How to Earn Less and Have More - $200,000 vs $300,000 Income
I was traveling the other day when I suddenly had an epiphany. Here is what came to mind…
Would you rather have $200,000 a year in income or $300,000 in income?
IF this were the situation:
$200,000 a year = Working 40 hours a week
$300,000 a year = Working 80 hours a week
What is your TIME worth?
Years ago, when I working in the oil industry, I was earning a high income, but I was working 98 hours a week, traveling out of town and working overseas. I was essentially exchanging my social life, friends, dating, vacations and family events; all for the sake of making money. The classic “Golden Handcuffs” compromise. Around 2016, I was able to leave that work environment to pursue ventures that were more meaningful to me and that I could grow from. I was in desperate need of a work/life balance.
It’s a Choice
Passive Income is what allowed me to make this life transition. Fortunately, I made this choice years ago. With the little spare time I had, I chose to invest in real estate opportunities that provided cash flow (passive income) while I traded nearly 100% of my time for money. Over the years, these passive investments created multiple income streams, which allowed more freedom and flexibility over my time. In other words, I chose TIME over MONEY the second go-around.
What Are You Working Toward?
What is the value of your time? Is 200k or 300k a better option for you, given the difference between 40 hours vs 80 hours a week? There is no right or wrong answer; I have done both. Leave a comment below, I’d love to hear your thoughts.
To Your Success