#EarlyRetirement #retirement #jobs #work #time
Are you planning, or would you like to, retire early?
Most, probably, would say, “of course.”
Others don’t plan to retire, unless forced to.
Still others would insist on a definition of “early.”
Wes Moss, who writes a Money Matters column for The Atlanta Journal-Constitution, and has a same-titled radio show on WSB radio in Atlanta, gives five reasons to retire as soon as possible. He discussed them in his Oct. 10, 2021, column.
Moss’ five reasons: drive time, no love lost for your job, a roller-coaster schedule, a lack of recognition for what you do and being capped out in terms of financial advancement.
Let’s talk about each of these. First, commuting can be a bear. It takes time from your life as a whole, it adds stress to your body and it’s costly, in terms of fuel and wear-and-tear on your vehicle.
Moss also says that grueling commutes can cause stress in a marriage. According to one study, people who drive at least 45 minutes each way to work are 40 percent more likely to get a divorce, Moss writes.
Work-from-home, or remote-working trends inspired by the COVID-19 pandemic may change commuting patterns for the long term. If your employer is flexible in this area, you might decide to work longer. Think of having a beach house, or mountain cabin, from which you could work. Would that interest you?
Perhaps you don’t really love your job, or even like it, as Moss points out. Would working from home change that perception? If you are just grinding out a living at a job that, to be kind, doesn’t inspire you, Moss suggests perhaps finding a new way to parlay your skills by consulting, or starting your own business.
Remote-working options may alleviate another of Moss’ concerns – the roller-coaster schedule. Many people have jobs in which they have to be on site at specific times. Those times could vary from week to week, turning one’s body clock upside down. If you have one of those jobs, chances are you don’t like it. If you can get out sooner, you should.
Being recognized for your good work is also important. Your boss saying nice things about you and your work are fine, but you probably need more tangible rewards. If those are not forthcoming, maybe it’s time to go.
You may also be at the very end of the pay scale for your job category. If so, then ask yourself: am I just marking time for my pension? Or, especially if there is no pension, could I go somewhere else and advance financially? If you are at the top of your pay scale, you may be near retirement age anyway. If you can afford to retire, do it.
There are many things to learn ahead of “early” retirement regarding health insurance expenses and, more importantly, what you will do with your time.
You also have to study the likelihood, even though it’s tough to predict, whether one day you will come to work and be forcibly retired, or otherwise unemployed. Know that if this happens to you, you are not likely to be forewarned.
So, think about your situation, and do what is best for you. At the same time, realize that there are ways to escape bad work situations, if you need to.
In short, if you like your job, stay as long as they will have you. If you don’t like your job, stay open to other options. They are out there.
Peter
Tag Archives: time
MONEY CAN BUY HAPPINESS: REALLY?
#MoneyCanBuyHappiness #time #money
“If you were given $40 on the condition that you had to spend it on something that would make you really happy, what would you do with the money?”
So asks Jenna Gallegos, who discussed time and money in an article in The Washington Post. The article also was published July 30, 2017, in The Atlanta Journal-Constitution.
The answer to the above question would be different for just about everyone. Some would buy a piece of their favorite food or beverage. Some would buy that shiny, new object they’ve had their eyes on. Some wise folk might decide to put it in the bank, postponing their happiness for another few years.
Gallegos quotes a study published in the journal PNAS, saying people who buy time by paying someone to complete a household task are more satisfied with life.
We all have a to-do list that includes tasks that someone else can do better and faster than we. If it’s going to take you several days to, say, paint a room, but a professional painter can come in and knock out that job in a few hours, would that be worth it to you?
OK, some folks love to paint, garden, mow the lawn or do household and auto repairs themselves. For many of us, though, those are drudge tasks, or tasks we cannot accomplish ourselves competently. For some people, the “challenge” of doing something themselves rather than paying someone else to do it allows them to brag about it to friends and family.
Gallegos might ask: are those people in that latter category really happy? Across all surveys, Gallegos writes, life satisfaction was typically higher when people spent money to save their time – regardless of their household income, hours worked (at their regular job) per week, marital status and number of children living at home. (Disclaimer: very few with extremely low incomes were surveyed, Gallegos points out).
The point here is that time is money. Most leadership and motivational experts say you should devote the largest percentage of your (work) time to the things YOU do best. The rest, if possible, should be delegated. There’s a trap here, too. Those same experts might also advise that you not ask anyone who works for you, or with you, to do anything you would not do, talking about those menial, yet necessary tasks to get the job done.
So, for the sake of argument, we won’t focus on those work-related things. We’ll focus on tasks you must do in your time outside of work.
Gallegos cites another study, in which 60 working adults in Vancouver were given $40 on each of two consecutive weekends. They were told to spend that money on a material purchase one weekend, and a time-saving purpose another. The researchers found the time-saving purchases were accompanied by an increased positive effect, and less time stress, Gallegos writes.
