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All the success books talk about picking a person doing what you want to do and emulate what they’re doing. If you want to be an Executive in the C-Suite at 31 years old, you should look to emulate Dom from GenY Finance Guy. He is CRUSHING it on the corporate ladder and income. Instead of being super frugal and retiring lean, Dom looked to increase his salary and save a ton. How much is a ton? He wants to retire with $10 million in the bank! That’s right, 10 million US dollars.
You’ll love Dom’s story and the knowledge bombs he dropped on us!
We also chat about…
- the benefits of sitting vs. standing desks!
- leadership valuing gray matter over gray hair
- being a manager is hella difficult
- how life isn’t all about work
- what helpy means
Enjoy this chat with Dom from Gen Y Finance Guy, and please subscribe to us in iTunes if you enjoyed it!
Show notes and links from today’s episode
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- Dom’s blog
- So Good They Can’t Ignore You – Cal Newport
- Peer Street
- Reliant Life Shares (Life Settlements)
- Rich Uncles
- Dom’s post about the $60k email <– CAN’T MISS
Key takeaways from our chat with Dom from Gen Y Finance Guy
1 – HUSTLE is THE name of the game
One doesn’t get to be in the C Suite at age 31 by putting in 40 hours a week. Oh no.
Being able to save up $10 million requires you to hustle your butt off big time. Dom hustled his butt off all through high school, college, and the beginning of his career and is starting to reap the rewards of all that hard work. He even started a blog while working long hours at work.
In fact, all three people on the podcast are hustlin’. J pivoted into a different career by getting her Masters in Computer science while working full-time and doing a number of side hustles. Gwen hustled in high school to get a full-ride scholarship for college. In college, she worked hard to land a great job after graduation so she would be set financially.
2 – One email = $60k annual increase
Dom increased his salary by 60,000 dollars with one email. Now, it wasn’t just that one email. He worked hard to get in that position.
However, he wasn’t afraid to ask for what he wanted. He had a backup offer in his pocket that let him be bold and ask for the level of compensation his work deserved. We wouldn’t recommend just anyone email their CEO and ask for a raise.
3 – Smaller companies, more opportunities
Dom was in a great spot to ask and get the raise because he was at a small company. Because he was at a small company, he had the chance to work directly with the CEO and get noticed.
That’s not nearly as easy at a huge corporation. If a title and big salary are what you want, look for a smaller company. Most big companies are just that – big. They’re more of a bureaucracy than a meritocracy.
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