Category Archives: Career

Start Out on Your Own With This Essential Advice

This post was contributed to Leisure Freak by Linda Chase, creator of Able Hire. 

Starting out on your own can be a scary concept, but it also comes with a lot of freedom and possibilities. For young people who have never been without a guardian’s help, striking out into the world is an exhilarating time that can be made even better with a little planning. Whether you want to learn to manage your money or find the perfect job, it’s important to start right away so you can avoid issues down the road and remain independent. Taking advice from those who have been through it is a great start, and you’ll find great tips on how to manage your lifestyle for early retirement at Leisure Freak. You can also think about how to bolster your skills in order to land your dream job and maximize your earning potential. 

Start Out on Your Own With This Essential Advice

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Go back to school

It can be difficult to imagine going back to school if you’ve just graduated and had a taste of freedom, but sticking it out for a few more years can help you reach some of your career goals more quickly. The world of technology is a great place to start since it offers some of the highest pay rates out there, and you can earn your degree online while working or taking care of other obligations. Look for a program from an accredited school that offers competitive tuition rates; a bachelor’s in Business Administration or IT Management typically takes about 41 months to complete, and then you’ll have the benefit of a higher skill level when you’re ready to search for a job.

Make a great first impression

When it’s time to land your first big job interview, it’s important to make a solid first impression. This means dressing professionally, doing some homework on the company ahead of time so you can wow your interviewer, and creating a well-thought-out resume that includes everything they need to know about you. Practice sitting through a mock interview with a friend so you’ll be prepared for some of the questions they’ll be asking; this can help with nerves on the big day.

Get a handle on your money

Whether you’re able to land your dream job on the first try or need to stick it out somewhere else for a while, it’s crucial to learn how to manage your money. It’s about more than starting a savings account; you also need to make sure you understand exactly where your money goes each month. Learn how to create–and stick to!–a budget, and start an emergency fund that’s separate from any other savings. This is essential for unforeseen costs and will give you peace of mind in the event that you lose your job, have to find different housing, or need to make repairs on your car. 

It’s also a good idea to keep your debt under control. This can be extremely challenging when you’re first starting out and need so many costly things–furniture, work clothes, and transportation included–but running up credit cards will only come back to haunt you later. 

Don’t neglect your health

Living alone and becoming more money-conscious can sometimes lead young people to neglect their health by passing over checkups or eating a lot of unhealthy foods because they’re more budget-friendly. It’s important to stay on top of your mental and physical wellness by making regular visits to the doctor and dentist and eating right. It’s not always easy to shop healthy on a budget, but it can be done if you know where to start.

 

Starting out on your own takes a lot of planning and hard work, but it can be the best time of your life if you learn how to prepare for the future. Look for online resources that will help you along the way, especially when it comes to your finances.

Have a question about funding an early retirement? Reach out to Leisure Freak today.

Much thanks to Linda Chase for contributing this informative article. It comes at a time when many young people will soon be leaving school to start out on their own.

Author Bio: 

Linda Chase created Able Hire to help people with disabilities build rewarding, successful careers. She hopes Able Hire will be a resource for people with disabilities seeking jobs and for hiring managers seeking a better understanding of what people with disabilities have to offer.

10 High Paying Jobs That May Surprise You

This post was contributed to Leisure Freak by freelance writer Hannah Boothe.

When you think about making a six or seven-figure salary, you probably think of a career as an attorney, a doctor, a chief executive officer, or a top NBA or NFL athlete. However, technology has opened doors to career opportunities that have made millionaires in relatively short periods. Most of these career paths are not familiar to many. Below is a list of the top 10 high-income jobs that are likely to awe you.

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1. Cloud Computing Professional

Cloud computing is becoming increasingly popular as most organizations seek to cut down on costs. A career as a cloud architect or venturing into cloud computing consulting is by all means worthwhile. With thorough knowledge in cloud application architecture and a great understanding of popular cloud computing platforms such as Azure, GCP, and Amazon Web Services, you are set to smile all the way to the bank by utilizing your in-demand skills.

2. Blockchain Engineer

You will be tasked with the development and implementation of solutions and architecture using blockchain technology like a professional in this field. Spending on the blockchain is expected to increase exponentially, and tapping into this by acquiring thorough knowledge in programming and having a firm grasp on technologies behind R3, Ripple, Bitcoin, and Ethereum will come in handy in landing you that six-figure salary.

3. Product Manager

If you are creative and good at leading teams towards the development of unique products and solutions, then a career as a product manager will be fulfilling and financially rewarding. A product manager determines the framework around a product they want to be developed and oversees the process from conception to launch. It is of the essence to understand the product lifecycle process, have a thorough knowledge of tools such as JIRA and Pivotal Tracker, and possess good analytical skills if you want to pursue this career path.

4. Data Scientist

While it may seem obvious that a career as a data scientist comes with a good salary, many downplay this as they do not realize the vital role played by these professionals and why they will continue being in demand in the long term. A data scientist is tasked with the analysis and interpretation of complex data that aids entities in making good decisions on time.

5. Customer Success Specialist

Being a people person can really earn you good money. As a customer success specialist, you will act as an advocate for your company and act as a client liaison. Having both hard and soft skills will ensure that you thrive and stay in demand. The beauty of this career path is the growth prospects associated with it, as one can quickly progress to a chief executive.

6. Behavioral Health Technician

With global advocacy on the importance of mental health, there is an increase in demand for professionals specializing in the treatment of various behavioral disorders. While a degree in a particular field is not required when pursuing this career path, thorough knowledge of the pattern of behavior being treated is key.

7. JavaScript Developer

Thorough knowledge of this programming language will ensure that you reap big as it is one of the most sought-after software development skills. JavaScript developers are in great demand as they are responsible for ensuring that a web application’s visual elements are working as they should.

8. Cybersecurity Expert

Keeping company and customer data safe is a top priority for every company. With annual rises in data breaches, cybersecurity experts are increasingly becoming fundamental in ensuring a smooth flow of operations without outside interference. If you are tech-savvy and have a firm grasp on networks and firewalls, then this is the career for you.

9. Digital Marketing Specialist

Digital marketing specialists are some of the highest-paid professionals. A diverse skill-set is, however, required when pursuing this career path. From SEO, SEM, and Marketing in the various social platforms, these must be at the fingertips of a professional in this field.

10. Business Development Executive

Sales roles have experienced a lot of demand in the past year, especially in the tech and science fields. Business development executives are especially sought after to help in the generation of leads and follow-ups and certainly earn well while at it.

 

With online courses in the disciplines mentioned above being available for free on YouTube and at affordable rates on platforms such as skillshare, acquiring them has never been easier. The majority do not require you to have a college degree to get started and can be completed in a year or less. A shift in mentality from traditional well-paying jobs is certainly required. 

Much thanks to Hannah Boother for contributing this post sharing some high paying jobs that may surprise you during these times of employment opportunity. Timely inspiration for skill improvement and a possible higher paying career.
High Paying Jobs That May Surprise YouAuthor Bio-

Hannah Boothe is a freelance writer native to Northern California who spends her free time developing herself. Hannah enjoys the outdoors, she goes hiking whenever the weather permits and enjoys practicing yoga. She carves out time to journal and read whenever she can. She loves adventure and connecting with those around her. 

