Three Important Myths on Delaying a Career

A combination of economic and cultural influences are propelling the trend of delayed adulthood. Through low-commitment job grazing, one can pursue recreational pursuits into the years previously occupied by traditional adult responsibilities: marriage, careers, parenting, and even home ownership.

Some might say YOLO. Life isn’t as short as we think, but our ability to get ahead might be.

Climb Now. Work Later?

“It’s worth focusing on my physical capabilities while I’m young. I can be more career focused as I age,” he said, stirring his foot in the damp, eastern Kentucky soil.

I spoke with a climber yesterday about the concept of early retirement. He first inquired about my work, which, as usual, led to an awkward and long-winded explanation that typically goes something like this:

“Well, umm,” I began, averting my gaze. “I used to work in the corporate world as a geologist in oil and gas. My wife and I saved our pennies and I left the industry a few years ago. Now I run a personal finance website (this usually results in an eyebrow rise, but not necessarily a good one). I’m also doing some non-related writing work on the side.”

We went on to discuss the idea of early retirement. I conceded that early retirement is overrated, as I’ve discussed a number of times on the blog and the podcast. He agreed, but for different reasons. This climber, young and relatively new to his career, felt that his physical aspirations were paramount at this point in his life. In other words, he believes that a pursuit of early retirement would be an unworthy sacrifice—more focus and energy on building a career and making money at the expense of climbing.

Delayed Adulthood

What is really being discussed here is the concept of delayed adulthood.

Delayed adulthood is a historically recent phenomenon. Adulthood can loosely be defined as a series of transitions into roles including workforce participation, marriage, and even parenthood. By this definition, the transition from adolescence is occurring at later and later ages (see study linked above). 

The Origins of Delayed Adulthood

Some attribute these trends to generational laziness, immaturity, and anxiety brought on by parenting and institutional cultures of safetyism (i.e., what doesn’t kill you makes you weaker). Conversely, others argue that delayed adulthood is a sign of increased rates of college education and an economy that limits well-paying jobs necessary for adulthood stability. The authors concede that the latter explanation is particularly true for those at the bottom of the socioeconomic ladder, but perhaps less convincing for those from more privileged backgrounds. Furthermore, with an unemployment rate at nearly all-time lows, it could be argued that the origins of many (but not all) aspects of delayed adulthood are more cultural than economic.

For instance, the great expansion of the gig economy and vast service sector is undoubtedly a sign of global economic prosperity. An abundance of discretionary dollars in our economy is necessary to support nearly any career in the outdoor industry: guides, coaches, trainers, and even gym employees.  Growth in the service sector has increased for decades at a rate outpacing population growth (US population growth is on the cusp of a declining trend).

The trend in delayed adulthood can be partially summarized as one so typical and understandable of the human social experience: we do what others around us do. If we are surrounded by those who place a high degree of importance on traditional social values (career, marriage, home ownership, etc.), we are more likely to do the same. Conversely, if many in our social circle embrace prolonged periods of frugal travel and globetrotting, we may find more acceptance in following a similar path.

Delayed Adulthood Through Job Grazing

The good news is that we have a lot of choices to make money. Willfully bouncing from various—and generally low skill—forms of employment is something I’ve termed job grazing. The bad news? I’d argue we are more likely to jump from shiny thing to shiny thing, missing the opportunity to build lasting contentment through commitment and career capital.

I borrow the term career capital from Cal Newport, who first introduced the concept in his book, So Good They Can’t Ignore You.

Career capital is the accumulation of rare and valuable skills that can be used as leverage in building your career and your ideal lifestyle. These pursuits need not be mutually exclusive.

It’s now relatively easier to make enough money to “get by” through job grazing. As such, more and more young people pursue a bare-bones approach to work. Instead of building a career, recreational pursuits are increasingly prioritized. Underlying this approach is the implicit assumption that the time to capitalize on passionate pursuits is in our youth. Again, this is a historically recent phenomenon that can only exist in a world where basic needs are easily met.

Let’s examine some of the potential misperceptions and pitfalls of this approach: 

Myth #1: We can only have fun and perform physically in our youth

Mark Anderson is known for climbing 5.14d at age 39. At the time, he was working a full-time job and was helping to raise two young children with his wife. Below is an excerpt on climbing performance as we age from the link above (listen to our podcast discussion here):

I’m a couple NUMBER grades better at climbing than I was in my early 20s. Do we have this backwards? …Should we be delaying dirtbagging instead of delaying working?

Mark Anderson

Speaking for myself, I’ve continued to improve in all aspects of my climbing each year since I began at age 26. I’m now 38, and the only aspect of my climbing that has changed is the need for a 15-minute full-body warm-up at home. Personally, I’m grateful I didn’t quit my job when I was a 5.10 climber. I have far more to enjoy now, and I’ve learned much in the way of balancing climbing with other interests and relationships.

This week I’ve been climbing with a 58-year-old 5.13 climber who began climbing at the baby-faced age of 36.

