During my years in corporate and entrepreneur world I encountered many kinds of “life strategies”. These three stood out.
i) live now
I don’t really care about what I do and how much it pays as long as it gives me enough money to pay the bills and have time for my hobbies (my real passion in life). Mostly people with little ambition and drive towards career advancement.
Eg. I somehow survive in the office during the day, what is important for me is to get out there at 4pm with clear head and have free weekends so I can go fishing, surfing, taking pictures (fill in for yourself).
Many times in this case you combine both work and hobby eg. I work in bicycle shop and love biking.
– lot of time for your hobbies – financial struggles later in life
– not much stress – life wasted surviving time working
ii) money now life later
I will do everything and anything to make big money now regardless if I like it or not. Then by 30, 40, 50 (fill in your number) I retire and do what I really like.
Eg. I work in investment banking which is not fulfilling me and I don’t spend time with my family, but when I make enough I will buy a yacht and sail around the world with my family. We will all have quality time together not worrying about money.
– clear goals and direction – may not make it to fun part
– half of life spend on your passion – life wasted in work you don’t like
iii) life and money now Doing what you love and making money while doing it. Later on still working even if you don’t have to.
Similar to point II, but you do what you love. Financial reward in point II is more secure, but if it doesn’t work out, you are at least doing what you love – not wasting your life plus increasing likelihood of success.
Eg. I love fishing, so I’ll set up fishing company going out to fish with my clients. When commercially successful I will not stop working as this is actually what I want to do all the time. It just gives me more security and less stress.
– clear goals and direction – may not make it financially
– life spend on your passion – stress, risk
What is your life strategy? Choose wisely.