Tips For Achieving Job Success

This post was contributed to Leisure Freak by the site Value of Stocks. The first step in reaching financial independence is earning income which requires having a level of job success. Here are some tips for effectively choosing how best to do that.

It is fairly easy to get lost in this life. Not knowing which path to take to reach your goals is fairly common. We all want to achieve some kind of success, probably in different areas. Wealth perhaps, or financial freedom. There are multiple ways to achieve your dreams and your goals. Not all of them are the same, but they require a solid foundation that is similar and independent from the path you choose to take. 

Tips For Achieving Job Success

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Think Of Job Success As More Than Money

Find Your Calling

This is perhaps the most important step to achieve success. I am not talking here about financial success but a successful craft in which you can specialize. Finding what you love to do is perhaps one of the most important steps to become happy and successful. No matter how much financial success you achieve, it isn’t worth doing something just for the money and the final outcome. You should focus on doing what you love, and doing it everyday. This is one of the keys to achieve your ultimate goals. Finding your calling is as important as finding the path to financial freedom. It is perhaps the most important step you should take. 

Although the numbers are debatable, it is estimated that 85% of all the people are not happy with their jobs. It is just foolish and masochist to spend your whole day doing something you don’t like, in order to get promoted and still do something you don’t enjoy. Just for the possibility of reaching a certain financial goal. It is rather important that you spend most of your time doing what brings you joy. This may certainly not be the most profitable job you have in the first place. But your love for that activity will ensure that you can constantly get better.

Working for Someone or Be Your Own Boss

It takes a special trait of character to go into business. Entrepreneurs are people that are willing to take a risk, working multiple hours for something that might ultimately fail. This should not discourage you at all. Most of the time entrepreneurs fail, but the lessons you can learn from failing are far greater than the ones, success might teach you. It also has to do with personality, some people like to have a fixed job, and are perfectly happy working for a company for a long time. I am not forcing you into any direction here, it should be a personal decision, and you must take that decision early on in life. Mainly because failing as a young entrepreneur is something uncomfortable but rather easy to overcome. When you reach a certain period in your life, where you have multiple responsibilities. Your family might even be dependent on you, there is very little room for failure. The sooner you start your entrepreneurial endeavour the better.

Start a Company

If you are starting a company there are three main ways to succeed. I will try to explain all of them so you get a better perspective.

1- Better Product/Service

One of the ways to succeed is to start a company which has a superior product or service. This is extremely difficult, because most of the time there are many other competitors trying to reach the same objective. Although it is not impossible it is still a far fetched idea, that might help you achieve this goal.

This is not by far the only way of achieving your goals. There are a number of ways to succeed without being an incredible innovator. Just look at Facebook as an example, at the time, there were numerous other social media platforms that were already up and running. This should also reinforce that no matter how good your idea for the product or service is, you have to execute it perfectly. Business success is much more about execution than the idea itself. Many people might have the same idea, but the execution is the key differentiating factor. This leads us to number two.

2- Better Way of Doing Things

This is the key for most of the business success. It is not about the idea itself it is all about execution. You will also find that some business opportunities lie in identifying a way some things can be done better. Let’s look at Walmart, there were retailers before them. What made them stand out, was their execution. There wasn’t any revolutionary product or service, just a much more efficient way of doing things. 

3- Cheaper Way of Doing Things

This leads us to number three. Executing with the lowest cost. This is another way that sets apart companies, solely based on their profitability. It is inherently tied to the execution part of the business and more specifically regarding efficiency. If for some reason you think there is a better, or more efficient way of conducting a certain business. And that translates into cheaper cost. You can pass that towards your consumers and it should allow you to grow over time.

Conclusion

I hope you were able to learn something from this. I would go even further and I expect you to find what you love doing, and spend the rest of your life doing it. Just like I love to write about finance, and try to help people think outside the box. Life is short and I wish you all the success and happiness you can achieve. Remember life is not about the material things, it is about doing what you love and meaningfully impacting the ones you like the most, family and friends. You won’t be in your deathbed missing all those hours spent doing something you hate, for that hefty paycheck or the large amounts of money you made. Focus on what is important and good luck.

This article was contributed to Leasure Freak by the site Value of Stocks. 

Author bio: Value of Stocks is an independent financial information provider. Focused on analyzing stocks with a value investing approach. Our main goal is to help investors make better investment decisions.

Face It, We Are All Expendable: Financial Viability Countermeasures That Matter 

Our whole life is spent doing the best we can. We work to improve our careers, create meaningful relationships, and try to build a better financial future for ourselves and our family. But sometimes that isn’t enough and without warning it can all be crushed. I hate to burst anyone’s bubble, but we are all expendable. Face it, all of our efforts can become meaningless in a world where someone is constantly picking winners and losers. It’s hard enough watching our own steps. But the actions of others can undo everything no matter how well we are doing. Knowing that matters because we can stay open to the possibility within our plans and include financial viability countermeasures. Instead of blindly leaving our fate to chance, we should plan and act to counter our expendability.  

Face It, We Are All Expendable: Financial Viability Countermeasures That Matter 

There Are Many Ways Where We Are All Expendable

The economy and employment conditions are doing pretty good right now. However, there are signs warning that it might slow. For some it has already started. We’re all conditioned to believe that hard work, education, skills, reliability, preparation, and a positive attitude will keep us in the success zone. When things are going well it’s easy to be content, believing it will roll on forever. And it just might. Unfortunately that isn’t always the case when the fickle finger of fate selects us to lose. Sometimes our expendiablity is framed as part of a noble cause, for the better of many, or simply it just sucks to be you. 

My first memory of expendability

It seems unthinkable today. Having your life and chosen future plans made expendable solely on gender and date of birth. As a young teenager I was fully aware what hitting age 18 meant. My poor working class keister could get a draft notification for the jungles of Vietnam. 

Unable to get deferment through college or dodging the draft with wealth and connections, or having either to get a less lethal non front-line jungle assignment where us poor boys were sent, meant being expendable. 

It’s not personal, it’s just business 

A downturn in the economy, business, or just a change in direction and the picking of winners and losers begin. When that happens a variation of the same statement is told to thousands of the laid off, it’s not personal, it’s just business.  

Sometimes we can see this notification of our expendability coming when it’s based on last hired – first fired or by merit when we know we rank lower on the merit bell curve. Other times we can be blindsided. Especially when we are expendable in this picking of winners and losers and laid off for what we are, not what we do or how well we do it.  

Technical advances, innovation, and shifting trends 

We can become obsolete or replaceable by lower cost employees, innovation, or even shifting trends. We can be the best at what we do, but we can be left behind if we aren’t paying attention. Our expendable threat can come from companies chasing lower employee cost through offshoring, automation, and insourcing, to shifting consumer trends that our careers rely on.

I experienced this in my first career and many talented hard working people were dismissed. Advances in technology and consumer trends started to crush the century old landline telephone industry. The same thing happens from manufacturing to retail

Politics, policy shifts, big money lobbying, and ……..

There’s always someone of authority picking winners and losers that can cost us financially. And it isn’t limited to the corporate executives and managers that rule our paychecks. There are also our elected officials who decide who among us is expendable so they can apply favor somewhere else.  We adjust to stay relevant and financially viable by playing by the rules and then they change them. Through no fault of our own someone makes decisions that upends years, even decades of hard work and plan execution.

