What is work-life balance?
Work-life balance means working 9am to 5pm so you may spend time along with your family and friends. It’s about with the ability to take regular holidays and having weekends and holidays off to spend along with your family members.
For many individuals, work-life balance is non-negotiable, so does that mean that folks who strive for work-life balance cannot get wealthy?
The excellent news is which you could get wealthy and have a life.
The secret to constructing wealth and achieving work-life balance lies in the trail to wealth you select to take.
There are 4 ways to construct wealth:
- Savers-Investors Path
- Via Ferrata Big Company
- Virtuoso Path
- The dreamer’s path to becoming an entrepreneur
The three paths to wealth that affect work-life balance are the trail of the company climber, the trail of the virtuoso, and the trail of the dreamer and entrepreneur.
Corporate Climbers are individuals who deal with climbing the company ladder with the goal of someday reaching a leadership position of their company. Those who follow this path must spend between 30% and 70% of their time traveling, which suggests Climbers are separated from family and friends while traveling. This prosperity path also cuts into vacations, weekends, and holidays—projects, emergencies, and obligations eat into your time with family and friends. Corporate Climbers work a mean of 51 hours per week during and after their climb up the company ladder.
The Virtuoso path to wealth includes individuals who’re at the highest of their field. They are industry experts or professionals of their field. Because they’re amongst the most effective of their field, their time is in demand and this affects time with family and friends. Virtuosos work a mean of fifty hours or more per week over the course of their careers.
Those pursuing wealth on the dreamer-entrepreneur path have little time for family and friends, especially within the early years of their business. Entrepreneurs work a mean of 61 hours per week for a few years. Once the business is mature and generating a gentle stream of income, which takes a mean of 12 years, the entrepreneurs can hire people to handle the day-to-day operations, freeing up lots of time to spend with family and friends.
The best path to wealth creation for those searching for work-life balance is the saver-investor path. This path doesn’t require excessive work hours, unlike the opposite three paths. The only requirements are a middle-class income and a normal of living that means that you can save and invest 20% or more of your take-home pay. This path, nevertheless, takes the longest. The saver-investors in my Rich Habits study took 32 years to get wealthy.
