Skimm Money: Are we in our “post-ambition” era?

Are we in our “post-ambition” era?

Rewind to a decade ago, and women were hustling, “leaning in,” and girlbossing — with the millennial-pink power suits to prove we were ready to shatter some ceilings. Today? We’re searching for “dumb jobs” and fauxductivity is on the rise.

We all know what happened: The pandemic burnout train hit hard. Working, living, and homeschooling within the same four walls had a lot of us reaching a breaking point. And just when we thought we had a chance to take back some control of our lives, companies decided to backpedal on all those accommodations that made working and living more seamless. Remote work? A distant memory. Flexibility to leave early for your kid’s soccer game? Not without some side-eye. Instead, businesses are mandating five days in the office (looking at you, Amazon) while laying people off left and right.

Dig a little deeper, and employees gravitating toward “easy work” isn’t a reflection on us or our ambition, drive, and sense of purpose with our jobs — it’s that we’re sick and tired of climbing an old-school corporate ladder that leads nowhere. Proof: Women are creating new businesses at a record rate, the OverEmployedWomen thread on Reddit is buzzing, and more folks are going after their “FIRE” financial goals. Ambition no longer means pursuing a certain title or number on a paycheck, but making your job (or “portfolio career”) work for you. In fact, we’ve never felt more driven to go after what we want — and trash anything that’s holding us back. 

— “Not leaning in, just living,” Skimm Money Team

PS: Today is the first edition of your new Skimm Money newsletter. We hope you love it. (Ask your friends to subscribe, too, so you can get smarter together.)

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Q: My partner and I are employed parents in our mid-30s. We have about $300k combined in our 401(k)s. We have no debt aside from our mortgage, and about two months’ worth of expenses in our savings. We’ve always wanted to take our kids (who are 6 and 4) to Disney but realize that could easily cost more than $10,000. I worry that they’ll miss the magic-age window for this trip if we wait any longer. What should we do? 

— Bibbidi, Bobbidi, Feeling Broke

FEATURED EXPERT:

Heather Boneparth

Lawyer and cocreator of The Joint Account, a newsletter helping couples talk better about money

First, l have to acknowledge that my husband and I grew up loving all things Disney and have brought our young daughters there, so, I get it. Taking your kids to “the happiest place on earth” is an opportunity to create wonderful memories, but it could end up costing at least as much as a week in Europe.

You’re on the right money track: You’ve paid down your consumer debt, got some emergency savings, and you’re planning for the future. However, having at least three-to-six months of your living expenses in cash should come before almost anything else, especially when you’ve got the added cost of raising young kids. Is going to Disney right now more important than bulking up your savings for another year? That’s not a rhetorical question. 

While there’s no magic spell to slash Disney’s high prices, there are a few tricks you can utilize to make the total cost a bit more affordable. For example, staying at a hotel outside of the park, visiting during off-peak seasons, or bringing your own snacks can help you save. Finally, as a certified Disney Adult, I can assure you that the perfect age window is infinite.

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Clue: A way of saying how much wealth you have. It’s the money and stuff you own, like your savings account, car, or home (assets), minus the money you owe, like student loans or a mortgage (liabilities).

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Clue: The amount you’re expected to pay out-of-pocket for covered medical expenses, after your insurance deductible has been met. It’s often listed as a percentage within your plan’s details.

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Clue: An acronym for a company that finances, owns, or manages income-generating properties using pooled money from investors. Investing in this type of company is a way to add real estate to your portfolio with less individual financial risk. It’s often considered an “alternative investment.”

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