Financially Bulletproof in a Pandemic
Episode 322
Episode Guide
Episode Timestamps
Episode Summary:
In this episode, Dennison shares his inspiring journey towards financial independence. He emphasizes the importance of adaptability amidst challenges faced during the pandemic and reflects on valuable lessons he learned from his frugal upbringing. Dennison transitioned from a career in engineering to a successful Salesforce role, demonstrating how continuous learning and flexibility can lead to substantial financial advantages.
Key Topics Discussed:
-
Introduction and Background
- Introduction of Dennison and the overview of his financial journey.
-
Lessons From Family
- Dennison shares insights on frugality and work ethic from his parents’ immigrant background in the Philippines.
- Key Takeaway: Frugality and a strong work ethic form the bedrock of financial independence.
- Dennison shares insights on frugality and work ethic from his parents’ immigrant background in the Philippines.
-
Discovering Financial Independence
- Dennison's exposure to the ChooseFI community and how it influenced his financial knowledge.
- Key Takeaway: Community resources like ChooseFI can significantly enhance financial literacy.
- Dennison's exposure to the ChooseFI community and how it influenced his financial knowledge.
-
Navigating Career Changes During the Pandemic
- Discussion on being furloughed and transitioning back into engineering before discovering Salesforce.
- Key Takeaway: Flexibility during career setbacks can open new lucrative opportunities.
- Discussion on being furloughed and transitioning back into engineering before discovering Salesforce.
-
Salesforce Career Insights
- Overview of the Salesforce ecosystem and the potential benefits of a career in this field.
- Key Takeaway: Salesforce administration offers lucrative career paths with rapid earning potential.
- Overview of the Salesforce ecosystem and the potential benefits of a career in this field.
-
Conclusion and Key Takeaways
- Dennison highlights the importance of continuous learning and community engagement in achieving financial independence.
Actionable Takeaways:
- Embrace incremental improvements to enhance your life .
- Explore career opportunities that offer free or affordable living arrangements .
- Continuously learn about fields such as Salesforce for career growth .
Key Quotes:
- "Warren Buffett states that mastering public speaking can elevate your career by 50%."
- "Incremental 1% changes lead to significant overall improvement."
- "I've managed to eliminate living costs completely."
- "I provide tangible value that directly impacts the organization's efficiency and profitability."
- "To obtain free benefits, find opportunities that offer compensation for your efforts."
Related Resources:
Discussion Questions:
- What actionable steps can you take this week towards financial independence?
- How can you leverage your existing skills to explore new career opportunities?
- What lessons about money have you learned from your family, and how do they shape your views?
Action Items:
- Take a free four-day challenge to explore new career opportunities .
- Join a community that supports financial independence to exchange ideas and resources .
Podcast Information:
- Hosts: Jonathan Mendonsa and Brad Barrett
- Guest: Dennison
- Podcast: ChooseFI
Podcast Intro:
Podcast Intro: "You're listening to ChooseFI. The blueprint for financial independence lives here..."
Podcast Extro:
Podcast Extro: "You've been listening to ChooseFI Podcast, where we help middle-class America build wealth one life hack at a time."
Unlocking Financial Independence Through Adaptability and Continuous Learning
In today's rapidly changing world, financial independence may seem like a daunting goal. However, by adopting a flexible mindset, continuously learning, and leveraging available resources, achieving financial freedom is possible. Here, we will explore actionable strategies based on the inspiring journey of Dennison as highlighted in a recent episode of the ChooseFI podcast.
The Importance of a Growth Mindset
The foundation of financial independence begins with a growth mindset. Cultivating an attitude of lifelong learning not only prepares you for unexpected changes but also makes you more resilient. Dennison, who transitioned from a career in engineering to Salesforce, exemplifies this flexibility. His upbringing taught him the values of hard work and frugality, which served as a starting point for his journey.
- Action Step: Start viewing challenges as opportunities to learn. Reflect on past experiences and identify key lessons that have shaped your approach to personal finance.
Learning from Family Background
Dennison's immigrant family background instilled in him the importance of resourcefulness. He learned lessons about hard work and managing finances from his parents, who juggled multiple jobs to provide. This strong work ethic is crucial for anyone aiming for financial independence.
- Action Step: Identify the financial lessons you learned from your family. Write them down and consider how they apply to your current financial strategies.
