My #1 Embarrassing Life Challenge & How It Influenced My Dividend Investing Strategy

I’m really really excited about today’s article. Because I want to share something with all of you today something that I have never shared with anyone else other than my wife and this is something that happened in my personal career it was very embarrassing it was one of the more embarrassing moments in my life it was a it was a challenging time it was a very tricky time and I want to share this message with everyone today. Because he greatly informed my strategy as a dividend growth investor I would not be the dividend growth investor that I am today I would not be so passionate about dividends passive income cash flow I would not have really the mission the mission in the sense of mission and accomplishment and really the the strive that I have right. Now if it for not for this particular experience and I am talking about the experience where I got laid off earlier in my career many years ago I was working at a company and I got laid off and this was at a time when I was doing really well in my career I didn’t expect it and it totally totally turned my world upside down I was embarrassed about this for many years it was something that really affected me and I want to share my experience today. Because. I think that it could help others out there so welcome everyone to my article it’s a nice spring day here in Silicon Valley. So I thought I’d get outside and experience some of the fresh air here and so it’s the first article I’ve done outside in a while and I want to just share my personal story today and how it affected me how I learned so many lessons so many valuable lessons from this experience. But certainly at the time it didn’t feel like a good learning experience that just felt brutal it was really really difficult. So I was working in the company many years ago and company wasn’t doing so well at the time and I was at a company party it was funny at this party I bought a really fancy suit I wanted to look good and I was at the party and I was with my wife we went up and we talked to the CEO of the company and was funny as you can tell a lot when you’re speaking with someone I was speaking with the CEO and he wasn’t really all there and I knew there was something else on his mind something that was. I would say awkward whereas in Prior conversations with the CEO we must never like that. In fact, there have been company meetings at the company where the CEO congratulated me or even acknowledged me in front of everyone. But this time was different I was in my new suit I had spent a lot of money on it and I was at this partying for whatever reason there was something weird he wasn’t quite all there and he was there’s something something not being said anyways after that a matter of weeks later I found that unfortunately I was I was laid off as part of a company layoff there a bunch of people getting laid off and I got laid off. But what was interesting is I’m not supposed to get laid off I was valedictorian of my high school my whole life I’d always worked so hard I went to Stanford University even if the company I was at I was managing a team of people I was doing really well providing very good results for the company I wasn’t the person that was supposed to get laid off how could it possibly happen to me when I’m the guy that works so hard my entire life this was an incredible lesson an incredible reality shock for me that it was something really I never fathomed happening. I mean I was thinking like wait getting laid off that happens to other people that couldn’t happen to me and at the end of the day what I realized out of that experience is it can happen to anyone and it doesn’t even necessarily matter on one’s job performance when there’s a layoff look they say a layoff isn’t perform in space they say it’s it’s it’s just to save the company money. But at the end of the day these companies they can pick who they layoff and in my opinion there there are two types of people at any given company there’s people that are in favor and there’s people that are not in favor and one person like myself you can go from being in favor to out of favor I’ve seen this I’ve experienced this and at that time I was out of favor and I can say regardless of my job performance the people making the decisions they’ll look at people and you’re either in the in-crowd or you’re not at that particular company at that time I was not I was out of favor and therefore I experienced I experienced the layoffs and. So it was very very tricky situation for me. But the reason I’m sharing this story is one not to relive the the experience. Because. It really was it was actually a quite a painful experiences very shocking and obviously at that time my main source of income surely I had some dividend stocks at the time and I had been dabbling in online marketing affiliate marketing. So I had some side hustle income. But more or less most of my income was coming from the job and. So this was this was very troubling and so was it was a painful experience and so certainly I don’t want to share that here just to relive the the experience. But I really feel like I have a message here that is incredibly valuable for others out there and that’s why I’m doing this and I think it provides a lot more background behind what I am doing here on PPC and why I have this YouTube channel why I am sharing personal finance insights and sharing my personal finance journey behind my dividend stock investing this is the article that I think could provide a great basis for understanding where I’m coming from better. But also to help others out there who are actively working and so by the way I apologize for some of the noise in the background it’s a it’s a busy time around here being in this good economy there’s a lot of construction right. Now and so just about everywhere you look there crews out there people doing construction and so just I’m you’re probably hearing some of that and I apologize. But I hope the change of pace the change of scenery makes up for that thought it’d be nice to show the kind of springtime. But anyways what I want to do right. Now is jump in to the lessons I don’t want to necessarily relive the experience. But I want to jump into the lessons and I did not see all of these lessons right away. But years later I. Now really appreciate them and so I’ve listed them here lesson number one multiple streams of income I. Now have income coming from my job I have income coming from my dividend stock portfolio I have did income coming from affiliate marketing I do some online marketing some side hustle and I’ve income coming from consulting oftentimes. I get requests hey Ian can you consult on this project can you do a little extra work sometimes with a family at home with two little kids it’s very difficult to take on that extra work. But I do it I do not pass up an opportunity to earn more income and. So I have four streams of income where it’s back then I was really dependent on the job