When I say the word “retirement” to you, what do you think of? Are you scared? Are you excited? Are you thinking that's never going to happen? Are you wondering what the heck you're going to do with your free time?
What Does Retirement Mean to You?
One of the things I’ve found over the years, and it started way back when I was working on my master's degree in psychology, was that so many people have extremely different definitions of what retirement is.
I remember I asked somebody what his definition of retirement was, and this gentleman was about 30 years old at the time. His definition was helping his clients find the right financial service products for their families and being able to enjoy life while he did that. Then he said, “Actually, by that definition, I'm already pretty much retired. I'm grateful for the life I have, I'm doing well, and I'm...
If I told you there was a way you could add 6 more years to your life, would that interest you?
6 Extra Years
Six years is about a little under 2,156 Fridays. When I talk to people about working a 4-Day Work Week and how important that is and what a big difference it can make in their lives, they often agree it would be nice, but lack a sense of urgency.
In this post, we’re going to go over something that I hope will get you moving towards a 4-Day Work Week, or a similar lifestyle, with a sense of urgency and purpose.Without that, it's not going to happen, so this is a really critical point to understand.
I call this the 2,156-Day Problem, but it could just as easily be the 2,156-Day Opportunity, depending on how you look at it. It’s based on average numbers for the United States. The average U.S. worker works 49 work weeks per year, with 15 paid vacation and/or sick...
If I offered you 10 million dollars to learn a new language completely in one day, could you do it?
What if I offered you that same 10 million to learn a language completely over a five-year period?Does that sound a little more doable? If you could get that 10 million dollars, and although you knew you’d have to work for it, but you couldn’t make it happen in a day, would you go for it?
A 4-Day Work Week Is Worth Waiting For
I want you to take that same logic and apply it to working a 4-Day Work Week. This counts whether you're an employee or an entrepreneur, but I'm going to speak even more specifically to the entrepreneurs who are already making enough money, or let's say 80%-90% of the income they need to be making.
I have coaching clients that have paid me to help them work a 4-Day Work Week. I have other clients from my software company who have seen the ideas I share...
Are you an entrepreneur who started your own business so you could have more income and more freedom? And have you reached those objectives yet? Or are they simply things you might like to do in the future?
The Entrepreneur’s Dilemma
Many entrepreneurs I've talked to have figured out how earn as much as they need, and how to earn additional income. However, most of them have not figured out how to turn that income into a better lifestyle – and how to get more freedom for themselves.
It’s easy to get caught in a trap: you’re a small business owner, and as the business gets more successful, you make more money. But you also have more clients, more responsibility, and more people counting on you. Life becomes crazy. You can’t let go of clients, because if you don’t have enough clients, you don’t make enough money. But if you have too many clients,...
Just because you're an employee, that doesn't mean you have to be working long hours forever.
20+ years ago, when I first began trying to work less than a 5 days a week, the corporate environment wasn’t really ready for that. It was all very clear-cut: People had to work certain hours, and had to do things a certain way, and had to be present in the office.
If I asked to work fewer hours, the answer was always, "Well, if we let you work fewer hours, we’d have to let everybody else work fewer hours. Then where would we be?"
Thankfully, as the marketplace has become increasingly results-focused, many small business owners and some larger corporations are starting to understand how important it is to have people be fresh, get results, and retain employees for the long run.
There's a saying in recruiting that goes ‘I'd rather hire great people and ultimately lose them than...
The 4-Day Work Week Apprentice stage of the 4-Day Work Week Journey is focused on maximizing your life outside of work without even needing to change jobs.
Whether you're a worker, an employee, an entrepreneur or a business owner, the Apprentice stage is all about making sure you're able to make the most of:
In each of these stages, there are certain milestones that let you know you're on the right track and you're mastering that stage. They don’t mean you'll stay there forever. I know sometimes I master certain parts and then I lose my footing on other parts, but when I do these things, life is a whole lot better.
For every one of these milestones I'm going to give you, you can decide whether or not you want to do them. If you do, set a target date, and maintain or monitor your status for that...
The first stage in the 4-Day Work Week journey is to become a 4-Day Work Week Apprentice. Many people will move further along the process, and they'll become a 4-Day Work Week Entrepreneur or even a Business Owner, but they won't have mastered some of the milestones and the things that need to be mastered to be a good 4-Day Work Week Apprentice.
The 4-Day Work Week Apprentice is focused on maximizing your life outside of work, without having to change jobs, whether you're an entrepreneur or an employee. It’s all about optimizing:
For each of those 4 areas, there are certain milestones that help you know that you're on the right track. For me, sometimes I’m on top of these milestones and sometimes I’m not, but I know that I’m a lot happier when I’m...
The 4-Day Work Week Apprentice stage is the first stage in the 4-Day Work Week Journey. It's where we focus on maximizing your life outside of work without even needing to change jobs.
Whether you're already an entrepreneur, or whether you're an employee, this lesson applies for you, and will work for you. In each of these stages where we work towards mastery of the 4-Day Work Week Lifestyle, the Apprentice stage focuses on controlling and optimizing what you already have. This includes making the most of your:
In each of these steps there are milestones you can achieve that let you know you're mastering the process as much as possible. As somebody who is simultaneously a student and a mentor, sometimes I have these things down, and sometimes I don't. When I'm doing these things, my life is much better. When I'm not, it's...
Are you making room for your most important relationships? Do you get enough quality time with your loved ones and friends?
The 4-Day Work Week Apprentice
There are 4 stages to the 4-Day Work Week journey. Most people proceed through these stages as they gain mastery.
The first stage is called the 4-Day Work Week Apprentice. Here, we focus on maximizing our life outside of work without needing to change jobs. Over time, we might evolve to the next step of being a 4-Day Worker, or even to being an entrepreneur or business owner.
However, no matter what point you are at on the journey, we all need to be able to master our ability to optimize life outside of work. This process includes optimizing:
How we invest our time
How we invest our money
The things we possess.
In any of these stages, there are certain milestones you achieve that help to confirm that you have mastered that...
Today, I want to help you learn something that I thought I knew, but then because I was little to clever with things, it ended up kicking me in the butt and took me a while to figure it out properly. That’s right: credit card debt.
Maybe you're in the same situation. If you look at statistics on credit card debt for Americans, you'll see numbers anywhere from $4,000 to $6,000 per individual or $10,000 to $16,000 per household. There’s a lot of data out there that you can interpret in many different ways, but we at least know there’s plenty of credit card debt in the USA.
Rather than try to prove anything, I want to just show you a simple mathematical example of what having credit card debt can be costing you in vacation time.
Doing the Math on Credit Card Debt
Imagine you have $12,000 of credit card debt, and you're paying 25% on that. 25% of $12,000 would be $3,000 annually, and if you...