Hey Taylor: I’m finally at a place where I earn a good living, have money set aside for retirement and investments, provide for my family… and all I can think about is working less. How do I slow down, enjoy life, and not start stressing about money again? — Quinn
Hey Quinn: Feels impossible, right? Some think if you want to earn a lot of money, it’s a requirement that you give up all your free time and spend every waking moment at the office. Fortunately, I don’t believe that to be true. Changes can be made to ensure you’re enjoying life. Here are three things I want you to think about.
1. Is it the career or the company? There’s no hard and fast rule with career changes. If you don’t like what you’re doing, you can work hard and get into a new field. The issue is when people mistake a bad job for a bad career. If the worst part of your day is the commute or a coworker that you don’t get along with, it’s probably not time to start from scratch. Conversely, if you work at a bank and detest the sight of numbers and the smell of money, you might think of doing a hard reset. Whatever you choose, make sure you put some serious thought into why it is you want to shake things up.
2. How are you spending your money? The more you make, the more you’ll spend. This is a simple truth for most people, but that doesn’t mean you can’t be smart about it. While buying material possessions provides a quick thrill, have you thought about some services that might actually buy you more time for enjoying your life? Hire a maid to cut back on the time you spend cleaning or take advantage of a delivery service so you spend less time in the car. If you reorganize and reprioritize your spending, you might find work is actually much more bearable than you thought.
3. What’s your forecast? Take a step back and think about your job, your immediate future, and your long-term goals. Do you want to work less because you’ve had a few stressful weeks, or is the struggle consistently demoralizing? Are you close enough to retirement that you’re just getting a little antsy and want time to move faster? Are you working too hard in hopes of an early retirement, and burning yourself out in the process? With all the work that goes into building your career, it’s easy to get caught up in the process and forget to take inventory of your life. Before you do anything drastic, take a second to reassess.
Your happiest life is out there and you might be closer than you realize to living it. Think about what you really want and what you’re most driven to do, and you’ll find yourself on the right path in no time.
Disclosure: Information presented is for educational purposes only and is not an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. To submit a question to be answered in this column, please send it via email to Question@GoFarWithKovar.com, or via USPS to Taylor Kovar, 415 S 1st St, Suite 300, Lufkin, TX 75901.
