Around one week ago I asked all of you a bunch of questions because I want to learn more about all of you. A lot of you said that the job you currently have is not your dream job.
I’m sure that a lot of you can imagine and/or see where my posts have been going lately. Last year I made the post Do You Want To Be Self Employed and I have been thinking about it ever since. It seems like passion has been taking over the personal finance world a lot lately, with Jen, Holly and numerous other wonderful ladies and gentlemen who have decided to strike it out on their own. Guess what? Finding your dream job is possible!
The other day I was reading a post on Get Rich Slowly about how one reader quit her very promising and high-paying career so that she could enjoy life instead. And then after I read that post, I read about how another GRS reader actually QUIT his passion to take a boring job.
I’m not sure what I want to do anymore. My side hustle income is higher than ever, and I’m constantly looking to diversify it. Right now, I am definitely at the point where I could take a leap of faith and start pursuing other side hustles that I love, and focusing on those 100% instead of my normal 8-5 office job.
I’ve had this Money or Passion post lined up for quite some time in my blog to-do list, and I’m glad I can finally publish it. I’ve been asking a lot of you for tips, and so many of you have been responding to my tweets and emails.
When I decided on my major at the young age of 18, I did everything that I could to graduate quickly. I managed to graduate after 2.5 years, and that was even with taking a semester off. I was in a rush for multiple reasons: I wanted something to occupy my time so that I could stop thinking about how sick my dad had become, and also because I “thought” that graduating with two business-related degrees would do me good.
I thought life was all about money at that time, and not about what actually makes you happy. I thought pursuing your passion as your job was only for “lucky” people or people who had a specific talent. I was going for the more “realistic and responsible” direction by going for business degrees.
For some, your passion might bring in the money for you, and that is awesome! I have multiple passions, and when all combined into my side hustles and a potential volunteer position that I want to start – this all creates my passion. Luckily, my side hustles bring in a decent amount of money.
Also, luckily our bills are not very high. Altogether our bills and everything are less than $3,200 per month (bills, mortgage, food, and so on) and we could manage this along with still saving without getting too worried. We would want to live on less income and save more to prepare for the unexpected though.
Why I want to go for passion and enjoy life instead.
I’ve been thinking about life, the meaning of life, and where I want to go in life a lot lately. I can’t help it. With everything that has happened – mainly my father passing away and finding out that my grandfather passed away shortly thereafter, it’s hard not to think about how boring and routine everything has gotten.
I don’t want to wake up every morning and wonder where the day before went, and I don’t want to be begging for time to pass by just because I feel like I’m slaving away.
I want to continue with my side hustles (which would that become a part of my main hustle) and start a position at a non-profit that I love. I want the days to be enjoyed. I don’t want to wake up in the morning and complain like the world’s ending (which I’m sure W is tired of by now).
I’m still young. Today I am 24 (WOOHOO it is my birthday!). I have yet to take a break and pursue something that I love. Am I too old, too young, too naive to do this? I guess I’ll never know until I try.
I’ve always tried to be the responsible one. There have always been people who have relied on me, but now that they’re starting to do better as well, I have had the increased need to venture out and try something new.
So, what’s the negative/risk of pursuing my passion and finding my dream job?
The instability of it all! The fear of the unknown. I am a big worrier, and I always feel like the worst happens when you least expect it. I’m afraid that I’ll throw all my eggs in one basket and then it’ll explode. I’m afraid that I might be ruining my future. What if something happens and I regret my decision?
Now, I could continue to do everything – work my job and all of my side hustles, but at what cost? I want to start to enjoy life more. Life isn’t all about money. Yes, I could do everything and make more money, but I don’t care about that anymore. At what point is the amount of money that you have enough for you?
To quote the GRS post that I mentioned earlier – what makes me hesitant to pursue passion:
Your career is just one part of your life. You might not become a much happier person just because you do the work that satisfies you the most. You have to consider the effects it could have on you as a person besides just having to do the work. You should do the work that gives you balance, and not the work you love the most.
Should I be looking at work just as a way to make money, and keep my passions completely separate? Am I naive for thinking that I can combine both money and passion?
I’ve been doing a lot of thinking lately, and below are some tips to help you figure it out.
