Living With the Choices We've Made

Six years ago, after many years of working for mostly financial service companies, I decided to move to the nonprofit sector to find work that was hopefully a bit more meaningful. As a result my salary immediately dropped significantly. It took a few years and a couple of job changes to move back to my previous compensation. Then from 2003 to early 2005, a sudden loss of a supposedly secure position led me to try consulting. Although back in full time employment now and earning more than I ever have, it's still clear that my choices have resulted in less income than if I had stayed in the for-profit sector.

Five years ago, following a passion for helping others with their careers, my wife started her own business. It has been a long road towards profitability, as if often the case with starting a company. Having been so many job changes myself and realizing the importance of this type of work, I've fully supported her move. Having been subject to so many fluctuations working for others, it's certainly tempting to want to take responsibility for one's own career development.

These decisions have resulted in a situation where we struggle to meet our expenses. We've been fortunate to have savings to make up the difference but, as my wife has pointed out endlessly especially since we moved into our own house almost four years ago, it's important to earn enough to make ends meet. This is a main reason why I've sought new revenue opportunities, as documented in this blog. My overall philosophy about money was also influenced last year by attending a seminar based on Secrets of the Millionaire Mind - now I understand that making money is important. After my heavy reading campaign in recent months, I also know that it's better to not be dependent on any one job. Who knows when the next layoff, reorganization, restructuring etc. will occur? Since beginning my current job at the beginning of 2005, the organization has changed dramatically. My position still exists, but most of my department doesn't.

Do I regret the choices my wife and I made? Not really, but often I wonder why it's been so much of a struggle. Financial freedom is not easy to secure, but hopefully it will happen and be worth the pain to get there.