How I Am Redefining Financial Success
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What is the first thing that you would do if I gave you one million dollars?
It is no secret that most of us would immediately respond with “Quit my job.”
The cookie cutter way that we are told to live out our lives is to start a full-time, corporate career and work that job until we are at least 65 (to cover health insurance) and then retire. The ultimate goal or definition of success is to be able to afford to retire a bit earlier than that time.
There is a community of people striving for FIRE (FIRE = Financial Independence, Retire Early). When you achieve FIRE, there is no need to work for an income because your investments generate sufficient income for you to live on indefinitely. People are taking drastic measures to reach FIRE as soon as possible.
When I first learned of the concept, I thought that made perfect sense. I set goals to land promotions and big pay raises at work and started researching ways to cut our household expenses. But I soon felt caged by this goal – my anxiety was through the roof because I was worried about being perfect at work to earn the raises and I stressed over every dollar we spent.
Then I was introduced to network marketing and the concept of building a fun side-gig. Seeing this entire community of moms building their income by sharing products that they love made me realize that I was not happy sacrificing these amazing years of my life in the name of FIRE.
I am just not willing to commit to that kind of delayed gratification. Dave Ramsey says “Live like no one else, so that you can live like no one else.” I do not disagree with his advice, but I also think that you can do this in more ways than selling your soul for a big paycheck and cutting all spending to the bare minimum.
I have personally ditched the goal of FIRE for now and am focusing instead on creating a life that I don’t want to retire from.
My version of financial success looks a little different these days.
After realizing that I wanted to focus on creating a life that I love now, I cut back on the hours that I work at my day job. I prioritize time with my family and build my business in the spare moments of my days. I am working hard to give myself the freedom to work a schedule that best fits my life, rather than fitting my life around a rigid work schedule.
I want the freedom to do work that is enjoyable, fulfilling, and makes me a better person, rather than making me feel as though I am selling my soul to a corporation or working for a mission that I do not believe in.
I am building the income that allows me to enjoy life with my family, to give my children a great start at life, and to give generously to others in my community.
While my definition of financial success is not completely different from the concept of FIRE, and everything that I want would come with that achievement, the biggest change that I made is my current perspective.
The strategy for creating a life of freedom and abundance that I don’t want to vacation from.
I want to focus on how I can create a life that I love NOW, as opposed to what I can do now in order to achieve financial success LATER. There is a balance between delayed gratification and living life to the fullest in the present.
Rather than focusing on how to stop working as soon as possible, find a job that makes you happy. If you don’t know where to find such a job or even what kind of job would make you happy, I highly recommend reading Job Joy by Kristen Zavo (snag yourself a copy here!). Kristen makes you ask yourself some really great questions and gives advice on how to appreciate your current job more while also locating and landing your dream job.
You can also set yourself up with multiple streams of income to create income stability and work flexibility.
Write out a spending plan to ensure that your money goes towards the things that really matter. Don’t waste your money trying to keep up with the Joneses.
Set up a set-it-and-forget-it system for saving for retirement so that you can focus on the life that you want to create now, knowing that you are also preparing for the long-term.
Always keeping a growth mindset and dream for the future. Your biggest financial goals may feel so far out of reach. It is important to have a clear vision for yourself of what you want and know that you are completely capable of accomplishing your goals.
Create your own goals and strategy to match how you want to spend your time.
What choice will you make? Would you rather retire as soon as possible, say 50 years old, and spend the rest of your life “on vacation” or work a job you love that gives you the flexibility to work when and where you want, doing work that fills your cup, and work the rest of your life?
Likely, you will find something in the middle, but it is just a good jumping off point to think about.
What do you really want for your life?
Create a list of your financial goals. Think about the changes that you can make right now to achieve them.
Are there things that you can sell or ways to reduce your spending to give yourself more financial freedom without increasing your income?
Are there ways that you can utilize your time better to increase your income while also making yourself happier?
I know many women have had negative experiences with network marketing, but the growth in social selling and network marketing as a business strategy has created so many opportunities for busy moms who want to create an additional income source without spending more time away from home. If you are a customer of a company that you love and have a bit of spare time (i.e. your Netflix or SM scrolling time) that you can tell others about your experience with that company, you can earn a supplemental income from doing that work in the small pockets of time throughout your day. There is a reason this has become so popular among women.
You may also have a hobby that you can use to generate supplemental income. What do you love to do in your spare time? Think about the things that are fun, enjoyable and come easily to you that do not come so easily to others.
Think about your schedule, your life, and how you enjoy spending your time. Likely there is something that you can use to generate additional income for your financial goals without feeling like you are “getting another job.” Over time, your side-gig may turn into a career that you love so much, you never want to retire from it!
What are your thoughts?
I want to know what you think after reading this! Do you plan to stick with one career until you reach retirement age and saving as much as possible to bring retirement closer? Or are you working towards earning and come now in a way that allows you more flexibility in your baby raising years? Share in the comments!
And to connect with me and other mommas working to ill their lives with more of what matters, join us in the For More Of What Matters Community on Facebook.
I can’t wait to chat more with you, Friend!