They can spin rationalizations all they want. But it’s just another form of “it’s not personal” but with a different flavor of “it’s business”, and in some cases it’s a dirty business. Policy shifts can make us expendable, from those toiling in the rat race to the retired. Here are a couple of the latest examples- 

Financial Viability Countermeasures to Mitigate Expendability

There’s no way to completely avoid being deemed expendable and having our finances and lives tossed out the window. What we can do is mitigate the damage when we are chosen to lose. 

Set goals and don’t be complacent

When things are going well it’s easy to be complacent, believing it will continue forever. But with the many ways winners and losers are chosen in the workplace, our best may not be enough once the tide turns. When we are needing paychecks to meet our financial goals, we need to constantly set work related goals to improve our personal brand to make ourselves professionally attractive. Not only to help avoid expendability, but to have the chance to recover quicker if we are made expendable. 

Being good at what we do is a great benefit and we should enjoy being where we are. But we should always be looking for opportunities to move forward, in our field or another and evolve. Stay in front of shifting trends and innovation to mitigate expendability.

I have decades of experience surviving a never ending layoff environment brought on by everything under the sun. Government ordered breakup, company merger, mismanagement and executive corruption, tech bubble burst, economic slowdown, shifting consumer trends driven by innovation, and the great recession. Even when I was part of the expendability target group for “what” I was. The same attributes that are attractive to our employer to help avoid our expendability would also be attractive to a new opportunity if the need arises.

Take control of debt

What’s worse than losing your income? Losing your income and having debt payments. When it comes to financial viability countermeasures, becoming debt free ranks high. Our chances of mitigating financial harm and beginning recovery increases because we have more options. We can stretch our financial resources like severance pay, unemployment insurance, or savings farther. We can also accept a lower paying position until we can transition to something closer in earnings to what we had.

There was a big stress difference between the layoff years when I had debt and the ones after I became debt free. Being debt free I knew we could weather the storm with less money needed. That allowed me to concentrate on my work to maintain employment viability instead of worrying about financial survival after any expendiblity event.  

Have an emergency fund

We benefit from having an emergency fund for many situations. One of those emergency situations is the loss of our income. Decide on how much to sock away. Most suggest a minimum of 3 months basic living expenses

When doing this calculation it’s also a great time to look at where your money is going. This is the perfect opportunity to set a budget and cut wasteful spending. Doing that will not only decrease the amount needed in the emergency fund but it’s another beneficial aspect added to our financial viability countermeasures. It frees up income to pay off debt and increase saving for both our emergency fund and retirement. 

Have a diversified investment portfolio

When it comes to investing, everything has been done to make stock investments winners and bonds, saving accounts, and CDs losers. With that being the story for years now, it’s easy to jump on the index fund investment bandwagon and go all in. But having a diversified investment portfolio that matches our long-term goals and short-term needs is another key part of our financial viability countermeasures. Because one day the expendability formula may change. 

History shows that a diversified portfolio will lose less and recover faster during any economic downturn. Claims that this time it’s different and ignoring history is easy to do when stocks are high flying. But by doing so we can be placing ourselves on the financial expendability list down the road when we can least afford it. Near retirees and retirees need diversification as a primary part of their deployed financial viability countermeasures.

Question government policy changes, investigate, and vote

Many times there is nothing we can do about avoiding government caused expendability pain. What we can do is get in front of it to soften the blow. I’m sure that many farmers today wish they could have had a way to get ahead of what’s happening to farming now. 

Another example is when the 2018 tax reform was passed. There was plenty of hype and people saw a bump on their paychecks. With only minimal working class tax cuts, what caused the bump was mostly about how payroll tax withholding tables where quietly changed. Blindly trusting the change left many with either a smaller tax refund than expected or owing money. Some owing a lot of money due to new deduction restrictions. It upended personal financial situations across the country. 

Question policy changes to see exactly what it really does. It’s always a game of picking winners and losers with a dose of unintended consequences. Investigate and keep your eyes open to possible impacts. That way you may have a chance to make adjustments to beat it or at least prepare in advance for any hits. 

Prioritize maintaining your relationships

It’s easy to get lost in our work and professional identity. But we all need relationships both professionally and personally. Once made expendable, having strong relationships is one of the key financial viability countermeasures we can rely on. Our network and personal relationships can help us to get a foot in the door of opportunity and begin our recovery. They also can keep our spirits up or offer a hand. Isolation is the last thing needed when tossed aside as expendable. 

Last but far from least, be sure to care for your relationship with your spouse. Nothing is worse than the surprise of being deemed expendable at home. Devastating both on a personal level and a financial one. 

Don’t Live Paranoid, Just Live Aware 

Face it, we are all expendable. Some live a charmed life and never taste or even recognize it. But we should all be aware that it’s always there. We all accept that we need to be aware of our surroundings and what we are doing to stay safe while out and about in this world. The same is true in our careers, retirement, and personal finances. We either leave everything to fate or take countermeasures to improve our odds.

The picking of winners and losers by those in power swings wildly. The trick is living and working in a way that makes the best of everything we have while never allowing complacency and a false sense of security add to our expendability risk.

Retirement and Leaving a Workplace Legacy

Someone close to me is retiring early at the end of the week. She is consumed with thoughts about her pending Retirement and Leaving a Workplace Legacy. Many people think about leaving a legacy at work and I had the same mindset with my first early retirement. To some people this may sound crazy. But it is a very common emotion that many people have before pulling the retirement-trigger from a long-held career.

There seems to be two far-end retirement camps. The extreme ends are those who could care less and even do all they can to be dismissed before they retire. They try to secure a severance package and/or start their retirement collecting unemployment payments. On the other end there are those who don’t want to do anything or leave behind anything that will tarnish their good works. Certainly there are those who fall between the extremes.

Retirement and Leaving a Workplace Legacy – Your What And Why

If you are having any thoughts about leaving a legacy at work or think you might then do so understanding your legacy’s What and Why. Take it from me, most of us miss the boat. There are a lot of people who after years of financial planning and taking successful action have this retirement and leaving a workplace legacy issue gnaw at them. It can cause misguided efforts to try to fulfill their desire of leaving a legacy at work in the final months, weeks, or days of their career.

Non-financial aspects of early retirement, Retirement and Leaving a Workplace Legacy / leaving a legacy at workThere is a desire to leave behind something meaningful to be remembered for after giving your all towards a long career. Especially for those who worked for the same employer for many of those years.

I know that I did and I have talked to a lot of people who had the same thoughts. But I admit I missed the boat on what was really going on and what the reality of leaving a legacy at work truly is.

Perhaps this is a boomer issue or that of older Gen X where we worked many years under the earlier employer/employee culture. It may sound crazy to many younger employees today to concern ourselves with leaving a legacy at work. Especially in this current mobile employer/employee career environment. However I believe that anyone who fully engages into their career and their company with the idealistic view of always working hard to make a difference will one day struggle with this same legacy issue.

Retirement and Leaving a Workplace Legacy – Your What…

Understand What you truly feel your workplace legacy is.

  • Was it the mentoring you did?
  • Is it all the operational processes you created that are now the backbone of the organization?
  • Was it transferring your knowledge through the formal training classes you developed and taught to all the new talent coming through the company?
  • Maybe it was how you freely shared your knowledge and experience.
  • Was it always being there when the stuff hit the fan and staying late to help your co-workers out?

