It’s been a while since my last post. Summer has flown by as they all tend to do. I’ve settled into my Midwestern lifestyle quite well. The bike I purchased when I moved out here has been getting put to work at least five times per week. I’ve been trying to make it to the gym four times per week. I’ve been traveling all over the place for weddings, holidays, and family events. During travel I’ve been plowing through interesting podcasts. I’ve made a conscious effort to read a lot more. I just finished “How I Found Freedom in an Unfree World” by Harry Browne and I’m now onto the 700 plus page behemoth “Titan: The Life of John D. Rockefeller, Sr.” by Ron Chernow (I’ll report back on this one when I finish it in 2018).
My personal finances have pretty much been on auto pilot for some time now. Moving to the Midwest provided some excitement for a while as I didn’t know exactly where my expenses would fall out. But now that I’ve been here for a few months everything is kind of boring on the financial front again.
Researching personal finance, financial independence, investing, etc., has taken up a lot of my spare time in the past few years. Now I’m at a point where I am at a very comfortable spot with my financial plan. My systems are in place and everything is running like a well oiled machine. My 401k contribution is set to max early in the year, my HSA contribution is set to max, every two weeks I invest my surplus cash into Vanguard like clockwork, my debt is gone*, and I’m happy with my run-rate expenses (haven’t cut cable yet but that may be coming soon).
Even though everything looks great from 30,000 feet, I get a little stir crazy at times. I feel like I should be doing MORE. For the past couple years I have been optimizing everything related to my personal finances. Increasing income, trimming expenses, funding emergency fund, investing, paying down debt, etc., all of which took a lot of work, time, and planning. Now I read other personal finance blogs and everyone is talking about that side hustle life. Making extra money outside their normal day jobs to help them reach their financial goals faster. Honestly reading about all this hustling makes me feel a little guilty that I’m not doing more.
After months of figuring out what else I could be doing, I’ve finally come to terms with the fact that it is OKAY to not pursue a side hustle. By no means do I think it is a bad idea to have a side hustle, I actually think it’s a great idea. But for me right now, it just doesn’t make sense. My day job income has been increasing fairly rapidly as of late allowing me to reach my financial goals much faster than originally projected. Therefore the gap between my income and expenses continues to grow. I no longer have debt looming over my head. The more my day job income increases, the more significant the side hustle would have to be to make a dent in my financial goals. I’ve accepted that it’s okay to use my time outside of work to do things that don’t earn money and bring me joy instead.
Part of this FIRE journey is charting your own path without concern for what others are doing. I know I shouldn’t be comparing myself to others, but that doesn’t mean it’s an easy task. The journey itself needs to be enjoyable. I do not need to feel guilty when I’m going for a bike ride or watching Netflix with my girlfriend instead of starting a business on the side. Some may say it’s risky to have all of one’s income completely concentrated in one source. I would agree to a point, but the further your income moves away from your expenses, the less of a risk it actually is. At the end of the day hustlin’ for me would most likely have a slight positive impact on my financial picture, and a larger negative impact on my personal life. And for that reason – everyday I’m not hustlin’.
Do you ever feel guilty when you’re not leveraging your spare time to earn more income? How have you gone about dealing with it?
* – I paid off my last student loan a week ago. I am now DEBT FREE!