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Adult Children
Reply to "What do you do when your kids pursue their passions and are now broke as adults?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I think it’s okay when they are young, but when they are older and don’t have the comforts of middle age (house, family, retirement income) they might become bitter and resentful. I think “passion” is oversold in this country. Work a day job and have your passion on the weekends. [/quote] But you'll never be as good as someone who dedicates themselves full-time to your passion. If you're okay with that, then the day job to pay the bills is the right way to go. In most cases, talent and passion take root at an early age (particularly in athletics), but there are those who are extremely successful as a "2nd Act". https://www.forbes.com/second-acts/#1fc4db454618[/quote] This is a “3rd way”…the folks profiled here made substantial $$$$s and then pursued their passion…I assume the thinking was I will risk a small %age of my net worth pursuing and if it doesn’t work out, my lifestyle won’t really change. Interestingly…the one woman who was a former Victoria’s Secret model is interesting because I gather you could say that pursuing modeling was a passion project. I would imagine there are many models that barely survive each year like any everyday actor, and only a very small %age make substantial $$$s. John Legend is perhaps one of the few examples of an artist that had a real day job (BCG consultant) but also worked his butt off to make it in music. It’s hard to keep your eye on the prize when you start enjoying the trappings of the day job.[/quote]
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