If you’re wealthy, or your partner is, you might want to think about creating or taking on a ‘trust fund job’. This can help you maintain your social status, keep you relevant, and avoid any negative assumptions that you’re just coasting through life without contributing to society.
As I’ve grown older, I’ve noticed a lot of people with these kinds of jobs, just passing the time. Initially, I didn’t have much respect for them, and I wasn’t sure they respected themselves. But over time, I’ve come to see this as a clever move for the wealthy to keep people off their backs.
After a long period of economic growth, it’s no surprise that many people and their parents have amassed significant wealth much quicker than they expected. This has left many of them without much to do.
So, what exactly is a trust fund job? Well, it’s any job you take or create that you don’t actually need for survival. The main goals of a trust fund job are to provide status, fulfillment, and a sense of purpose. It’s only seen as a negative thing if the person hasn’t done anything to earn their wealth and doesn’t do anything to help others.
For those with a high self-esteem, a trust fund job can also be a strategy used by those who want to appear more mainstream. A well-crafted trust fund job can help the job holder blend in with society rather than stand out. As the wealth gap continues to grow, this is a good way to avoid envy from others.
Here are some examples of trust fund jobs I’ve come across:
-
Boutique Clothing Store Owner: I knew a hedge fund client who made at least $40 million over ten years. His wife, an events coordinator, quit her job after they got married and started a boutique clothing store. The store didn’t make any money, but it kept her busy and happy.
-
CEO of a Private Tech Company: Being the CEO of a private tech company is a great trust fund job. All you need is a cool-sounding name in a hot space, and you’re set.
-
Venture Capitalist or Angel Investor: If you’ve started a company and had a successful exit, you can join a venture capital firm as a General Partner.
-
Author/Writer: If you have enough passive income to cover your living expenses, being an author is a respectable trust fund job.
-
Consultant: Starting your own consultancy company is sometimes code for being unemployed.
-
Grade School Coach: Being a coach is an admirable trust fund job.
-
Real Estate Investor: Saying you’re a real estate investor is a good trust fund job.
Trust fund jobs serve a good purpose in society. As I’ve mentioned in previous posts, losing purpose is one of the big downsides of no longer working for a living. We all want to feel like we’re doing something meaningful for society. Just having money doesn’t cut it.
As you get older and wealthier, you’ll likely encounter more people holding trust fund jobs. Instead of looking down on them, appreciate that they are trying to stay active in a world that so easily forgets their names.
So, what are some other great trust fund jobs? Have you met people with extravagant lifestyles far beyond what their jobs could support? If so, how do you think they came upon their money?
If you’re looking to break free from a job you dislike, read ‘How To Engineer Your Layoff’. It will teach you how to negotiate a severance so you can do something else with your life.
