Seize the Day for Fiscal Independence and Work-Life Synergy

Wake up and seize your day with the zeal of an early bird! My personal testament to cracking the dawn has revolutionized my work-life balance, allowing me to bask in the glory of a condensed workweek and the freedom it brings. On today's episode, I pull back the curtains on how strategic planning and financial acumen can help you craft a seamless blend of productivity and pleasure. We'll stroll through the life of a supervisor who's nailed an intense work rhythm across multiple jobs, all with an eye on early retirement, much like a forward-thinking couple in New York turning duplex investments into their golden ticket. Join us as we dissect the art of maximizing 401(k) contributions and savvy real estate moves to weave the dream tapestry of financial independence and personal contentment.

The quest for financial freedom doesn't follow a one-size-fits-all blueprint, and this episode is a testament to that truth. Dive into the stories of unconventional income architects, like the visionary splitting his leadership talents between two companies while still carving out time for rejuvenation and family. My daughter and another enterprising young woman join the conversation, embodying the vibrant spirit of side hustles and part-time endeavors that pave the way for a well-rounded and financially secure future, without sidelining the joys of life. Tune in for an exploration of reimagined work models and the empowering role that financial resources play in sculpting a life that's not just comfortable, but truly balanced and fulfilling.

Welcome to Coaching Conversations

We have created a NEW service called Coach 2 YOU where leaders can assist short targeted 7 to 21 day programs to coach their employees without ANY of their own time to truly partner and assist in the coaching process. Get more info here: https://form.jotform.com/233504052497051

Checkout our Approachability & Coachability series where we use a webinar-based coaching approach to develop all employees to become approachable and coachable. This leads to better teamwork for leadership and organizational culture improvement

Get more info here: https://form.jotform.com/233023396805051

Transcript

Speaker 1: 0:37

You know one of the things I love about coaching and inquiring and asking people questions and learning. You learn what's possible. I remember many, many years ago when I was at IBM, I always got up early. I always went in and did my, I would say, during my college internship. You know the grunt work and I have to share this. I have developed that habit. I kept that habit. I still have that habit till this day.

Speaker 1: 1:04

I was working out today at 5 am. I started my day at 6. By 3 o'clock I've got a full day in, but I've got a large part of my day left over. So when you think about what's going on in the work world you hear these things about oh, we need to go to the four-day work week. I want to share with you a story, as I was discussing with someone. You know my philosophy. So I've started to take off Fridays. I leave Mondays for development day and I tell my people who I work with my team pack everything you can in between Tuesday and Thursday for me. If we need to use a Friday or Monday, I'm cool with that, but I don't want it to become the norm and it has given me so much time back in relaxation, which I don't typically do very well.

Speaker 1: 1:46

So I was telling this guy about it and he said well, you know what I do and he works for an organization, he is a supervisor at a company and he does work at a manufacturing services company. And he was telling me. He said, yeah, I started six and I end at two and I work another job from three to 11. Now, these aren't jobs, these are career jobs. And I said to him I said oh my gosh. He said well, you know, I'm an early bird like you. He said I get up early, even if I'm out till late in the night. He said oh my gosh. He said well, you know, I'm an early bird like you. He said I get up early, even if I'm out till late in the night. He said I'll still get up early, I'm like you, it's a habit, right. And he said I work from six to two. I take my lunch break somewhere in there, I get a little bit of break from two to three and then I start my other job from three to 11. And then I do that four days a work week, because each of the shifts are typically considered full time. So I get one day off during the week, which I typically use as Fridays. I said so, let me understand something. You are on a four-day work week, but a three-day weekend. He said well, actually I have a part-time job in the weekends. And he said it's just my wife and I, so I get up early and I work this one part-time job for my buddy's company.

Speaker 1: 3:07

And I said oh my gosh, can I ask where did you get this? He said look, I'm about to turn 40. I've been doing this for 10 years. And he said we still vacation, we still go out for dinner. He said I still have a life, I still socialize, my wife and I still do a lot of stuff together. And he said and I read an article and I want everyone to hear this, this is why we coach when you ask questions and you learn, you don't assume, you don't make a quick judgment and say, oh, I can never do a four-day work week or that'll never work.

