Simple question. Don’t lie to yourself.
Do you work too much?
I’m not asking if you work too hard.
I mean too much, as in too many hours of your life dedicated to a job.
I started thinking about this question after recently coming across a few surveys.
Let’s talk it out. Let me know what you think in the comments below.
I am shocked by these survey results.
I’m not often surprised by survey results. This is one of the rare exceptions.
According to a recent report from MyPerfectResume, 81% of workers worry they may lose their jobs in 2025.
8 out of 10 people! Is it just me, or is that mind-boggling?
On the flip side, only 4% of workers report no concerns about losing their jobs.
These numbers are shocking to me, but maybe I shouldn’t be that surprised. As Yahoo Finance explains,
Many large corporations have already announced or kicked off a round of layoffs, including Chevron, CNN, Estee Lauder, Meta, and Southwest Airlines. And that, of course, doesn’t count the thousands of workers terminated under Elon Musk’s campaign to reduce the federal workforce.
My mind immediately jumps to a follow-up question:
How many of those people worried about losing their jobs have an emergency savings account?
Sadly, the answer is probably very few people have meaningful savings.
Surveys like this one motivate me to continue bringing attention to core personal finance issues, like having adequate emergency savings. This is why I so strongly believe that talking about money is not taboo.
Life is too short and too precious to be in a constant state of worry. Is there any sense worrying about something, like getting laid off, when you have practically no control over whether it happens or not?
Instead of worrying about what we can’t control, I think it’s better to use our energy on what we can control, like saving up for emergencies.
Hopefully, you’re not one of these people worried about losing your job. If you are, there’s no better time than right now to prioritize your savings.
If the first survey shocked me, this one just makes me angry.
According to this Pew Research Center study, 46% of US workers take less paid time-off than they’re offered.
I need to say that again.
Nearly half of US workers choose to work more days than they are required to!
And, it gets worse if you’re a high earner or highly educated.
According to the same study, the more money you earn, the less likely you are to take your full paid time-off.
The more educated you are, the less likely you are to take your full paid time-off.
The more senior you are, like being a manager vs. non-manager, the less likely you are to take your full paid time-off.
If the first survey mentioned above surprised me, this one just makes me angry.
Do you recognize a difference between working hard and always working?
Don’t misunderstand why these results make me angry. It’s not about working hard vs. slacking off. It’s not about being a good employee vs. a bad employee. I am 100% in favor of people working hard and working with integrity to get the job done.
My frustration is that somewhere along the way, “working hard” turned into “always working.”
By the way, before you accuse me of being a slacker, I am no stranger to working hard.
I work full-time as a lawyer, manage 11 rental properties, teach law school courses on Wednesdays and Sundays, and publish three blog posts per week. Still, none of these things are more important to me than spending quality time with my family.
Years ago, I first read Tim Ferris’ game-changing book, The 4-Hour Workweek. Ferris described how his small business took off as soon as he started doing less, not more. He empowered his staff and stopped himself from getting in the way. Not only did his company thrive, he had more time available to pursue what really mattered in his life.
Since writing The 4-Hour Workweek, Ferris has become one of the most influential thought leaders around. To learn more from Ferris, visit his website here.
Why do you work so much?
If you’re one of these people choosing to work more hours instead of taking your earned vacation time, have you ever asked yourself why?
Keep in mind, these are days off that your company has already agreed to give you. You earned them. Why are you not taking them?
Are you worried about getting fired? Passed up for a promotion? Is your self-worth tied to how many hours per week you work?
Years from now, when your grandkids are huddled up for story time, do you plan on telling them how much you worked and how many life experiences you skipped out on?
These are hard questions to truthfully answer. If you’re being honest with yourself, you may start thinking about another set of questions:
Is this job the right job for me? Do I want to spend my life stressed from working too much? What would be a better use of my working hours so I can spend more time doing the things that I love with the people that I love?
I’ve spent a lot of time thinking about these questions. I’ve realized that I’ll never understand what the point is of working so much at the cost of spending time with the things and people you love.
Maybe I’m the weird one. But, I don’t think I am. Unfortunately, the data backs me up and confirms that working too much can have series consequences.
Fortunately, we can learn from strategies geared towards retirees. Let me explain.
Apply lessons for retirees to your life today.
Writing for BBC Science Focus Magazine, Hayley Bennett shares 5 expert tips for a healthy post-work life.
The tips include finding a purpose, strengthening your body, and rebuilding your brain.
When I came across this story, I immediately thought that we shouldn’t wait for retirement to do these things. This is solid advice for all of us, at any stage in our lives.
Do you know what sounds pretty great to me?
A life filled with purpose sounds pretty great. The same goes for being fit and smart.
The challenge is that work often gets in the way.
When we let this happen, the consequences can be catastrophic.
As just one example, lawyers as a profession have long struggled with mental health issues. I first learned about these challenges during law school orientation. Today, I see it in practice. Being a lawyer is a hard way to make a living. When you work as a lawyer, the hours are intense and stress levels are consistently high.
In 2023, the Washington Post analyzed data from the U.S. Bureau of Labor to determine what the most stressful jobs are. The study confirmed that lawyers are the most stressed.
Of course, lawyers are not alone in struggling in this regard due to long, stressful hours. The same study showed that people working in the finance and insurance industries were right up there with lawyers as being highly stressed.
Anecdotally, I’ve personally talked to people recently in a wide variety of other fields, like consultants and small business owners, who are frustrated for the same reasons.
The point is, regardless of industry, many of us struggle with work stress.
What can we do about it?
That’s a complicated question with many possible answers. For starters, I firmly believe that by building strong personal finance habits, we can create more opportunities to find purpose and practice good health.
I recommend you think back to our conversations about Parachute Money and why you should want to be good with money. When you’ve made thoughtful money choices, you can choose to live a life right now on your terms rather than waiting until retirement.
I agree with what you’re probably thinking. These are not easy or fun topics to think about. However, in my opinion, it’s much worse to let life go by while failing to take responsibility.
Am I wrong about people working too much?
Maybe I’m wrong about people working too much?
I don’t think I am.
The data paints a very sad picture for lawyers, and I have to believe anyone else working long and hard hours. If you have similar data about your profession, please share it with us. I hope I’m wrong about what that data will show, but I fear I’m right.
As always, let us know what you think in the comments below.
And, thank you for continuing to share stories you’ve come across that would be good to discuss here.