Jordan Belfort Tells 25-Year-Old On $60,000 Per Year To Quit His Job
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Jordan Belfort - also known as the real-life 'Wolf of Wall Street' - has been dishing out some advice to a 25-year-old who asked him what he should do with regards to his career. Check out this nugget of wisdom below.
Belfort told the young person, who says they are earning $60,000 per year, to quit their job and invest their money into something else with a 'side-hustle'.
Let's just tackle the obvious caveat to all of this first.
Belfort spent 22 months in prison after pleading guilty to securities fraud and money laundering back in 1999 in relation to his time at Stratton-Oakmont, a company he built from the ground up.
But you've all seen the Martin Scorsese film based on his life, so you know that.
Anyway, now the 59-year-old dispenses financial advice on TikTok - as well as a load of other stuff, too - and he believes that working 9-5 is no way to make a living.
Hey, both he and Dolly can't be wrong, can they?
The entrepreneur, who has a reported fortune of $100 million, was asked: "What's your best advice to a 25-year-old that is working 9-5 making 60K a year?"
Belfort proceeded to tell the TikToker: "You're never going to get rich, you're never going to get ahead in life and have financial security working for someone else on a salary punching a clock."
He reckons that the real smart play is to take a different career path.
He explained how people were once told to follow the well-trodden path and 'get a good job, work for 30 years, retire with your pension and social security' but 'nowadays that will be enough to pay for your diapers, barely, while you're in a nursing home.'
He added: "You'll die or retire with no money, and have no independence, you'll be reliant on other people and the social system, if it's still there"
Belfort then explained how having a 'side hustle' could help get out of the mainstream rat race.
He continued: "Get a second source of income. Where that be real estate, investing in stocks, crypto, something...start getting a second source of income and then slowly transition into that full time...[working 9 to 5] is a dead-end way of living your life financially, you're not going to get ahead like this."
Of course, not everyone agrees with this assessment.
One commenter said: "Some of the worst advice I've ever heard, if everyone did that then the world wouldn't work. Don't listen to this fool."
Another wrote: "$60k at 25 is BALLIN,"
A third reminded Belfort: "You scammed for all of your money."
Someone else added: "Don't quit, save your money and then invest into something else and then slowly transition over to that and then quit."