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:
- Do you get more excited about your work than about family or anything else?
- Are there times when you can charge through your work and other times when you can’t?
- Do you take work with you to bed? On weekends? On vacation?
- Is work the activity you like to do best and talk about most?
- Do you work more than 40 hours a week?
- Do you turn your hobbies into money-making ventures?
- Do you take complete responsibility for the outcome of your work efforts?
- Have your family or friends given up expecting you on time?
- Do you take on extra work because you are concerned that it won’t otherwise get done?
- Do you underestimate how long a project will take and then rush to complete it?
- Do you believe that it is okay to work long hours if you love what you are doing?
- Do you get impatient with people who have other priorities besides work?
- Are you afraid that if you don’t work hard you will lose your job or be a failure?
- Is the future a constant worry for you even when things are going very well?
- Do you do things energetically and competitively, including play?
- Do you get irritated when people ask you to stop doing your work in order to do something else?
- Have your long hours hurt your family or other relationships?
- Do you think about your work while driving, falling asleep, or when others are talking?
- Do you work or read during meals?
- 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?
I can relate to this. I can turn the switch off but I certainly feel the urge to do more — even in retirement.
Thanks for the comment Steve. I know, its just something inside that needs to be controlled if we can. I am always aware so I can tame the urges. Retirement isn’t going to automatically do that for us.
Tommy