How to know if it’s time for a career change

Money Dial: Convenience. Let’s continue looking at Money Dials To view this email as a web page, [click here]() [IWT Header] Money Dial: Convenience Let’s continue looking at Money Dials — what we LOVE spending money on. Even if convenience is not your top Money Dial, take note of how it fits into your own spending habits. The convenience Money Dial means spending on anything that makes your life more convenient. Examples: - Travel apps - Ubers - Extra iPhone charger - Pre-cooked meals - Everything delivered - Automated bank accounts (and automation in many parts of life) I love spending my money on convenience. I’ve turned the Money Dial all the way up. I spend more than $50,000 a year on a personal trainer, chef, and other luxury services to streamline my life and reduce stress in those areas. If you want more convenience, simpler examples would be buying pre-cut vegetables at the grocery store so you can avoid the messy and time-consuming chopping at home. Here are other examples from our readers: “For a year we spent money on Blue Apron. It made life easier to come home and know what we were having for dinner and everything was right there in the fridge…I love buying back my time!” “Splurged on a luxury car service to take me from Los Angeles to Huntington Beach. Cost hundreds more than an Uber would have, but I wanted the convenience of knowing I’d have a ride at the time I wanted. I rode in style and comfort and didn’t need to worry about the logistics of that trip: I learned that when you splurge on a ‘luxury’ experience, they take care of things like showing up on time for you — you don’t need to worry about that.” “The $350 I spent on a Roomba was a game-changer in the dog hair game.” Reply to this and let me know: Is convenience your Money Dial? If it is, how can you turn the dial up? --------------------------------------------------------------- The 3 “Career Change Frameworks” How do you know when to make a career change? Sometimes, the right path isn’t clear. But through my own experience, as well as years of research and interviewing others, I’ve come up with three frameworks to help you decide. 1. Reverse EngineeringOne technique you can use to make a career change is to “reverse engineer” the careers of people you admire. You can do 50% of this online simply by studying their career history (use LinkedIn) and analyzing how they ended up where they did. What was their first job out of college? How did they switch industries? Oh, they got laid off when their third employer shut down? How did they transition then? But there’s a twist. Most people take that knowledge and then copy the exact same career moves. I call this Moronic Modeling. “Ah, got it! So I should start working at a magazine … then switch to TV … then finally write a book and become famous!” No, you’re copying the tactics without understanding why they worked. It’s like an aspiring chef going to a restaurant, eating the food, and then thinking that knowing the ingredients alone will let them make the exact same dish. Wrong! There’s another part: Understanding the context. This means understanding WHY the person made those decisions, not just WHAT those decisions were. For example: - When should you take a job with a 40% pay cut? - Under what circumstances should you move to a small city vs. a big one? - How do you know when to leave your company? - Should you aim for more money or work/life balance? - What do you do if you hate your boss? If you understand the WHY — the frameworks to make the right decisions for you — you can adapt them to almost every possible situation you’ll encounter. 2. Yes and YesIt’s fascinating when people let their barriers slip out in their actual language. Usually, they don’t even realize they’re doing it. One way we do this is by creating false dichotomies. “Ramit, should I do X or Y?” My answer is usually “Yes and yes.” This is the idea that top performers don’t do X or Y — they do both, and they’re better at it than everyone else. 3. Regret MinimizationThe Regret Minimization concept comes from Jeff Bezos. It’s pretty simple. Ask yourself: “I’m going to look at things as if I’m 10, 20, 30 years in the future. Would I regret making this decision, or would I regret NOT making this decision?” There’s also a famous Mark Twain quote: “We regret the things we don’t do more than the things we do.” We don’t want to be on our deathbeds wondering “What would have happened if…” So when you have the opportunity to change careers, ask yourself if you would regret NOT changing careers. It should become pretty clear what the answer is. [Click here]() to read more about these three Career Change Frameworks. --------------------------------------------------------------- How to clarify what your Dream Job really looks like Today, I invite you to take a few minutes to step out of the day-to-day grind and look at your career from a bird's-eye view. Resist the urge to fixate on that tiny annoyance at work. I don’t care if it’s the rambling co-worker or the micromanager boss. Think bigger. If someone were looking at your career, what would they say? That will help us get some perspective. When you think about your whole career so far — and the careers of your friends and coworkers — what do you notice? - When you started working, what did you envision? Does your office look like the one you dreamed about? Does your salary? What about the work you do day to day? - When you think about others’ careers, do you see smart, talented, ambitious people who start out ambitious ... and then stall out? - What about the person you know who seems to keep getting promoted? How do they do it? Are they just lucky? Are they a smooth talker? What else? - When you ask your friends how work is, do they shrug and say "Meh ... it’s a job," or do they get excited and talk about the latest cool new project they're working on? If I asked you, “How’s work?” how would you answer? And most important of all: If you think about the future, are you excited? Or are you ... numb? [5 questions to ask yourself]() These are difficult and uncomfortable questions. Now, think about your Dream Job. What does it look like? Can you describe it in detail? Specifics like who your coworkers are, what the company culture is like, how many hours you work each week? Defining our Dream Jobs is one of the first steps to attaining it. How can we know if a job is our Dream Job if we haven’t described it in advance? I’ve helped thousands of students get their Dream Jobs. And I’ve developed a simple series of questions to help you get clarity. You’ll learn how close your current job is to your Dream Job … as well as what to look for in your next job — your Dream Job. [Click here]() and I’ll send you the “Define Your Dream Job” questionnaire. [Signature] WHAT TO DO NEXT - REPLY TO THIS EMAIL: Is convenience your Money Dial? If it is, how can you turn the dial up? - CHECK IT OUT: Thinking about making a career change but aren’t sure? [Click here]() to read more about the three “Career Change Frameworks” that can help you decide. --------------------------------------------------------------- What did you think of today's newsletter? 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