How to Select the Right Career

Here’s a straightforward equation for making this decision:

A fulfilling career = Income + Enjoyment + Contribution to Society

If your job meets all these criteria, you’re on the right track. Here's how to get started—Research is key.

Over the next four decades, you'll spend approximately 80,000 hours in your career. How much time should you dedicate to researching this choice? Based on a rough estimate, that would be about 8,000 hours. Unfortunately, most people do not come close to investing that amount of time in career research.

While it's unrealistic to expect you to spend 8,000 hours, taking a gap year for exploration can be a valuable investment—resulting in only 2,000 hours of commitment, but worth every moment.

Money Research - Understanding POT Score

Kristy Shen, in her insightful book "Quit Like a Millionaire," introduces the concept of the pay-over-tuition (POT) score. This metric assesses the income you can expect to earn after factoring in your tuition costs. For instance, software engineering typically has a higher POT score compared to degrees in arts or political science. Use platforms like Glassdoor or Levels.FYI to verify the POT scores for your desired career paths.

Experiment with Skills that Bring You Joy

Consider taking a gap year. Imagine investing six years in medical school only to discover that the field isn’t right for you. A gap year offers a practical glimpse into the realities of various careers without a hefty investment in time and money.

Once you’ve analyzed the POT scores for different career options, pick two or three skills associated with those careers and seek opportunities that allow you to earn during your gap year. Select skills that genuinely interest you, so you can excel in them.

Possible Skills to Explore:

• Learn coding to develop websites, mobile applications, or backend systems for small businesses.
• Hone your video production and editing skills.
• Acquire business skills to help grow small companies into franchises.
• Become a real estate agent and delve into property investment.

Master these skills and consider monetizing them. You could transform these side hustles into full-time careers or use this period to gather insights for future decisions.

It might seem counterintuitive, but the more you explore, the better you’ll understand your preferences. Focus on mastering one skill at a time for a duration of 3–6 months. If you find joy in it, continue; if not, shift your focus to another area of interest.

Next, consider which degree aligns best with your professional aspirations. Remember, a degree may not be necessary if your gap year efforts yield substantial results.

If you’re still in high school and can afford the time, begin developing these skills before graduation.

Key Elements of Job Satisfaction: Autonomy, Support, and Commute

A fulfilling career offers autonomy, the opportunity to work with supportive colleagues, and minimal commute times.

To find autonomy, your best bet may be self-employment. While this can be intimidating, especially if past experiences have instilled fear of failure, it’s crucial to remember that youth is the ideal time to take calculated risks.

Alternatively, seek employment that fosters independence and encourages critical thinking. You’ll recognize you’re in the right position if you leave work feeling energized each day.

Following Your Passion with Purpose

Should you pursue your passion for binge-watching Netflix? Yes, but with a twist—you must complement that interest with a unique, hard-to-duplicate skill. For example, if you enjoy films, create high-quality YouTube videos featuring movie reviews with professional editing and a consistent upload schedule that stands out.

This approach requires hard work but allows you to focus on what you love while generating value for others.

Surround yourself with positive influences. The more ambitious your goals, the more support you’ll need. If you sense that someone close to you isn’t supportive, seek accountability from others who share your vision.

Embracing Career Changes

It’s perfectly acceptable to change careers after several years. In today’s world, adaptability is essential for success.

The Joy of Helping Others

Human beings thrive on helping one another. Engaging in meaningful work can invigorate you, as no one can endure a job that feels thankless.

Consider roles in mission-driven companies or startups that directly contribute to global wellness. Even in high-paying positions, strive to be the team member who inspires others and takes the initiative to uplift the entire group.

Affordable Degree Options

Unless your goal is to become a surgeon or rocket scientist, degrees are increasingly optional. Before committing to hefty student loans, consider alternatives to graduate with little to no debt.

Options include:

• Attending community college for the first two years and then transferring to a university, ideally with scholarships to cover remaining tuition.
• Pursuing a degree abroad, which can be financially advantageous.
• Exploring military programs that assist with student loans.

There are also lucrative jobs available that don’t require a degree, such as software engineering, Salesforce analyst positions, real estate, or content creation.

Kickstarting Your Financial Independence

Start saving at least 10% of your income and consider opening a Roth IRA or a 401(k) if available.

Warren Buffet began investing at age 10 and has continued to do so well into his nineties. In contrast, another investor who started at 30 and stopped at 60 accumulated only 1% of Warren's wealth.

The magic of compound interest is a powerful ally. A mere $100 invested monthly can grow to $800,000 over 50 years if invested wisely.

If you’re unsure where to begin, consider these four must-read books to build your financial knowledge:

• "A Random Walk Down Wall Street" by Burton G. Malkiel
• "The Millionaire Next Door" by Thomas J. Stanley and William Danko
• "The Simple Path to Wealth" by J.L. Collins
• "Work Optional" by Tanja Hester

Enjoying Life While Building Your Future

Your teenage and early adult years are some of the most beautiful times in your life, so take the opportunity to enjoy them. There’s no rush! If your gap year consists of traveling and self-discovery, that’s perfectly fine. Just remember to carry enriching literature along the way; you are defined by what you read.

The societal norms that dictate what it means to be a "good citizen" or "successful" can often be misleading. Understanding these rules and knowing when to break them is key to achieving a fulfilling life.