What’s Really Holding You Back? (Hint: It’s Not Your Bank Account)

The Richuel Team
Jun 26
4 min read

Updated: Aug 19

Discover how your financial fears might be the only thing standing between you and your most meaningful next chapter.

What if your financial fears are the only thing standing between you and the career—and life—you truly desire? Take a moment to think about that. If you’ve considered switching careers or faced a layoff, you’re not alone. Many people experience anxiety when they check their bank account.

Did you know that over half of GenX Millennials are planning a career shift this year? Here’s the kicker—70% lack a solid financial plan. That translates to 55 million people experiencing “financial range anxiety.”

Early Money Struggles: Been There, Felt That

Growing up in an immigrant family, money was a taboo topic. My parents worked tirelessly to navigate life in America without a clear roadmap for managing finances. Financial advice was nearly nonexistent.

As a result, I entered adulthood without any money management skills. In the U.S., financial literacy isn't a priority in schools. It’s a luck of the draw whether your parents know how to teach that.

I recall feeling overwhelmed by law school debt and apprehensive about creating a secure future. Like many GenXers, I found myself balancing costs for my boomer parents while also raising kids in a costly economy.

Learning from Mistakes

The good news? We don’t have to repeat our parents' mistakes. Whether you’re starting out or pivoting in your career, you can seize control and secure financial independence.

So, What’s Really Holding You Back?

Let’s get candid. Most of us have limiting beliefs about money or simply feel lost on where to start.

What’s your biggest financial worry?
Are there habits or fears keeping you stuck?

In my earlier years, I felt intimidated by investing. I mistakenly believed I had to be perfect with money first. Spoiler: I was wrong. I made impulsive spending choices and ignored investing for ages. I learned the hard way that consistent, small steps are better than waiting for perfection.

Just Start Building Wealth, Wherever You Are

You don’t need to be a finance expert. Just start with some simple steps:

Get Real About Your Long-Term Finances

Track where you stand financially. Project your net worth and cash flow—both income and expenses. Focus not just on the current month but on your future too. Many people make the mistake of concentrating solely on their short-term budget.

Start Taking Small Positive Steps

Automate Your Savings: Even small amounts accumulate faster than you think.
Learn the Basics of Investing: Knowledge is power and it’s more manageable than it seems.
Explore Side Hustles: Extra income can expedite your progress.

For me, it was a journey of trial and error—smart real estate choices, calculated risks in startups, side hustles, and marrying a partner who excels at saving. Some decisions paid off big while others flopped, but each taught me a valuable lesson and brought me closer to my financial freedom number.

Ever Heard of Coast FIRE? It’s a Game-Changer

Coast FIRE means you’ve saved enough early on so your money grows autonomously to cover retirement. When my husband and I reached that milestone, it felt like a heavy weight had been lifted. I could coast financially and focus on building a business that brought me joy and flexibility. It even empowered me to launch a fintech startup focused on assisting others in their journey.

Curious? You can calculate your Coast FIRE number and start plotting your path to freedom. Check our recent step-by-step guide here.

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Switching Careers? Do It with Confidence

Changing careers can be daunting, especially when finances feel unstable. Concentrate on building skills, networking, and aligning your income with your passions. A financial plan can alleviate anxiety and unveil opportunities you didn’t even know existed.

When I made my career leap, uncertainty and self-doubt loomed large. However, having a financial cushion and a plan transformed my experience. I learned to be adaptable, actively seek mentorship, and commit to continual learning.

Don’t Go It Alone: Use Tools and Find Your Tribe

You don’t have to navigate this path by yourself. Tools like Richuel can help you make smart financial choices tailored to your situation. Additionally, mentors and communities keep you accountable, motivated, and inspired.

Your Next Step? Just One Small Move

You don’t need to have everything figured out today. Every small step toward financial independence and career freedom brings you closer to a life where you are in control.

So, what’s one small financial or career action you can take this week? Start there—and remember, you’re not alone on this journey. Join us here.

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Richuel is an AI-powered digital financial health platform dedicated to helping people navigate career and life shifts with better financial decision support. People often think finance is difficult and time-consuming. With the help of better digital experiences and hybrid AI technology, plus easy and affordable access to human expert support, we’re changing that one daily financial “richuel” at a time.