Knoxville, TN (February 2021)—You’re young (or heck, even youngish) only once. And the same is true for your kids who are growing up before your eyes. Yet many of us spend our best years putting work ahead of spending quality time with our kids and nurturing the relationships that matter most.
This tradeoff is part and parcel of The American Dream: the one that tells us to grind, hustle, stay busy, and pursue more and more, says Steve Cook. The problem is, working now so we can play later doesn’t always pay off like we hope—and it costs us more than we think.
“Many of us have bought into the narrative that we have to work really hard so that one day in the far-off future we can enjoy the good life,” says Cook, author of Lifeonaire: An Uncommon Approach to Wealth, Success, and Prosperity (Lifeonaire Promotions, LLC, 2018, ISBN: 978-0-9863228-7-7, $14.99). “Problem is, it’s a lie. ‘One day’ may never come. And if it does, you’ll find what you gave up was far more valuable than what you gained.”
Cook is adamant that the far better approach is working less and living more. The way to accomplish this is by living beneath your means. It frees you to spend some of the best years of your life living, not working yourself to death. You can put your nose to the grindstone later on.
It sounds good. But is it really doable? Absolutely, says Cook. But it requires that you stop listening to what the world tells you and pay attention to what your spirit is crying out for.
“That mindset shift is the most important step in the journey,” he says. “Once you do that, the rest tends to fall into place.” Here’s how to get started:
Really hear this wake-up call: Your kids won’t be young forever. Before you know it, they will be adults and won’t need your presence and guidance in the same way. And you can’t be the influence they need from the office, or while traveling for work. It takes spending time with them as their parent, teacher, coach, and friend to make a lasting positive impact.
Accept that “more is better” is a lie. The world wants to entice you with a “bigger is better” and “more is better” mentality. But achieving the outward trappings of success generally requires a lot of your time, energy, and focus. When you’re pursuing them, something has to give, and it’s almost always your most important relationships.
“You may tell yourself that you are pursuing making money for your family,” notes Cook. “But ask yourself: Does my family really need and want the big house, the new car, the fancy vacations? No, what they need and want more of is you. If you ask a five-year-old what they want more of, they will always choose time with you over your working more to provide something bigger.”
Start figuring how you might work less. This may or may not mean changing jobs. If your job right now consumes the lion’s share of your time and energy, you will either need to start looking elsewhere or talk to your boss about recalibrating your work. Or it might mean starting your own venture—one where you have more control over when and how much you work.
“This isn’t about shutting off your ambition,” says Cook. “Rather, it’s about asking yourself, What am I ambitious for? Would I rather have more memories or more stuff? Make sure you are not allowing yourself to be steered by what society thinks is right.”
Make a ten-year plan that puts your kids and family at the center. If you have young children, plan to spend the next ten years, give or take, prioritizing your family over work. This means combining your vision with your values to brainstorm a better life for yourself. This doesn’t mean that you don’t work for ten years; it simply means that during this time you won’t take on big endeavors or projects that will compromise the most important things in your life, like your family.
“Give your all to the parts of your job or your business that come most easily to you,” says Cook. “By focusing on those aspects of your work that you do well and saving more ambitious pursuits for later on when you have fewer commitments at home, you can help protect your time so you can be there for your family.”
Live simply and keep your needs low during this time. This might mean downsizing to a less expensive home, driving an older (paid off) car, dining out less, or forgoing vacations. Find ways to live within your means and avoid going into debt, as this also enables you to work less right now. Brainstorm what you don’t need in your life to be happy—keeping in mind that you need a lot less than you ever dreamed. (NOTE: See “Nine Fine Benefits of Living a Simpler Life” tipsheet below.)
“Living simply gives you many more options,” says Cook. “The more complicated your lifestyle, the less likely you are to have the option of being there for your family.”
Be vigilant for “business-building creep.” If part of your ten-year plan involves building up your own business, be sure to do it right, advises Cook. Consider how you can keep things small and manageable for now. You might have the best of intentions, but a growing business may demand that you make sacrifices…and if you’re not careful, you’ll find that these sacrifices may be costly for your kids.
