Is Becoming An Accountant Actually Worth It?

what if I told you that one of the most boring jobs in the world could actually be your ticket to freedom all right hear me out Freedom seekers in a world obsessed with crypto and nfts there's a stealthy career that's been quietly making millionaires accounting Yes you heard that right and believe it or not you don't have to get a degree to become an accountant and we'll get into that later but is it actually worth it well stick around because in the next 15 minutes I'm going to Crunch the numbers on this supposedly dull profession and I'm going to show you why it might just be the most exciting career move you'll ever make today we're going to be diving into the world of debits credits and dreams that's right we're going to be talking about accounting now I know what you're thinking Shane have you lost your mind accounting is about as exciting as watching paint dry but hold on to your calculators because we're about to flip the script on this misunderstood profession let me introduce you to a concept I call stealth wealth careers these are jobs that fly under the radar but have the potential to build serious wealth and freedom and accounting it's the ninja of stealth wealth careers now why am I a guy who talks about remote work and Entrepreneurship suddenly singing the Praises of traditional professions well let me drop some knowledge on you according to the Bureau of Labor Statistics the median pay for accountants in 2020 was about $73,000 a year but that's just the beginning the top 10% of accountants they're pulling in over 128,000 a year and that's not even counting the potential for bonuses profit sharing and other perks but Shane you might say it's not about the money and you're absolutely right that's why we're going to look at accounting through the lens of what I call the freedom formula and this is SK skills plus demand plus flexibility equals Freedom accounting gives you a superpower of understanding the language of business when it comes to demand every business needs accountants it's Recession Proof and when it comes to flexibility with these skills you can work anywhere anytime and when you add these up you get Freedom the freedom to choose your path your lifestyle and yes even your work hours now I know some of you are skeptical you're picturing a dimly lit cubicle mountains of paperwork and a soul crushing 9 to5 but what if I told you that accounting could be your ticket to working remotely from a Beach and Bali starting your own successful business or even becoming a high paid consultant sounds a lot more exciting now doesn't it but here's the million-dollar question is it actually worth it that's exactly what we're going to be exploring in this video we're going to be diving into the pros and cons of an accounting career how to leverage your accounting skills for maximum freedom and whether it's the right path for you in your particular circumstance and by the end of this video you'll have a clear picture of whether accounting is your secret weapon for Financial Freedom or if you should stick to your day job so are you ready to balance the books of your future to reconcile St your dreams with reality then let's dive in because it's time to audit your career options all right so let's talk about the truth about accounting salaries that's right we're going to be talking money because let's face it that's why we're all here now I've already thrown some numbers at you but let's break it down even further starting salaries for accountants are pretty sweet we're talking $50 to $70,000 right out of college and it's not just right out of college there are certain positions such as bookkeeper or Junior accountant that you can go into right away as long as you have the proper training which by the way I'll put put some free resources for how you can get the proper training down in the description and the pin comment below and this is from a company that's helped so many people get these entry-level jobs called course careers and I've interviewed a bunch of people on the channel that have actually gotten jobs through course careers and more and more often companies are realizing that college degrees don't actually prepare people for the Working World 95% of the things you learn in college are theoretical or mumbo jumbo or fluff and it's just not that helpful on the job market so so many different alternative education opportunities are popping up on the market right now and course careers is one of them so definitely check them out down the description and the pin comment below but here's where it gets interesting after 5 years you could be looking at six figures and if you make it to becoming a partner in a big firm we're talking Millions but remember salary is just one piece of the puzzle let's not forget about bonuses profit sharing stock options Etc many accountants for instance because of the fact that they do taxes for different businesses we kind of see where the opportunities are and then they could potentially start their own business in those areas now I know what you're thinking Shane all that sounds great but what about the soul crushing work well my freedom-seeking friends let's dive into that next the day-to-day reality of accounting all right let's address the elephant in the room The Stereotype of the boring accountant here's the truth yes there will be spreadsheets yes there will be numbers but modern accounting is much more than that you're not just crunching numbers you're solving puzzles you're like a financial detective and with technology automating the grunt work you're