Determine why you no longer enjoy your job and why you are thinking about finding your dream job.
Have you always not enjoyed your job? What has changed? If you at one point enjoyed your job, then you need to really think about what you could do to change your job back to your passion.
Test the waters when deciding on your dream job.
I do understand that in some circumstances, you may need to leave your job IMMEDIATELY. However, if you can control your departure timing, see what you can dive into once you start your passion. You never know, your passion might not be exactly how you thought it was going to be.
Be realistic when finding your dream job.
I always include being realistic in my posts. It’s the most important step when deciding anything! Living in some make-believe fantasy world won’t solve anything. You want to set realistic expectations for what might or might not happen. Your passion might turn out not to be what you thought. You might find out AFTER you have already quit that you actually enjoyed your job a lot, and you might miss it.
What about you? Money or passion? Maybe BOTH?
What tips do you have for those looking to work for passion?
Do you think finding your dream job is possible?
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Happy bday! You have several months behind you to see how side gigs went and what they brought, so you can't predict the future but you can get a rough idea. Looks like you could easily live out of those and do the charity work as well. I wouldn't be too worried since you have different sources of income, and if everything goes wrong, the charity could even manage to give you a basic salary while you look for more work.
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Thanks Pauline! And you are very right. I just need to make the leap!
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It's difficult to just drop everything behind without holding unto something concrete. And this question, money over passion, have been the choices of a lot of us who has a day job and some side hustle. Its difficult finding the balance as well but they are right, "career is just one part of your life". So I'd still depend on us what choice will we have, which one will we choose.
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I agree KC, and that's what makes this so hard!
Michelle! I think you know how I feel like this. You've proven consistently that you can bring in a reasonable amount of income. I no longer see what's holding you back! Imagine a life without being restricted by the amount of vacation days you have. A life without a real boss. You can have it all! You just have to take a leap of faith.
Thanks Holly. You are seriously one of my big motivators! Your comment is my most favorite comment ever 🙂
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I think both! Going after your passion and figuring out a way to earn an income from it is key. The balance life comes from prioritizing.
I agree! 🙂
My recent post Pursuing What I Love or What Brings in the (Stable) Money
This issue with me is that my passion is tied to a certain degree with money. Snowboarding, particularly on a nationally competitive level, isn't cheap. Fortunately it isn't THAT crazy, and there are a lot of frugal ways to cut the costs down. Still, a barrier. My current job is boring, frustrating and high paying so I am sticking with it for now with the idea of saving / investing a lot towards buying my freedom in 5-6 years. That will but me in my early thirties, and I don't think that is a bad time to retire! Love posts like these, this is a conversation I wish would gain more traction nationally.
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5-6 years is very soon and is a great time to retire 🙂
Thanks for stopping by Mitchell, I greatly appreciate it.
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Happy Birthday! We've talked about this at length so you know my thoughts. Make a solid plan and realize the impact it will have on your future 5, 10 and 20 years down the road 🙂 Get diversifying 🙂
Thanks Lance!
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Happy Bday Michelle! Like Holly, I think you know my thoughts on this. 🙂 You've proven that you can bring in sustainable income and have a plan of what you want to do. As someone who took the leap last year I have spent the last 11 months wondering why on earth I waited so long. There are virtually no restrictions and you set what you want to do and when. Sure, there is a different kind of responsibility, but it is so worth it in the long run.
Thanks John! I always love to hear from others who are self employed. Makes me think it's definitely worth it.
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Happy Birthday! Money or passion? That's a tough one. My debt killed my passion, and now I'm sorta passionate about killing my debt…so I guess it's more about money right now? I also don't have a job to start and I'm limited in my abilities and do not have reliable transportation. I need to figure out a way to find passion in doing something from home to gain more income to throw at my debt!
Thanks! And there's nothing wrong with it being about money. For right now for me, it is money until I am better prepared.
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I graduated high school early and immediately took a job…I worked for the next 35 years. I spent the first half of those years building debt and the second half paying it off. So, for me it was about the money. I was really fortunate that I had jobs I really enjoyed and got a ton of recognition along the way. Opportunities and the money made it hard to leave but I always wanted to be my own boss and do something of value.
