Asked by Anonymous
Asked on 17 Jul 2019
25 this year. My current situation - I have about 3k debts, monthly financial commitments of around $300 with zero cash savings. My passion has always been in the Financial industry. However, in 3 years time, I will be getting my BTO. Given my current situation, should I just take the plunge and start doing insurance full-time? Need some advice. Thank you!
Finance industry is volatile. It is not that glamorous and rosy as what people thought it would be.
The key is to stop that mindset of taking ‘shortcut’. Be realistic and do within your limits.
Now you have the goal of getting BTO in 3 years time, you should start looking at your financial planning and start having other achievable goals e.g. every month save $xxx for mortgage and $xxx for renovation, cut down on other expenses etc.
Sales job will generate high income IF you are hardworking, got that wit and discernment to make it high up there. Nonetheless, it all still takes time, so be aware of timeline.
Be prepared to learn a lot, and have less time for yourself if you are going sales / entreprenuership.
I would ask you to understand yourself first. What is your current skillset? Which are the money making 1? Who will pay for your skillset? This is the most important to understand. If not, you can't even negotiate in a job interview.
Then from there, go towards your financial goal. IF you can't type out and convince anyone, who will be confident that you can achieve it? IF you are inexperienced, go and take experiences now. Be it in intern etc etc. 3k debts is easily settled ($500 a month X 7 months to include horrendous interest rates).
But always have a goal in mind.