in a fragile state, why don’t people realize how good they have it?
* The risk free rate of return is simply the amount of money you can earn risk free. 4% is used because you can earn 4% in an FDIC-insured 5-yr CD currently. The 10-yr yield is also considered a RFR at 3.65%. Yes, we have to do something at our jobs to make money unlike the interest income from savings. That said, I’m trying to highlight a different mindset so disgruntled workers stop taking their jobs for granted.
Regards,
Sam @ Financial Samurai – “Slicing Through Money’s Mysteries”
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Sam,
I just have to say GREAT POST! This post should be mandatory reading for ALL.
“With the economy still in a fragile state, why don’t people realize how good they have it?” – there’s a billion dollar question for which I have no answer.
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To be honest, I think many people complain just to have something to talk about. The problem is after too much whining, we start to believe it.
I fell into this trap every so often, and then I have to effectivly reboot myself so that I’m more stress free…
If you can get an office with no whiners, that would be heaven, but unfortunately, it’s typically not that way.
I wonder how much more productive businesses would be without the whining segment? Whining drags down moral, and creates a stressful environment…
Nice article Sam
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What a great post! Americans have such a sense of entitlement. Those of us who are employed are very lucky.
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My situation is a little different. As a sub teacher who would like a full time job (the vacation benefits are terrific, by the way!) I can’t stand to hear teachers complain about “how dumb” their class is. For instance, one particular teacher (who I’m subbing for right now as I type) has been complaining ALL YEAR about her class being the “low ones”. (I guess that’s why I’m subbing for her now, she’s near retirement and done for the year I think.) From my personal perspective, her kids aren’t low, they just haven’t been challenged.
So why do teachers complain about the students? Same reason people complain about their jobs, the grass is always greener syndrome. But for teachers, it’s always that the other grade level teacher has the “bright ones.” I think I agree with Money Reasons, it gives them something to talk about!
Little House´s last blog ..Yakezie Group Round-Up
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Jason @ MyMoneyMinute Reply:
March 4th, 2010 at 8:35 am
Maybe you should remind them that they get 180 days off each year! LOL
I’m in a similar situation as you, but on the legal side. I’m an attorney looking for full-time work, but do project work to pass the time. There’s lots of complaining on my projects, but honestly, most of it is self-deprecating humor.
Jason @ MyMoneyMinute´s last blog ..Wine On A Budget: Oak Creek
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admin Reply:
March 4th, 2010 at 11:45 am
Careful about self-deprecating humor! For every joke, there is a truth behind it! :)
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Hey Sam,
I think a lot of people complain about their jobs is because they do work very hard and there were times when people were working less but receiving less recognition and making more money.
Plus, there’s always more money to be made and it could always be better (but it could also be worst). Chalk it up to the human condition.
Mike´s last blog ..Automation: Why You Don’t Have to Feel Bad About Spending Ever Again
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admin Reply:
March 4th, 2010 at 11:46 am
Tell us more why you want to join the banking industry!
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Great post! I never understood it either. I hate when I used to have to go to Court (for work not that late saturday night) and you run into these MISERABLE CLERKS. I always thought to myself life is way too short to be that miserable all the time.
I think this all has to do with human nature and the urge to be better (however that is defined by the person) and the realization that it won’t be done.
Evan´s last blog ..My Favorite Saying and a Cool New Personal Finance Blogging Group
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Sensei, you know I love my job. This post does me no good!
Things can always be better but remember, commiserating with coworkers is fun. The dance of “my job is so tough” sympathy is just part of office life.
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admin Reply:
March 4th, 2010 at 11:47 am
You are one of the lucky few who loves their job and should feel extremely lucky, lucky duck!
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Geek Reply:
March 4th, 2010 at 8:36 pm
Oh I do. gloating is just a perk ;)
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I like comparing salary to a passive income stream – I do this myself all the time.
Some people though are just allergic to jobs and being told what to do. I’m definitely one of them. I’m thrilled still after a decade to be out of the 9-5 office life, even though I occasionally miss the office banter.
From my experience in offices though I fully agree with you — most people don’t know how lucky they are. Most of them wouldn’t survive 2 days fending for themselves as freelancers or with a start-up business.
