Here are the six strategies, evaluated….
I think there are only six – let me know if I missed one
People have different motivations – across the top – in fact we all want all of these, to varying degrees
– earn good money during our working years
– have plenty of spare time during our working years
– plenty of money during our retirement
– nice long retirement
– to enjoy our job
– to have a strategy that is certain, or likely, to give the above benefits
So I have evaluated my strategies against the various motivators to see which one is best – and as you can see they all have pros and cons…..
Which strategy path are YOU on?
*****
Examples of the types of job that would be in each of the six categories:
Undemanding – outside is what matters
Working for an organisation: Admin, Local Government (though that also can contain vocations and career ladder of course), manual labour, gardener, software developer, machinist, welder, (I’m not saying it’s easy, just that you have the option to disengage and put your energy into priorities outside work), HR?, waiter/waitress, postman, lorry driver, taxi driver, delivery driver, car mechanic
Lifestyle business
Self employed: Builder, Trainer (like me), Graphic designer, Digital nomad, Online work, Video editing, coach, interim manager, gardener, accountant, financial adviser, lawyer/barrister, taxi/truck/deliveries, driving instructor, car mechanic, PA, interior design, graphic design
Corporate career ladder
Management, either within one company or by changing company frequently, managing large numbers of people, Architect, Sales Management, Engineering Management, Operations Management, HR, Lawyer
Early retirement
The City / trading leave before (or when) you burn out, senior management job with retirement option, well paid / save up money, Armed Forces?
Vocation – Rewarding job regardless of money
Working for an organisation: Engineer, doctor, nurse, teacher, charity, helping animals, working with animals, conservation, gardener (yes, it’s in three paces depending on what kind of gardener you are!), Architect, Fire/Ambulance service, software developer, Police, Armed Forces, music (production, session player, band), accountant, designer, interior design, graphic design
Build and sell off your company
A business in any sector, started on your own or with one or two colleagues, building the number of people you employ, aiming for a point where it can run without you. You might start out as an entrepreneur, inventor, lawyer, software specialist, sales person, designer etc – anything that can be grown.
For more information on this subject, check out my Life Skills Collection
Jay says
Please justify the “S”
Why can’t you run/sell off a company, and have a high income along the way? Why no happiness?
Chris Croft says
I think that is possible, but difficult and certainly not guaranteed. I know a few people who have actually gone down this path and they have mostly foregone biog earnings during the building of their companies, but more importantly they have had to give up a lot of time and personal life, paying quite a large happiness price in the short term for the reward later. And then when (if!) they sell it they aren’t always happy, some of them got bored and went back into starting up another company.
dallasroyprice says
One does get tired of permanent holiday… need to get back to rainy old england and a rather smelly dog.