Photo by John Russo
Finance 30 March 2020
When I first started out modeling, I was 20, driving a 1996 Honda Accord, and had $400 to my name.
I moved to Vegas and in between shoots I picked up odd jobs. I started off at a Mexican cantina, later moved on to bartending at a nightclub, and then moved my way to bottle service there (which pays significantly more). I learned a lot watching women just like me aspire towards modeling. There are thousands of beautiful girls that come from literally all over the world to chase the same dream, and I saw the same story play out over and over again.
Every year I would see young models throw away their money on living a luxurious life. You'd be surprised how many women don't think about their future or have no plan for life after modeling. The reality is that you only have a set timeframe to live this way. This job is a means to an end. I ended up using my earnings to put myself through school for economics to achieve longterm stability. Being an Economics major, I've learned so much about how our economy and market work, and it's helped me understand the concept and usage of money all the better.
I've reflected on my time working as a young model and how I saw others spend their money. There is the importance of setting aside and investing early in life. If you invest in your 20s, you can make substantially more than someone say in their 30s or 40s. A $1000 investment at the age of 20, and contributing about $50 a month into it with 4% interest would yield almost $62,000 by the time that person is 60 years old. If the same investment is made at 30 years old, that person would have made around $37,000. Ten years can make a huge difference, even with a modest investment. That sounds complicated but the long and short of it is always save earlier. Never assume you can make more money later because oftentimes that never bears out.
Ten years can make a huge difference, even with a modest investment.
Shortly after I started working as a bottle waitress and paid off my debt, I wanted to do something with some of the money I had saved. My first ever stock I bought was BRK Class B (non-voting stock, it's cheaper). In the last 2 years, I really wanted to take trading more seriously, so I read a lot of materials and watched a lot of videos. I downloaded a trading platform called Thinkorswim, practicing with fake stock trades just to better my understanding of the market. Once I felt more comfortable with what I was doing, I decided to do live trading with my own money. Much like modeling, you have to practice to get the feel of things. Learn everything you can before you start, and afterward you can learn from experience. But go in prepared. Once you're ready, you can go for the real thing. And I was ready.
Much like modeling, I would never consider trading a career path. It should be something you do on the side. The money and lifestyle can be enticing, but you can only do it for so long. You should have other goals in mind. This is another means to another end. There's a lot of risk in trading. That's why I suggest to others that they invest long term — bonds, IRAs, CDs, mutual funds, properties. Trading can be extremely rewarding, sure, much like modeling. You have these amazing experiences, and a good job can provide a good chunk of livable wages. Use your time to focus on endeavors that will help you in the future.
To sum it all up, here are the takeaways:
- Never think good money is forever. It comes and goes, so it's best to have a plan in place.
- When you're working in one area, learn more about your other interests.
- Always put some kind of money aside. Even 50 dollars a month goes a long way towards financial security.
- Look into investing your earnings somehow. Learn to trade, look into long-term investments, or as a last resort pay someone to help you, like a financial advisor/fiduciary.
- Learn everything you can and never stop the learning process.
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Help! My Friend Is a No Show
Dear Armchair Psychologist,
I have a friend who doesn't reply to my messages about meeting for dinner, etc. Although, last week I ran into her at a local restaurant of mine, it has always been awkward to be friends with her. Should I continue our friendship or discontinue it? We've been friends for a total four years and nothing has changed. I don't feel as comfortable with her as my other close friends, and I don't think I'll ever be able to reach that comfort zone in pure friendship.
Dear Sadsies,I am sorry to hear you've been neglected by your friend. You may already have the answer to your question, since you're evaluating the non-existing bond between yourself and your friend. However, I'll gladly affirm to you that a friendship that isn't reciprocated is not a good friendship.
I have had a similar situation with a friend whom I'd grown up with but who was also consistently a very negative person, a true Debby Downer. One day, I just had enough of her criticism and vitriol. I stopped making excuses for her and dumped her. It was a great decision and I haven't looked back. With that in mind, it could be possible that something has changed in your friend's life, but it's insignificant if she isn't responding to you. It's time to dump her and spend your energy where it's appreciated. Don't dwell on this friend. History is not enough to create a lasting bond, it only means just that—you and your friend have history—so let her be history!
- The Armchair Psychologist