Monevator´s last blog ..Buffett: Why the property bubble bursting was a good thing
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admin Reply:
March 4th, 2010 at 11:48 am
That’s a great way of looking at things… salary to passive income! I’m assuming the greater the passive income percentage the better if the entire pie is growing bigger.
Tell me more about being out of the office life. Didn’t realize it, or did I? What is your primary source of income?
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Monevator Reply:
March 6th, 2010 at 2:14 am
I deliberately keep it murky because I want to maintain the split between my work life and my mysterious double-life as a super-blogger in a cape. Or something! Similar to you I guess.
It’s a mix of things, a combination of small freelance jobs and ongoing consultancy for 4-6 clients. Plus a bit of share trading (which just gets lobbed back into the Monevator hoard) plus of course my ongoing residual income stream from investments, which also gets re-invested into the hoard!
Plus $1 a day from blogging of course! ;) (Okay, making a bit more from blogging now, but it’s still about 1/20th of the same time/effort to day job work).
Monevator´s last blog ..Volatility, inflation, and asset class returns
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admin Reply:
March 6th, 2010 at 7:57 am
Ahhh, a man of many skills and income sources! You should write about they more on day, and create a pie chart for all to see! You can just lable the income something random!
I’m sure you’re making at least $2/day from blogging, so stop being modest! lol.
“Ongoing residual income from investments” sounds like you are already a super wealthy man!
Pls buy me some steak and eggs next time I’m in London OK? Thnx.
“The interesting thing is that once a hopper, always a hopper.” Maybe true, but responsibility has caused me to holt and stay put now for… 6 years. And yes, many time I feel this way, “There comes a breaking point where an employer will stop giving you the benefit of the doubt for jumping around so much, and then you’re stuck in oblivion.”
I think hopping is because I don’t want to settle for less. Hopping until I find the perfect fit for me. I know doubt will hop again, but it will be to start my own business. I have a pretty cushy career right now that I wouldn’t give up for anything less.
Nice perspective on things in this post. ;)
Money Funk´s last blog ..Introducing Ally Interest Checking
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admin Reply:
March 4th, 2010 at 11:49 am
Awesome! 6 years is a long time. A lot of us have to hop around until we can find that ideal scenario. I think after 4-5 years at one place, you’re free to hop around again!
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FS – you are a math magician! I love how you take common numbers, do your vodoo, and give us a completely new perspective.
A few notes…
Workplace complaining IS dangerously infectous and like quicksand – the more you fight it, the more trapped you become. Like quicksand, the only escape is through support. Using something else to brace and pull yourself out of the muck.
Until we all have jobs where we do zero work and get paid millions per month, complaining will always be prevalent. “More for less” should be our US motto. Reminds me of a simpson’s episode, Homer visits a hospital and says, “THIS guy has a machine that breathes FOR him? And here I am using my lungs like a SUCKER!”
On the statistic…
Wouldn’t load, but is that still the current US average? Of course, I won’t argue the number, but only pose the question do we know the breakdown by industry? While construction/real estate could be 3/10 unemployment, doctors/accountants could be 0/10.
As David (MBA Briefs) will likely comment on, this then would be a flushing of the system to make more efficient.
FinEngr´s last blog ..Financial Lessons From Engineering
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admin Reply:
March 4th, 2010 at 11:52 am
Great Homer Simpson quote! haha. Anything beyond basic math for me, and I’m lost. So I’m glad you like the voodoo! It’s just a change in mindset. When we change how we look at things for the better, we gain a great deal more.
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Thanks for the reminder. Some people are miserable at their job for good reason; I do give them the benefit of the doubt at first. Maybe their boss is terrible or they’re under-appreciated, etc.. But after a while, you just have to avoid the whiners. They drag you down.
I wrote some posts about how to avoid becoming the bitter old person in the corner cubicle ( you know the type!) and got some interesting responses. I realized that I am fortunate to have a good work environment and others are not as fortunate or less pro-active or more “stuck” due to family obligations and mortgages.
oilandgarlic´s last blog ..Food Heaven
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admin Reply:
March 4th, 2010 at 11:50 am
Feel free to paste your links in your comments I don’t mind at all. It helps navigate! Would like to have a read on avoiding being a bitter old person ;)
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If I could afford to I’d pay for the privilege of doing my job. I really love it that much. Admittedly I am a complainer. I complain about all the crap I hear about our company from people that are unwilling to do anything about it. If you are not going to take action then shut up!
