The price of ‘doing it all’: Women rethink wealth and success

Life has become a balancing act of making sure demanding careers, businesses, children, ageing parents, and household responsibilities are taken care of, making  “doing it all” more an expectation than an achievement.

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However, what happens when carrying everything comes at the expense of well-being, relationships, career sustainability, and even future earning potential?

The sandwich generation

Women are increasingly shaping conversations around success and redefining what it looks like. They are encouraged to advance in their careers, build wealth and start or manage families, often while juggling multiple responsibilities.

For many women, doing it all has become the norm. Some belong to the sandwich generation, caring for both their ageing parents and their children while pursuing demanding careers and working towards financial security.

But what does this juggling act cost them, and how does it affect their well-being, relationships and long-term financial goals?

The burnout of it all

There is growing recognition that constantly doing more comes at a cost, which is burnout. The paradox is that doing it all can help a woman get far, but at the same time, affect the very aspects of life she needs to do it all. 

Burnout can affect health and well-being, relationships, career choices, and, ultimately, a woman’s ability to continue earning and building the life she wants.

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Strategic choices

Now, some women’s financial decisions are centred around how their finances cater to their well-being rather than others. For example, a woman may decide that a less demanding job is worth more than a higher salary if it gives her greater flexibility and protects her well-being. 

Another woman can decide on a highly demanding job and spend all her money outsourcing household tasks, delegating responsibilities, or using technology to make life easier for more time to rest after work. 

This is not women compromising; it is women making strategic decisions about what is worth their time, energy, and money.

The wealth that cannot be banked

For women today, conversations about money are integrated with conversations around saving time and energy for their well-being. Financial decisions are increasingly connected to the kind of life women want to build for themselves and their families. What some women define as financial well-being looks way more introspective than just saving and making wise financial decisions. 

Questions such as “does it add value to the life she is trying to create?” are being asked. Paying for convenience, choosing flexibility over status, or making a career decision based on sustainability rather than salary are all part of the true definition of financial well-being.

Featured image: iStock

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