1414: The Importance of Job Satisfaction in Pursuit of Early Retirement by Craig Stephens of Retire Before Dad
This is optimal finance daily episode. Fourteen fourteen the importance of job satisfaction in the pursuit of early retirement by craig stevens of before dad dot com. Thanks for tuning in today. And every day. I'm your host in personal finance enthusiast. Diana mariam this is the show where i neri post from. Thought leaders personal finance every single day of the year in ten minutes or less. Are you loving optimal finance daily. Why not sure it with a friend today. Invite them to join the party by sending them a link to l. podcast dot com. And while they're there they can check out our five other shows on topics like personal development health and relationships but for now. Let's get to today's post as we optimize your life. The importance of job satisfaction in the pursuit of early retirement by craig stevens of retire before dad dot com. Some people are driven to the idea of early retirement because they lack job satisfaction in their career working into their sixties. Isn't sustainable unhappiness. At work comes in many forms it could be a negative co worker. That makes you dread going to the office or the job. He's a low salary with few opportunities to earn more. Long commutes sackville out of us to financial insecurities at home can also contribute to unhappiness at work suffocating. Student loans are an unreasonable car. Payment can make you feel trapped because you need money to pay the bills. Maybe you support a family and leaving a job when there are few opportunities in your town isn't an option. I set my goal to retire completely by eight fifty five back. When i was broke unemployed in living with my parents there was no job to hate. Motivating meter retire early. My motivation was a positive one to work towards the goal of extended. Travel in retirement inspired. By the freedom. I experienced while backpacking the world but after many years of working for the same company. My motivation changed. I wasn't happy with my career or employer. I wanted to retire early. Because i didn't like my job. Because i was pursuing the goal of freedom and travel that was an unhealthy state of mind today a much happier with my career. End employer and more grateful after experiencing a period of unemployment being happy and enjoying the challenging work makes me excited to go to the office and earn a paycheck. I'm now working towards my ideal retirement again. Instead of trying to escape my career having gone through this cycle has taught me the importance of job satisfaction in pursuit of early retirement. What is job satisfaction. The best definition of job satisfaction found is the simplest the extent to which people like satisfaction or dislike dissatisfaction. Their jobs some people truly love what they do for a living. I'm convinced that as a small percentage of the working population most people find a career. That best suits their skills and pays an acceptable amount for their time. Work is but an exchange of time for money for many of us. Job satisfaction takes it to the next level. Does the work provide reward. Besides the paycheck is the work meaningful. Is the work appreciated by others. Parts of my old job were rewarding. But i was still unhappy in hindsight. I realized that my job satisfaction decrease due to two primary factors negative people and monotony like toxic person. You encounter anywhere. It's best to avoid them but that wasn't always possible with my situation. The other negative factor was the repetitive nature of my position. For eight years. I stayed in the same role with little exposure to new challenges. I was comfortable in content because the work was familiar in the pay was good. But there was quiet angst attracting for my wellbeing. Not until i left that position that i mentally turn a corner. Part of that. Unhappiness at work led to starting this blog because my job was not personally rewarding. The blog became a creative space for me to experiment with a topic. That was more interesting to me than it consulting. You've got a job but you wanna career. Those were the words of jingle. I remember from watching. Tv growing up. It was for a local technical institute that promise perspective students the chance to leave their job for a rewarding currier. I've had many jobs over the years. Lifeguard merrill lynch in turn used record store sales person paper boy shoe salesman. Beach umbrella attended. Busboy proxy voting cold caller horrible blogger. But only one career information technology or it consultant. When i interviewed for my first it job at age twenty three. I didn't know what. it was. All i had was a finance degree and a disheartening internship experience. That first job became the foundation for a lifelong. It career even though i was solely focused on saving money to travel in my twenty s college degrees and first jobs often dictate a life's work but we make those choices at such a young age. When we don't understand the adult workplace jobs coming go switching careers is a big deal. They don't teach you that when you're choosing a major more than a decade ago i considered leaving my. It career to become a financial