income. So this is the core reason by the way that I invest or one of them at least that I invest in dividend stocks when you own dividend stocks you cannot be fired from your job you cannot be laid off it is a sense of permanence it is passive income it is golden and so multiple streams of income is the number one lesson that I learned and if anything this experience accelerated my quest my quest to build up dividend income and I just went even more aggressively after it lesson number two working hard does not necessarily mean job security and this is a hard one that I had to learn this is real hard. Because I always thought hard work pays off I always thought the person who puts in the work or even the person who is most qualified is the one that wins this is not always the case sometimes that a company as I’d mentioned there are people out of favor people in favor and it can even fluctuate with one person what I found at this particular company is it wasn’t the right fit it was a sales company it was a party culture I’m trying to be realistic here and the reason I’m trying to be realistic is point number two informs point number one I always believe in giving my job my all especially when I’m in a job that aligns with me like the one I’m in. Now that one like I mentioned wasn’t quite as aligned it was more of a sales culture not as much aligned with my core values and so I’m not trying to paint a pessimistic picture and I’m trying to obviously encourage everyone to work hard. I think that is important and I think it’s that sense of pride and satisfaction and I wouldn’t be where I am today if I didn’t work hard. Because it got me pretty far in my career pretty quickly and got me a lot of income that I was able to invest. But that being said there are certain times I guess this doesn’t matter always. But there are certain times where hard work won’t pay off and I think it’s just important in retrospect for people to be aware of that that there will be times in life despite your best efforts where the hard work may not pay off. But that doesn’t mean to give up it doesn’t mean to stop working hard it just means it won’t always pay off and so it’s good to be realistic and it means that it’s when some of these other points will be informed by this it’s important to be realistic with one’s finances with one’s investing to think of the bigger picture. Because one never knows when that hard work might not pay off so point number three lesson number three it’s not such a big deal at the time I made such a big deal out of this it was and. You know. is this really is true when you’re an adult you get older. I mean my 30s. Now. You know. a lot more than when you’re younger and at the time this job was everything to me I’d placed a lot of weight on it. But when you get older you start realizing wow there are other things out there like having kids or growing one’s family or pursuing one’s passions in life doing charity work joining a church there are other things in life that are really important and that are oftentimes most times quite frankly more important than the work itself and. So if I were to look back. It really comes down to faith things happen for a reason and in the end this experience gave me so much it gave me so much to learn from and it got me it got me to the next thing which I needed to get to I didn’t want to stick around a sales culture where it wasn’t for me I’m not saying there’s anything wrong with that there are sales people who enjoy that culture and I wish them all the best it’s for them it’s not for me it wasn’t the right fit and. So I had to learn this the hard way. But it’s important to have that faith it is important to have the faith that things will work out and it’s important to have that bigger picture as well that look. It really isn’t that big of a deal there are more important things out there and it’s not going to crush one’s entire life so number four this is another one I learned the hard way I’m in a link in the description below to another article I did about my five biggest investment mistakes. I would say this is my biggest maybe career challenge and so these are kind of articles all about the the challenges and mistakes I made in my life. But I’m going to link there one of the mistakes I made is I bought a bmw m3 really early on in my career before I had the money to afford such a car and I would like the suit I spent a lot of money on the suit for the party I wanted to impress the executives well when times are good one always needs to remember that times might not always be good it’s good to save some money it’s good to be frugal these days when I buy a suit I go to the outlet and I honestly get a suit as good or better than what I was getting at the premium store. Because the outlets have amazing stuff and so I’m smarter about it I owe that to my wife she’s the smart one when it comes to budgeting and she’s helped me find solutions to my prior ways of spending too much money and so it’s a very good reminder when times our good not to get ahead of oneself and another way of looking at this when times are good it’s good to save some money. Because when times are bad the stock market goes on sale oftentimes dividend stocks are trading at really low valuations it’s a great opportunity and so it’s always good to be frugal and to remember that things in life have their ups and downs and when times are good they may not always be good and right. Now for example stock market’s doing really well. But it’s starting to correct I think it could correct quite a bit more and so just a good reminder for myself for everyone that times might not always be like this maybe it’s a good time to save a little bit of dry powder. Because we don’t know what’s coming so lesson number five always have a plan B I think subconsciously we all always have a plan B before any of this happened I was already kind of looking for other jobs not really actively. But things would come to me I would entertain them the great thing here is I didn’t have a lot of downtime. In fact, I had no downtime when I was laid off I was able to start a new job basically the next week I got lucky. I would say some of that is luck. But some of it is also having a plan B I spent a lot of time networking I spent a lot of time getting my name out there and this is important for dividend investors the worst thing that can happen for a dividend stock portfolios to have to sell. Because the benefits come decades decades down the line the the benefits take time to compound the benefits take time and if one has to cut into principal. Because they got laid off they have to pay bills that’s never a good thing it can derail not derail. But it can slow down ones progress and it can be it can make the hit even worse not only does one have the hits of getting laid off. But one has the hit of oh no I have to dig into this portfolio that really means everything to me my multiple streams of income well if one has a plan B one has other alternatives it can soft in the landing and