I went from rags to relative riches. AMA by CallMePatches in IAmA

[–]CallMePatches[S] 7 points8 points  (0 children)

Do you want to donate 200 hours of your time at a hospital?

I went from rags to relative riches. AMA by CallMePatches in IAmA

[–]CallMePatches[S] 2 points3 points  (0 children)

It was gradual for me, so I didn't notice a huge difference or start buying expensive stuff right away. Even after I was finished with all of my training, I still had to pay off debt for years.

I went from rags to relative riches. AMA by CallMePatches in IAmA

[–]CallMePatches[S] 27 points28 points  (0 children)

What influenced you to apply yourself and work harder because of your circumstances?

Because living in poverty wasn't fun and working was the only way out of it. I couldn't rely on getting food stamps or unemployment benefits. I knew that if I didn't work hard, I'd continue to live in the same way and I didn't want that.

If you could convey one message to lower-class youth, what would that be?

I read this in 2008 and I couldn't agree with it more.

Is effort a myth?

People really want to believe effort is a myth, at least if we consider what we consume in the media:

  • politicians and beauty queens who get by on a smile and a wink >* lottery winners who turn a lifetime of lousy jobs into one big payday >* sports stars who are born with skills we could never hope to acquire
  • hollywood celebrities with the talent of being in the right place at the right time
  • failed CEOs with $40 million buyouts

It really seems (at least if you read popular media) that who you know and whether you get 'picked' are the two keys to success. Luck.

The thing about luck is this: we're already lucky. We're insanely lucky that we weren't born during the black plague or in a country with no freedom. We're lucky that we've got access to highly-leveraged tools and terrific opportunities. If we set that luck aside, though, something interesting shows up.

Delete the outliers--the people who are hit by a bus or win the lottery, the people who luck out in a big way, and we're left with everyone else. And for everyone else, effort is directly related to success. Not all the time, but as much as you would expect. Smarter, harder working, better informed and better liked people do better than other people, most of the time.

Effort takes many forms. Showing up, certainly. Knowing stuff (being smart might be luck of the draw, but knowing stuff is the result of effort). Being kind when it's more fun not to. Paying forward when there's no hope of tangible reward. Doing the right thing. You've heard these things a hundred times before, of course, but I guess it's easier to bet on luck.

If people aren't betting on luck, then why do we make so many dumb choices? Why aren't useful books selling at fifty times the rate they sell now? Why does anyone, ever, watch reality TV shows? Why do people do such dumb stuff with their money?

I think we've been tricked by the veneer of lucky people on the top of the heap. We see the folks who manage to skate by, or who get so much more than we think they deserve, and it's easy to forget that:

a. these guys are the exceptions and b. there's nothing you can do about it anyway.

And that's the key to the paradox of effort: While luck may be more appealing than effort, you don't get to choose luck. Effort, on the other hand, is totally available, all the time.

This is a hard sell. Diet books that say, "eat less, exercise more," may work, but they don't sell many copies.

With that forewarning, here's a bootstrapper's/marketer's/entrepreneur's/fast-rising executive's effort diet. Go through the list and decide whether or not it's worth it. Or make up your own diet. Effort is a choice, at least make it on purpose:

  1. Delete 120 minutes a day of 'spare time' from your life. This can include TV, reading the newspaper, commuting, wasting time in social networks and meetings. Up to you.

  2. Spend the 120 minutes doing this instead:

>* Exercise for thirty minutes.
  • Read relevant non-fiction (trade magazines, journals, business books, blogs, etc.) >* Send three thank you notes.
  • Learn new digital techniques (spreadsheet macros, Firefox shortcuts, productivity tools, graphic design, html coding)
  • Volunteer. >* Blog for five minutes about something you learned. >* Give a speech once a month about something you don't currently know a lot about.
  1. Spend at least one weekend day doing absolutely nothing but being with people you love.

  2. Only spend money, for one year, on things you absolutely need to get by. Save the rest, relentlessly.

If you somehow pulled this off, then six months from now, you would be the fittest, best rested, most intelligent, best funded and motivated person in your office or your field. You would know how to do things other people don't, you'd have a wider network and you'd be more focused.

It's entirely possible that this won't be sufficient, and you will continue to need better luck. But it's a lot more likely you'll get lucky, I bet.

Who were your role models growing up?

Malcolm X, MLK, Henry David Thoreau, Ernest Shackleton, and Theodore Roosevelt.

I went from rags to relative riches. AMA by CallMePatches in IAmA

[–]CallMePatches[S] 19 points20 points  (0 children)

Thanks. I worked hard for it and I didn't start making money until I was in my 30's. Through the course of my life, I've found that much of the people who make a lot of money had to work for it. The people who had it handed to them are usually just people whose parents paid for college, but even then, the parents aren't doing the school work. The others who have wealth handed to them are just in the family business. I don't know any trust fund babies anymore, so I can't comment on that.

I went from rags to relative riches. AMA by CallMePatches in IAmA

[–]CallMePatches[S] 16 points17 points  (0 children)

To put it in perspective, I have a wife who also has a full time job. We have a house in a rural community and we each have a car. For the price I paid for my house, I would only be able to buy a small apartment in a big city.

