1. Although you may not feel like it, but the your entire life is still ahead of you.
The stakes are so low in your teens and early twenties. Hopefully you are fortunate enough to not have debt or serious responsibilities looming over you. Now is the time to take risks. When I was 20, I was asked if I would put school on hold for a management promotion at a regional gym. When I was 24 I was asked if I wanted to get into the mortgage business. When I was 26 I was asked to run a social club at nights for more cash per week than I made in a month. While they aren't entrepreneurial examples, they are examples of opportunities I passed on because I was afraid of the risks. I did however, spend the next 10 years working in a field I despised because of safe money.
2. Working 9-5 isn't the only way to make money.
A lesson I learned later than I am happy about, is that you can have any many "paychecks" as you can create. You can work your 9-5 to provide yourself with benefits and insurance, but there will always be certain hurdles and timelines that will keep you within certain earning bands (unless you're all commission). There's nothing wrong with working multiple jobs, especially if they are freelance. You should also be taking money out of your paychecks and paying yourself back in the form of a brokerage account. Create dividend and growth creating portfolios as soon as you can in your life.
3. You may already have insurance thanks to your parents.
Most Americans work a standard job for the health insurance. Here's a secret- You're not going to use it that much in your early twenties, and you may already be covered under your parents' health insurance.
4. Future employers will be impressed.
Every interview I've ever had always starts with the same two questions; tell me about yourself, and what makes you qualified for this position. Ideally, your business grows into your full time career. If it is slow rolling, you may find yourself taking a 9-5 to supplement your income. Hiring managers want to know what value you can bring to their organization, that you will take the job seriously, and that you are motivated.
5. Financial Independence!
Entrepreneurship offers the potential for financial independence at an early age. Successful businesses can generate substantial income, providing financial stability and the freedom to pursue personal and professional goals without being tied to a traditional career path. You will appreciate this as your assets grow and you want to enjoy life- travel without requesting PTO that has to be approved by someone who doesn't care about your "once in a lifetime trip." You'll also appreciate this when someone hours away at corporate decides it's time to "trim the fat" and you go through your first layoff.
Discover the power of taking risks early in life. With your entire future ahead, the stakes are low in your teens and twenties, offering the ideal time to embrace opportunities. Don't settle for the 9-5 grind – explore multiple income streams, invest in portfolios for financial growth, and leverage existing insurance coverage. Impress future employers with your diverse experiences and, most importantly, strive for financial independence, allowing you to enjoy life on your terms, without relying on a traditional career path.
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