These examples were what I considered my legacy for career #1. Leaving a legacy at work is about what you have achieved and passed on to others. That is what lives on after your retirement. It is about having a defining purpose for all the work you did. Purpose that is bigger than yourself just doing a job.

There was no way I could slack-off to get let-go with a severance package and tarnish all that I did. Even though it would have made more financial sense. There was a lot of personal sacrifice through my career. I couldn’t sell that for some temporary financial gain. I didn’t want to be remembered as a go-getter who in the end dropped the ball or couldn’t do my job any more. Leaving a legacy at work was something I really cared about.

Ask yourself Questions to find your “WHAT”
  • What is it exactly you want your colleagues to remember about you?
  • Exactly what is it that you want any of your customers, clients, and external stakeholders to remember about you?
  • What is it of your work that you believe is important to be passed down to everyone coming up the ladder at your work?
  • What is it that you have done that helped and will continue to help your organization succeed?

Retirement and Leaving a Workplace Legacy – Your Why…

Once you know what you consider your legacy is then understand your WHY.  Why you feel the need to leave a legacy at work. There must be a reason why you have this gnawing desire to leave a workplace legacy.

For me it was about all my personal life sacrifice. The constant engagement. Trying to make a difference every day. It was about making sense of a long hard career and mentally trying to justify all the hardship and BS as something bigger than myself. Trying to reconcile in my mind that it was more than a paycheck.

How much of our desire to leave a workplace legacy is just vanity or ego?

For those of us in the “leaving a legacy at work” camp we all want to be liked. We want to be fondly remembered. I admit that was also part of my Why. Truthfully, if that didn’t matter to me I could have been one of the countless mediocre. Those who barely engaged and never advanced or could be depended on.

Those of us who shoot for financial independence and early retirement are very driven and that is also how we are in our work.

The hard truth. In the end I believe the biggest reason for wanting to leave a workplace legacy is nothing more than our own mind trying to deal with our walking away. Walking away from what was a huge part of our life. It’s about fooling ourselves into believing we leave it better than we found it. But it has nothing to do with them and is all about ourselves. That isn’t necessarily a bad thing.

Retirement and Leaving a Workplace Legacy – The Reality…

When you have identified your Legacy What and Why it is obviously the accumulation of your career. No busting your keister at the end is going to make much of a difference.

Even if in the end we did leave the organization better than when we found it, most workplace legacies are short-lived. The reality is that our workplace legacy will be very limited to those we mentored. To those we had a personal relationship with. In many cases it will only last with them while they stay in the same position/organization that we shared. Also realize that it will fade in short-time.

That is one of the differences between yesterday’s and today’s employment culture. It is now always moving. You seldom hear of anyone staying in a job very long. People are either taking an internal company transfer or heading to a new company. Even if they do stay, your past organization may change direction with new management every 6 months. Making all of your workplace accomplishments and contributions obsolete and forgotten.

Even if your organization and your closest colleagues stay in place. Your retirement and leaving a workplace legacy will have no institutional or organizational memory. No matter what you accomplished nor how many fans you have. Our work and accomplishments belong to the company. They can do with them what they want to.

The Reality about Retirement and Leaving a Workplace Legacy

The reality is, our workplace Legacy WHY is for our own peace of mind and going into retirement with a positive attitude. Retiring and having a feeling of accomplishment. It is about retiring on our own terms. Without any doubts and going full speed ahead. Retiring without ever having a feeling of retreat or regret.

Our workplace Legacy WHAT is all about the personal relationships we have made during our career. It is not about the accomplishments. It’s about how our accomplishments, efforts, and good work helped others to do their job. How our accomplishments made part of their lives easier. That is what will be remembered about us after we retire.

Final Comments on Retirement and Leaving a Workplace Legacy

What I told my pal was you have created a legacy of good work through your entire career. So don’t kill yourself in the final weeks or days trying to secure it any more than it already is. It is all about those who you enjoyed working with and those who have enjoyed working with you.

  • Still do your job well. Do so with the realization that your work is soon finished. It is OK to have a little celebration hidden in your stride. You never want to burn bridges. If you want to do the retire early and often thing you can count on them as a reference.
  • Look at your Legacy What and Why and if there is a legacy to be remembered for, it has already been accomplished.
  • Do let everyone know daily how you have appreciated working with them. Be honest about any work you have that is unfinished and may need to be picked up. It isn’t necessary to work extra hours to clear everything up before the big retirement day.
  • Transition and delegate all that you have left on your plate. Leave without negative feelings.
  • Your work is now the company’s to deal with and do what they want to do with it. Just like all of your past contributions to the organization.
  • Those close to you will still remember you fondly. You don’t have to kill yourself in your final stretch to have that.
Retirement and Leaving a Workplace Legacy is more about getting our own mindset right.

Our true workplace legacy is within our mind where it will endure far longer than in the actual workplace. At least that is my experience and that of those I have had an honest talk with about it.

Did you retire with feelings of wanting to leave a workplace legacy?

Do you see yourself falling into the workplace legacy camp? Or more towards doing something to get yourself let-go and collect some severance and/or unemployment cash? Not that there is anything wrong with that.

Workaholism Survives Financial Independence

I have news that may surprise those on the journey to financial independence and perhaps also to those already enjoying the fruits of reaching their freedom goals. Workaholism Survives Financial Independence and Early Retirement. Just because you reach the point where you no longer NEED to work doesn’t mean your Workaholism will be automatically cured. The key is first recognition and then taking action as soon as possible.

Some people will joke calling themselves a workaholic when putting in extra hours on a project. When temporarily putting their personal life on hold. The truth is that anyone suffering from the negative impacts of Workaholism have nothing to joke about.

Workaholism is defined as valuing work over anything else.

There is no balance where their life can place value on or allow them to enjoy relationships, hobbies, or leisure.

Workaholism can cause serious health issues and destroy their marriage and other relationships.
Workaholics will work even if it is all-consuming.

Living without happiness or pleasure because they have no other passions, interests, or activities they would consider doing instead.

Workaholism is like an addiction.

An addiction with nothing but negative outcomes. Where the workaholic may want to stop because they recognize the damage it is doing but can’t stop.

The FI Community Has Its Share of Workaholics

Those who are successfully on the path to financial independence certainly have an ambitious and driven type of personality. They work hard to generate income. They budget, eliminate debt, become super-savers, side hustlers for extra income, etc. Chances are there are at least some workaholic traits if not full-blown Workaholism going on within them. Whether realized or not.

I know I suffered from it during my first career. I find even now after financial independence, early retirement, an encore career, and a second early retirement that I am not going to ever be cured. I will always be a Recovering Workaholic.  I’m not kidding about that.

It shows up during any project I am working on. I can become all consumed and can’t stop myself until it hits me that I am ignoring what is going on around me. All of the important things in my life drop by the wayside. I usually see it happening and catch myself where I can then pace myself and enjoy the moments passing by with my wife and family.

I have to remind myself that just because I am doing what I want to do and am passionate about doing that it is all too easy to fall into the same Workaholic traps. This of course results in my neglecting everything else.