I really think most people complain because it allows them to avoid recognizing their own faults. Last year, for a period of time, people around me were appreciative but then they became acclimated to it. Today they are right back to their complaining ways! So soon we forget.
LeanLifeCoach´s last blog ..5 Ways People Waste Money
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admin Reply:
March 5th, 2010 at 8:32 am
Wow, you would PAY to do your job? Now I’m really envious, as you’ve got it MADE!
Complaining not to recognize their own faults, that could be! Insightful. So soon we forget indeed.
I enjoyed your latest post on wasting money Greg-san.
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Why don’t we look at the other side of things. Some workers are qualified for their position and have experience matching that necessary for the job. There companies reap the benefits of their primed skills.
People are saying that we should be lucky that we have jobs. But we aren’t. Most people have to work hard and go to school for those JOBS. It’s not luck, it’s dedication.
Even in an economic turmoil where the unemployment rate is at 10%+, large corporations don’t want to let go of their best workers. And these best workers should never feel that their job is more important than their happiness.
Kevin Khachatryan´s last blog ..15 Simple Ways to Make Extra Money
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admin Reply:
March 5th, 2010 at 8:34 am
Yes, it’s a symbiotic relationship worker and company. I can take once in a while complaining, but not incessant complaining!
Some have lost their jobs through no fault of their own i.e. a company going bankrupt, some senior corrupt official scandal etc. We need to empathisize.
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I think it’s all about scapegoating and the innate human want for new experiences… afteralll we got done with earth (well most of it) and we are having a crack at space now… Human’s want new experiences like it’s a drug to fuel the next high…. The daily grind of work just does not do that for many of us but we are too embedded in society to change it.
As for scapegoating I mean that the fact that something is not content within scapegoats itself onto immediate surroundings… often this is the work place.
I’ve been through it and I finally cracked. I decided I would not do something if I moaned too much about it, or I would quit moaning and look at it from a 3rd person to assess how much of a deal it really was.
Say you have to stuff 20k envelopes…. So what! No stress, just pop headphones on and go…. The old me would have been very negative about such a task.
Gladly I don’t have to do stuff like that anymore as I work online for myself, but I do have mundane things such as link building for sites, writing articles on subjects that I am a little sick of, etc etc, doing some undesirable client design work… So occassionally I still moan but I try and remind myself of how lucky I am to be where I am… I live in Egypt, I work on the internet and I finally have a reasonable handle of my cashflow (no savings yet but getting there).
Sorry I rambled a bit :), thanks for an awesome article.
Forest.
Forest´s last blog ..Get Over The Fear Of Cooking At Home…
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admin Reply:
March 5th, 2010 at 8:36 am
Hey Forest, all rambling is welcome here! That is pretty darn neat you live in Egypt, and are pretty much location-independent with your job it seems. Very inspirational and exciting to do. I’d love to read more about your adventure!
Also, are you paid to help a site link build? It all seems so foreign to me. Best, Sam
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Forest Reply:
March 7th, 2010 at 2:12 am
I’m paid for graphics and wordpress coding mostly. Occasionally I get jobs which include promotion, backlink strategies and search engine optimization.
Forest´s last blog ..Cut The Fat – Losing Things You Don’t Need
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admin Reply:
March 7th, 2010 at 8:58 am
Very cool! You have two skills which I have NONE of! haha. There is a Yakezie Google Groups if you’d like to join. The discussion is robust. Your work will probably be part of the 2nd challenge in 5 months, when we’re all good and ready. I don’t want people over thinking links and SEO right now. Would love to get your future insight!
admin´s last blog ..Sometimes Saving Money Is About Principle
Sorry I’m a little late weighing in on this topic, which is pretty timely for me. The whining and complaining where I work is at an all-time high, and I would love to forward your post to everyone in my department and tell them it was mandatory reading.
Most of the guys in my department make really good money for the area (sub-6 figures and over) and don’t have bachelors degrees, just formal certifications. When I hear them complaining about money it’s all I can do to keep from screaming.
It creates a really lousy work environment when everyone’s unhappy about something or other all the time.
David @ MBA briefs´s last blog ..How long are you going to live?
