"I really just want to quit my job and travel the world for 1-2 months and come back with a fresh head": Confused and lost, and unsure what next steps should be financially and life over all. How can I break out of this loop and find happiness and purpose?

Hi Money Minder!

Hey there, I’m currently 26 and just graduated with a math and Econ degree from a t-20 school. I’ve been working hard since I was 16, saving every penny along the way. During college, I worked part-time at a car dealership, and my manager offered me a full-time position after I graduated. Right now, I’ve got about $148,000 in cash, $6,000 in a Roth IRA, and $1,000 invested. The rest is sitting in a high yield savings account with 5% APY. I do have student loans totaling $15,000 at 2.7% APY, but instead of paying them off, I’m keeping my money in my high yield savings account until interest rates drop lower. But here’s the thing – I’m feeling burnt out, depressed, and just lost in life. I want to quit my current job and travel the world for a bit to clear my head. I’m also considering going back to school once I gain some real work experience. Every day feels like a repeat, and it’s not the life I envisioned for myself. I grew up with a single mom in a high-cost city, and I’ve had to hustle for everything. Maybe it’s trauma that’s holding me back, but I’m not sure what to do. I feel like I need permission to use my own money and make a change, but with my current income of $50,000, it’s not enough to build the life I want, especially in this HCOL area. I know I’ll take a financial hit, but I’m at a breaking point. This isn’t living. The job market is tough, and I see my friends struggling, so I’m grateful for the income I have. But I’m so unhappy. This isn’t what I studied for, you know?

Firstly, congratulations on your recent graduation and the degree you have achieved. I am sorry to hear that you are feeling burnt out, depressed, and confused about your next steps in life. Your dedication to saving and your frugality are commendable, but it seems like it has taken a toll on your mental health and overall well-being. It’s understandable to feel unmotivated when faced with the uncertainty of career choices and the daily grind.

Considering your current financial situation and the desire to take a break to travel and clear your mind, here is a realistic and practical approach you may want to consider. Since you have savings and a high yield savings account, you have a buffer to support you during your travel plans. However, it’s essential to think about the sustainability of your finances in the long term.

Perhaps, taking a short-term break to travel for 1-2 months could provide you with the mental rejuvenation you need. During this time, you might gain clarity about your career goals and what you truly want to pursue. It could also be an opportunity to reflect on your life choices and evaluate your priorities.

Upon returning from your trip, you could start exploring job opportunities in your field of study. While the job market may seem daunting, leveraging your education, experience, and connections from your current job could help you secure a position that aligns with your career aspirations. Additionally, gaining some real work experience might give you the confidence to make informed decisions about going back to school in the future.

It’s essential to address your feelings of unhappiness and lack of motivation by taking proactive steps towards a more fulfilling life. It’s okay to feel unsure about the future, but taking small steps towards change can lead to significant transformations. Remember that you have the power to shape your path and make choices that align with your values and goals.