Workaholism Does Survive Financial Independence and Early Retirement

I can tell you that Workaholism Survives Financial Independence and Early Retirement. It’s not just for those who have to serve their jobs, climb the corporate ladder, and accumulate as much money as they can get. You bring it with you wherever you go and are.

My Workaholism actually started early in school where I ignored everything else in my effort to earn straight ‘A’s. It has been with me much of my life. Fortunately I can now recognize my slips and put a stop to it. For others it’s not so easy because their Workaholic addiction takes over and they don’t even realize it until their health, relationships, or attitude toward life fails.

Workaholism Survives Financial Independence so Know the Signs

The first step to avoiding or beginning to stop Workaholism is to know the signs and recognize whether you have the traits and habits that put you in danger.

To figure out if you have workaholic tendencies, habits, or perhaps full-blown Workaholism, Workaholics Anonymous suggests you ask yourself these 20 questions.

Having only Three positive answers are considered an indicator that you may have a problem with Workaholism:
  1. Do you get more excited about your work than about family or anything else?
  2. Are there times when you can charge through your work and other times when you can’t?
  3. Do you take work with you to bed? On weekends? On vacation?
  4. Is work the activity you like to do best and talk about most?
  5. Do you work more than 40 hours a week?
  6. Do you turn your hobbies into money-making ventures?
  7. Do you take complete responsibility for the outcome of your work efforts?
  8. Have your family or friends given up expecting you on time?
  9. Do you take on extra work because you are concerned that it won’t otherwise get done?
  10. Do you underestimate how long a project will take and then rush to complete it?
  11. Do you believe that it is okay to work long hours if you love what you are doing?
  12. Do you get impatient with people who have other priorities besides work?
  13. Are you afraid that if you don’t work hard you will lose your job or be a failure?
  14. Is the future a constant worry for you even when things are going very well?
  15. Do you do things energetically and competitively, including play?
  16. Do you get irritated when people ask you to stop doing your work in order to do something else?
  17. Have your long hours hurt your family or other relationships?
  18. Do you think about your work while driving, falling asleep, or when others are talking?
  19. Do you work or read during meals?
  20. Do you believe that more money will solve the other problems in your life?
Workaholism isn’t a joke even though society may accept it and it is thrown around as a joke.

If you find you have a problem with Workaholism that you cannot control and it is negatively impacting your life, health, and relationships you can find help. It can be as easy as tuning-in to your problem and reaching out for more information at Workaholics Anonymous, a “fellowship of individuals who share their experience, strength, and hope with each other that they may solve their common problems and help others to recover from Workaholism”.

Workaholism Survives Financial Independence so Take Steps Early

You work hard to reach your financial goals and finally retire early from a life where you have to work. Your second act doesn’t have to carry your Workaholism of the past. Deal with it as soon as you can. If you haven’t dealt with your Workaholism while still in the Rat Race then don’t think it won’t appear in your early retirement. We leave the Rat Race with all the same drive and ambition that got us to Financial Independence and even though we may shift our focus from serving our corporate masters we can still fall into the same workaholic traps and suffer the same negative impacts. Basically without knowing it we create our own personal Rat Race under the rationalization that I am doing what I want to do.

Steps to Take:

Focus on what is truly important to you.

Obviously by reaching financial independence and retiring from a career-driven mindset we have redirected our focus away from our work and that is huge. Retiring to something is key. When I look at any opportunity that I have interest in or am passionate about doing in my “retire early and often” lifestyle or take on a project associated to my hobbies or home, I have to put aside my workaholic tendencies and stay on track.

Things that should have more importance than working or tackling a big project is Family, Friends, Health, and Leisure to have fun in life. List what is most important to you and swear to focus on dedicating some of your time to them. Even slowing down and being in the moment should be included because making time for all the others is wasted if your mind is always preoccupied with your work or project. Always remember that the things that are truly important can’t be bought and can be easily lost.

Set Limits on the number of projects or work you take on.

I have a lot of projects I WANT to start and someday finish. The trick is to finish tasks before starting another one. Incremental completion helps sooth the workaholic beast so that I don’t feel like I have to cram it all in during a short time-frame, thus robbing time from the important things. If something isn’t working-out then move on instead of wasting more of your valuable time on it. Remember that it is your time that you are spending and it’s too expensive to needlessly run through trying to please people.

Set time limits on projects or work.

Whether it’s which days a week and/or which hours in the day, limit your project or work time so that you always have time for the important stuff. Limit your time doing work and stick to it. Mindlessly throwing massive hours at your project or work only feeds Workaholism and starves the truly important things out of existence.

Assess the value of any project or work you take on.

Do a time-to-benefit analysis (your time vs how much and who [how many] benefit). What is the benefit of completing the work or a project? Are people waiting for you to finish? Is the deadline just one you laid on yourself? Always ask yourself this so you never get caught working on something for the sake of working on something. Workaholics tend to busy themselves with work just for work’s sake. Don’t be that person. If the benefit is low or none then don’t waste your time doing it and instead go hang-out with the family.

Purposely pace yourself.

The worst boss for a workaholic to work for is themselves. That is because they set tight deadlines for themselves with high expectations causing long hours trying to finish. Stop doing that. If you have other people pushing a deadline or requesting a lot of your time then do a real self-assessment and only accept what is reasonable. Then of course don’t let your Workaholism kick in and have you busting keister trying to beat it. Go into every project and work with purposeful time-management and pace yourself so you always make time for the truly important things.

Control your perfectionism.

Stop aiming for perfection in everything you do especially if it’s not necessary to meet your project or work’s purpose. Remember your Time carries a high value and there is always something better to do with it.

Strive to be productive and efficient.

Try to concentrate and get work done within short time-frames. This is so you can later allow yourself to celebrate your accomplishment by taking time to relax. Work smarter not longer.

Final Thought

Workaholism Survives Financial Independence and Early Retirement where our workaholic tendencies and habits manifest themselves in the projects or second-act careers we take on. Unfortunately they can cause the same negative impacts as when we are in a career striving for advancement and financial independence. Fortunately by recognizing our Workaholism we can take steps to control it.

You can still be a hard worker by working with efficiency and produce excellent quality work and not be a workaholic. It’s all about how you manage and prioritize your time and where you value spending it. Our time is finite and once it’s gone it’s gone. Take the Workaholics Anonymous 20 question self-survey and see if you have traits that need to be recognized as needing monitoring and possible elimination from your life.

Did you take the Workaholics Anonymous 20 question self-survey? How many questions you answer YES to?

Never Say Never Just Say No Thank You

I was just reminded of my diplomacy mantra “Never Say Never Just Say No Thank You” when I need to reject an opportunity. I also use it on myself to quell ego and greed. Two insidious human conditions that are counter to the way I want live now. You see, sometimes when you least expect it and are least prepared an opportunity can present itself. After the initial surprise my best instinct is to follow my gut. But then my brain kicks in. You may think that is how things are supposed to work. But my making a shift to a passion driven mindset means thinking beyond money when living my retire early and often lifestyle.

My brain is very good about identifying financial benefits.

Especially after all the exercise it got during the long trek to financial independence. My brain can’t help itself, running the numbers starts-up immediately. However my being open to opportunity in my early retirement does come with important limits. After all it is my finite time I am trading for money when I CHOOSE to accept paid work. In this case the opportunity was aligned with what I have previously identified as work I enjoy doing and have interest in. It even matches up with my last early retirement side hustle but this time my gut immediately said something else to me. It said, “Hell no, not again”.

