Kevin Sheehan’s Advice For New Professionals

Kevin Sheehan is one of the most renowned CEOs of today, with an extensive background of turning around poorly performing companies or coming in and optimizing other companies. Sheehan has held a CEO, board member, or other top-brass position at companies like Scientific Games Corp., Norwegian Cruise line, and Cendant Corp. He has been at the helm of Avis group,and has helped launch the Sega Channel and Telemundo Group. He has also taught the MBA programs at Adelphi University in Garden City, New York. In all he is one of the most competent CEOs you can find. Here is here with us today to share his advice for young professionals and students that wish to be successful.

 

  1. Get educated and certified

 

We have a caste system in the US, higher education. People who have a Bachelor’s degree earn on average of double the income of those people who don’t over the course of their lifetime. If you want to be successful, get educated and certified.

 

  1. Get to a City

 

Moreover, economic growth is centered around cities. Both getting educated and getting to a  city become difficult as you get older. So do it early. These two will be the most important predictors of your success.

 

 

  1. Work hard in your 20s.

 

The reason wealthy people and well-off people can have a relaxed life in their 30s and 40s is because they worked relentlessly in their 20s. As you get older it becomes increasing. Work really hard in your younger years to raise your income level as much as you can.

 

  1. Compound interest

 

Einstein is credited with saying that compound interest is the most powerful force in the universe. And it is. Start putting money away now in some safe investments. It’s FREE money, all you have to do is wait.

 

  1. Cut your spending in your older years.

Jeff Bezos, for a long time after becoming wealthy, would still drive his old ordinary car. He was cutting on spending. I have friends that are extremely high earners but that spend very much. They are extremely talented and have luxury cars and homes befitting of their lifestyle, but they have no savings, they are poor. I have other friends who earn $40,000 annually and spend $30,000, they are rich. In your older years, figure out how to cut your spending.

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