Is It Best To Take The Safe Path?

One of my favorite professional cyclists retired at the end of 2016.  Had this blog existed then I would have written about it at the time since her story relates to career and finances.  Alas, I’m doing it now. 

Evelyn, or “Evie”, Stevens was no ordinary cyclist.  She was a Dartmouth graduate working at Lehman Brothers on Wall Street in 2007 when she serendipitously discovered the magical world of bikes through her sister.  She soon did her first race and beat all of the professionals – by 4 minutes. 

On the surface she had it all at the time, an Ivy League education and a high paying Wall Street job.  But Stevens had other things in mind.  She quit her job to pursue cycling. 

Stevens quickly signed a professional contract in 2008, gave all of her possessions away, and was racing against the best woman in the world.  She went on to win numerous U.S. championships, compete in the 2012 and 2016 Olympics, and to beat the high mark in the most brutal event in cycling, the one hour record. 

She tells the story here in a quick 2 minute excerpt for NBC Sports prior to the 2012 Olympics:

 

 

My favorite line from that video is:

I’d be in these conference rooms, and they were always at the top of a building. And it was all glass…. and it’d be a beautiful day. And I just remember thinking “I wish I could just, fly out of here”

As a person who loves the outdoors and hates working under florescent lights, I feel a kinship with Evie.  I’ve uttered statements like that for over 20 years!  Except I never got to work in all-glass conference rooms at the tops of buildings in New York.  I’m sure that would be a novelty for about a week, then wear off quickly.

The funny thing is she initially only planned on taking a year off to “mess around”.  What started as a possible sabbatical or “mental health year” became a successful career in something completely different from investment banking.

Sure, the fact that Stevens found herself to be a genetically gifted cyclist obviously helped in the matter.  But the fact remains she did something that goes strongly against the norms of society.  She gave up a lucrative and sure-tracked career in what’s regarded as a prestigious line of work – to race bikes. 

The latter, especially for professional women, is not exactly highly regarded in the sporting world in America and notoriously pays practically nothing. 

I currently ride with a former female pro cyclist who was on numerous teams with Olympians.  She didn’t even get paid a salary.  All she got in her contract was her travel, hotels, and food paid for when racing out of town.

 

Playing It Safe

Is It Best To Take The Safe Path?

Stevens In Action

Evie’s story always reminds me of what I might not be doing that I perhaps should.  I’ve been working in my industry for more than 28 years and still do part time.  I even held a second job in it for 17 years that recently ended.  It’s what I went to school for and what I became good at.

But did I follow the safe path?  What other paths did I forgo in pursuit of security, safety, and a steady paycheck?  Only now in my 40’s am I digging deeper into passions I’ve had for a long time.  Like writing on this blog and creating graphic arts

I’m not as talented at those things as Evie was at racing bikes, but that’s not the point.  Stevens’ story makes me question whether or not I should have pursued other things when I was younger. 

In another interview Stevens said this of leaving her Wall Street job to pursue cycling: 

I just felt this itch to go out and see the world and challenge myself.  A part of me was questioning … am I on the traditional path because that’s what I want?  Or is that the path that I somehow jumped on?  When I started riding, I just felt so free. And I thought, “I’m loving cycling. I might as well go for it.”

Reading that makes me envious of her.  “I just felt so free”…. “I might as well go for it.”

I only wish I had the courage to do that when I was younger.  Some might consider what she did foolish or reckless.  To me she’s nothing if not brave.

Stevens shows it’s best to sometimes just go for it in life.  I feel weird passing that advice on from her since, in my career at least, I didn’t really do that.  Sure, I went into a profession I loved and did well.  But over my working career there were so many times that I wanted to pursue something else. 

Turns out that “just going for it” isn’t in my blood. 

I’m now pursuing the “safe entrepreneurship” path.  That means taking business risks after I’m already financially independent, when I’ve conveniently eliminated most of the risk.  

Where’s Evie now?  She was always a bit private and averse to social media, so I couldn’t find out where she has landed.  Before she retired she stated her desire to get back into finance or business. 

Hopefully the big Wall Street firms would recognize her tenacity, risk-taking, and discipline over the fact that she has a 10-year gap in her investment banking resume.  Or maybe they won’t. 

If I were a hiring manager and Evie applied, I’d take her in a second. Because she obviously has that intangible “thing” that makes people successful. 

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Dave @ Accidental FIRE

I reached financial independence and semi-retired in my mid-40's through hard work, smart living, and investing. This blog chronicles my journey and explores many aspects of personal finance including the psychological and behavioral factors that drive our habits.

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44 Responses

  1. xrayvsn says:

    That is a fascinating story and even more impressive since even though she was at the top of her new-found profession she was compensated far less than if she stayed on the safe path she had been on.