Passions Can Change so Never Say Never Just Say No Thank You

Sometimes I see or hear about opportunities that look interesting because I have done them before and I am very good at doing it. My ego then will have me consider stretching the work interest and passion limits that I have set. My brain runs the numbers and lets greed chime in to make its case.

But my gut is the gate-keeper trying to calmly keep things balanced and aligned with the passion driven way I have chosen to live. This time with this latest opportunity offer my gut had something important to say.

  • Perhaps it was how my last side hustle turned into an extension and didn’t go as promised.
  • Perhaps the corporate world is just more than Leisure Freak Tommy wants to deal with anymore.
  • Perhaps I am just having too much fun now not doing paid work and not ready for any paid work.
  • Perhaps I just have too much planned now. Projects, travel, celebrations, and whatever I want to do.
  • Perhaps my passions and interests have changed as it just doesn’t fit well with me anymore.
Putting Trust In My Gut

There was no “perhaps” about it. After some self-assessment of what my hesitation and gut was telling me it was all the above.

I hadn’t given it much thought until now so I am surprised with the results of my honest self-assessment which put money totally aside. I really don’t want to engage in Tech anymore. Not as a telecom engineer or technician. Not working in IT and being a business, data, or systems analyst. I am no longer interested in any of it and have scratched those skills and work from my passions list. At least for now. They served me well with my first career, my encore career, and even my early retirement side hustle but I want to move on. I checked off some bucket-list items doing it and now it is time for new adventures when I am ready to begin another.

So to this opportunity I simply said to myself Never Say Never Just Say No Thank You. To the consulting company I replied No thank you, due to current obligations I am unable to accept the opportunity at this time.

It is a truthful response.

How to Walk Away from the Money

  • Ask yourself, if money was no object, would you want to do this work?
  • Set Retire Early and Often (working in retirement) limits tied to and aligned with your interests and passions.
  • Live by the interest and passion limits you set so you won’t dread any paid work you accept.
  • Remember your mortality. I see the government actuary tables  show my life expectancy to be 84. Simply do the math. No sense wasting any of it in misery for money.
  • Remind yourself that your health is best now while younger and don’t put off doing what you want to do until later when older age physical conditions will change.
  • Trust your gut. If it doesn’t feel right it probably isn’t regardless of how much money it pays.
In Closing

I use saying to myself Never Say Never Just Say No Thank You to cope with the fact that my passions and interests can and will change. For all I know someday I may have a change of heart and would enjoy doing tech work again. So I leave myself open to that fact this way.

Life and early retirement is an adventure. You never know what you will find along the way.

How about you. Can you see how your passions and interests can change but see the benefit of saying never say never?

Job Plus Patience Equals Debt Free Degree

When I graduated from High School in 1976 the sad truth was that not everyone could afford to go to college. Not much has changed in that regard.  I had no chance to attend college right out of high school. What worked for me to reach my educational needs and career goals as a low-income honor student is still possible today. That is by using the find the Right Job Plus Patience Equals Debt Free Degree Strategy.

Job Plus Patience Equals Debt Free DegreeAt a time when everyone seems to immediately go the student loan route. A direct route to high student debt. One with no guarantee that a good job will follow after graduating. Maybe it’s time to see if there is room for people to look to an alternative route or strategy. It’s an often overlooked path to take.

That path is to work for a company that is aligned with your career interest and passions.Then taking advantage of their educational tuition aid benefits.

It wasn’t that long ago when I was struggling to balance saving for our kid’s education and our retirement. What we decided to do was go the community college and vocational trade school route. A route where we could handle the cost and keep our kids free from student debt. If they wanted to take it farther we then would have to work it out. But I always had the thought that they can use their early 2 year college education to help them get a job. A job at a company that would offer opportunities they were interested in doing. Then while working use the offered tuition benefits to further their education.

Target the right company.

In my case I wanted to be a Telephone or Power Lineman. I applied for entry-level positions with the thought that after getting my foot in the door I could later get the education required. Then I would have the ability to transfer as an insider to the Lineman position. After living life and working there a few years my interests went a different direction. I ended up taking advantage of their Engineering education benefits and became an engineer. This approach could still work today.

  • Identify what you think you would be interested in to doing for a career.
  • Identify companies that have those opportunities and have educational tuition aid benefits.
  • Take the best job you can get and work your way through a degree or certification and into the career job you want.

Don’t know the direction you want to take in a career?

If you don’t know or there are limited or no opportunities to join the companies you find aligned with your educational and career aspirations then there are plenty of companies that offer educational assistance.

Just taking a quick scan of the company list I have below and you will see retail companies offering educational tuition aid benefits. The idea is to start as early as you can gaining experience and skills in the company that you have joined while improving your education on their dime.

Always move forward and once an opportunity arises to join a targeted company make the move. It may not even be a degree that you go for. Many companies offer non-degree certification education that is tailored specifically for the industry and can be very valuable to your career. That is what I ended up accomplishing to become a telecom engineer.

Patience is needed.

It does take patience to go this route. Most companies will cap their tuition benefit to the IRS annual limit of $5,250 so you won’t be taking a full class schedule but you are working and living life so this is a part-time student situation. Others are more generous and may even offer a sabbatical (even a paid one) to finish your Master’s Degree. However I would think that is rare these days.

For most people this strategy is going to take longer to get the degree or certification but you are working for a company that will most likely value you for being such a go-getter and your chances of a job within the area of your targeted study will be higher. You may take longer to get your degree but you have traded that for not taking years to repay student loans.

I finished my engineering education 10 years after I had started working there but I only started down the engineer path in my 5th or 6th year. It took me a while to figure out what it was I really wanted to do. I continued working my way up the technical ladder and made engineer in my 17th year at the company so you can see patience is necessary to go this route but I had no student debt and I was supporting my family, paying a home mortgage, saving money, and living my life the entire time.

Your Company Paid Debt Free Degree may have strings attached.

Most companies will require that your major/course of study be aligned with your job or a desired profession that is aligned with the business the company is in. For instance I worked at a Telephone Company so my engineering was in telecommunications, not chemical engineering. Other strings-

  • You may have to maintain a “B” average or other achievement measurement for them to reimburse your tuition costs.
  • They may dictate the school that you attend or limit it to online only.
  • You may have to agree to work for the company a set number of years after getting your degree as a condition of their paying for your education.

Finding companies that offer Educational Tuition Aid Benefits

Companies don’t normally go out of their way to advertise their educational tuition aid benefits. But after only a few minutes of searching the web I found a lot of information about companies that do. I have a list below where I checked the links and there is mention and sometimes details as to the amount of employee tuition aid per year that is allowed.

You don’t have to limit your targets to national companies. Many local or regional companies have tuition aid too. When I worked for a regional Bank as an entry-level clerk just out of high school it offered tuition aid as long as it was aligned with the banking industry. The course of study required approval from HR prior to tuition aid acceptance.

I think this is the same kind of strings many companies will still attach but you are getting a killer benefit for it.

