When people discuss happiness, work-life balance often comes to mind. But finding it can be more complicated than you think.
Professional success can come with more than just financial rewards—it can be highly fulfilling but can also come with a personal cost. A survey of more than 17,000 workers by Mental Health America found that 52% reported workplace stress as “always or often” affecting relationships with friends and family.
That may be one reason work-life balance has become such an important, and hotly debated, topic.
“Work-life balance can mean different things to different people,” says Cameron Simmons, Wealth Advisor for Regions Private Wealth Management in Nashville, Tennessee. To attain it, “the first step is to think through what a better balance would look like in your life.”
She recommends answering these three questions to help you find your balance.
Can I buy more time?
Research has shown that people who spend money to save time are happier than people who spend money on stuff. Make a list of the responsibilities you might be able to hire someone else to do and workplace deliverables you could delegate to coworkers.
Can technology help?
If avoiding your commute and working from home one or more days a week would be a major stress reducer, Simmons recommends talking to your employer about the possibility.
But Simmons also suggests that you examine and evaluate your personal boundaries with technology. “I realized when I was with my own family that I was constantly checking my email,” she says. “Being truly present and not constantly looking down at my emails made a difference for my entire family.”
Do I really need to work this hard?
One of Simmons’ clients is a restaurateur. With one successful restaurant, he was able to spend time with his young daughter and get home for dinner. When he opened a second restaurant, it upended his personal life. Finally, he decided to sell the second restaurant. “He was happier with one restaurant that allowed him to enjoy his family.”
Another option for business owners is to start working on your succession plan. “As you are in the process of grooming the next generation, you may find that your successors may be ready to take on some of your responsibilities now,” Simmons says. “You are still involved, but you are giving yourself more time to play golf, travel, volunteer, to enjoy your life more.”
Your Regions Wealth Advisor can help you explore ways to make your business and career plans support your most important goals.
