1343: Create a Stable Life, Not a Stable Job by Tynan on Personal Development & Work-Life Balance

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[00:00:59] This is Optimal Work Daily, episode 1343.

[00:01:02] Create a stable life, not a stable job by Tynan of Tynan.com.

[00:01:09] And I'm Dan and this is the podcast where I read to you every single day of the week and we cover work and productivity.

[00:01:15] So we're going to jump right into our article for today as we optimize your life.

[00:01:19] Create a stable life, not a stable job by Tynan of Tynan.com.

[00:01:30] I was once talking to a new flight attendant about her job.

[00:01:33] I remarked at what a stable job it was since people always need to fly, they have strong unions and the airlines are big.

[00:01:40] A few months later and she was waiting to be furloughed once the conditions of the bailout money allowed it.

[00:01:45] Luckily, she had a very stable financial situation and life.

[00:01:49] So being furloughed wouldn't have a huge effect on her except for putting her career on pause.

[00:01:54] Life is full of people chasing the ghosts of things that used to exist.

[00:01:58] Just look at those who want things to be like they were in the 50s.

[00:02:01] One such ghost is a stable job.

[00:02:04] There are relative degrees of stability and I'm sure there are some jobs that are still mostly stable.

[00:02:09] But the average job in the US these days is not stable.

[00:02:13] If you value stability, there's nothing wrong with looking for the most stable job you can find.

[00:02:17] But you must accept that it may disappear.

[00:02:20] Before you join the ranks of those who want to go back to the 50s, think about what this loss of stability has given us.

[00:02:26] Now we have way more flexibility and the ability to create our own jobs through entrepreneurship or gig working.

[00:02:33] It's not good or bad, it's just different.

[00:02:36] Most people build lives around the presupposition of a stable job.

[00:02:40] They save very little money and think of their salary as monthly credits,

[00:02:44] which they can use to pay off financing for whatever it is they want to buy.

[00:02:47] This works pretty well as long as they keep their job because it's a very easy formula.

[00:02:52] Money in equals money out and it allows them to maximize their immediate pleasure.

[00:02:57] What happens when they lose their job?

[00:02:59] Well, about a third of my state, Nevada, found out in May of 2020.

[00:03:04] I knew that people are resilient and would figure out how to survive.

[00:03:07] But there's no denying the stress of the situation.

[00:03:10] You can't control the stability of your job but you can control the stability of many other factors in your life.

[00:03:16] Relying on a stable job creates a single point of failure.

[00:03:20] But creating a stable life affords you resiliency and flexibility.

[00:03:25] My cruise business, Cruise Sheet, is my biggest source of income and was affected dramatically due to COVID-19.

[00:03:31] Not only did sales drop to zero, everyone canceled their cruises.

[00:03:35] So my income looked like someone just added a negative sign before the usual number.

[00:03:40] It's not accurate to say that I don't care because I like my business and I want it to succeed.

[00:03:45] But I didn't worry for even a moment.

[00:03:47] If you have good enough shocks, you can't feel bumps on the road.

[00:03:51] You might still try to avoid them but when you hit them, you barely notice.

[00:03:55] Having a stable life creates big shocks.

[00:03:58] So how do you create a stable life?

[00:04:00] First, minimize your housing costs.

[00:04:02] Housing costs are the least flexible costs that most people have and they're also generally the largest.

[00:04:08] Way too many people live in expensive cities.

[00:04:11] Did you know that you can buy a fixer-upper five-bedroom mansion for under $100,000 in many areas of the country?

[00:04:17] There are plenty of places where you can rent an apartment for $500 or so a month.

[00:04:21] People feel entitled to live in expensive cities and while you're certainly entitled to try,

[00:04:26] it doesn't mean that it's a smart thing to do.

[00:04:29] When you expand your search beyond the five most popular cities in the U.S.,

[00:04:32] you drastically expand your options.

[00:04:35] It takes a little more searching and research to figure out where is a good fit

[00:04:38] but I suspect that most people could find a city that would suit them better than a top five city.

[00:04:43] If you live there for a year or two and don't love it, great.

[00:04:46] You saved thousands of dollars and will have an easier time in your next place.

[00:04:50] And if you do like it, you might be able to buy a house in cash within a few years

[00:04:54] and never pay for housing again.

[00:04:56] How's that for flexible?

[00:04:58] My house in Las Vegas literally cost about one-fortieth of what it would cost in San Francisco.

[00:05:03] At the time I would have certainly preferred to be in SF but I could easily recognize

[00:05:08] that it wasn't 40 times better than Las Vegas.

[00:05:10] Now that I've gotten to know this city,

[00:05:12] I wouldn't move back even if the price was exactly the same.

[00:05:15] Beyond housing, don't finance things.

[00:05:18] Pay cash or go without unless it's an absolute necessity.

[00:05:22] Build up savings.

[00:05:23] Not because you know what you want to spend it on someday but because you don't.

[00:05:27] Just like those car shocks, flexibility is stability.

[00:05:30] Finances are a large part of stability but they aren't everything.

[00:05:34] Create emotional stability so that you can weather storms and be happy no matter what happens.

[00:05:39] Create a stable friend circle so that you have people to turn to if you need to.

[00:05:43] Learn an array of valuable skills so that if your industry dies you can move to a different one.

[00:05:48] Learn skills like writing and social skills which will help you in many areas.

[00:05:53] Always improve your health so that you can be at your best and avoid medical bills.

[00:05:57] Create a life where it doesn't matter if your job is stable or not.

[00:06:01] A litmus test could be whether or not you could live the exact same life for a year

[00:06:05] if you had to spend the whole year job searching.

[00:06:08] That sounds out of reach for most people but that's only because most people have created

[00:06:11] precarious lives.

[00:06:13] Spend the next five years creating a stable life that can weather any storm

[00:06:17] and enjoy the benefits of it for the rest of your life.

[00:06:24] You just listened to the post titled,

[00:06:26] Create a Stable Life, Not a Stable Job by Tynan of Tynan.com

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[00:08:04] Learn more at evernorth.com slash wonder.

[00:08:07] And thank you to Tynan who is an author, coach and speaker

[00:08:10] who uses his unique set of experiences and skills

[00:08:13] to help people build habits and systems to reach their goals.

[00:08:16] And when I say unique, I really mean unique.

[00:08:19] He sold everything he owned to go on an extended world trip,

[00:08:22] started a cruise agency and lived in an RV for 10 years.

[00:08:26] His blog has a wide range of topics and stories so that is definitely worth checking out.

[00:08:31] As you can imagine, he likes to learn new things, build habits,

[00:08:34] explore the world, connect with awesome people and create good work.

[00:08:39] His books are best sellers on Amazon

[00:08:41] and he was even named a top blogger by Time magazine in 2013.

[00:08:45] You can check out all of his work and experiences at Tynan.com.

[00:08:49] That's T-Y-N-A-N dot com and I do have that linked for you

[00:08:53] in this episode's description.

[00:08:55] But that is going to wrap up our episode for today.

[00:08:58] Hope you enjoyed it and I'll see you right back here tomorrow

[00:09:01] where your optimal life awaits.