Your Work

(From my Facebook archives, 2011) 

In the spirit of Labor Day, let's talk about work and money. First of all, is work, well, work for you? Do you enjoy what you do? Would you still perform your job if you didn't get paid for it? What's the worst part of your job? Boss/management? High stress? Annoying coworkers? Labor intensiveness? Do you make efforts to improve your chances of work advancement/better pay? If you could work your dream job, what would it be? Is there a realistic possibility of landing that dream job? What's stopping you from finding a job that isn't "work" for you? Why go through life working a job you can't stand. You're telling me you can't find a job you actually like AND make at least the same money you are making now. I suspect if you find a job you enjoy, you would excel so much more at the position that management would notice your performance and reward you with advancement and increased earnings. I know change is uncomfortable, but so is a job that you dislike. At least think about it. Also, I wanted to comment on making sure that every dollar you work for, counts. Many financial experts suggest you look at your total lifetime earning potential and determining what all that money over the years can afford you. Let's use an example of a current 40 year old with an average net income(after taxes) of 40K for the next 27 years, or until they are age 67. That is 40K x 27 years = 1.08 Million. What can that person do to make the most out of that 1.08 million? They obviously can't save it all since there are costs of living. The individual could very easily spend it all, with only material things to show for it all. A wise person saves/invests that money for a time of emergency, retirement or loss of income. Make sure you have a good balance of savings and investments to ensure your money works for you and your future. Find a friend, family member or financial advisor who is good with finances to give you perspectives on saving/investing. It doesn't mean you have to do what they do, it is just good to hear as many diverse perspectives from successful people before deciding what you should do for yourself. However, don't judge someone's financial success by their belongings...that person may just be a good borrower(and is in a lot of debt) and not a good saver/investor. Find people that don't have any financial gain in what they are educating you about. Look for educational websites like Bankrate.com, Kiplinger.com, Motleyfool.com, etc. Read books on money and finances. Then read more books on money and finances. Calculate what you might need for income at retirement. Think of when you would like to retire. Estimate how much you need to save/invest per year to retire when and how you want. Be responsible for your own money. No one will respect your money better than you will. Don't be too risky with your investments unless you are willing to lose it all on that investment. If you use a financial advisor you should still understand all the details that go into the decisions about your investment choices. Make sure that every dollar you earn makes the most for you, whether that be in your purchases, investments, donations, savings, etc. Spend, save, give and invest wisely. Why work so hard for your money only to spend it on something you are not going to use or get any good out of. Which is better, a 15 dollar shirt you wear 4 times or a 50 shirt you wear 112 times? 45 dollars at a restaurant for one meal or 75 dollars at the grocery store for 4 days of meals? 4.25 for Starbucks each day, 3 days/week or 145 dollars for espresso maker in your house to make your coffee at home? All of us have our share of things we wasted our hard earned money for. I am probably more guilty of that than most of you, thankfully that is more past than present. If each of us changed our lifestyle decisions just a small bit, preferably a large bit.....we could save hundreds or thousands of dollars per year, resulting in hundreds of thousands of dollars difference at retirement. So, next time I/you go to purchase something, make sure the money I am/you are spending on that item is really and truly worth the expense. Don't deprive yourself....just buy less "wants" and focus more on "needs". Save money for emergencies, too. And build yourself a nice nest egg so you can enjoy your retirement and don't have to work until the day you die. Reap the fruits of your hard labor....don't squander everything away. Don't let the stress of work and money consume your life....leave your work at work and keep your money in your wallet.......I'm the first to admit I am no financial guru....I just have lost and spent enough money through the years to now know what NOT to do. But at least I learned now and not later....I at least have some time to redirect my path to get to my destination. Will you do anything today to make your financial future better? The sooner you start the better, the later you start the faster you need to get started. 

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