Company List for a Job Plus Patience Equals Debt Free Degree Strategy

In closing

I believe that there are always alternatives to the traditional path. Whether it being retirement or in this case education. Hopefully you can see where there is a possibility beyond going to school on student loans. Graduating with high student debt. Trying to find a job in your field of education or any good job for that matter. Then spending years and years trying to pay off the student loans. If you are someone trying to balance saving for your kid’s education and your retirement then maybe you too can see that there may be other ways to make it work.

It doesn’t have to be an all or nothing education strategy either. There could always be some education with low or modest loans before starting a job with tuition benefits. Then move to using the right Job Plus Patience Equals Debt Free Degree strategy to finish as long as your field of study fit inside the parameters of what is acceptable for the educational benefits provided by the company you go to work for.

Always remember that you will need to be a hard worker and good employee since both your job and education will depend on it.

Do you feel that this Job Plus Patience Equals Debt Free Degree strategy will still work today to meet educational and career goals?

Would you consider this less than “today” traditional route to education for your kids to avoid high student loan debt?

Are Perks Instead of Pay Raises Best for You

Are Perks Instead of Pay Raises Best for You or just another Corporate Sleight of Hand? Is this new employer trend something that is really in your long-term financial benefit or just theirs? Today in the Denver Post’s Business section ran an article called “Job Perks Take Place of Pay Raise”. It was a re-posted version of the original Washington Post article from July 28, 2015 called “Companies have found something to give their workers instead of raises”. There was also a similar article May 25, 2015 by the New York Times “One-Time Bonuses and Perks Muscle Out Pay Raises for Workers”. These articles highlight that pay raises are going the way of pensions and being replaced with perks. Perks such as flexibility, gift cards, and occasional bonuses.

I am all for more job flexibility and performance bonuses just like the next person. But this smells of the same garbage that went on in the late 1990s through early 2000s. I think everyone should accept this new employment compensation paradigm with your eyes wide open. There is a huge difference between a pay raise and these other perks. Much should be considered before drinking the Kool-Aid and jumping for joy hand in hand with your employer.

Are Perks Instead of Pay Raises Best for You- The Problem with Perks

The thing about perks is they can easily be cancelled or taken away

Perks are unlike a raise which is usually added to your salary and never taken away. That is what happened to me over many years while I was an engineer in my first career. The company decided that 10% of our salaries should be at-risk and based on performance. So our salaries were lowered. However based on performance I could get up to a 15% of salary as a bonus.

You never knew ahead of time either. You could be the biggest performance animal. Never saying no to staying late or working weekends. Shooting for a bonus is risky. They can erase it at the last-minute for whatever reason they deem. Its like all the good work never happened. But they will still expect it going forward.

Raises however,

if you qualify for a raise as a percent of income rather than a set dollar amount you actually benefit from compounding. That’s because the percentage includes last year’s salary increase. Qualifying for a yearly 10% or 15% bonus on a flat salary year after year is worth much less to you over time. As you lose all compounding. Don’t believe for a minute this is lost on your corporate masters.

Flexibility sounds great.

Having the ability to take time to do what is important to you would be a great perk. So would the ability to shift your hours of work. Or work from your home office occasionally.

If you absolutely love what you are doing then they have almost created a working lifestyle you don’t need to retire from. You can “keep on trucking” living on a perk heavy but a flat salary.

If you don’t love what you are doing then you have a lot of flexibility. But you might be financially strangled to get ahead and unable to meet your financial goals so that you can one day retire.

Flexibility and gift cards are not going to pay off your student loans.

It won’t escalate your financial independence savings rate. Or afford you the ability to buy a home.

Flexibility that offers more free time seems a little iffy to me when over 40% of Americans can’t even take all of their allotted vacation time each year

People loose vacation days because there is too much work and many other career related reasons. So where is this fee time coming from? If you don’t believe me just google “American untaken vacations” and see all the reports.

I know where I last worked they would ask us to pull all-nighters. Just to meet an impossible last-minute executive initiative deadline. They would offer comp-time for all the hours over 40 worked. But when it came time to take the time-off it was always denied and requested we take it at a later time when it wasn’t as busy. That happened over and over and it was never to be taken because it was always busy.

I know many who work from home who are paid a 40 hour a week salary. But because the business knows they work from home they have no boundaries and engage them at all hours. They end up working well over 40 hours a week.

The Perks offered may not even matter to you but that is the new compensation package.

Maybe they offer a free gym membership. but it is close to work, not your home and you already like your gym. Maybe they offer medical insurance but you have good coverage from your spouse or a retirement benefit and can’t take advantage of it. Maybe they offer subsidized bus or train fare into the city or even parking but you don’t work in the city for them.

Maybe its awesome childcare subsidies but you have no children. The list can go on and on. A bunch of perks that is now your new raise-less compensation package.One that doesn’t pay off your debts, add to your savings, or increases yearly to outpace inflation.

What You Should Do If Not Happy About Perks Instead of Raises

You are pretty much powerless to buck the new compensation paradigm if salary-flat perk-heavy is the new company direction. If what is being offered as a perk instead of a raise is no perk for you then here are a few things you can try.

Negotiate a raise.

If you can’t take advantage of the perks then be very open about it. Ask for a raise to cover you. All they can do is say no. In my contracting work they offered some perks I couldn’t use. Like medical insurance, gym membership, and mass transportation subsidies. I made it clear that I was not able to take advantage of the perks. I was able to get another $1 an hour added to my salary.

Flexibility, free time.

If they offer this perk then take it as real-time as possible whether you need it or want it. The company hopes X amount of people will not take advantage of it and will just soldier through the work to make up for those who do take it. As long as it works for them they will continue doing this. It is a numbers game.

Once while working in my first post-retirement opportunity they gave all employees the perk of having an extra holiday on Christmas Eve except us Network employees. We were offered a free-floating day off as the perk to take at a later time. Based on my experience with previous corporate shenanigans I immediately asked for New Year’s Eve day off and it was denied. I then asked for a 3 day weekend that fell between Christmas and New Years and it was accepted.

I took the floating perk day off. Every other single network employee lost the perk day off the next week because the company realized how many free days were on the books and decided to arbitrarily add a new corporate perk rule during the first week of January. The Floating day off perk must be taken in same year offered. After the fact new rules and all the management team would say is it is out of our hands.

If you find yourself with flexible free time then use it to start a side hustle

Start a side hustle gig to make extra money and stay on track for your financial goals. Try to make lemonade from the lemons that the corporate world has decided is in your best interest.

If a salary increase negotiation has failed then any Free Perks offered should be taken

Take the Perk(s) even if you don’t want them or use them. Like I said it’s a numbers game. A gym membership that you don’t use costs them and until they realize that they are not saving a lot of money then maybe raises will return.

Set financial internet triggers for your company

Have the internet financial alerts set or pay attention to news releases so you can occasionally check and see if the board of directors are allowing executive raises every year or more often. If they are paying raises to upper management and telling you no then it is time to find a better company to work for.

In Closing

My already reaching FI (financial independence) and living a “retire early and often” lifestyle means that I can dig-it big-time having work flexibility. But if I was trying to still grow my portfolio or pay off debt then perks are not going to cut it. The articles made this out to be a huge benefit to the millennial generation who are in the work force. I can see some of it but how can this be good for millennial FI goals and their student loan burdens? This sounds more like Corporate World shenanigans to me.