Once I paid off my debt, including the mortgage, I began saving so I could give myself a year to make something happen when I left my job. That happened last Oct. In answer to your questions:
1. Money, Passion or Both? Answer: Both if you can't afford to make it a year without an income. If you have the resources…by all means GET MOVING!!!
2. Tips for Pursuing Your Passion: Answer: Spend time BEFORE quitting your job to LEARN, LEARN, LEARN. Find others on the web or locally who are doing something similar to what you want to do and follow them, listen to podcasts, read books and watch videos in your subject. Learn about running that type of business. Start with the free options bc you can always add costs later. Write a business plan or, in the case of wanting to write a blog or book, create a detailed book proposal. Boring I know, but it really helps you think things through. If what you want to start is a brick & mortar business, interview other business owners to find out what challenges they face and how they overcome them. ASK, INVESTIGATE AND DOCUMENT. Be careful that you don't turn a passion into a burden.
Great post, Michelle!
Ree ~ I blog at EscapingDodge.com
Great tips! Thanks so much! 🙂 I started working full-time at 16 and haven't stopped since. I want to start enjoying life more 🙂
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Happy Birthday! 🙂
I'm with Holly on this one, and I think you know my vote as well. The thing is, all this freelancing stuff is still work! But I have an incredible life balance now that I've never had before. I choose when I work, who I work for, and how much I bring in (for the mostpart). I'm not a slave to anyone other than my own goals, dreams and aspirations. To me, that's living the sweet life.
Once I created my bare bones budget for freelancing and realized I have contracts that bring in more than that, I stopped stressing about the money. Sure, it sucks when I fluctuates so wildly ($10K one month, $7K the next), but I'm traveling more than ever, getting more done around the house (I love cooking, cleaning, DIY), and I'm running consistently. None of these things were in place day to day when I was stuck in the office jobs!!
Chase your dream–you're killing it in the income department and will most likely only make more once you take the plunge. 😉
I agree, it is still work! But I'm all for the better life balance just as you said. It sounds like your life has been super awesome these days, and I hope I can do the same!
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If the side gigs are what you're passionate about, and you've been able to prove they can bring in money, well… The next part seems pretty straightforward. But if the side gigs bore you more than your office job, then I'd hesitate before taking that leap.
Haha luckily I love all of my side gigs and they do not bore me 🙂
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I think that different circumstances can dictate one way or the other, but it sounds like you have the full ability to make the choice that you really want. It's certainly possible that you will quit your job and find that you don't love focusing 100% on your side gigs as much as you thought, but you won't know that unless you try. All signs point to you really feeling like you want to cut loose from the day job, and with your income and expenses I don't see any reason not to try it out. It may not work out, but so what? Then you move on to something else. It seems pretty likely that you'll be just fine though. Good luck!
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Thanks so much Matt! And you are right, if it doesn't work out, then I'll just move on to something else.
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For me, it's taking care of needs first – which means a job, salary, etc. With kids, I can't think of pursuing my passions first. That comes second, as a side gig.
Now, if I had pursued my passions years ago when starting out, that might have been a better time to jump all in. If one can do that, I think it would be great!
If we had kids, it would most likely be a completely different story. Thanks for stopping by 🙂
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It's a tough dilemma. Since you have side income that is more than your expenses, stability might be an illusion. You might save less for retirement, but you'll still be stable.
I'd say keep on going for several more years. See if your passive income streams can cover your monthly nut and then make the move. You've got the world ahead of you no problemo!
Good luck!
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I definitely want to work on my passive income and that is something that I will be working on extremely hard until I make the switch! 🙂
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I read somewhere that the best time to strike it out on your own is before 30. Apparently after 30 it's much harder to recover financially than beforehand, so now is probably the best time to try things on your own! I've also talked to an estate and tax attorney (for the millionaires) and he says anyone who is financially well-off always has at LEAST 3 income streams. With all your side income, I'm imagining that you're already pretty well diversified. I believe we are meant to work for money for a certain part of our life, until we can create enough residual income to live our lives the way we want. My question to you is, do you feel like working is sacrificing your lifestyle? If so, do you still NEED to make that sacrifice?
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Thanks so much Kyle! I do feel like it is sacrificing my lifestyle. I'm working so many hours and not enjoying life as much right now. Life is good, but it could be better 🙂
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