How do your career and Money Roadmap align?

How do your career and Money Roadmap align?

If there’s one thing we’ve learned from 2020, it’s that change happens whether we like it or not. Changes in family, love, location, job; we’re ever-evolving.

Take your job for instance. Seemingly overnight, it could become either obsolete or bloom into something the world can’t live without. It could become a Blockbuster or an Amazon. And you, you get to determine which you become.

Whether a career transition is something unexpected or something of your choosing, your Money Roadmap will be impacted. At MainStreet, your Money Roadmap is more than just finances. It’s your vision, your milestones, your career, and all the pieces of your unique puzzle aligned with your finances. How is your money supporting your goals? Your Money Roadmap should tell you.

It doesn’t matter if you’re thinking a job change is in your future or not, there are simple things you can do to secure yourself emotionally and financially. These can help you maximize your current role and navigate a transition.

  1. Regularly evaluate your job. What do you like, dislike? Which activities fill your cup, and which drain your soul?
  2. Compare your benefits package to that of other similar roles, how does it stack up? Is it time to ask for a raise?
  3. Are you taking full advantage of your company benefits? 401(k), HSA, Incentive comp, vacation, etc.
  4. Are you satisfied with your work/life balance? Do you wish to grow, have more responsibility, try something new, scale back?
  5. Is this phase supporting your financial life plan? Are you saving for and living out your vision?

Navigating major decisions, like those that affect your livelihood can feel daunting. They may make you feel like you shouldn’t even be asking yourself these questions, that it’s easier to just stay as you are, or you should stick it out a little bit longer. This is falling into the trap of the sunk cost fallacy.

Sunk Cost Fallacy: continuing a behavior or endeavor as a result of previously invested resources (time, money or effort). Arkes & Blumer, 1985

We’ve already established that life is always changing so you shouldn’t fight to keep yourself in the same state solely based on what you’ve already put in. Rather, be proactive in your change. Put yourself in control of your life and your decisions, don’t wait for the changes to be forced upon you. I give you permission to ask yourself these questions and determine if what you spend the majority of your time doing is in support of you and your goals. If it’s not, you should be the one to make the change and make it in pursuit of living out your dream life. When you set yourself up for success by creating an aligned Money Roadmap you give yourself not only the ability, but the security to make these big life decisions with confidence.

If you’re looking for a coach to guide you through these changes, let’s connect and go on this journey together.

MainStreet Team
MainStreet Team

MainStreet Financial Planning, Inc., an independent fee-only financial planning firm was founded in Maryland in 2002 by Jim Ludwick, CFP® who passionately believed that financial planning advice should be accessible to people from all walks of life without product sales and investment management services. In 2006 Anna Sergunina, CFP® joined the team and together they grew MainStreet Financial to a nationally recognized company, with a team of 6 staff members and 5 offices across the country.

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