Cities Aren’t Just Where the Jobs Are; They’re Where the Other Jobs Are, Too

One way that the labour market has changed over the last couple generations is that careers are now typically made up of a series of jobs at different organizations, away from the default of sticking with one or two for the long haul. Optionality – in the form of having lots of attractive jobs near you at any given point in time – is even more important today than it used to be. I honestly think this is the single biggest recent driver of why a select few large cities are disproportionally running away with the compounding gains of economic success recently: if you are a professional worker, those select cities aren’t just where the high salaries are, they’re where the highest number of other options of high salaries are. For a skilled professional, high rates of job turnover are a path for accelerated career advancement: it’s much easier to find a new job that will level you up and boost your income, and you already live in the city where they are.

Source: What happens if building more housing doesn’t work? – alexdanco.com

You Make Money From Investing – Not Salaries

I don’t think most people think about their finances from a portfolio construction perspective.  I think most people fixate on saving money first and then *maybe* they buy a house or invest in index funds.  Most people never think about investing in high-risk / high-reward asset classes.  And these are the investments that are life changing and make people really wealthy.  Just to be clear, when I say “these”, I’m talking about high-risk / high-return assets, not necessarily angel investing, and there are all kinds of high-risk / high-return assets.

If you don’t have an investment mindset, change it — regardless of what profession you are in. Your salary doesn’t make you wealthy.

Source: Some thoughts on building wealth – Elizabeth Yin