“I make a good living as a lawyer and I’ve saved up a reasonable amount of money over the years. The problem is- I don’t enjoy my work. I really want to be a creative writer, but writing can’t pay my bills. I would like to find a way to be able to work at what I love and still be able to achieve my financial goals.”

For many people, a job is merely a means to an end – getting a paycheck to pay their bills. It can feel like an empty existence when 40 hours per week of your life brings little personal fulfillment. Then there are some who are so passionate about their calling, that they ignore the fact that the job isn’t meeting their financial needs, until a penniless retirement looms in their future.

Is it possible to have the best of both worlds- to work for love and for money?

Working with passion

Your passion in work is tied to your natural talents and abilities. Think of all those activities that energize and excite you and get your creative juices flowing. Your objective should be to incorporate your passions into what you do for a living.

The following are some examples of what it looks like when you are working within your passion. The author of these ‘passion indicators’ was not credited.

1. Your best and most natural forms of creative expression are what you are paid to do.
2. You enthusiastically look forward to going to work most of the time.
3. Your job fits you so well that often work is play.
4. The result of your efforts makes a contribution that matters to you. You don’t spend your days working for something that you don’t really care about.
5. A day on the job leaves you feeling energized, not burned out.

There are many people that have chosen to work at what they love to do, regardless of the amount on the paycheck. For example, many teachers or artists will say that they are committed to their careers and get fulfillment from what they do for a living. The challenge is that often the salary or rewards that come along with the job isn’t sufficient to pay their bills, and they are forced to stop doing what they love.

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How can you make money doing what you love?

The first thing is to be very clear about what you want out of life. If you really want to be a writer, then make that your goal. You would then seek out training and work options in line with your passion, while you are on your current job.

For example, you could join a writer’s group and attend creative writing workshops. You can network with established writers to see how they made it. This will give you a sense of fulfillment that you’re making steps that will take you towards your goal.

The next question to ask yourself is- “How can I pursue my passion and make enough money to meet my financial objectives?” If the career you’re passionate isn’t normally a high-paying one, think of how you can create a niche for yourself that can increase your income. For example a teacher could choose to have private extra lessons or write a textbook and offer it for sale.

In your case, your savings could provide the key to giving you the freedom to become a writer. If you invest wisely in income-generating real estate or you’re willing to learn about higher risk/higher return options, then you could supplement your working income with returns from these investments. Of course, writing a best-selling book would give you the best of both worlds!

Marketing your talents is really the key to being successful at working for love and for money. One definition of an entrepreneur is someone who solves problems in return for money. Think about what you’re passionate about and consider if there is any need or problem that exists in your environment that you can fulfill or solve with the use of your natural talents.

For example, an artist can decorate homes with the newest paint techniques or a musician can provide entertainment at neighborhood parties. Create a market for yourself and you’ll see the profits coming from your passion.

Copyright © 2007 Cherryl Hanson Simpson. No reproduction without written consent.

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Originally published in The Daily Observer, February 15, 2007

Cherryl is a financial columnist, consultant and coach. See more of her work at www.financiallyfreenetwork.com and www.financiallysmartonline.com. Contact Cherryl