Recently by James Altucher: How Not To Pay for Your Student Loans
This was going to end badly. I would play chess all day in my office with the door locked. My boss would knock on the door and I would put my headphones on and ignore him. People would complain that the software I wrote didn’t work. My boss would say, “where were you yesterday” and I would say, “it was a Jewish holiday” even though there was none and he would say, “well…tell us next time if you leave.” It was bad behavior. I was a slave trying to escape but I didn’t know how. I wanted to start a business but I didn’t know what. I wanted to create something but I would play games all day, burning up the fuel in my brain.
You can’t make money without selling something real. You can’t make something real without first imagination manifesting itself in your head. You can’t have imagination without surrendering yourself to an idea that you want to create something of value to other human beings.
And now it’s too late. Now the course of history has finally written it’s next chapter. There’s no more bullshit. I’m going to tell you why you have to quit your job. Why you need to get the ideas moving. Why you need to build a foundation for your life or soon you will have no roof.
1) The middle class is dead. A few weeks ago I visited a friend of mine who manages a trillion dollars. No joke. A trillion. If I told you the name of the family he worked for you would say, “they have a trillion? Really?” But that’s what happens when ten million dollars compounds at 2% over 200 years.
He said, “look out the windows”. We looked out at all the office buildings around us. “What do you see?” he said. “I don’t know.” “They’re empty! All the cubicles are empty. The middle class is being hollowed out.” And I took a closer look. Entire floors were dark. Or there were floors with one or two cubicles but the rest empty. “It’s all outsourced or technology has taken over for the paper shufflers,” he said.
“Not all the news is bad,” he said. “More people entered the upper class than ever last year.” But, he said, more people are temp staffers than ever.
And that’s the new paradigm. The middle class has died. The American Dream never really existed. It was a marketing scam.
And it was. The biggest provider of mortgages for the past 50 years, Fannie Mae, had as their slogan, “We make the American Dream come true.” It was just a marketing slogan all along. How many times have I cried because of a marketing slogan. And then they ruined it.
2) You’ve been replaced. Technology, outsourcing, a growing temp staffing industry, productivity efficiencies, have all replaced the middle class. The working class. Most jobs that existed 20 years ago aren’t needed now. Maybe they never were needed. The entire first decade of this century was spent with CEOs in their Park Avenue clubs crying through their cigars, “how are we going to fire all this dead weight?”. 2008 finally gave them the chance. “It was the economy!” they said. The country has been out of a recession since 2009. Four years now. But the jobs have not come back. I asked many of these CEOS: did you just use that as an excuse to fire people, and they would wink and say, “let’s just leave it at that.”
I’m on the board of directors of a temp staffing company with $600 million in revenues. I can see it happening across every sector of the economy. Everyone is getting fired. Everyone is toilet paper now.
3) Corporations don’t like you. The executive editor of a major news publication took me out to lunch to get advice on how to expand their website traffic. But before I could talk he started complaining to me: “our top writers keep putting their twitter names in their posts and then when they get more followers they start asking for raises.”
“What’s the problem?” I said. “Don’t you want writers that are popular and well-respected?”
When I say a “major news publication” I am talking MAJOR.
He said, “no, we want to be about the news. We don’t want anyone to be an individual star.”
In other words, his main job was to destroy the career aspirations of his most talented people, the people who swore their loyalty to him, the people who worked 90 hours a week for him. If they only worked 30 hours a week and were slightly more mediocre he would’ve been happy. But he doesn’t like you. He wants to you stay in the hole and he will throw you a meal every once in awhile in exchange for your excrement. If anyone is a reporter out there and wants to message me privately I will tell you who it was. But basically, it’s all of your bosses. Every single one of them.
4) Money is not happiness. A common question during my Twitter Q&A, asked at least once a week, is “should I take the job I like or should I take the job that pays more money”.
Leaving aside the question of “should I take a job at all”, let’s talk about money for a second. First, the science: studies show that an increase in salary only offers marginal to zero increase in “happiness” above a certain level. Why is this? Because the basic fact: people spend what they make. If your salary increases $5,000 you spend an extra $2000 on features for your car, you have an affair, you buy a new computer, a better couch, a bigger TV, and then you ask, “where did all the money go?” Even though you needed none of the above now you need one more thing: another increase in your salary, so back to the corporate casino for one more try at the salary roulette wheel. I have never once seen anyone save the increase in their salary.
In other words, don’t stay at the job for safe salary increases over time. That will never get you where you want – freedom from financial worry. Only free time, imagination, creativity, and an ability to disappear will help you deliver value that nobody ever delivered before in the history of mankind.
5) Count right now how many people can make a major decision that can ruin your life. I don’t like it when one person can make or break me. A boss. A publisher. A TV producer. A buyer of my company. At any one point I’ve had to kiss ass to all of the above. I hate it. I will never do it again.
The way to avoid this is to diversify the things you are working on so no one person or customer or boss or client can make a decision that could make you rich or destroy you or fulfill your life’s dreams or crush them. I understand it can’t happen in a day. Start planning now how to create your own destiny instead of allowing people who don’t like you to control your destiny. When you do this count, make sure the number comes to over 20. Then when you spin the wheel the odds are on your side that a winning number comes up.