Career Tracker E-Book

Craig Britton

• Herausgeber: Snapshot Systems
• Kategorie: Fachliteratur
• Sprache: Englisch

Veröffentlichungsjahr: 2024

Beschreibung

We're not all born with all the ingredients for success, but there are many ways to progress your career. Career Tracker helps you calculate your future net worth as an employee and focus on the principles for entrepreneurial success.

Leseprobe

© Copyright, Y-Photography, Craig Britton.

No part of this book may be distributed, posted, or reproduced in any form by digital or mechanical means without prior written permission of the publisher.

Snapshot Systems, 2023 (Second edition)

This book would have not have been possible without the extensive knowledge provided by Nikolai Vasilev, a self-made millionaire in his 20s.

Legal Disclaimer

This book is designed to provide information and motivation to our readers. It is sold with the understanding that the publisher is not engaged to render any type of psychological, legal, or any other kind of professional advice. The content of each chapter is the sole expression and opinion of its author, and not necessarily that of the publisher. No warranties or guarantees are expressed or implied by the publisher’s choice to include any of the content in this volume. Neither the publisher nor the individual author shall be liable for any physical, psychological, emotional, financial, or commercial damages, including, but not limited to, special, incidental, consequential or other damages. You are responsible for your own choices, actions, and results.

Chapter 1: Introduction

The main goal of this book is to put light on the main principles in the career development related to financial growth (or decline) and the chances of success for various business endeavours. Each person’s financial status’ entry point is, more or less, predetermined and people don’t have the power to choose who they are at birth. They are, however, free to decide on what to focus on, like putting extra efforts to develop new skills or point their future in a certain direction by finding out the rate of growth and respectively the corresponding risk level.

Largely, we will focus on the individual income development and the way you could track and forecast the future amount of personal net worth. Strictly speaking, it’s not only your decisions and a way of life that shape your future, but also a result of the current economy situation and even the political system you are living under. That’s why, one of the aspect we are going to heavily explore is understanding the difference between income and amount of money required to cover your needs. If your expenses exceed your earnings, you obviously have a problem requiring action on your end.

When it comes to career development, there might also be a ‘location hold-up’, affecting one’s wealth growth as different areas don’t provide equal opportunities. Some areas are simply providing more development perspectives due to their economy and infrastructure. Sadly, in case you are located in an area with less developed economy and infrastructure, your chances of career growth and reaching a high level of financial net worth are not as likely as if you were to relocate somewhere more developed.

There are also differences between working a routine part- or full-time job and running a business, and you have to take different things into consideration. The main part of the book will be focused on the financial net worth prediction strictly for employees. If you are an entrepreneur, a separate chapter called Over the limit, is specifically for you. All predictions are statements about unclear events and the future is always comparatively uncertain. Nevertheless, you could always comprehend the most probable outcomes if you have enough data and tools to analyze it.

Chapter 2: Feel Like a Million Bucks

The scoring system we are going to use is a nine-grade net worth scale of measure. It is important for readers to remember that people’s score will not always improve at the same speed depending on how high or low it is. For example, if someone currently have a very low score, such as from 1 to 1.5 points, it is very easy to improve and move on to the next level, 2 to 2.5 points within a short space of time. However, if the score is already high, say, between 6 and 6.5 points, it is more challenging to become a 7 or 7.5. Think of it like weight lifting, when you first start it is very easy to see some improvement but the more muscle you have the more work you need to put in to reach the next level of muscle gain. Essentially, the higher you get, the more difficult climbing that ‘mountain to success’ becomes.

The wealth level is the core of the methodology while evaluating the employees’ and entrepreneurs’ current financial status. A lot of people don’t really put an exact number on their financial status, but in order to calculate where we are heading toward we need to know where we are now.

The net worth value equals the total assets and financial resources minus total outside liabilities such as loans and mortgages. We will divide all people into seven social groups (‘very rich’, ‘rich’, ‘upper-middle class’, ‘middle class’, ‘lower-middle class’, ‘poor’, ‘very poor’) and designate the 9-grade numerical system to evaluate the wealth level.

Current wealth score:

Approximate net worth

Approximate yearly net income (in USD):

Current status level:

(in USD):

9

$1,000,000,000+

and/or

~250M+

Very rich.

point

8.5

$250,000,000

and/or

~30M

Very rich.

points

8

$50,000,000

and/or

~5M

Very rich.

point

7.5

$10,000,000

and/or

~1M

Rich.

points

7

$1,000,000

and/or

~250k

Rich.

point

6.5

$650,000

and/or

~150k

Upper-middle class.

points

6

$250,000

and/or

~100k

Upper-middle class.

point

5.5

$150,000

and/or

~70k

Middle class.

points

5

$75,000

and/or

~50k

Middle class.

point

4.5

$50.00

and/or

~35k

Middle class.

points

4

$35,000

and/or

~25k

Lower-middle class.

point

3.5

$20,000

and/or

~15k

Lower-middle class.

points

3

$10,000

and/or

~10k

Poor.

point

2.5

$5,000

and/or

~5k

Poor.

points

2

$0

and/or

~3k

Very poor.

point

1.5

$0

and/or

~1k

Very poor.

points

1

$0

and/or

0

Very poor.

point