Embracing Incremental Changes
In the pursuit of financial independence, it is essential to embrace incremental changes. Dennison adopted the philosophy that "every 1% change I make is going to make me a little bit better." This concept aligns with the idea of the aggregation of marginal gains, which suggests that small, consistent improvements can lead to significant outcomes over time.
- Action Step: Challenge yourself to make small changes in your financial habits. For instance, commit to saving an additional 1% of your income each month and track your progress.
Career Adaptability and Opportunities
The pandemic served as a turning point for many, including Dennison. After being furloughed from his job as a massage therapist, he pivoted to a career in Salesforce, a robust and lucrative field. This highlights the importance of being adaptable in the face of uncertainty.
- Action Step: Assess your current career and determine if there are skills you can develop that are in high demand. Online courses and community resources like ChooseFI can provide guidance and support.
Exploring Salesforce: A Path to Financial Security
Salesforce is a customer relationship management (CRM) tool that offers numerous career opportunities with competitive salaries. Dennison's journey illustrates how learning a specific skill can lead to financial security and independence. Salesforce administrators are essential for companies, making their roles highly sought after.
- Action Step: Consider exploring careers in tech, such as Salesforce administration. Start by taking a free five-day challenge to gain insights into this career path.
Harnessing Technology and Community Support
Joining communities like ChooseFI can provide invaluable resources and support for individuals on their journey to financial independence. Dennison credits the ChooseFI community with significantly influencing his financial knowledge and career direction.
- Action Step: Engage with communities focused on financial independence. Share your experiences, learn from others, and gain motivation to pursue your financial goals.
House Hacking and Living Frugally
Dennison also used creative strategies such as house hacking to reduce living expenses. He took advantage of opportunities to live in university housing at no cost while working part-time, demonstrating that thinking outside the box can lead to significant savings.
- Action Step: Explore your living situation and see if there are options, such as house hacking or shared living arrangements, that can significantly reduce your costs.
The Result of Adaptability and Continuous Learning
Dennison’s journey is a testament to the power of adaptability and continuous learning. In just a short period, he transitioned to a new career, eliminated living costs, and promotes the mindset of leveraging skills for financial success.
- Action Step: Reflect on your skills and experiences. Identify how you can apply them in different fields or take on new challenges that align with your financial independence goals.
Conclusion: Your Path to Financial Independence
Achieving financial independence is within reach, but it requires a commitment to continuous learning, adaptability, and strategic action. By implementing these principles based on Dennison's experiences, you can create a roadmap to your financial freedom. Start today by joining supportive communities, setting small improvement goals, and exploring new career opportunities. Use your unique skills and experiences as foundational blocks, and remember that every step, no matter how small, is a move toward your ultimate goal of financial independence.
Explore resources to help you begin your journey:
By taking these actionable steps, you will not only unlock financial opportunities but also open the door to a life of freedom and security.
What do you do when your career pivot flops due to a pandemic?Â
Dennison rebounded with the Talent Stacker Salesforce 5-Day Challenge and launched a new lucrative career. Â
https://vimeo.com/547695243 [elementor-template id="143609"]- Dennison, a member of the FI community and recent Salesforce success story, joined the guys today for a special interview. He expressed to us that being adaptable and willing to change your world viewpoints on the fly (especially in the face of the COVID pandemic) has allowed him to achieve great financial and personal success.
- Dennison begins his life's journey with the importance of education instilled in him from his parents, who immigrated from the Philippines. That his parents taught him the importance of learning a little bit about everything in order to determine what your true passions in life are. He then parlayed this to the guys by relating to Brad about the Wim Hof method of breathing when you are in frigid waters. He spoke at great lengths about his previous professional ventures and the education that got him where he is now.
- Toastmasters, a non-profit group that centers around public speaking, was Dennisons' next to-do on the "uncomfortable" journey. He identified his "weak points" of shaping his professional life and effectively through himself in the deep end.
- Dennison states that his family was his role model. His mother is an occupational therapist and always had a side hustle. His father cleaned airplanes and then became a ground service technician for an airline. But the food budget was always really tight. Dennison's father cooked all the meals, and both of his parents ensured that he and his siblings always had one parent or more in the house.
- Dennison answers the question about "who taught you how to invest and/or save growing up" by telling us that it was not until he graduated from college that his dad mentioned the concept. His father told him that "Hey, this investing thing, it was something that I never really learned. And it was something I wish I could have taught you, but you're young - you can figure this out!"
- Because of how Dennison was raised, his utility comes from being happy - not from massive wealth - which is so refreshingly potent in speaking with him. It is about having the opportunities to do the things you seek without constraints.
