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Your Simple Financial Plan, Part 3- Income Is Everything

November 20, 2013

I don’t really agree, but I probably got your attention!   I do like to believe that when you find a job you enjoy and are good at, the income will follow.success-really-looks-like

Whether you realize it or not, your most important asset is YOU and your ability to earn income.  Without an ongoing source of income, it’s pretty tough for you and your family to enjoy life.  Your income, and eventually your wealth, is the foundation for your financial plan for many years to come.

But, will just any income do or is there more to it?

When I was much younger and working in the corporate world, I learned how important it was to like my job.  Ideally, you want to LOVE your job, but liking it is a minimum requirement.  Close to 60% of my waking hours were spent at work. Sometimes, I felt I knew my “work spouse” better than my real spouse!  Over time, I grew dissatisfied with my career.  It was not a reflection on the company I worked for, but rather my own needs and desires were changing.  I no longer felt enjoyment or fulfillment from what I was doing.  After I left my career behind, I tried a few things to earn money.  But they didn’t inspire me.   I knew I needed two things from my work- income to live and the feeling of making a difference.

Make sure you give you and your career the investment they need. The career path that’s right for you needs planning, attention and effort.  Transferable skills, flexibility and the ability to adapt to change are the things people need for success today.  Be honest with yourself and address the gaps.  Lifelong learning has become the new rule, not the exception.  This applies to almost any career today from skilled trades to white collar professions.

Here are some key questions to ask yourself;

1)  Is my career on track with my expectations?

2)  Will it provide me with the sustainable, lifetime earnings that I’m looking for?  If not, what’s my back-up plan?

3)  What changes must I make to get where I want to be?

It’s  never too late to embark on a new career if you want it badly enough and will give it your all.

Still unsure about the career that’s right for you?  Find a mentor(s)- so many people are willing to help!  Talk to those who have jobs in your areas of interest.  Find out what they like, dislike and what it takes to be successful.   Or, check out a few of these resources to start your thinking:

What Colour Is Your Parachute, by Richard Bolles – updated and timeless career advice

–  Myers Briggs– well respected personality/career profiling

–  Insidejobs website- good for career ideas & inspiration

–  Great presentation from Linkedin Founder Reid Hoffman- Amazing Career Advice For College Grads

Get working on your career- the sooner, the better.  You might discover that the income will follow!

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One Comment
  1. Great content. Number three is very important. So many folks want new opportunities, careers, and promotions. But, many are unsure or unwilling to make the necessary changes to reach the target.

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