You Can Do It Personal Finance

Can you really do it?

Sure, but probably not the way you’re reading about in that personal finance tips article.

Real Do It Yourself Personal Finance

I’m going to be honest. As a professional financial advisor and Certified Financial Planner for several years, I never helped anyone quit their job to pursue their passion, or side business. I helped plenty of people retire, but who kept working at something smaller, easier, or better liked. I could have helped someone do that, but that isn’t actually why people come to financial planners, or at least that’s not why people who are willing to pay for professional advice come to financial planners.

The trick to financial planning is that it is all about achieving long-term financial goals.

Long-term. That’s the catch. A lot of people are not interested in long-term. They want to get rich quick, but there is a problem. After a few decades of various get rich quick schemes being pedaled around, most people in their prime working years no longer believe in get rich quick. For them, it’s about get successful quick by retiring early, or passive income, or quitting to start their own business. The thing is though, they want to do it quick.

Financial independence is never quick (without some outside help.)

This brings us to a money pet peeve I can’t stand. It’s the personal finance article about how someone — someone young, of course — was able to quit their job, or drop out of school, or pay off their student loans, or whatever, and chase their dream– QUICKLY!

And you can too! Just read this article about how they did it!

personal finance mom and dad

Mom and Dad Finance

The reality is that these articles aren’t bad, per se, but they are misleading. There will be some great advice in them. Save more money. Cut down your spending. Make a plan. Those are great advice.

The thing is that most of these things take time, and people aren’t interested in taking time, so there is a shortcut… Mom and Dad.

  • Live with your parents
  • Get a loan from your parents
  • Better yet, get a gift or “investment” from your parents

See it? It’s usually in the middle of the article. It’s just one sentence, like it’s no big deal, except it’s more than a big deal, it’s everything. Without that one thing, there was no quick success. There is no “how they did it.”

Without living with your parents for that one year, cutting expenses and saving more money is going to take a lot longer to work since you can’t cut your expenses as much, and thus not save as much.

Without getting that loan from your parents, those start up costs are going to be out of reach, at least for a few more years.

Without Mommy and Daddy, it becomes long-term, and everyone hates long-term.

Bank of Mom and Dad

Unfortunately without the added help from the Bank of Mom and Dad, these articles are nothing more than Personal Finance 101. These are the same things you have known since you opened your first bank account, or cashed that first paycheck. Save money. Live beneath your means. Invest. Research. Have a plan. Execute your plan.

I’m sorry, but there is no way around it. Those things take time.

That being said, there is nothing wrong with taking advantage of whatever tools and resources you have available. If you have a rich uncle that loves you, that’s great. If you can live at home for a couple of years in a nice apartment over the garage, do it! But, when it comes to finding out the secret way to get successful quick, there isn’t one. Just like there is no way to get rich quick.

It takes money to make money.

It takes time to accomplish success.

There are ways to skip ahead, but they aren’t secrets.

About The Author

Brian is a professional freelance writer in Denver, Colorado. He is a former financial advisor and Certified Financial Planner. In addition to Finance Gourmet, he writes on several websites and works as a freelance financial writer. You can find Brian’s meandering online money making exploits at MakeMoneyWritingOnline.com. Brian does not live with his parents, but he is a work at home dad in his 40s.

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