I am reading The Four-Hour Workweek by Timothy Ferriss.
He talks about managing your time so you are never really “working,”
taking “mini” retirements instead of the end goal retirement, and various other
strategies to achieve the “New Rich.”… interesting ideas….I’m early in
the book but I like the way he thinks.
Act now, ask for forgiveness later. Action. There is an exercise of working through “what’s the worst that could
happen” scenarios. I am not unhappy at
my job nor do I intend to leave and go on my own or start some crazy new
venture or anything like that…now. This
is about making sure I do not become a 9-5er who is only going through the
motions and miserable. I’m happy now
because I have been blessed with a boss who evidently believes that giving one
space to grow is, in fact, what is required to grow and does not chain me to
the desk, etc. etc….that or he just doesn’t care. Either way, I am just trying to stay ahead of
the middle life misery curve. So, the
first part is to define your nightmare, the absolute worse thing that could
happen if one did “what they are considering.”
For now, let’s just assume I am going to leave “law” and do something
else… I don’t know what…we are working on the liquor business but it could be anything. I actually do like practicing law, so this is not a career escape. Maybe just making sure I am compensated fairly...
My big thing is retirement.
I am always worried about saving for “the future” and not wanting to end
up lifeless in some terrible “home” or impoverished after working my whole
life. So, not being able to set aside
money is a big fear. In fact, my husband
might say I save too much and don’t use the money to enjoy life sometimes. I don’t agree – we have a very full life of
travel, nice things, nice car, nice apartment, etc. there is not really
anything that I really, really want and can’t have if I really wanted to just
go get it. But anyway you can see the
issue. Would this be the “End of my
life?” as the author suggests. No. What would be permanent impact? Who knows?
Who knows if I would ever get back to being able to “save” as much as I
would like? Is it really permanent? Probably
not. I always think, I could always wait
tables. If the world ended and I lost my
career, I could always wait tables or bartend.
In fact, I did do that when we first moved and I did not have a solid
job.
What could I do to repair the damage? Waitress!
That could get me back on track.
I would probably have some qualms/pride issues about this, but not
really… in that situation, I think I could adjust. OR, of course, I could always go back to
law.
Next, what are the outcomes or benefits of more probable
scenarios… i.e. succeeding at the new venture?
More free time, more money, more flexibility, more stimulation… how
likely is it that you could produce at least a moderately good outcome? Decent I guess. We are both post-grad educated and I’d like
to think have more business savvy and knowledge than many people that start
businesses. So, why can’t it be us?
If I was fired from my job today, what would I do to get
things under financial control? First, I
would probably not look for a new job. I
would probably just do my own thing again, and amp up my freelance legal
practice to supplement client matters, and maybe take that first time. Wait tables at night if desperate for
cash. I am not afraid of being fired as
I once was because I have been there (laid off) and it was scary as hell but
the best thing that ever happened to me and really showed me what I was made
of. I wish I had not been so scared back
then even, but given our soon-to-be-move I could not pour myself in maybe as
much as I would have liked. So, the fear
of being jobless is not a huge thing for me… ok, that’s not true, it’s crazy
scary, but just not as scary as it used to be I guess.
What am I putting off out of fear? This is hard!
I don’t really know. A year ago I
would have said having a baby, but now that is just being put off because of
circumstances…which is ok if that’s because I need time to get other stuff
sorted out, but….Probably asking for a raise is a big one. Asking for more responsibility/power to make
decisions. I need to just do it. I have been here two years and am profitable
and work hard and I deserve it. But it’s
scary. Shouldn’t be. “A person’s success in life can usually be
measured by the number of uncomfortable conversations he or she is willing to
have.” I like that. No one likes those conversations but they get
results. Resolve to do one thing every
day that you fear. Another great
quote.
What is it costing to postpone action ? I don’t necessarily feel like I am postponing
anything, but say for example freelance work…. Or getting firm to make me a contractor…
do I even want that? Emotionally it
costs the attachment, the crutch, the salary and check that comes every two
months. Which I’m ok with because I have
been on the other end, but I don’t want to get stuck in that if the promises
that have been made to me are not fulfilled.
The cost of inaction. Financially
it costs me….well…. financially. Would
likely take a huge hit in the beginning, but would ultimately probably come out
ahead. I do think I need more time to
learn “the craft” and various areas of law that would allow me to obtain larger
and higher-paying clients. That answers
the “what am I waiting for” question….experience…which I think is valid… but
each day of this practice that goes on I realize that it is just that…a
practice…and no one really knows what they are doing. I don’t want to stay right here forever… I know
that… but again, I am extremely grateful that I am in a position that is
allowing me to develop on the side what could hopefully support me if it got to
a point of, ok, I gotta go. Physically…
I don’t think it is costing me anything.
I have time to exercise, eat right.
That’s ok.
Action is the most important step.
I have my action plan for the year… more clients, more
connections, more growth, more learning, and more practice. And financially, making enough to support my
salary and maybe pay some rent.
