It is much easier for anti-social people to be financially successful. They don't like being around people and so it's easy for them to work several jobs, save every penny and live in basement apartments eating Mr. Noodles. It's probably preferable! Now, if you marry another introvert then you can have two incomes to either pay off a house or save up for a retirement fund in your thirties.
This is a huge accomplishment if you can re-direct all of your extra time and money into working and saving from your twenties to your thirties, you'll be rich. Cut out ALL lifestyle expenses like travel, dinners, or anything else to spend your money on and it would take just over $4,000 a month for 10 years to save $500k. If there were two of you and both of you enjoyed a simple apartment and playing video games, that wouldn't be that tough.
And if that is your jam, it's not a sacrifice at all.
What about all the popular people? The cool kids who are super social and need to be around people and have fun? Extroverts need to have a chance at financial abundance too. Social people can be good with money and still have nice things and go out too! Here are five tips that the rest of us can use to harness our fierceness to make sure that we are financially successful too.
1. Budget for everything you want in life: Make sure that a home and retirement savings are coming off your pay cheque first and then fix an amount that you can spend on dinners, travel and going out. If you take care of your assets they'll take care of you later on in life. By fixing an amount for fun you'll never over spend and will not be missing out on life. When you've saved for a home, car, trips, etc. you can get them -- just need the money first.
2. Be social at work events: Being a socialite can get you ahead. If you want to get into a certain industry or succeed at your chosen career socialize at industry events, fundraisers or work events. You'll be out meeting people and still building your professional reputation. Plus the drinks are normally free at those events.
3. Make money off of your popularity: More and more hotties on Instagram are monetizing it by doing sponsorship. If you have over 10k followers why not make more money off of your fabulous lifestyle. Be sure to "Stay classy San Diego"! If you love fashion, write about it or style clients. If you are a food or wine connoisseur consult with restaurants or event planners.
4. Diversify: Buy a home you can afford and contribute to your RRSP for the long run. You don't want to be all stock if the stock market crashes or be all house going into a deep recession, especially if you have a renter. Diversify among your investments and you'll survive market fluctuations better than being all in one. Diversification is the only "free lunch" in investing.
5. Work in Sales: The sales part of any organization is the most lucrative part of any company. You can be out meeting people, selling and socializing and making great money too. Plus, the President is normally picked from the sales team since they have the social skills and swagger to run the business.
The expectation is that social people will be the ones with zero savings, loads of debt on BMWs and flashy condos that are rented. None of that has to be true! Buying trendy lofts in the "up and coming" areas of the city, budgeting for partying, automating RRSP contributions, and using your ah-mazing charm and whit can get you ahead in a lucrative career. Popular people can be financially savvy too!
Follow David Lester on Twitter: www.twitter.com/iheartmoneyman