planner. Personal finance was my passion. And we're supposed to follow our passion right. I began pursuing the cfp certification. Around that time. I received a big raise for my job and i use it to justify buying a condo. The raise confirmed the potential of my it career but the condo purchase cripples my cash flow and stifled my lifestyle flexibility. My monthly housing costs went from seven hundred and fifty dollars to two thousand three hundred dollars. I accident louis. Enslaved myself the mistake of buying a home. When i couldn't afford it pressured me to abandon my aspirations of being a financial planner that was bad for morale at work job satisfaction and early retirement during the years of being unhappy at work. Mrs retire before. Dad would remind me that it was unhealthy to look for a new job. Just because i didn't like the current one. Don't leave your job because you don't like it leave because you're excited about what's next. A similar saying is true for retirement. Don't retire from something retired to something retire because you may have another forty years to live retire because you can spend more time doing the things. You love retire because slow. Travel is ten times better than week long. Vacations don't retire because you hate your job or career unless you're within a year or two of your financial independence or retirement goal. Being unhappy at work is detrimental to your wellbeing. Hating your job won't adventure. Ultimate objective of saving and investing more money. Hate me the impetus to pursue early retirement. But it's wrong vessel to get you there instead. Find ways to be happier at work. Relinquish your bad attitude. Create new opportunities for yourself gained a new skill. Become better at what you do. Build new relationships to help avoid the toxic ones. These actions will lead to more money. In the meantime why not start a side business to empower the future. You empowering herself with additional income outside of a job can help improve your normal work life because it provides relief from one hundred percent reliance on your job and it could lead to something if all else fails. You can always pursue other employment opportunities when you do don't have set when the right opportunity comes your way prepares if your career depends on it. Change within a career is good. The pursuit of better job satisfaction aligned with pursuit of early retirement. Job satisfaction leads to more daily fulfillment a positive work ethic happiness and ultimately more money to fund your early retirement aspirations. Ideally you want to build a career. You enjoy so much that you don't wanna leave that way when you reach the point where you can retire. You have to good options. You listen to the post titled the importance of job satisfaction in the pursuit of early retirement by craig stevens of retire before dad dot com. Thanks to anger for hosting this. Podcast anchors the easiest way to make a podcast distributor. Podcast for you. So can be heard everywhere. Spotify apple podcasts. Google podcasts and many more you can easily make money from your podcast to with no minimum listenership anchor gives you everything you need in one place for free which you can use right from your phone or computer creation tools. Allow you to record and edit your podcast so it sounds great. Download the anchor ab or go to anchor dot. Fm to get started. I could not agree. More with craig on the importance of job satisfaction on the pass to fi- one of the things i've realized in recent years is that the quality of my life is highly dependent on the people i surround myself with and when it comes to the people we work with. We spend more time with them than we do with our friends and family. I think it's incredibly important to feel that. The people i work with added value to my life both personally and and vice versa. I saw a quote the other day. That said if you look at the people in your circle and you don't get inspired then. You don't have a circle. You have a cage. I to hear that people are motivated to retire early to escape job. They hate but i would caution. That early retirement is not a destination. That's immediately going to make you happy. I've heard it said by people who have retired early that if you're miserable before retirement you will be miserable. After and the reason is that circumstances account for a pretty small portion of her overall happiness. So i think it's important to evaluate. Is it really the job or are we the source of our own happiness. Because if it's us we're going to carry that with us whether we find a new job or retire early. If it really is the job you may already be in a financial position to leave even if you aren't financially independent. One way to think about it is that one sure out of debt and you have a healthy emergency fund of say one to two years in cash you essentially have. Fu you money. Meaning that you don't have to do what you don't want do if you really don't like that job. Perhaps it's time to quit. Leave off your savings for a minute and decide your next move and that will do it for today. Have a great day in start your weekend. Thank you for listening. And i'll be back here tomorrow. Where your optimal life awaits.