My la la land

Jes 18 Comments

It's the start of the year yet I have reached my mid life crisis. Or rather, a mid career crisis although I have only been working for 7.5 years. Yep, don't laugh.
From Nick Hubbard


I am very clear of my end goal, which is to be financially free. To get to the goal, I will need my own business and get out of the rat race. I can keep on climbing the corporate ladder but my personal time with family will be sacrificed.

I am unsure of my next move.

Should I continue my travelling job? The once-a-month travels is fine but sometimes, it becomes twice a month and I become so exhausted. I lose sight of my priority which is my family.  I do not think that working so hard is worthwhile because the corporate giant can get rid of me as and when she likes. If I move on to other jobs or get promoted, there might be even more travelling so as to handle a bigger region. I am not sure if this is what I want.

Just finished watching La la land and it does not help at all. Catchy music and refreshing story line aside, (spoiler alert) it showed how one has to choose between one's dreams and love. It is quite a realistic movie and painfully close to heart. For me, it's more like career or family. Time should be used appropriately but how much is too much? Only I can answer that, I know.

Ideally, I would like to have a business of my own which I will only need to tend to a few hours each week. I can go on to do other things like spending time with my family, cooking and thinking of how to earn more money. I think that is everyone's goal but how do I get there? Should I start my own business? Cut down on travelling?

Surprising, not many financial bloggers own their own business. If you are financially free, how did you get there and what decisions did you have to make at 30 years old? If you are not, what are you doing to work towards your end goal?

Jes

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18 comments:

  1. Replies
    1. Hi Jared,

      You know I am.. not good huh? :S

      Delete
  2. I'm sure this is something my wife and I will face when we decide to have children. It's less difficult when it is just the two of us since we spend most of our time at work and with each other, families and friends outside of work.

    Even then, there's minimal travelling involved in our corporate jobs, which I can imagine to be more of a challenge when you have a kid. There's financial bloggers that are self-employed - My15HWW, Bully The Bear, BfGfMoneyBlog etc. Maybe you can approach them as a start?

    ReplyDelete
    Replies
    1. Hi FS,

      Yeah I know 2 of them are doing tuition so not exactly starting their own business. I guess it's a question every time we enter a different phase of life. Having kids change your priorities but they are all good decisions to make!

      Delete
  3. I've read recently that the key to success is grit: passion + perseverance.

    If you are thinking about starting a business, it would be best to consider if you have a passion for it and if you can keep doing it. Personally, I don't really know any business that can allow one to just work a few hours a week (except investment).

    ReplyDelete
    Replies
    1. Hi Simple Investor,

      I don't know any business that can allow that too actually. It's just a goal but realistically, I understand it's going to take hard work.

      Everyone also want to work less right? Hehe.

      Delete
  4. Own business takes hard work and may even take more of your time to be viable. At least travelling wise may change.

    ReplyDelete
    Replies
    1. Hi Cory,

      Yeah that's true. Own business maybe will need to work longer and unable to take leave. It's not going to be easy but I wonder if it's worth embarking on this journey. Thanks for dropping by!

      Delete
  5. Can consider building up a cash fund for investment for passive income or trading for active income

    ReplyDelete
    Replies
    1. Hi Jaded,

      Yeah I am investing for passive income but I think having several source of income should be good. Well, until I see all the defeatist comments here :)

      Delete
  6. I think you are looking to be a taitai. marry a rich husband. if your husband isnt rich, you can wake up from your dream now.

    ReplyDelete
    Replies
    1. Hi there,

      One can have a dream. But I did not want to find a rich husband because I want to be rich on my own and through my own ways. It's not that I do not want to work, just maybe finding a less traveling job. Thanks for the reality call :)

      Delete
  7. I guess most financial bloggers prefer a sure and steady way of reaching financial freedom and wouldn't take high risk with their money by going into business. Even if they go into business, it is likely to be something conservative where the loss from failure will be low.

    ReplyDelete
    Replies
    1. Hi there,

      Oh I think you are right, it makes sense. I always thought no pain, no gain particularly in business. Losses are also investments, where there should be a lower limit. If we are afraid of failing, isn't it worse than not trying? Appreciate your local thought:)

      Delete
  8. Running your own business is no joke especially before you can hired people to run it for you.

    Chinese saying,

    "To start a business is difficult, to sustain it is even much more difficult".

    That's why i choose to be a little bit of a sleeping partners in many businesses.

    I once had met a small business man in a tour when i was young, he told me to run your own business you had to put on your thinking cap almost all the time.

    It's on the BOLA 24/7.

    It's never 9 to 5 thing.

    Yet there are successful business woman with a successful family, i think.

    But i think it's very rare in real life.

    Perhaps you can be when your children are a little bit older and more independent of you.


    ReplyDelete
    Replies
    1. Hi temperament,

      It's good that you are a sleeping partner, earning money without putting in effort. I understand that more effort and hard work is required for your own business but I was thinking if I would be happier doing my own work rather than slaving for others.

      If it is just hard work, I am not afraid. I am more afraid if I slogged for another 20 years to feel regret and kept thinking What Ifs instead of just doing it. I guess I really need your tips and what not to do in starting a business!

      Delete
  9. No tip from me lah.

    i am saying i am a POP & MOM invester only.

    ReplyDelete
    Replies
    1. Haha, you are too modest! Your comments here are very useful and very much appreciated :)

      Delete