when is enough enough, and links

Here’s a tough question:  when do you look at your industry or profession and admit it’s on a downward slope? I’ve worked with a number of people from the Midwest, for example, who realized that the jobs were gone and they weren’t coming back, so they relocated.  I’ve worked with people who worked in a certain industry and realized it was a dying industry, and moved on.  I’ve worked with people who were in declining job functions, in which their roles were increasingly outsourced, sent overseas or made redundant because technological efficiencies allowed one worker to do to the work of two.

One of the toughest things to judge in a career is when this point has been reached (or passed).  I felt it once, on Wall Street, when I – along with a lot of other consultants – realized that at least in the short term the fat days were over.  Trying to identify the point at which increased effort is no longer a benefit, but simply effort ejected out the window, is a tough exercise.

On to the links:

  • Do Your Kids Have Too Many Toys?: Yes, they do. A few good tips about reducing that ugly number.
  • Ignore Your Personal Finance Guru: I’ve mentioned before that I really “woke up” about personal finance when I read Robert Kiyosaki’s “Rich Dad, Poor Dad”, but I’d hardly recommend it as a good personal finance primer. It’s got some insights, but anyone who follows a personal finance guru lockstep is just begging for disaster.
  • Why the Long Term Growth of the Economy is Not Relevant to Investing
  • An Ode to My Son’s Piggy Bank: Good lessons on teaching kids about money. My family’s headed in the right direction on this subject, but we still have plenty of work to do.
  • Scraping by on $110,000?: FAM’s got the right idea here: 110K is a lot of money in small-town Mississippi (where I grew up). It’s nothing in New York City. I lived in both places, and one of the things I often lamented about was that the cost of living was not proportionately higher, it was exponentially higher in NYC. Sure, I got to live in NYC, but spending $3000 a month on a tiny apartment means that 110K salary is not “rich.” There should be a cost-of-living adjustment for taxes (or a fair tax…)
  • Don’t Like That Political Ad? Click On It.: Hah. Funny idea.
  • Money Smarts Changes: Well, having changed the blog name and adding an author and then dropping him, yes, I’d say there be some changes a-brewin’.

A few more good posts: