Many people, who are clear on their personal financial goals – move towards a three day working week sooner.
With the festive season upon us, how’s your work life balance? Did 2015 see you achieve more family time while earning the income you hoped for?
Here’s our tips to help turn 2016 into the stepping stones to help you live your dream lifestyle.
The first thing to understand is, are your goals [in this case, a three day working week] realistic? Are you aware of changes you may need to make to achieve your goals? This usually involves working more efficiently – not working harder.
Another point to consider is your mindset. How can you be empowered to make the decision and reduce your work level – and, if necessary, consider generating a lower income?
“I can’t do this anymore!” Sound familiar?
A client on a $600,000 salary, made an appointment with us. She opened up about her high income career and said “I can’t sustain this role.” She wanted to take a lesser role which could result in her existing salary reducing by half.
Together we calculated a price on her family’s ideal life. This calculation enabled her to understand if she could reduce her income and still maintain her family’s ideal life in the future. We empowered her and gave the family confidence. We also gave her the green light to reduce the stress of her role and enjoy her life.
People forget why they are working. Yes the first reason is often to have a great life – however, often the pressures of work restrict your enjoyment.
Working 3 days a week – how it can happen to you
The way to a better work-life balance is to ensure you understand the financial effect of dropping two working days and how your decisions can absorb this income reduction. If you are going to lose those two days, how can we build your capital to ensure you can sustainably work fewer days a week?
If you want to alter your work-life balance – what is your plan? Where are you heading with your money and how can you continue to enjoy your lifestyle?
Work-life balance is so important. Everyone should consider reviewing their work-life balance. Remember planning early allows you to achieve your ideal life sooner.
Independent Financial Advisor
Joe Stephan graduated in 2002 with a Bachelor of Business (Fin Plan) under the tutelage of his father (Program Leader of Financial Planning at RMIT University).
You will hear Joe bandy about the idea of “pure financial advice”, which is given objectively and focused around the needs of individual and not the internal needs of the business providing advice.
Joe is realising his vision every day through his Independent Advice Firm which he owns and operates with his brother James. Joe also spends a portion of his time teaching tomorrow’s Financial Planners at various Melbourne Universities including RMIT & LA Trobe.