Author Topic: Where I can make the most money vs. preparing for "retirement" career  (Read 3281 times)

SpendyMcSpend

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I am a little bit at odds with myself on my career that will help me get quickly to financial independence versus developing skills that I would like/love to do when I am actually retired.  I only have a limited time of the day to learn and develop and obviously my career should currently take priority so I can maximize my income for the next 5-10 years.  However, when I am in my 40s and actually financially independent (confidence!) I won't know what I need to know to say, be a landscape artist or musician.  I want to start spending 1-2 hours a day learning a skill that might not make a lot of money but will be enjoyable and then something I can do full-time or part-time when I'm done with my main career. 

Does anyone else struggle with this balance?  My current career is very corporate and while I'm not disengaged, and I don't mind day to day it's definitely not a passion of mine and I am interested in starting to develop some passions that I will be great at in 10-15 years.

OR

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Re: Where I can make the most money vs. preparing for "retirement" career
« Reply #1 on: January 07, 2015, 09:27:04 AM »
I also struggle with this balance.  My job/business is better than most, but not perfect.  I'm always searching, probing, exploring for something better.  I have my ideas, but it is tough. 

My balance is taking the road you are taking (more or less).  I just signed up for a 3 hour a week volunteer gig in the area I'm interested in.  Try to keep the current career in check in the mean time. 

However, the new program would end up with me starting my own business again and I am kind of an all or nothing believer when it comes to starting a new business.  So, I'll likely wait until I'm further down the FI road before making the jump.  I think I do differ from a lot of people on the forum in that I will likely make the jump before full/safe FI.  I'm comfortable meeting our low expenses on new business revenue and letting the stash grow on it's own if need be.  After all, a "retirement" gig is for fun and not about the money.   

SpendyMcSpend

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Re: Where I can make the most money vs. preparing for "retirement" career
« Reply #2 on: January 07, 2015, 09:48:25 AM »
It seems like what people in general do is do the passion first and throw economic concerns to the side.  For example, the writer/barista.  I'm the opposite, where I want to get comfortable financially FIRST, it is just going to take awhile :/

OR

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Re: Where I can make the most money vs. preparing for "retirement" career
« Reply #3 on: January 07, 2015, 11:18:35 AM »
True.  Most take the passion road first.  It was what our generation was taught.  "Do what you want and the rest will work out."  That was the career advice from parents, teachers, etc.  At least in my working class community.  You can still do something great in your area of passion if you start at 40.  You'll just do it more comfortably and do it right.  All my "writer/muscian/movie maker/photographer/barista" friends have credit card debt, still have student loans (that they are resigned to have for the next 20-25 years) and those facts compromise their efforts towards their chosen crafts.  Kind of a bummer, but I hope they make it. 

Gone Fishing

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Re: Where I can make the most money vs. preparing for "retirement" career
« Reply #4 on: January 07, 2015, 01:21:40 PM »
It seems like what people in general do is do the passion first and throw economic concerns to the side. 

+1

I think most of that advice came from people who followed the $, got trapped in the consumption, then could never get free to pursue their passions.  I've always thought that was bad advice considering the number of people that are willing to do the fun stuff for free.  My thoughts have always been to get a job that you are reasonably good at, is tolerable, spend some time on your passion on the side, and figure out a way to make the leap.


deborah

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Re: Where I can make the most money vs. preparing for "retirement" career
« Reply #5 on: January 07, 2015, 04:31:29 PM »
Yes it is much better to earn less $ than to hate your work. Mustashanism works just as well for a slightly lower paid job, and you will be so much more relaxed and able to do things after work if you have work you like.