Yet in another Vancouver study group of 98 working adults, they were asked how they would spend $40 if it were given to them. Only 2% said they would buy more time, Gallegos writes.
In short, time is indeed money and using your money to buy more time for you to do things you enjoy creates happiness. There are many folks out there who have a combination of not enough money and not enough time to enjoy life. If that description fits you, and you are willing to check out something outstanding that will solve your money/time problems, message me.
Understand that time can’t be replaced. You should be spending the bulk of your time doing things YOU do best, if you can. You should maximize your leisure time doing things that please you the most. It will make you happier.
Money CAN buy happiness, if you use it to purchase time.
Peter
TIME, DISCIPLINE AND RESOLUTIONS
#newyearsresolutions #time #discipline
Why do so many of us abandon our new year’s resolutions?
Rory Vaden, cofounder of Southwestern Consulting and a self-discipline strategist and speaker, says it may not just be a lack of self-discipline. It may be a lack of time.
Vaden discussed the topic in a Jan. 11, 2015, column in The Tennessean newspaper in Nashville.
It’s easier to get to the gym when your house is clean and your bills are in order, he says. It’s easier to eat healthy when you don’t feel so rushed you have to cram some fast food down in 20 minutes, Vaden points out.
So let’s tackle time, or lack of it, that most say is their biggest problem in life.
Time is choice. Sure, most of us MUST go to work. Those who have children MUST tend to their needs etc. Oh, and we MUST sleep – or at least most of us do.
But there are many other hours in which we do things that are not MUSTS. There may even be some hours we do things we believe are musts, but may not be.
Some of us take time doing things, then ask ourselves, why did I waste my time doing that?
Some of us decide that we can’t do something that may be good for us, because we don’t have time. Others make time to do something good for themselves.
Vaden believes that if you want to achieve your goals in 2015, you have to intentionally decide what you won’t do that has taken up your time.
In short, resolutions require a time commitment. You have to determine whether what you spend your time on is worth your time, or could your time be spent doing something better for you.
Let’s take the food example. If you are wolfing down fast food at lunch because your boss gives you no time for lunch, try bringing healthy food to work with you. You’ll eat better and save money. If cleaning your house takes up too much of your time, there’s the option of hiring someone to do it. Chances are, that person can clean your house much more quickly than you, because he or she cleans houses for a living and has the process down to a science.
How can you hire a housekeeper when you are barely getting by yourself? There are many ways to pick up extra income, often without interfering with what you are doing now. For one of the best, visit www.bign.com/pbilodeau. You might not only find a way to pay your housekeeper, but also you will be using your time more productively.
Often, those who use their time most wisely have cultivated the ability to say, NO! Sometimes we are backed into a corner and say yes when we want to say no. Perhaps the person whose feelings you don’t want to hurt would rather hear no, than a reluctant yes.
Vaden also talks about procrastination vs. patience. Sometimes, waiting for a better time to do something can be a virtue. Putting off things you should do kills success, he says.
So, if you haven’t already, make those resolutions: Live healthier. Know what to do to prosper, and do what you must to make it happen. If you are unsure about the latter, be open to looking for the answer, and recognize it when you see it. Your patience could pay off.
Peter
MONEY, TIME AND VALUE
Time is money.
But have you ever tried putting a value on your time?
Better yet, are you deliberate in how you spend your time?
Rory Vaden, a self-discipline consultant and co-founder of Southwestern Consulting, says very successful people are usually very intentional about how they spend their time.
Successful people understand the “money value of time,” as Vaden put it in an April 2013 column in The Tennessean newspaper of Nashville.
Average people waste a lot of time, and may not even know it.
They look for stuff. They sit in front of the television, not even caring what’s on.
Sometimes we waste time and hate it, such as standing in line, getting stuck in traffic etc. We hate it, yet we rationalize that we “have to do it” to get to something we want. — like show tickets, or getting home from work.
Vaden talks about how people are paid for time in the workplace. One hour of work equals your hourly wage. Everyone can calculate how much he or she gets paid for each hour worked. Yes, even “salaried” folks can figure out what they make per hour.
What’s more difficult for many is figuring out how best to spend each hour of the day. What return will a person get for time spent?
For many, if they analyze time spent, the return on investment may be pretty puny.
You may think television gives you pleasure, but if you spent some of your TV time doing something more productive or worthwhile, you can increase your return on your time investment.
What if you could work full time at your job, and part-time on your fortune? Would you be willing to give up some, say, TV time for a shot at firing your boss? Would you be willing to spend your time away from work on something that will help you grow as a person? If so, check out www.bign.com/pbilodeau. This may enlighten you on a better investment of your time.
Time should not all be about work. Time with family, friends or helping others brings tremendous return on investment. But try taking a week, divide it by hours, and see how you fill those hours. Then, figure the ROI for each hour. You might be surprised at the results. They just might make you a little more deliberate about how you spend each hour.
Rethinking how you spend your time may make you the success you want to be.
Peter