“I know that the more I do with business, the more I think about it,” reflects Cook. “The more I think about it, the more I won’t be present. And I don’t even want to chance this. If I say that my family is most important to me, my actions need to reflect this.”
Remember, says Cook, you’re not giving up your ambition. You’re simply delaying it until later for something of greater value today.
“The ‘family now, work later’ sequence is better for many people than traditional retirement,” he adds. “Most people really thrive on work, at least meaningful work. It provides structure and a sense of purpose. And when the kids are grown and out of the house, you’re going to need something to do. Maybe that is the time to start building something big.”
# # #
Nine Fine Benefits of Living a Simpler Life
Insights from Steve Cook, author of Lifeonaire: An Uncommon Approach to Wealth, Success, and Prosperity (Lifeonaire Promotions, LLC, 2018, ISBN: 978-0-9863228-7-7, $14.99)
One cornerstone of Lifeonaire founder and author Steve Cook’s path to prosperity is cutting life down to the basics. By cutting out the things we don’t need—the giant mortgage, the shiny new cars, the pricey data plans, the lavish vacations—we free up money to fund income-producing assets. Yet there are many other benefits to dramatically simplifying your life.
1. You’ll quickly amass an emergency fund. If the water heater breaks, you’ll be able to replace it without going into debt.
2. You’ll set the right example for your kids. You can tell kids all day not to be materialistic, to avoid debt, to conserve and recycle, to save for the future—but if you don’t practice it, all your preaching is meaningless. We believe what we live every day.
3. You’ll be more likely to be able to afford college… If your kids choose to attend a four-year-college (not a necessity, by the way), you can help them do so without racking up major debt.
4. …And maybe retire someday yourself. If you choose to, that is. Hopefully part of your simpler life involves work that’s not so soul-crushing. You might choose to keep working for a long time and that’s great. True prosperity is about freedom to do what you want.
5. You’ll get to know your community. When we’re not spending thousands on big vacation getaways (in the post-COVID future of course!) we’re more likely to explore local parks, libraries, and other close-to-home attractions. This, in turn, can make us more engaged and involved citizens.
6. You’ll spend more time with family. Without expensive distractions to, well, distract you, you might find yourself going on hikes or bike rides, playing board games at home, or volunteering at the local food pantry or animal shelter together.
7. You’ll find a new sense of peace. Ask anyone who has started controlling their money rather than letting it control them: Instead of feeling deprived, you feel good. You won’t have the low-grade hum of anxiety that comes with overspending and racking up debt.
8. You’ll get more mindful and grateful. Consumerism creates a desire for more, more, more. In the quest for what we can buy and where we can go tomorrow, we miss out on the present. When we refocus, we may start noticing sunsets, birds at the feeder, or the simple pleasures of baking cookies or throwing a football with our kids.
9. You’ll get more generous and giving. The less you spend on yourself, the more you’ll free up to spend on others. And as the way you see the world changes, you’ll want to give. It feels good to be able to help—and even better to see your kids discover the joys of caring and sharing.
“Making the decision to live simply and sanely changes everything,” says Cook. “It’s not just a change in spending habits. It’s a shift in values and priorities. It changes who you are as a parent, a partner, a neighbor, and a human being.”
# # #
About the Author:
Steve Cook is the founder of Lifeonaire, an author, coach, real estate investor, speaker, father, and husband. He has a passion for teaching, giving, and his faith. After two failed restaurant ventures in 1998, Steve hit rock bottom and lost everything. With no money and nothing but a strong will to succeed, Steve turned to real estate investing, and his efforts were met with an uncommon success.
As a professional real estate investor, he has done over 550 deals and made millions of dollars, and it was that very success that led him to realize that having true abundance isn’t about a lot of money or possessions—it’s about having a wealth of life.
With this understanding, Steve founded Lifeonaire, and now his passion is sharing the message with others to help them live prosperous, abundant lives.
About the Book:
Lifeonaire; An Uncommon Approach to Wealth, Success, and Prosperity (Lifeonaire Promotions, LLC, 2018, ISBN: 978-0-9863228-7-7, $14.99) is available from major online booksellers.