Personal finance has a certain ebb and flow about it. Long-term v. short-term. Risk v. Security. Gains v. Losses. Opportunity v. sacrifice.

Rarely do we find situations where opportunity knocks and no sacrifice or risk is necessary. Even the lotto requires that you risk money on an unlikely chance for gains.

The question I am mulling around today is how much is one willing to sacrifice to make career or financial gains at the potential risk to personal and family relations. On the small scale we make choices of whether to stay late at the office or attend to prior commitments with family or friends. On the larger scale there are times such as my willingness to take the risks of work travel to a place as danger as the Democratic Republic of Congo. This was for the benefit of my career at the potential risk of very real security concerns.

Plenty of people make choices that result in career or financial gains against the will of their family. Note that making choices for further ones career does not necessarily result in financial gains or increased wealth. Most often family have opinions that want you to take on career choices that make more money than less, i.e. the parents who want their child to be doctor when their talents are as an artist.

I am considering some choices in my career, and am wondering what sacrifices our readers have made to pursue career opportunities. If you have any insights to share on what you think the balance is, I would love to hear.

Thanks,

Miel

MANAGE YOUR MONEY TOGETHER

Here are some simple guidelines for DINKS to build wealth:

1) Collaborate: Meet regularly to talk about money, set goals together, track and monitor them.

2) Understand and respect your partner. Take time to understand your partners values about money.

3) Watch the numbers. Get a budget, monitor your spending and track your net worth.

4) Max your retirement. Maximize contributions to your tax deferred retirement accounts.

5) Invest in stock. Stocks perform better than bonds or cash.

6) Avoid high interest debt. Credit cards and title loans are financial cancer.

7) Diversify. Don't put all your eggs in one basket.

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