- After receiving his Master's degree in Engineering, Dennison took the smart route and first got a job as a Housing Director at one of the colleges in Chicago. Keep in mind that this is different than an RD (Residence Hall Director). A Housing Director has less responsibility than an RD but has an autonomy that an RD does not. Further, the RD's job is being the RD. A Housing Director has their food, shelter, and water taken care of yet still has time for a full-time job. A nifty "college hack" as Dennison put it.
- After doing some consulting within his engineering expertise, knowing he has a "runway" to take chances to chase down some of his dreams, Dennison decides to pursue a health and wellness route with massage therapy. Unfortunately, this decision was made in January 2020. No one could have predicted the pandemic that was right around the corner. So not only was Dennison furloughed from his therapist job, but he also found it incredibly difficult to get back into engineering as well.
- Always up for a new challenge, Dennison sought out newer, greener pastures. Being a long-time listener of the Choose FI podcast, he remembered when the guys had Bradley Rice (the Salesforce guru) on as a guest, and how blown away he was after their chat. Keep in mind this was March 2019, so it stuck with him for well over a year. He explained how you are effectively your own consultant and don't have to punch a clock day-in-day-out. Tens of thousands of companies utilize the Salesforce CRM, and there is no shortage of help wanted.
- Dennison then goes into his thought process of how the pandemic has hit his life so hard and derailed his backup plans: his fail-safe after fail-safe. Yet, he cannot capitalize on these in the real world due to the tightening job market. So, he pivots his sights away from engineering and therapy and looks towards Salesforce.
- When asked where his heart and passion lies, Dennison's shares that his passion lies within massage therapy, but the pandemic has taken that option off of the table. His engineering educational path was more of a practical one than a passionate one. So, he was absolutely open to the idea of a third option, especially given the pandemic circumstances. And that was Salesforce.
- When asked where his heart and passion lies, Dennison's shares that his passion lies within massage therapy, but the pandemic has taken that option off of the table. His engineering educational path was more of a practical one than a passionate one. So, he was absolutely open to the idea of a third option, especially given the pandemic circumstances. And that was Salesforce.
- Dennison first approached Salesforce in a practical way. What industries can I pursue? And the answer he came up with was limitless. Salesforce's CRM is implemented in tens of thousands of businesses. And you can work at your own pace to achieve a Junior Salesforce Administrator career track.
- To dip a toe into the field, he signed up for the free Talent Stacker Salesforce 5-Day Challenge.
What a New Salesforce Pro Actually Does
https://vimeo.com/547696403- So, naturally, the next question is what does a Junior Salesforce Administrator do and for what type of company? Dennison says that "...basically, I came to learn that Salesforce is just like a customer relationship management tool, helping different organizations manage their sales process and their customer support processes. And so Salesforce administration is just managing that tool for these organizations. Different people can use the tool for whatever purpose they need. So, for example, salespeople use it, customer service people use it. And then Salesforce administrators are the people who are managing this tool." As a Salesforce Administrator, you play an essential role in the functionality of a company's business model and day-to-day operations.
- Dennison was a little wary of the Salesforce promise of $60k-$80 per year once you receive certification, but he firmly endorses that claim. He also receives great satisfaction in knowing he is making a difference with the companies he's partnered with. Without the support of the Salesforce CRM, their internal systems would fall apart.
- Dennison also enjoys the fact that his input and modifications to each individual Salesforce CRM makes an impact. That his specific set of skills can be used to make a daily difference. And he also looks forward to expanding his Salesforce skill set for creating more automatons, to build closer relationships to the companies he contracts for, and - after the 3-year mark - penetrate to a 6-figure salary.
- Dennison said it best when he said, "as you start talking about those things that actually move the bottom line for your company, or you are a person that likes watching the dollars and cents of your personal life – then you are able to appreciate the value you bring to the company! I am driven to help them earn more."
- Dennison is a remarkable young man with lofty goals that he knows he can achieve. He's resilient, adaptable, and multifaceted. Now, with Salesforce in his tight grip, he feels he doesn't need the fail-safes of engineering or massage therapy in the wings; however, he always has the option to pursue them to augment the utility of his life. As we all know, high-powered careers and money help us reach FI. However, we need to enjoy the journey to get there.
Resources Mentioned In Today's Conversation
- Talent Stacker Salesforce 5-Day Challenge
- ChooseFI Episode 117 Making the Case for Part-Time With Bradley Rice
Â
