The meaning of Earning and Non-Earning Jobs

Kaori Jinsenji

That six-figure degree you're chasing? No, really. The Federal Reserve Board—yes, the actual FRB—just confirmed something a lot of us have felt: the traditional college ROI is, uh, not what it used to be. Thanks, student debt and, of course, the rise of AI. So today, we're digging into how that's shifting the jobs landscape, and what it means for everyone, whether you earn a salary or not.

Eric Marquette

Right, and you mentioned the FRB's risk list. The Fed's been crunching the numbers to predict which jobs are still going to bring home the bacon in, say, five or ten years, and which ones might just...stop bringing home anything at all. It's honestly a bit dizzying. If you haven't seen the stats, the forecasted percentage of the workforce potentially shifting into 'non-earning' roles—that is, jobs where you might be making little to no money, at least not in a conventional sense—could reach up to a quarter, if you lump in caregiving, open-source coding, and certain types of gig work.

Kaori Jinsenji

And that's not just speculation! When I was a little girl, my aunt in Japan did exactly that—she worked part-time at a bakery in the mornings, and in the afternoons, she was the main caregiver for my grandfather. She never called herself 'unemployed.' In fact, her value in the family was enormous—though, I guess, the government and the pay stubs didn't always agree. I remember thinking, you know, isn't she working two jobs? One makes money, one doesn't, but they both kept the house running and gave everybody, well, peace. Where was I going with this...oh right, the FRB's research backs up how common this whole 'non-earning' thing will be. And, honestly, it's kinda already happening.

Eric Marquette

Yeah, and the gig economy just makes it all feel even blurrier. I mean, open-source coding for example—some of that's paid but a lot is just passion. Same with volunteerism, or even folks running community forums or support groups online. If we only measure value by paycheck, the numbers start to feel...lopsided, don't they?

Kaori Jinsenji

Exactly. And with more digital tools, AI, more automation...now the FRB's saying if you don't want your student loans to come back and haunt you, you have to look closely at which fields are at risk of being "algorithm-ed" away. That's causing a lot of anxiety, but maybe it's also an invitation to, you know, get intentional about what we call work and value.

Eric Marquette

So let's pull that thread. If a quarter of jobs might shift toward 'non-earning,' then what are we really calling 'work' now? Some of the most crucial roles out there—family caretakers, local volunteers, people organizing mutual aid or youth clubs—these rarely come with a wage slip. But their impact? Massive! Actually, it reminds me of my neighbor, Mrs. Allen, back in Yorkshire. She coordinated neighborhood safety—unpaid, mind you—for years. Later, when a local nonprofit needed someone for outreach, who do you think they hired? All the skills she picked up in those unpaid roles translated straight over. Money came, just not immediately or, you know, in a linear way.

Kaori Jinsenji

That's such a common thing in Japan too. There's this concept—ikigai. I know we've touched on it before, but it's worth repeating: it's the feeling you get from doing meaningful work, whether or not it pays. I always say, earning money is only one way to feel the value of your time. My aunt? Her ikigai wasn't from the bakery, really, but from cooking my grandfather’s favorite miso soup every day. Looking after him made her happiest. It's easy to miss that because the bank doesn't, like, send you a thank you letter for putting your soul into unpaid work.

Eric Marquette

And, look, as the FRB's data is showing, the value in these 'non-earning' roles can pay off in surprising ways. Like, new connections, skills, future job opportunities—sometimes it just takes a while for the money to catch up to the meaning. If you only chase quick financial returns, you might lose sight of that broader payoff.

Kaori Jinsenji

Yeah, and it all circles back to how we define wealth. In Japan, the best-off families in my neighborhood weren't just those with the biggest cars—they were the ones living in harmony, where everyone felt useful. There’s a subtlety there that’s kind of hard to explain unless you’ve felt it. But once you do, it shifts how you see the rest of your life.

Eric Marquette

And that's exactly why the FRB's report is a wake-up call, not just on AI risk and student loans, but on how we measure value in our lives. Salary is just one metric. There are other dividends, if you will—meaning, connection, skills—that aren't always printed on that end-of-year statement.

Kaori Jinsenji

So how do we carry forward this mindset—especially with all this uncertainty about earning and non-earning work? This is where kakeibo comes in, right? Last episode, we talked about journaling your money, with or without a fancy app, just to get a real sense of what’s enough and where your gratitude lands. That works for everyone—not just folks with a steady paycheck, but also unpaid caregivers, volunteers, or gig workers with roller coaster incomes.

Eric Marquette

Absolutely. And it’s not just kakeibo, though that’s a brilliant tool. The FRB, in its guidance on weathering these changes, always comes back to the basics: track what comes in, yes, but especially what goes out—and what you value most. It sounds obvious, but literally writing down moments you feel proud or satisfied—whether it’s a paycheck or packing lunches for your family—makes a difference. It’s, I dunno, like a gratitude ledger for your real life, not just your bank account.

Kaori Jinsenji

Totally. And with work...well, work can shift—maybe one year you’re salaried, another year you’re piecing it together. The mindful money habit is thinking in bite-sized steps: Where did my time go today? Was it for money, or for meaning, or a bit of both? Either way, you honor all of it. That’s how you avoid feeling like your value disappears just because your paycheck does.

Eric Marquette

And those small, deliberate choices—that’s the lifeline. Whether you’re bracing for AI, considering student loans, or just trying to keep your head above water—making intentional spending and savings decisions, even on tiny amounts, protects your peace. And over the long run, that’s what grows your prosperity. Maybe not overnight, but slowly, one intentional choice at a time.

Kaori Jinsenji

Yeah, and if today’s episode leaves you with just one thing, it’s that your value—and your financial future—aren’t only written on a paycheck. They’re in how you show up, for yourself and for others, whatever work looks like for you right now.

Eric Marquette

Beautifully said, Kaori. Thanks for sharing your aunt's story and this perspective. Always learn so much just talking with you.

Kaori Jinsenji

Aw, thank you Eric. And thanks, everyone, for listening again. We'll be back soon with another episode of A Dollar at a Time, helping you honor every dollar—and every bit of value—you create. Until next time!

Eric Marquette

Take care, everyone. See you next time!