Once you hit a certain level of financial security, a lot of problems disappear. The days of scraping by are in the rear-view mirror and you will have more time to consider things that you never have before.
Unfortunately, just as everything becomes a bit easier, you will also find new problems that you never had time for before. Don’t be afraid! This is all very normal! And these problems are much easier to deal with than trying to figure out how to keep the lights on.
Now you will have higher-level issues to deal with. You now need to be on a quest to manage your money better, set your own hours, find a better work/life balance, travel more, and follow your passions. This all sounds quite daunting, but you really can do it all! By heeding the following advice, you can soon be able to stop worrying so much and starting to live your best life ever.
Keep Your Priorities Straight
The first thing to understand is this: Most people who reach some level of financial stability don’t value it enough. They have worked tirelessly for years, and maybe even decades, to get to this point, and they now think they deserve some rewards. You do! Treat yourself! But don’t go overboard, and try to make your gift to yourself a one-time vacation or splurge purchase that won’t weigh you down with new bills for years to come.
Because the biggest problem with finding stability is that it is all relative. If you continue ramping up your lifestyle — with the “lifestyle creep” of a new mortgage, new car payments, and other certain monthly expenses — stability quickly evaporates. You will need more and more income to support the weight of all these lifestyle improvements and, in no time, you will feel on the same shaky ground as you did when you were making half as much.
Instead, recognize what you do and do not need. This doesn’t necessarily mean giving up small luxuries like your daily latte. But you must realize that financial security is worth more than an upgrade in house or a new car you don’t really need. Keep your eyes on the prize, travel to places you want (with a budget), and use this feeling of calm to pursue your larger passions. Don’t throw away this blessed moment of freedom just to keep up with the Joneses or impress other people.
Ask for Flexibility
There is a whole community of people who now travel the world while working. Some of these “digital nomads” are software programmers. Others do photography or editorial work. And some are bloggers, Instragram influencers, or YouTubers.
But there is another group: People who once worked from home. Remote working is much more common in all career fields now, and many people now do their HR, marketing, or PR job from a digital office. Obviously, if you are a mechanic this would be hard. But if you are able, and especially if you already work remotely on occasion, why not ask your current job to work from home full time? If they value you as a member of the team, they may be more receptive than you think.
This detachment from the the daily commute and a particular desk will be incredibly freeing. No, you don’t need to use it to travel the world constantly like an actual nomad. But you could if you want, and more than anything it will help you re-think your possibilities. You will be able to consider so many new opportunities and find time to go places and do things that you previously never thought possible.
Create New Income Streams
Beyond the physical freedom of getting away from a full-time job, one great way to revamp your money flow is by diversifying your revenue streams. Having a $150,000 per year job is great, and that may be what gave you stability in the first place. But you could find yourself in trouble if that work disappears out of the blue. It can take months — or even years — to find something similar and your bills won’t stop just because your paychecks did.
This is why it is so helpful — both financially and psychologically — to have multiple sources of income. Some buy rental property. Others start a small business. And some partner with established business such as Amway. This is a quick way to start making real-world sales — but it is not a get-rich-quick scam. Amway isn’t a scam, but you should definitely be wary of any potential pyramid schemes. Do your homework and run everything against trusted resources like the Better Business Bureau.
But by entering a trusted new sales network like Amway to add to your income, you will find that your reliance on your primary employer starts to wane. Your will be able to rely less on any employer and more on yourself to determine your own future.
Financial security is a wonderful thing. Getting there is a dream for most people and something that you must truly value if you ever find it. At the same time, you should never stop working to make your life even better.
Get your priorities straight so you don’t throw away this stability. Look for more flexibility from your employer. And work your tail off to create some new income streams that give you even more freedom.
If you can do even one of these things right, you will be way ahead of almost everyone else. And you will be that much closer to truly living your best life every day.