What makes money now adays?

skegpro · Aug 13, 2018

Had a young fella ask me what he thought he should go to school for or invest in for a career, and you know I had to really stop and think.

10 years ago a would have had a bunch of wisdom for him but I am kinda a loss right now.

Any ideas?

09 arctic cat m8 · Aug 13, 2018

Get on welfare with a disability and live happy gotta be ****ed in the head to wanna work now a days lol, i don’t know to be honest anything to do with social programs or a guard at the remand Center will make you money, always stay busy anyhow

imdoo'n · Aug 13, 2018

smoke, whiskey n cheap whores, yer golden.

skegpro · Aug 13, 2018

I was gonna say politician.
Good pay, great benefits, bankers hours.

skegpro · Aug 13, 2018

imdoo'n said:
smoke, whiskey n cheap whores, yer golden.

That's what he should be spending his money on lol.

moyiesledhead · Aug 13, 2018

Seriously though, both my son and my nephew are heavy duty techs and doing very well if he's interested in trades.

imdoo'n · Aug 13, 2018

maybe already has. or needs more $$$$

Bnorth · Aug 13, 2018

Something that can't be easily automated. Which leads to the opportunity to support the automation industry in something along the lines of robotic service, PLC programming, electrical.

niner · Aug 13, 2018

You can order a brick of Fentnal for$8000 from China. Turns into 33 million into street value once it’s cut down. If he doesn’t want to be a scumbag drug dealer tell him to go into carpentry. There are no carpenters in Alberta.

skegpro · Aug 13, 2018

Bnorth said:
Something that can't be easily automated. Which leads to the opportunity to support the automation industry in something along the lines of robotic service, PLC programming, electrical.

Instrumentation? Lol

LUCKY 7 · Aug 13, 2018

my son starts at Sait in 2 weeks for instrumentation.

skegpro said:
Instrumentation? Lol

skegpro · Aug 13, 2018

LUCKY 7 said:
my son starts at Sait in 2 weeks for instrumentation.

Good career for sure.
Lots of jobs for instrument techs in the states right now.

lilduke · Aug 13, 2018

Does he want to work for a company and climb the corporate ladder or would he rather own the ladder?

If it were me I'd tell him to learn about sales,buisness,taxes,insurance,realestate,stocks,bonds and law. Learn to understand financial statements and difference between assets and liabilities. Skip the student loans and find a mentor. Sacrifice some comfort and security when you are young. invest in assets, build assets and don't be average. Make a financial plan and stick to it. Set goals and write them down.

Do all this and he would be a very wealthy man and not have to be stuck in the 9 to 5 rat race for the next 50 years.

skegpro · Aug 13, 2018

lilduke said:
Does he want to work for a company and climb the corporate ladder or would he rather own the ladder?

If it were me I'd tell him to learn about sales,buisness,taxes,insurance,realestate,stocks,bonds and law. Learn to understand financial statements and difference between assets and liabilities. Skip the student loans and find a mentor. Sacrifice some comfort and security when you are young. invest in assets, build assets and don't be average. Make a financial plan and stick to it. Set goals and write them down.

Do all this and he would be a very wealthy man and not have to be stuck in the 9 to 5 rat race for the next 50 years.

So do basically everything thing they don't teach you in school.

I agree 100%
You can live a comfortable and prosperous corporate life, but they probably are not going to pay you more than they need too.

lilduke · Aug 13, 2018

skegpro said:
So do basically everything thing they don't teach you in school.

I agree 100%
You can live a comfortable and prosperous corporate life, but they probably are not going to pay you more than they need too.

Yes. School teaches you to be an employee and if you are lucky you will get a high paying job. It's a waste of money for most people.
College is there to make colleges and banks and the government money. Not to teach you how to make it.

Imho

Caper11 · Aug 13, 2018

skegpro said:
Had a young fella ask me what he thought he should go to school for or invest in for a career, and you know I had to really stop and think.

10 years ago a would have had a bunch of wisdom for him but I am kinda a loss right now.

Any ideas?

Kind of a tough question to be asked, and to be asking. Lots of different opinions.
Whats the kid actually interested in? Whats his strengths?

Lildukes reply actually reminds me of one of our summer students at work. I overheard someone ask her what she wants to do when she gets out of school. Her reply “ I want to be a CEO of a oil company” , great answer actually, but now she needs to figure out how to achieve her goal.

Looking at our industrys and where they may be heading, if the young fella has a technical aptitude. Power engineering, any industrial electrical ticket, instrumentation, PLC programmer.

Im a Millwright, and now im getting more into the reliability side of it. Which includes Vibration, Thermal imaging, balancing, and Ultrasound monitoring of rotating equipment.

ferniesnow · Aug 13, 2018

IMHO, pretty much any of the trades. There is always a need for the work and a trade is a good thing to fall back on. Entreprenurialship is always good if a person has the drive and desire to work for themselves. You are forced in assets building, learning about taxes, and future business building. But this route is not for the lazy and the procrastinator. There is a lot of attitude needed to be successful.

On another note any of the professions will lead to a pretty good life (nursing, education, engineering, business, law, medical, etc.) but then again there are limits as to the earning. A lot of professionals have business interests in another field that makes their money rather than their day to day living.

skegpro · Aug 13, 2018

Caper11 said:
Kind of a tough question to be asked, and to be asking. Lots of different opinions.
Whats the kid actually interested in? Whats his strengths?

Lildukes reply actually reminds me of one of our summer students at work. I overheard someone ask her what she wants to do when she gets out of school. Her reply “ I want to be a CEO of a oil company” , great answer actually, but now she needs to figure out how to achieve her goal.

Looking at our industrys and where they may be heading, if the young fella has a technical aptitude. Power engineering, any industrial electrical ticket, instrumentation, PLC programmer.

Im a Millwright, and now im getting more into the reliability side of it. Which includes Vibration, Thermal imaging, balancing, and Ultrasound monitoring of rotating equipment.

Trade schools are all oversubscribed right now though.

Record numbers of 4th power engs.
Basically need a 2nd to get a job right now.

What's Journeyman rate now adays?

Caper11 · Aug 13, 2018

skegpro said:
Trade schools are all oversubscribed right now though.

Record numbers of 4th power engs.
Basically need a 2nd to get a job right now.

What's Journeyman rate now adays?

Depends on the industry and its physical location, oil and gas in the edson area is 50+, same as coal, fort mac is 60+, forestry is 40+. I dont know what power generation pays, but there is talk of a 800mw nat gas fired plant to be built in the edson area.

freeflorider · Aug 13, 2018

lilduke said:
Does he want to work for a company and climb the corporate ladder or would he rather own the ladder?

If it were me I'd tell him to learn about sales,buisness,taxes,insurance,realestate,stocks,bonds and law. Learn to understand financial statements and difference between assets and liabilities. Skip the student loans and find a mentor. Sacrifice some comfort and security when you are young. invest in assets, build assets and don't be average. Make a financial plan and stick to it. Set goals and write them down.

Do all this and he would be a very wealthy man and not have to be stuck in the 9 to 5 rat race for the next 50 years.

Totally! This works, made my first wife very rich. Now I’m back at it trying to fill my jeans before Im Worn down.
My best advice, pay for em, don’t merry em....I know I know but it’s true.

What makes money now adays?

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I'm doo-ing it!

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