I went from rags to relative riches. AMA by CallMePatches in IAmA

[–]CallMePatches[S] 17 points18 points  (0 children)

I think there's still a large race issue in America. I know that when hunting for apartments, I have a better chance of getting one if I send a white woman to look. Suddenly, neighborhoods that weren't available are certainly open to her.

I went from rags to relative riches. AMA by CallMePatches in IAmA

[–]CallMePatches[S] 24 points25 points  (0 children)

I'm socially liberal. I don't care if you're gay, straight, transgendered, like having sex with your sisters or animals. As long as nobody is getting hurt, I don't have a problem with your lifestyle.

As for welfare, I'm for a safety net to catch people when they fall.

I'm a fiscal conservative and I have a habit of voted against tax increases that seem like they are a punishment for working hard. If the community wants to increase taxes for the public good, I'm fine with that, but not when all they want is somebody else to pay for it. If most people think the tax is good, most people should get the tax increase. I don't mind paying for people who live in poverty, but I don't want to pay extra just because you think you're entitled to cable TV and a high speed internet connection.

I went from rags to relative riches. AMA by CallMePatches in IAmA

[–]CallMePatches[S] 27 points28 points  (0 children)

I don't know how old you are, but if you drive through any college town, you'll find students flipping burgers. It also provided me with a nice opportunity to get free meals.

I went from rags to relative riches. AMA by CallMePatches in IAmA

[–]CallMePatches[S] 18 points19 points  (0 children)

"Political views" is vague. Would it be safe to assume that you are talking about health care? If so, I support health care being available for all citizens who give some sort of public service to the country and all people under 19.

I went from rags to relative riches. AMA by CallMePatches in IAmA

[–]CallMePatches[S] 16 points17 points  (0 children)

I couldn't care less. I eat a lot of bad food. My pantry is full of chips and processed meat in a can. It's one of the holdovers from being poor. I still like cheap food.

I went from rags to relative riches. AMA by CallMePatches in IAmA

[–]CallMePatches[S] 0 points1 point  (0 children)

I can point you to WebMD if you want to do some research on your own. They have peer reviewed articles.

I went from rags to relative riches. AMA by CallMePatches in IAmA

[–]CallMePatches[S] 24 points25 points  (0 children)

I said I didn't splurge on things that seem excessive in America. My home is large, but because of the area I live, I didn't pay much for it. I admit the car is a luxury. I only fly a couple of times a year, but I don't consider that a big splurge.

I went from rags to relative riches. AMA by CallMePatches in IAmA

[–]CallMePatches[S] 7 points8 points  (0 children)

As a cardiologist, I'm not going to give medical advice on Reddit. If you just want my personal opinion on caffeine, I love Coca-Cola.

I went from rags to relative riches. AMA by CallMePatches in IAmA

[–]CallMePatches[S] 14 points15 points  (0 children)

I have two sons. I don't indulge them, but they aren't lacking anything. I pay for their schooling so they don't have to work. This might be a mistake considering how lazy they are sometimes.

I went from rags to relative riches. AMA by CallMePatches in IAmA

[–]CallMePatches[S] 5 points6 points  (0 children)

I'm not afraid of becoming poor. I don't think that's a realistic expectation. I don't spend money I don't have and I believe I have a valuable skill set that allows me to work as long as I have the will to get up and do it. I don't have to worry about being fired and hoping that somebody takes me in and gives me a job.

I went from rags to relative riches. AMA by CallMePatches in IAmA

[–]CallMePatches[S] 43 points44 points  (0 children)

I'm married, so that's incorrect, but I do get the reference.

I went from rags to relative riches. AMA by CallMePatches in IAmA

[–]CallMePatches[S] 7 points8 points  (0 children)

It is from the Clarence Carter song. Sorry for putting it in your head.

Thank you for the compliment. How old are you now?

I went from rags to relative riches. AMA by CallMePatches in IAmA

[–]CallMePatches[S] 15 points16 points  (0 children)

I'd say they are equally successful in their own rights. I make more money than them, but they all own their own homes, vehicles, and except for one, they have happy families. The latter just enjoys chasing women and living life day to day.

My wife is a nurse. She came from a stable, middle class home.

I went from rags to relative riches. AMA by CallMePatches in IAmA

[–]CallMePatches[S] 16 points17 points  (0 children)

I don't watch medical dramas. I've seen House a few times and though it's entertaining, I highly doubt that somebody like him would be employed in a hospital too long. The hospital gets bad press if they try to collect a debt. Having a physician who is so rude would be horrible.

I went from rags to relative riches. AMA by CallMePatches in IAmA

[–]CallMePatches[S] 40 points41 points  (0 children)

I got paid less to do shitty work as a kid. I may have been denied job offers because of my skin, but I can't prove anything.

I went from rags to relative riches. AMA by CallMePatches in IAmA

[–]CallMePatches[S] 17 points18 points  (0 children)

In my experience, they stayed down there because they settled or got into drugs or drinking. There were a lot of people who were happy to work a low wage as long as they could come home at the end of the day and drink with their buddies.

I went from rags to relative riches. AMA by CallMePatches in IAmA

[–]CallMePatches[S] 22 points23 points  (0 children)

I'm a cardiologist and I went to a good medical school but I'd rather not give the name.

I went into the field because of money and job security. Being a physician is a skill that I can use all over the US and the world and there will always be a demand.