Speaker 1: 3:40

And I said boy, that's incredibly hard what you're doing. He said what I'm basically doing is living off of one of those jobs and all of a sudden I had this aha moment and I sat there and I said so the other job, you must just max out your 401k. And he said oh, I do in both. And he said I still live off the first job my wife works. Now she works a normal eight to five and she understands. He said we talk every single day. When I get a break, we talk. And he said I feel like we maximize our time.

Speaker 1: 4:15

And I said I have to ask you. I get what you're doing, but where did it come from? And he said you know, I saw parents, saw them work, I saw them do all these things until they were 60. And then my dad got sick and he never got to enjoy retirement. Now, ironically, I just turned 60. So I sat there and I said boy, that's interesting. So what's the strategy? And he said I'm about to turn 40. I've been doing this for 10 years. So in essence, in work years I'm 50.

Speaker 1: 4:47

And there was my aha moment and I said I have to ask you do you own your own home? He said yep, it's paid for. I said 401k, I don't want to know the amount he goes. No, we're good. He said now it's a habit. I like working, but will I do two day jobs every single day? No, of course I won't, he said. But it really, really hit me that I thought you know what, when I'm 30, I'm going to do this for 10 years. I'm not going to be extravagant. I'm not going to go out and buy vacation homes. I'm not going to buy these, you know, 60, $70,000 cars. I'm going to enjoy my life, I'm going to enjoy my friends, I'm going to enjoy my wife. And here he is when he's turning 40. And I said I have to ask you, what has that positioned you to do? He said I could retire right now. He said I'm not going to, but I could.

Speaker 1: 5:41

Now I want to also share with you a young lady that I met in New York who was telling me that she wanted to retire when she was 40 as well. I said what are you talking about? She said, well, my husband and I own a bunch of duplexes. And I said oh, how many do you own? Now? I own two or three. At one point I'm thinking you know how many does she have? She's much younger. She said, oh, we have 21. And every year we paid a chunk of the principal down. She said by the time I'm 40, we will have a couple million dollars of real estate and a residual income and we'll never look back. And I said wow. I said where did you get this insight? She said my dad owned real estate.

Speaker 1: 6:21

So the reason I'm sharing this is this isn't about retiring early, but it's about doing things differently. I would never think to go a hard four days a week Now, from six to 11 o'clock at night. Now I want to share this with you. The funny thing is I already do, yet it's one job. Yet he's doing two jobs, getting paid twice. He has doubled his salary. He negotiated four days for each company. He doesn't let him go on. He said I need that day. It really rejuvenates me. He said my wife will work and do the same thing and we get these off.

Speaker 1: 7:04

I just sat there and I said wow, that is so cool. And he said I have total financial control and freedom. He said now, when I'm in later years, I can live off that savings. But he said I wanted to do something different. I didn't want to wait. I thought how do I maximize this? Here he is. These are not low-end jobs either. These are leadership positions.

Speaker 1: 7:28

Now someone might be listening to this saying there's no way I would do that. Then don't. Yet it shows you, though we can look at things differently. I'm a big fan of the four-day work week I really am, as long as we leverage those four days. Here's a guy who's working two jobs in four days. He's 40, I'm 60. Now I could retire today. Technically, I could retire today and be really okay. So could he. 20 years ahead of me, it's a different way to look at things.

Speaker 1: 8:01

So when I talked to my kids and I was talking to my daughter about some things that she was doing and I was telling another young lady at one of our client sites the story of you know just the way you look at things, and she said you know, I really want to have my own side hustle. I said oh, inc Magazine's got a great thing on side hustles. I said what do you want to do? She said I love the field that you're in. And she worked for a temp company, a staffing company, and now she's starting to do this on the side. So she negotiated part-time with them, went down a little bit in salary, kept full benefits, and now she has her own side hustle going.

Speaker 1: 8:37

See, I think when we accelerate income, I always tell people you know, when I hear people say things like, well, it's not all about money, yeah, but having it makes it a lot easier than not having it. It's like, well, it's not all about money, yeah, but having it makes it a lot easier than not having it. And we get caught up in the way things are done. But here are two clear examples of looking at things differently and doing things differently.