For those in your twenties who fear a physical decline on the horizon…well, don’t. A decline will come, but it may be far more than a decade away and less pronounced than expected.

Myth #2: We can catch up later on building a career

It really would be nice if we could just get a bachelor’s degree and walk straight into our dream job.

In truth, career capital is built and earned by far more than a college degree. Most entry-level jobs are frankly hard and often demoralizing. The first three or so years of my career were defined as follows:

• the lowest pay
• the longest hours
• the most boredom
• the least autonomy
• the least impactful assignments
• the fewest vacation days.

To improve this situation, it took more than time. It took intention: clear communication of career goals and dedication toward building specific and relevant skill sets. As a geologist, I might have loved crystals and fossils (I didn’t). But a company paying the bills with oil wells cared little about those passions. Therefore, one must marry skill sets with the needs of an employer or a customer base. Generating a skill set that is novel and useful will grow career capital substantially.

Perhaps most importantly, relationships within organizations (i.e., soft skills) must be cultivated and strengthened in a way that doesn’t stink of rank BS. Building career relationships is a delicate art. Leaning too hard on others for self-benefit is as easy to spot as Lebron James in a pygmy tribe.

Waiting to embrace a career later in life won’t provide a bypass to undesirable entry-level experiences. Scarce shortcuts exist to building a fulfilling career; one that involves meaningful work and the freedom and autonomy to pursue outside interests and relationships. My recommendation is to start building this foundation sooner rather than later.

I have no issue with gap years. I even encourage them! That said, I’d watch the extent of the plural form on “years.”

Myth #3: We can catch up later on saving for retirement

This important fact is rarely taught in schools or by our friends or family: saving for retirement in the United States is the responsibility of the individual. Pensions are an endangered species and social security is not enough. The good news is that we can often do better on our own anyway.

If saving money is hard now, it won’t be any easier later. I’m reminded of the post Retirement? Don’t Worry, I’ll Be Fine.

The two biggest obstacles to catching up on financial security are as follows:

1. Lifestyle Inflation

Getting a better job one day might mean higher pay. That said, many will simply raise their spending in stride. This extraordinarily common process of rising income and spending is known as lifestyle inflation.

I’ve been frugal for my entire adult life. But I’ll be damned if I didn’t start enjoying some more nights on the town upon receipt of those early real-job paychecks. Here’s a promise: making more money will result in spending more money. And this isn’t necessarily a bad thing; I’m all for value spending, whereby we spend freely on things and experiences that meaningfully heighten joy or reduce pain.

The problem is one of hedonic adaptation: we slowly become accustomed to more and more spending as we coincidentally justify said changes in behavior. We are master self-manipulators.

2. Compounding Takes Time

We’ve discussed the wondrous and fantastic power of compound growth. If we want to effectively build wealth to enable any sort of financial freedom (you are free to define this term), we must put our money in some sort of compounding asset class.

Let’s envision our net worth as a pot of rich, mid-winter stew. We can think of our cash contributions as the ingredients. Perhaps the carrots and onions are edible uncooked, much like cash is useful in the raw. But to cook something worth sharing on a cold winter day, we need some fire. And that fire, my friend, is compound growth. With this metaphorical fire, and a bit of time, we can compound the flavors into something infinitely more interesting and satisfying than the raw components alone.

Let’s take this theme a little further. I can take a tough piece of meat, char it under intense heat for a short time, and produce it as something edible. Not desirable, but edible. For that meat to fall off the bone and melt in the mouth, however, we must greatly increase the time and decrease the intensity of the cooking process. Building wealth works the same way: little by little over a long duration.

Are we good on the food analogies?

The point is simple: Building sustainable wealth is a long game. The longer one waits to begin the process, the worse the results. And with poor results come greater future financial stress. 

Summary of Delayed Adulthood

A combination of economic and cultural influences are propelling the trend of delayed adulthood. Through low-commitment job grazing, one can pursue recreational pursuits into the years previously occupied by traditional adult responsibilities: marriage, careers, parenting, and even home ownership.

The downside is that we often misforecast our future abilities or experiences in several ways:

1. Our physical abilities might be better than expected as age.
2. Building a meaningful career takes time and often involves a high barrier to entry. Sufficient career capital can provide a fulfilling balance between work and other interests.
3. Building wealth sufficient for long-term financial stability also takes time and the ability to save.

With a pinch of hindsight, here are my learnings:

1. Find a career that is enjoyable and is compatible with other life interests. This need not be a dream job. In fact, many entry-level jobs are anything but a dream.
2. Focus on building career capital to enable more freedom, autonomy, and meaningful work. Leverage freedom and autonomy to spend more time doing things you love with people you love.
3. Save and invest your pennies. With time and a hefty dose of luck, one can gain ultimate freedom and autonomy.
4. A gap year or two is perfectly acceptable. Try not to let this turn into a gap decade.

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