We had a lively discussion in the last Webinar Wednesday. We talked about uncertainty – in the economy, job market and overall world order (and this was all pre-war).
I coached on giving yourself a longer runway and bigger buffer for any career moves you’re considering.
Two things I’m doing differently:
1. Risk management weighs much more heavily in my financial decisions. For example, I’m part of an international real estate investing group. While the last few deals might have been a Yes for me previously, my cost-benefit analysis has changed. In an uncertain investment market, liquidity is a dealbreaker so the bar is that much higher for any new investment.
2. Flexibility drives my business decisions. For example, my work has always been a mix of one-off (e.g., keynote talk) and ongoing projects (e.g., multi-month consulting assignment). I’m prioritizing one-off projects right now for the flexibility in scheduling and in what I focus on. In an uncertain business environment, there is even more value in being able to experiment more and change gears more frequently.
What are your key decision drivers?
In a recent Forbes post, 3 Options To Consider If You Retired Too Early And Need Income Again, I featured a recent survey by ResumeBuilder, showing that retirees were going back to work because today’s market was not in their retirement plans. I shared different tactics, such as building a business around what you love, moving to a lower-cost area, and house-hacking. Give it a read for ideas you might consider. Even if you keep the career you have, it might prompt you to think more creatively.
If you want something you’ve never had, you must be willing to do something you’ve never done. —Thomas Jefferson
What do you need to do differently for today’s market?