so for me I was able to pick up a new job pretty quickly and had no downtime and it all worked out that said it was still very traumatic and it was it was a challenging time and so and maybe it wouldn’t have been that good it’s not always gonna be that good. You know. sometimes one cannot find a job so quickly sometimes it is not like that. But it is always good in my opinion to to be thinking ahead thinking several steps ahead and some of that will be done consciously some of it will be done unconsciously. So what else. what else did I learn don’t burn bridges number six this kind of goes hand in hand with all of this as a dividend investor just as a person one wants to save a successful smooth Road ahead like I said one doesn’t want to be out of work for a long amount of time one doesn’t want to have to dig into their finances their savings their portfolio to pay for a challenging time one wants to keep their options open and part of that is not burning bridges. Now when I got laid off I took. It really well at first glance when they had the meeting with me I was like hey thanks for letting me know I wish you guys the best and I left. But I got home when I got home I started thinking I started it starts steaming I was like boy I’m frustrated about this and it was at that point that I didn’t really do anything consciously. But it was subconsciously whenever I would talk to someone from this company whether it was someone that was still at the company someone affiliated with the company I would I would not give them the benefit of the doubt let’s put it like that I would always assume the worst and a lot of those relationships they kind of fizzled out over the years I lost a lot of those relationships just. Because I didn’t want anything to do with those people anymore and that was a mistake the the fact that matters a lot of those people have done good things and I think they’re they mean well and having more connections more of a network is always a good thing. So I think. I get like a on a scale of one to ten on the burning bridges I do I wasn’t like a ten I’ve burnt all the bridges. But I wasn’t like a one either where I was like oh I did so graciously I somewhere in the middle and. I would say that a lesson for anyone is to keep those connections open. Because they help with the plan B as well they can help with a lot of things in life and there’s just no reason it’s always better to wish everyone well what else dialer finding a greater purpose my greater purpose I have a lot of greater purposes. But but number one family my kids my wife. I would say faith is a big one thinking about spirituality I have a lot more I need to to do there and a lot lot more I need to do there. But it’s it’s something that’s always on my mind investing I love investing it’s my passion dividend stocks my current job which I love in it aligns with my core values. Because it allows me to be an investor not only my spare time like I am with dividend stocks. But even in my career I’m. Now an investor as well and so it’s aligned it’s aligned with my core. But find that greater purpose what are those greater purposes and it can’t always be the job there have to be other things and that’s why I rally around this channel so much I’m so excited about this channel I love the questions the comments everything the community. Because it’s part of my greater purpose I know from the comments out there that it’s part of your greater purpose too I know that many of you here this is part of all of our greater purpose is this financial freedom this quest this quest towards passive income and I know for myself and for others out there it’s not only about living the easy life or having having passive income so we don’t have to work it’s about being able to use that passive income to give back maybe we may be donating it to charity maybe freeing up time to do charitable work may be freeing up time and money to be able to pursue one’s true passions in life to give back I know that that’s part of it as well and that’s what’s so exciting about investing in dividends and so at the time when I got laid off I didn’t have that greater purpose I was all about the job that just can’t be the case that cannot be the case and so the last one my favorite one it can happen to anyone the reason I am doing this article the primary reason or one of the primary reasons is I’m here on YouTube and if you see some of my earlier articles. You know. that I still have humble beginnings especially in online article. But these days my articles can look really polished I could come across as doing a lot of things right and I am I’m proud of myself. But that being said this happened to me this is. Something I got laid off this first time I’m sharing it with anyone other than my wife. Because I’ve been so embarrassed and I’ve been holding it honestly on for years so I’m excited to share this now. But it can happen to anyone it can happen to the valedictorian of a really prestigious school it can happen to someone that went to Stanford University it can happen to someone that works so hard it can happen to anyone and this isn’t meant to scare folks out there. But this is meant one to speak to people who might have faced that situation that I did have you been laid off did you just get laid off did you maybe you didn’t get laid off maybe got fired I hope these lessons help I hope they help you take a step back I hope they help you find some camaraderie with me. Because I’m in the same bucket we’re all in the same club. But if it hasn’t happened to you I wish you the best I hope it never does. But if it does just remember that it can happen to anyone and I especially think that these lessons are important for the dividend investors for the dividend community. Because it all goes together this is one of the core reasons I invest for dividends I think this should be one of the core reasons that a lot of people out there invest for dividends it gives more purpose we don’t just invest in dividends. Because it’s fun we don’t just invest in dividends. Because it creates security in the future we invest in dividends. Because stuff like this happens life happens and it is part of a greater purpose and it makes life better that’s what it is at the end of the day it makes life better anyways ok I hope you enjoyed the article today and please leave your comments below if you have any questions specifically for me I love to answer them I’m also an Instagram I’m gonna link to that below if you can subscribe like my channel it means the world to me it means everything. I thank you I thank you for the support and before I leave just a friendly disclaimer this is not investment advice I’m not a licensed investment advisor this is just for your fun and entertainment if you’re going to go out and invest the stock market or anywhere else please consult a licensed financial adviser first thanks again for the support I will see you in my next PPC Ian dividend investing article.

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