Getting Too Focused On Secondary Income Streams

Getting Too Focused On Secondary Income Streams
For today's article, I'd like to share some experiences and observations. I can't say that I have something profound to say, but I think it's important to share them anyway.

When I first started investing, I was very excited. And even today, I still am. It's the kind of excitement that makes someone very focused and driven.

I spent a lot of time researching various mutual funds. I tracked their progress - even the ones that I did not invest in. I spent a lot time following the stock market. I'd read the news sections of several newspapers, and looking at its effect on the stock market. And once I did invest, I spent countless hours computing and re-computing various scenarios.

Eventually, it affected my work. My boss called my attention and thankfully I was able to screw my head on straight, so to speak.

I feel that it was caused by the mixture of my apathy to my current job and my excitement with investing. But it might not be unique to me.

Several months ago, I heard about a former coworker in my previous company. Apparently she got really focused on her multilevel marketing scheme. She started coming in late to work, being absent often and not caring about her job. Like me, she had grown uninspired and uninterested in her work. I can relate, and I'm sure a lot of other people can too. But when her boss called her attention to it, she had a different reaction. Shortly after that, she resigned and focused instead on her side business. Unfortunately, the income from it was not enough to sustain her. Just a few months after resigning, she was re-applying for her old job.

And more recently, my wife was telling me about a coworker of hers. Apparently her coworker was so engrossed with his stock investments, that he was glued to it most of the time. And every now and then they'd hear a loud, elated outcry. Apparently when an especially profitable trade happens.

When my wife was telling me that story, I thought to myself that I didn't want to be like that. But then I realized I already was.

Since then I resolved to take some steps and not lose sight of the big picture. After all, none of the things I'm pursuing on the side is profitable enough to replace even half my income. So allotting too much time and focus on them will actually make me lose money, not make more.

I'll try to have more discipline in terms of when I pursue my side interests. I will still read the news and other resources, but I will limit the time I spend reading. I'll just prioritize the ones that are most relevant, and leave what I can't finish for another day. I will also limit the times I check the stock market. And I will attend to my tasks before pursuing other interests.

And I guess that also serves as my new year's resolution. :)

Overall I'm glad that nothing bad had to happen before I realized this. And hopefully other people are more cautious than me about losing sight of the big picture.

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photo credit: monkeyatlarge via photopin cc

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