free to focus on the big picture stuff strategy analysis and decision-making plus you're often working with cool companies like Tech startups fashion Brands and even pro sports teams but I'll be real with you tax season it's no joke long hours high stress and deadlines Galore and the question is is the payoff worth it well let's find out remember our freedom formula skills plus demand plus flexibility equals Freedom well accounting scores high on all three and accounting gives you a superpow you can read the story behind any business's numbers it's like having x-ray vision for finance and every business needs accountants from small startups to Fortune 500 companies it's practically recession Pro and when it comes to flexibility this is where it gets good with accounting skills you have options you could work for a big firm you can start your own practice you can do freelance work you could become a consultant for a niche type of tax accounting and here's the kicker many accounting jobs can be done remotely that's right Beach office anyone but Freedom isn't just about where you work it's about having options and accounting it gives you plenty now let's talk about the downsides let's keep it real here because I wouldn't be doing my job if I didn't talk about the downsides first up the education even though there are are some types of accounting jobs that you can get into without a college degree many of them are still stuck in the mud and you are looking at four to 5 years of college plus if you want to become a CPA which is basically a high level accountant you are going to have to get certified and you can only get certified if you have a college degree now there are kind of loopholes to get around that and do it a lot faster for instance you can go to a college like WGU I've talked about that extensively on my channel where you can get a degree much faster but it's still a huge pain in the butt however like I said before it's easy to get started doing jobs such as book keeper and you do not need a college degree to get into that next let's talk about the hours especially in public accounting the hours can be brutal we're talking 60 to 80h hour weeks during busy season and let's not forget about the stress when you're dealing with people's money the pressure can be intense but here's the thing every career has its downsides the question is do the pros outweigh the cons for you now let's talk about leveraging accounting for maximum freedom and this is where it gets exciting how can you use accounting to create the life that you want option one you can climb the corporate ladder you can start at a big firm work your way up maybe even become a partner and that's where the big bucks are you can also go into a higher level career such as a financial controller and a lot of them make over $250,000 a year option two go solo start your own practice Be Your Own Boss choose your clients option three become a consultant use your skills to help businesses grow this can be high pay flexible hours and it can be very interesting work usually it will require that you have quite a bit of work experience first because no one's going to hire you as a consultant if you don't and it also typically requires that you are a consultant in a very Niche type of accounting or a niche industry option Four Financial Independence use your knowledge to invest wisely use your knowledge to potentially start your own business and retire early live on your terms the possibilities are endless and that my friends is true Freedom next let's talk about if accounting is right for you and this is the million-dollar question is accounting the right path for you ask yourself do you enjoy problem solving are you detail oriented do you like the idea of understanding the financial side of business can you handle periods of high stress and long hours does the potential for high earnings and job Security appeal to you if you answered yes to most of these accounting might be your ticket to freedom but remember no career is perfect it's about finding the right fit for you and I think a really good way to dip your toe in and see if it's right for you is to check out the free course from course careers which I'll put down in the description and the pin comment below now let's talk about alternative paths to consider because if accounting doesn't sound like your cup of tea don't worry there are other stealth wealth careers to consider for instance data analysis is a really good one also Information Technology Tech sales Human Resources etc etc and all of those course careers actually does offer a free course which you can check out down the description and the pin comment below all right Freedom Seekers let's balance these books is becoming an accountant worth it well like any good accountant would say it depends if you're looking for a stable career with high earning potential skills that are always in demand flexibility to work in various settings and the foundation for Financial Freedom then yes accounting could be your golden ticket but remember no career is perfect it's about finding the right fit for you so if you're intrigued by what you've heard today I encourage you to do more research talk to accountants Shadow someone for a day get a feel for what the job is really like and hey if you found this video helpful smash that like button and subscribe for more career changing content now if you want to know other remote jobs that are really good I've actually made videos on that for instance these seven remote jobs that are almost always hiring and you can check that out by clicking right here