Success at 60, 70, 80hrs. How many hours a week?

6 replies [Last post]
prometheus.grp's picture
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Joined: 2008-07-07

Hello,
 
This is my first post on this RR. I have spent countless hours reading the posts here and I want to thank everyone for sharing there experiences and knowledge.
 
I am slated to start the study for success later this summer! I'm very excited about starting a new career and all of the new challenges that go along with it. 
 
I have given more effort into learning about this job and what it entails than I put into getting the job. I have spent many hours with FA's from EJ and several other firms. I have carefully selected my market and have already introduced myself to other FA's in the area.
 
I have overcome every objection I may have had, not many to be honest, except for one.
 
The number of hours required to invest in my career was just that upon first thought. It was mearly a number and easy to digest. Now that I'm planning what a work week would look like I'm having a hard time putting 60 hrs of work and balancing that with family and well being. I want to be prepared for any difficulties that may arise. I want my family to be comfortable with this decision. I want to be awesome at what I do and my foundation to be solid.
 
My question is for anyone who has more experience than I, Is it possible to have a healthy relationship with your spouse, your children, and maintain a healthy lifestyle while working as an FA?
 
If so, How?
 
If I'm at work at 7am, and back at home by 6pm what would a typical work week schedule look like?
 
I want to take a hard look at this now, while I'm mentally very strong as oppossed to 1-2 years from now when I may or may not be going through a hard time and wandering why I'm sacrificing time with my family for work.
 
Thank you in advance for your time!
 

newrepd's picture
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Joined: 2008-07-21

I made a post like this one about three days ago. If you scoll down a bit you can find it.
What I was told is that   60 hours a week and 5-6 hours on the weekend of SMART working for the first three years is part of the equation for success.

prometheus.grp's picture
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Joined: 2008-07-07

I'm tying to ascertain the impact 60 hours a week would have on the other areas of life that are important to me.

OldLady's picture
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Joined: 2006-11-19

I've heard it said about this business: "Work like no one else will for 5 years and live like no one else can for the rest of your life." 
We can't answer that question for you - we don't know anything about you or your family.  I can tell you that this is a fabulous career for family once you've survived - I had no problem being a weekly volunteer at my son's school - I could always attend any performance, track meet, etc. 
 
That's the good stuff - the bad stuff is that the first 3 years are incredibly tough.  There is financial stress and market stress.  You can't take much time away from your business.  Developing your business will consume almost every waking hour.  You will be afraid that you will fail to make it.  Years 4 & 5 generally get progressively better (unless you hit a bad market). 
 
I now only work about 8-9 months a year - I can spend a month at a time at our second home.  We have financial security and my husband could retire at 50.  My son could attend any camp or program he ever had an interest in, and went to a first class private college.  We have two paid for homes and I own my business.  And I have a terrific clientele that are fun to work with, they appreciate me, and they send me additional business.  I make a difference in their lives.  Good luck in your decision.

newrepd's picture
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Joined: 2008-07-21

Old Lady, I love reading stuff like that.....really keeps me going knowing the possibilities

BondGuy's picture
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Joined: 2006-09-21

Your life outside the business will suffer. The question is, can you and your family handle it?
 
As posted above this business will afford you and your family to live a dream life style of anything goes once you survive the first few grueling years. Money will never be an issue for you once you've reached a certain level of production. Your schedule becomes your own,  as flexible as you want to make it.
 
Work hard enough in the beginning and years from now you'll be pulling down 300, 400, 500k a year working 30 hours a week with two months vaca every year.  This isn't about making a living. This is about becoming wealthy. There are much easier ways to make a living.
 
The problem is this: Getting there.
 
Getting there requires a 100% focus and at least sixty hours a week. Starting out I did 70 to 80 hours a week. I did that for about seven years.
 
It will impact your family life. You won't see your kids during the week. You'll be leaving before they wake and coming home after they go to bed. In my case I squeezed my hours into Monday thru Friday and didn't work weekends. Weekends were for the family. Did it work? Yes and no. I'm was and am financially able to give my kids every opportunity, as well as every toy they could want. As they've gotten older the toys have turned into cars and houses, and of course, college. We've taken fabulous vacations, sailed, and travelled the countryside in a luxury motorhome.  One year we did roller coaster road trip travelling from park to park just to ride the coasters. Another was spent cliff diving at a mountainous state park. As a family we sailed our boat from Maryland to Bermuda, and then I taught my kids to race sail boats. We did that for years. I coached little league for ten years. Buttt, and there is a but, I missed their early childhood to get this done. They are only young once. I don't get that time back. And that was my price. As well as theirs. Once I backed off the hours I had to work hard to build a relationship with my four kids. Easier said than done. It took almost losing one to retrack my priorities.  
 
 Is it worth it? Only you can answer for yourself. Just know this, this business is merciless. It's the real deal. It's as close to owning your own business as you can get without making the monetary capital investment. The capital you will invest is your time. Work it hard and you will live like no one else can. Just know, nothing is free, there is a price.

anonymous's picture
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Joined: 2005-09-29

There is a price to pay for success.  There is a price to pay for failure.  What price do you want to pay?
Something has to give, but unlike Bondguy, I was not willing to let it impact my family life.   One of the reasons that I went into this career was because family has always been my top priority.    I wanted to make sure that if my kid had a baseball game Tuesday at 2:00, I wanted to be able to be there.  I'm proud to say that I've never missed an important family event.
That doesn't mean that I haven't given up other things.   For a long time, my life consisted of two things...work and family.  I'm often up at 5:00 A.M.  I'm often up very late doing work.  However, at least 6 days a week, I'm spending quality time with my family.
 
What did I give up?  I don't have time to just hang out with friends.

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