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The Compound and Friends

The Benefits of a Regular Paycheck (Tadas with @FerventFinance)

The Compound and Friends

Josh Brown

Business News, News, Investing, Business

4.72.2K Ratings

🗓️ 20 August 2019

⏱️ 10 minutes

🧾️ Download transcript

Summary

“I have something to admit – I enjoy receiving a paycheck twice every month. Some people are willing to give up the sure thing to pursue a passion project, launch their own business, or take a year off to travel the world. While I’m envious of those with such conviction, I just can’t pull the trigger.” Kevin (@ferventfinance) blogs at Fervent Finance and is the co-host of the Reversion to the Mean podcast with Justin Castelli. Tadas got Kevin on the phone Skype to talk about a recent post of his entitled “It’s Okay to Like Your Paycheck.” While the media is focused on Instagram influencers, FIRE advocates and startup CEOs, there is a whole world of people out there doing the do. Kevin talks about how a “regular job” has a host of benefits that go beyond a regular paycheck. 1-click play or subscribe on your favorite podcast app   Subscribe to the mini podcast on iTunes or Spotify   Enable our Alexa skill here - "Alexa, play the Compound show!"   Talk to us about your portfolio or financial plan here: https://ritholtzwealth.com/   Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer: https://thereformedbroker.com/terms-and-conditions/ Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Hey, Kevin, it's Tottis.

0:02.0

Hi, Tottis.

0:03.0

Hey, I'm on the line with Kevin who blogs at Fervyn Finances, and is the co-host of the Reversion

0:08.4

to the Mean Podcast with my buddy Justin Kostelli.

0:12.0

I asked Kevin on to talk about a recent post of his entitled,

0:15.6

It's OK to like your paycheck. So much of what we see online is the celebration of the extraordinary

0:22.1

or the unusual post. of the

0:25.0

celebration of the extraordinary or the unusual posts about people retiring from the workforce

0:27.0

that the age of 30 people working remotely from faraway beaches

0:31.0

and maybe most commonly we get stories about entrepreneurs and

0:35.2

startup founders who have had success or have had an IPO.

0:41.1

So I thought Kevin's post was kind of a nice antidote to that and that you know that's certainly

0:46.8

Not the experience of most people so Kevin what kind of prompt you do to write this post? Yeah, I think being involved in the financial

0:55.1

Twitter community can lead some people to develop a little bit of envy when you

1:00.8

know we're talking with CEOs and founders of companies who have taken on risks and as a result

1:06.8

have become very successful. And if you take a step back I think you'll realize that a lot of that is survivorship bias so you see the

1:14.9

successes on Twitter the people who are succeeding if you started a business and

1:20.4

failed it's a lot harder to come out and say you know I took this route it didn't work out for me and

1:23.0

I took this route, it didn't work out for me.

1:25.0

I have to go try something else now.

1:28.0

So I think it just kind of was a realization for me that this doesn't always,

1:32.0

you know, entrepreneurship doesn't always work out for everyone and it's not all it's always you know cracked up to be all the time I know it can you know give people some financial freedom some time freedom and be able to dive

...

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