Asked by Anonymous

I’m a 24 year old graduate. Should I quit my job as a private tutor (home-based, 40 students), earns me 6k and can develop into tuition ctr or find job that pays 3.5k? Money VS social life (since I work on nights and weekends, and I’m home-based)?

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    • Happy Haris
      Happy Haris
      1 Answers, 4 Upvotes
      Answered on 20 Aug 2018

      You're the person that can only answer this question! (sadly)

      Do you think you are enjoying the process?

      Are you doing this for long term?

      Is the reason starting this tutoring the same as the reason you are continuing it?

      You can always find money else where, but your fulfilment and happiness, I guess, is the main point of living.

      Hopefully this help.

      And I myself want to be a private tutor. And that's quite an impressive feat at your age. I would like to learn from you on how you started and such.

      Anyway, maybe take a breather and think about what you really wana do. Good luck on your future endeavours!

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    • Charmaine Ng
      Charmaine Ng
      57 Answers, 146 Upvotes
      Answered on 06 Aug 2018

      Hi and great job there!

      To be able to manage that many students and have a rather steady income at 6k is no mean feat.

      Do you already have an idea on how to develop it into a tuition centre and stand out amidst the many competitions?

      If yes, I would say go for it and don't worry about finding a job that pays you 3.5k.

      Truth is when working for others you may not always get what you want - promotions, pay raise, recognition etc.

      You may even get nose-led by recruiters, peers and bosses so if you already have a good system that's paying you and with the potential to acheve something more in your life; go for it.

      Working in a corporate doesn't mean it's 9-5. Most of the time OT comes into play so I'd rather develop it into something I can call my own instead if I were you.

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    Luke Ho
    Luke Ho, Kick-Ass Financial Services Consultant at Trillion Financial Planners
    127 Answers, 225 Upvotes
    05 Aug 2018

    I'm a big believer in hustling. At your age, I made half what you made and I didn't have such an impressive system.

    A social life is overrated. What is necessary is balance, priortization and professional segregation. When you're supposed to spend time with family, do that. When you're supposed to hustle, do that.

    The reality that I'm seeing is that you've created an impressive system for yourself at a young age.

    Being someone in your shoes presently as a self employed Financial Advisor, I can only professional advise you on two fronts.

    1) Quantitative Happiness - Investing in yourself presently, between your system and present wealth, has been fruitful so far. What are the potential gains and losses as you look into the future? No one can really answer that for you here, but you've clearly been considering the losses. Can they be mitigated in the future with gains? Important note: Do not f it up and do something like miss your future childrens soccer games or work when your dad is in the hospital. Money is supposed to give you more time eventually, not less

    2) Relative Income - Someone who works 40 hours a week for 3.5K is arguably better off than the clown who works 80 hours a week for 6k. Many of my clients make the mistake of only considering the Gross Income and not quantify the value of their time, which you can never get back. You need to strike a healthy balance between relative $/hour and gross income so that you get to well, have your social life.

    Best of luck, and you can always consult me on other financially related matters if you felt this was useful to you.

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