School, Career, Kids and Real Life

I don’t have the stats but experience and life tell me that a lot of working adults drop into roles that have little to do with subjects studied in school. Take my situation as an example, I picked up my first accounting textbook years after my second degree. Until then, I had no idea how much taxation and even basic bookkeeping affected each and every working adult. I did years of maths but it may surprise some to know that you don’t have to be a maths genius to excel as an accountant. I only discovered an affinity for it when I was researching work I could do as a freelancer whilst bringing up two kids.

 

Talking of freelancing, nothing I did at school prepared me for self employment; everything was geared towards being employable. School forgot to mention that not everyone would make a ‘good’ employee.

 

Today, my kids and I will be covering the murky world of brick and mortar business. Essentially, we will look at ways of carving out a financially sustainable future (including early retirement) based on property investment, rental and tenancy management, and the minimum/maximum effort needed to make it happen.

We will be getting our hands dirty by DIYing a commercial property to get it ready for letting out. We will discuss returns on investments, how to acquire and pay off mortgages, what securities are, the importance of legal agreements, dealing with profits and finally, accounting.

Re accounting, one of the fabulous things about home education is that we don’t have to wait for a day a year to do the superficial ‘take your kids to work’ thing; mine know exactly what I do, they meet the clients I work with, they see me at work daily, they help out when I’m swarmed, and they know that every penny they spend is a transfer of money earned by mum to another person or organisation.

I wish I knew about business whilst still at an impressionable age. I wish I knew of things that could be done on the side so that (in my future) ample leisure time and resources could be spent on amazing things I now crave, such as the arts and travel.

To correct my early years’ oversights, my goal is to expose the kids to real life opportunities, as well as the mundane careers supported by various academic curricula, so that they can select and discard as they see fit.

I’m interested in other people’s views, but in the meantime, better go get ready for today’s real life graft.
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2 Comments (+add yours?)

  1. faydabrown
    May 08, 2017 @ 10:53:37

    Phoenix – I’ve really enjoyed this post. I’m a freelancer – have two jobs one of which is alo property investment and development. The other as an academic and writer which is really a hobby considering the finanacial rewards. My kids know about tenants, rents, compound interest, good debt versus bad, the perils of working until May for the tax man and how to make one pound into two. I’m hoping they will be entrepreneurial in their adult lives and become generalists and not specialists. Good luck with your project. Be pleased to hear more about it. Best wishes
    Fiona

    Like

    Reply

    • Phoenix
      May 08, 2017 @ 22:30:58

      Thanks for stopping by, Fiona. It’s great to see that there are others doing something similar. My boys and I had a very interesting day today, covering topics ranging from the laws protecting tenants to why land appreciates but (regular) cars depreciate. There were a lot of funny moments, hilarious questions and serious discussions. Seeds have definitely been sown; what they do with the plants (in true home ed style) will be up to them. Project real world continues… Thanks again. Phoenix.

      Liked by 1 person

      Reply

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