Dom

That’s awesome Todd!

Very inspiring story

Jeremy

@Lauren
If money is your sole motivator, then shifting jobs every few years to adjust your income to match your skills is worth it. However, there’s too many confounding factors to simply say, “Yes, quit your job, get another”.

It depends on your predilection to becoming management, how much institutional knowledge you carry, job inventory in your geographic area and skillset, how you want your resume to look, and how much you like your company, among other factors.

Rohan

Ramit,

As someone who is right out of school, what advise do you have with regard to changing jobs?
With real estate being one of the biggest “tax savers and investment” right now, is it still recommended for someone my age to go in for a house that costs $150k (I live in CT)?

Jeff

Great article. Hits home a bit with me, I am in a position that I love working for a Company that is struggling. Half of me wants to just move on and find the money I know I deserve, but the other half of me wants to stay, since I have a 5 minute commute, flexible hours, I can work from home if kids are sick, and if something comes up at the last minute, my boss is very nice about letting me take off when I need it. Due to economy, I didnt get a raise last year that I deserve and needed. I dont want to leave, but could use the raise. I make ends meet, but there is nothing left to save at the end of the day.

Ben

Just some comments about whether it’s a good idea to stay in one company for 10 years…

I used to own a company, and we recruited people from all sorts of backgrounds. I’d say that if you are aiming to work only in ‘big’ organisations, then 10 years at one place probably isn’t a major problem. However, smaller companies may be put off.

We sometimes took on people who had worked in other places for long periods. Some worked out, some didn’t. Usually the people who worked out had a mix of experiences (in different size organisations) before their long stint.

The people who were hardest to fit in were those who had only ever worked in one big organisation (ie gradute intake, and then stayed for 7-10 years). Their qualifications and experience were all top-notch, but the problem was that they were too fixed in the ways of the big org, and just couldn’t adjust to be as flexible as is needed in a smaller company. Of course this does vary, and is also down to each individual’s personality.

If you are already in a long term employment and want to make yourself look more appealing to smaller companies, then I would suggest finding ways to demonstrate that you have enough flexibility to work in a smaller setup.

Micah

Wow congrats Todd! I was in the same boat as you except I was in the military. I decided I could do better than and I did not reenlist. I put my resume out and now have a fantastic job (more than doubled my salary). I felt I was loyal to the military when they helped me in my time of need but there comes a time when you have to move on

Nacole R.

I’ve been following you for a year now, receiving your posts and this is the final thought that will lead me to purchase your book. I’ve heard tons and tons of success stories and so far I’ve saved a butt load with your help but I feel this book has tons more secrets. Thanks again for the book, the posts and helping this chick on unemployment somehow have savings and be on the road to being debt free. Who would have known it was possible living pay check to paycheck, that life isn’t one big daily grind… you can actually enjoy it adn save at the same time. I owe you my financial security.

Sara

Congratulations, Todd! Most of all in making work the positive outlet that kept your optimistic in beating cancer.

Ramit, would you also address those of us who are contractors with a 1099?

Matt

Its nice to see a regular guy finding great success. Its also nice that someone like Ramit is handing out advice that is not promising some sort of get rich quick scam or live on noodles, rice and water so you can save a million dollars. I have a similiar attitude when it comes to money. People expect a magic bullet, there is not one. Just many common sense strategies that add up to a better life.

Bruce Ziebarth

Rammit,
Thank you for sharing this story. Todd has illustrated how globalization and the United States move to a knowledge based society has returned power to the worker. If we are willing to go out, expand our knowledge, and deliver more than expected, we will be recognized. That recognition may not come from our current employer, however, it will be noticed by someone.

Todd’s story also illustrates the need for companies to shift from the addage that “there is always someone needing a job”. That is true, especially now, there is always someone looking for a job. But, are they the best person for the job. Would the company not be better off to spend more money and time retaining effective employees than spending precious resources recruiting new ones?

Here is a good example. I was recently speaking with a former General Manager of a Sebarros Pizza restaurant. He had at one time been over all Sebarros stores in North America. After two heart attacks decided that being on the road 300 days a year was too much and took a demotion. He had an interesting story about the cause of Sebarros current bankruptcy.

He stated that after Sebarros went public the new CEO replaced a large number of upper management with his personal associates. Often, these new employees made more than the people who had held those positions for 20+ years. These extra expenditures were offset by hiring younger employees for general management positions within the stores.

These new General Managers were not experienced in running a restaurant. They would not make higher ticket food items until they were ordered because they feared their food cost going up by throwing these items away. This particular store was in a high traffic mall. Customers did not have time nor did they want to wait. They would buy the lower ticket items that were readily available. While the number of customers actually increased the store’s revenue went from $21,000 a month to $9,000 a month in two years.

This illustrates the falacies that are costing US businesses their good employees and even causing bankruptcy. Todd’s story illustrates how the american skilled worker can use these falacies to his advantage. I agree that you should not change jobs solely for money (unless you want to). However, it also is not a good idea to “go down with the ship” simply for comfort, nor can we wait till we are laid off or fed up with our current position to expand our personal knowledge.

Jennifer

Todd, dude, you ROCK!!

Congrats on your success! Your story is really motivational and meaningful.

Lenny

How can we verify the authenticity of “Todd” and his “Rags to Riches Beat Cancer, Doubled Wealth” Story ?????

Bruce’s Money Rants » Blog Archive » Man Makes $13k in 5 Months, Doubles Salary, and Turns Down $25k Raise

[...] Teach You To Be Rich recently published an article about an e-mail a reader had submitted entitled How Todd Made $15,000 in 5 months, doubled his salary, and turned down a $25,000 raise. Todd recounts how he took his employer up on every possible training opportunity, worked more [...]

Jeannette

Inspiring story! Thank You for sharing Todd and thank you for posting Ramit. Certainly a great motivator to live an incredible life on all levels. Love it!