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admin Reply:
March 5th, 2010 at 8:38 am
Fellow Yakezie Challenger, thnx for your thoughts. Please do send this article to your colleagues so they can shaddup already :) 6 figures and complaining in this environment, with most not having bchelor’s degrees is impressive. No room for complaining there!
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Monevator Reply:
March 6th, 2010 at 2:15 am
“A really lousy work environment”.
Leave. Seriously, the water is much better somewhere else.
Monevator´s last blog ..Volatility, inflation, and asset class returns
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admin Reply:
March 6th, 2010 at 7:58 am
Yeah, tell them to shove that hundred grand income a year where the sun don’t shine! lol
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A good paying job with benefits is not an easy thing to come by, and a lot of people take that for granted. At the same time however, some employers instill negative work environments, and I can see why many people leave positions for lower paying jobs just to keep a piece of their sanity.
Nice thread
The Rat´s last blog ..BIN Revisited: From Tantrum to Tantalization
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admin Reply:
March 6th, 2010 at 7:59 am
Do you really think employers purposefully instill a negative work environment though? That can’t be true, can it? Maybe there’s one rally bitter boss who is like a cancer, but I don’t think the corporate culture is purposefully like that. But perhaps.
What a great redesign of your site, Rat. Nice.
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@FS – I would like to think that the vast majority of employers do not purposefully instill a negative work environment but sometimes do by having a lack of good systems in place. Did you hear about the company in France that is being investigated because so many of the employees have committed suicide? I’m not saying the employer is directly responsible here (although it could prove to be the case) and this is ‘allegedly speaking’, its just that because people spend so much time at work, its important that the ‘workplace’ is positive ‘enough’.
On a side note, thanks for the props on my site; its greatly appreciated and I’m appreciative of your presence there. I want in on the challenge man…let me in! I left a comment on that huge thread :0)
Just waiting for the green light to post the thread
Cheers
The Rat´s last blog ..BIN Revisited: From Tantrum to Tantalization
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admin Reply:
March 6th, 2010 at 11:35 am
Hi Rat – Lack of good systems is a good term. I did read about that company in France with suicides. That’s nuts! Imagine if you were the HR person there or tried to recruit people!
Welcome to the Yakezie Challenge! I see your badge, and your round ups, and everything. We’d be happy to have you on board. Shoot me your e-mail address and I’ll have Greg-san from Eliminate The Muda be in touch. Let me respond to the original thread, as that’s where they are tracking too.
thnx
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Perfect, will do! And thanks.
The Rat´s last blog ..BIN Revisited: From Tantrum to Tantalization
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That’s a neat and interesting analogy between salary and passive income from lottery winnings.
Forex Manager´s last blog ..Daily Technical Analysis
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A good reminder about being grateful. It’s easy to complain about how we hate our jobs – even when we really do and miss the fact that there are many that are looking for something to do.
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I was hesitant to post links back to my blog but since you said it’s okay, here goes:
http://oilandgarlic.wordpress.com/2010/02/19/say-no-to-bitterness-tips-to-improve-your-9-to-5-work-life/
Hope I did this right since I’m new to blogging.
You might wonder why a food/simple living blogger writes so much about career/finance. I just think that too many simple living bloggers focus only on saving money and not enough on making money, investing, negotiations, and career. Without some money-savvy, they’re never going to achieve the simple life that they want. IMO, negotiations is the most important skill because there will always be people and companies that will take advantage, or benefit from, a person’s ignorance and/or lack of negotiating skills. Even if you plan to move to the countryside someday (the pinnacle of the simple living dream), it’s important to know how to negotiate!
oilandgarlic´s last blog ..Simple Joys…Coffee Breaks
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admin Reply:
March 9th, 2010 at 2:56 pm
Sure, link away, it’s no problem here. Will have a read! Yes, saving money is actually the easy way. Making money is the harder route!
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The reality is for 90% of people, their expenses rise to match their income. So no matter how good they have it, it’s little difference to another job paying 2/3rds the amount (other than the shock of making the adjustment back down). And the corollary is 90% of the eager replacements for a job would soon be just as bitter once their lifestyle adjusts.
Those who can break out of this mentality of course may standard better chances for advancement. (Although many who can break out often strikes out on their own anyways.)
MossySF´s last blog ..Tour group vacations
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