Learn Financial Responsibility: Lessons from Former Facebook VP Paul Ollinger
Before stepping down from the company, Paul Ollinger, was a vice president of sales at Facebook. Raised in a middle-class environment, he grew up with a scarcity mindset. Today, he aims to impart lessons about gratitude and prioritization to his own kids. This essay is based on a conversation with him. He is the author of “Reasonably Happy: The Skeptics Guide to Achievable Contentment“.
Early Life and Financial Lessons
As one of the six kids raised in Atlanta, Paul’s first encounter with financial responsibility came when he was getting his first cavity filled. His father’s advice to him was to skip the novocaine to save $20. This was a clear indication of his family’s approach to finances during his childhood.
From Facebook to Financial Freedom
Paul’s life took a turn when he became one of the first 250 employees at Facebook. After leaving the company, he achieved financial freedom due to his smart choices and generous stock options.
Raising Kids in a Different Economic Reality
Paul’s kids are being raised in an entirely different financial environment. This was highlighted when his son asked about hiring a private chef after visiting a friend’s home.
Teaching Kids Financial Prioritization
Paul aims to teach his kids financial decisions’ prioritization using a modest monthly allowance. This method allows them to understand that money isn’t infinite and buying one thing might mean not being able to afford another.
The Freedom Financial Security Brings
Financial security has enabled Paul to pursue his dream of comedy. Even though it pays less, he values professional flexibility more than the status of flying private. He believes that happiness comes from gratitude, not from the amount in your bank accounts.
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