Are Perks Instead of Pay Raises Best for You or do agree with me that this is just another round of Corporate World shenanigans disguised and sold as a great deal?

From Age 20 to Financial Independence

I have got into some deep stuff by contemplating the beauty of life and the mystery of destiny. That is by looking back at how I started a career and my eventual journey to financial independence. It started when I was 20 years of age. What I didn’t think about then and can fully see and realize now is how some decisions and actions I took in my 20s made such a huge positive impact on my future-self. How it propelled me From Age 20 to Financial Independence at the speed of life.

What I mean by the “speed of life” is I had a life to live and even though the last thing on my mind then was worrying about financial independence or retirement, I was laying the groundwork by way of being financially responsible for just that. I didn’t have to wait until I was retiring to feel the positive impact of the actions I took in my 20s either. It was felt in my 30s and I was very thankful to my earlier 20s-self for doing so.

My age 20 FI Plan.

To be truthful I didn’t have anything called a FI Plan or Early Retirement Plan when I was 20. I had a life plan and that was to find a job doing what I considered my dream job that paid better than the one I had. I knew I wasn’t going to be able to attend college for a while and I just wanted to be able to support myself and live my life with my wife and my eventual children. The focus of my age-20 life plan was simple:

Know what I wanted to do for a living and target the right company.

Get a full-time job at a company that would provide potential income growth, had benefits including some kind of retirement benefits, and offered the possibility to move to a position I was interested in doing and passionate about.

I was patiently trying to get my dream utility lineman position (I had taken Power and Electronics classes in High School Vocational programs) and in the meantime while working in a Bank’s Research department as an entry-level clerk (before starting at the Bank’s Operations center I was a tar and gravel roofing grunt) I learned new skills that allowed me to qualify for a Service Representative job at the local telephone company so I could get my foot in the door with hopes of a future transfer to lineman. It started what became a 31 year telecommunications career where I retired early as an engineer.

What worked for me.

Being young means there will always be challenges and a lot of closed doors due to a lack of experience but it is important to remember that the path to what you want may not be direct but requires you to always move in the forward direction. My primary objective was to learn and experience as many new skills as I could in any job I had. If there was something that was difficult and everyone else there hated doing it then I jumped in and became the one who mastered it.

It took working a few years before I understood what I was truly good at doing and enjoyed doing. This was important so I could dedicate myself to my work, advance, like what I did, and receive pay increases to further my financial goals. I never stopped trying to upgrade my employment situation and continued my education where I made the move to engineer.

Other Actions of my 20s that really mattered.

* Live a smart frugal balanced life and saved enough for a down payment to buy a house.

I married just before my 19th birthday and we saved everything we could from day 1. This taught us budgeting and spending discipline. We also painted the house (new construction) as part of our down payment. We were home owners a couple of months before my 20th birthday. It was a small starter home out in the sticks. It cost 4.2 times my yearly salary.

* Avoid Debt. Growing up low-income my family was debt adverse and I also carried that trait.

I did not borrow money for new cars, vacations, or anything else. The credit card was strictly for emergencies only. At least that is how it started out. We drove some really crappy cars.

* Save something for Retirement. I was 27 years old by the time I had heard anything about 401K plans.

At the age of 27 I started contributing up to the company’s 401K match amount. This was the start to building a large 401K balance that allowed me the option to retire early. The early 401K contributions benefited by TIME with the compounding gains.

My journey to Financial Independence is nothing spectacular and I was fortunate to have started saving something as early as I did.

My From Age 20 to Financial Independence Life Plan

The life plan and other actions I started in my 20s established the groundwork for my financial life.
  • It started good financial habits. Setting and sticking to a budget, spending discipline, and debt avoidance. Living within your means is a must for reaching financial independence.
  • It started a career where I was able to advance and receive the education to become an engineer. Continually learning new skills allowed me to increase my salary and advance my savings goals.
  • It started an investment early that benefited from compounding gains over time and began a habit of paying myself first. It was the beginning of adding to my net worth other than home equity. (Note: I have linked “Net Worth” to Personal Capitol’s Net Worth tracking tools)
  • It allowed me to have the option to go into a full 10 year early retirement plan when I turned 40. I really appreciated my earlier-self when at age 40 I decided I wanted to get aggressive about retiring at age 50.
  • It was the actions taken while in my 20s that set the groundwork and everything up for me to live debt free and retire early living the retire early and often passion driven lifestyle I live today.

Then and Now.

There are some real challenges today.

Student Loan Debt

Too many have too much Student Loan debt to repay. If I was a young student considering going to school today I would make careful decisions about how much student loans to take on. First off if I wasn’t getting a big scholarship or grant then I would consider State College over Private College where cost increases dramatically. There are also Trade Schools and Community College.

It is real easy to take on excessive student debt and very difficult to pay it all back. Recognize some educations are more expensive than others and may not mean higher pay down the road. For the most part we are a family of Community College and Trade School graduates. We paid as we went including our children’s education.

My engineering classes were paid for by my company. Graduating from college with Student Loan debt means once landing a job it’s time to create a repayment plan to chip away at it early. Anything paid during your 20s will definitely benefit your older-self when having a family and mortgage will make it harder to make large payments.

Good jobs are still hard to find

Even with a fat degree good jobs are difficult to land especially jobs with good pay and benefits. It was hard to find them when I was 20 too. Find the best job possible, increase skills, and never stop moving forward. It took two years from the time I applied before I was hired on at the telephone company.

Patience is necessary but don’t rest until you get what you want. Take advantage of your Network and use LinkedIn to find your next move. Another difference is nobody today plans on working for the same company for 31 years like I did. I will say that it was one of the hardest things I have ever done so I would openly accept the ability to move to different companies as today.

Investing is easier than ever

When I started my 401K there was 2 investment choices, my company’s stock or guaranteed interest money market account. Most 401K accounts offer many investments to select from so you can set up a diversified and low-cost investment portfolio. The internet has made researching and investing easier than ever.

What everyone in their 20s should know today

Whether you decide to plan and set the groundwork for your future-self or not, you will end up doing so anyway. Do you go into your life with some kind of a plan for the better or just leave it to fate and what goes just happens? Whatever you do or don’t do sets the stage for how you will live your future life. After all, your financial independence goals and focus is not complicated at this stage of your life and following a plan guarantees 100% success over doing nothing.

Set goals and track your progress.

Be accountable to yourself by tracking your finances. Set small realistic and measurable goals. Know how much money is coming in and where it is going. Track your debt repayment and savings/investment growth. Your progress also includes personal self-assessments as to your acquired skills and what you do that you enjoy so that as you move forward to advance yourself you can pick the right opportunities doing what is aligned with your interests, skills, and hopefully passions. Life is better lived happy and debt free. Build on your success and learn from mistakes and failures so not to repeat them.

Live Your Life Now and Still Make Your Future Better.

This is a time of living without feeling burden. Part of it is because when we are young in our 20s we can mentally set burden aside thinking there is plenty of time to worry about things later.

I strongly recommend that you keep that youthful thinking but at the same time take the incremental steps to set the groundwork for your near and later future-self by taking advantage of your biggest asset, “TIME” to chip away at any debt you have including student loans and leveraging time to take advantage of any savings opportunities that you may have. The power of compounding interest/gains cannot be ignored.

Are you on course to go From Age 20 to Financial Independence?