    Some people are wired differently (and often in a good way like this case) and monetary things and prestigious titles mean nothing. Just enjoying what you do trumps all.

  2. i’ll bet she didn’t have the big 3 i think you ought to avoid for freedom as a younger person: kids, house payment, expensive car payment. i had a gravy job at an r+d center that was very stable when i first met my new orleans friends. first, i went to rio de janiero and bolivia with some buddies and shortly thereafter went for it. my coworkers thought i was crazy to leave that good job but those 2 years in nola changed my life. i kinda knew it would be a career killer or at least a setback but i don’t/didn’t care. big deal if i never had a career and only had “jobs.” those couple of years were pure gold.

    then i got all responsible and boring after age 35.

    • Dave @ Accidental FIRE says:

      She def didn’t have kids or a house, don’t know about the car. But she was young when she did it, maybe 25. You have a higher tolerance for risk than I do, I like the nola story. I wish I’d done something like that. I’ve always been responsible and boring.

      • Liz says:

        Very few people own cars in Manhattan (no space to park and the subway is so much easier) or apartments (especially if you’re younger, it generally makes more financial sense to rent in this market). It’s also uncommon to get married and have kids before your early thirties here.

        We’re generally a very agile and motivated bunch, especially since most of us moved here purely for our career.

  3. That’s a great story. That move was risky, but not that risky because she was planning to mess around for a year. If it didn’t work out, she could go back to work without too much problem. People should take more risk like that when they have a fallback plan. You never know if you’ll be successful or not.

    • Dave @ Accidental FIRE says:

      I actually don’t know how easy it would have been for her to go back right away as she did it in 2009, when all the banks were crashing. That added even more risk. But yes, ya never know

  4. Great story and great points! I’m in a bit of a dilemma myself right now which I plan to write about. It’s such a tough call because I’ve been financially super secure and hated my job, and hardly making any money but working on projects I like, but feeling kind of stressed bout money too. It’s such an individual choice!

  5. Katie Camel says:

    I’ll have to listen to the video after work, but I love her story so far. During my years in New York, I worked on the top floor of several of those towers with 360 degree views of the city. Yes, the views were absolutely stunning, but I never really wanted to trade my time for being there. It’s certainly impressive to work in one of those offices, particularly when hosting clients, but the novelty eventually wears off.

    I pursued my acting dreams while in NYC, but I never met with the success this cyclist did. Nor did I leave a high paying, prestigious career to do so, but it was still worth trying. On the other hand, there are days I think how I’d be probably be FI by now had I not pursued that path so early in life. I don’t regret it, though. Working in those offices would have been exceedingly more difficult had I not tried doing what I loved.

    • Katie Camel says:

      To answer your question, I don’t know that there is a right or wrong answer. Both options offer positive and negative outcomes. I guess it just comes down to which path you prefer – stability or the unknown.

    • Dave @ Accidental FIRE says:

      Cool, an actress! But you took a chance, and that’s awesome. It was probably an incredible time

  6. lifeoutsidethemaze says:

    “I’m now pursuing the “safe entrepreneurship” path. That means taking business risks after I’m already financially independent, when I’ve conveniently eliminated most of the risk.”

    I like this quote from your post. I love taking risks that are well calculated. In other words, risks that are well quantified with a reasonable expected return over time that allow me to live another day. A life without risk is boring as hell but too much risk makes you a gambler. What’s the difference between a gambler and a large pizza? A large pizza can feed a family of four.

    • Dave @ Accidental FIRE says:

      Ha! Pizza for the win. Yes, safe risk is the best kind, when the odds are in your favor or the consequences of failure aren’t bad. That’s my safe space

  7. I do wonder how much my life may have been different if I’d taken the entry level banking job (read: teller) instead of what I’m doing now. I can imagine I would have wanted OUT after not too many years. Even so, I definitely spend more time indoors than is truly my preference.

    • Dave @ Accidental FIRE says:

      Tellers don’t last long, it’s a very repetitive job. I had a girlfriend a long time ago who did it. She grew to hate it. But you were a park ranger for a while, and I’m still super-jelly of that!

  8. Abigail @ipickuppennies.net says:

    I definitely took the safe path, but I don’t mind so much. I don’t love what I do (customer service) but it pays the bills and lets me live a good life. If I tried to make a go of the blog (or even just freelance writing), I’d never know how much money I was going to bring in month to month which would have my nerves shot to hell in no time at all.

    I guess some of us were born to play it safe…

    • Dave @ Accidental FIRE says:

      Inconsistent income was always a fear of mine as well. With no safety net it terrified me.

  9. I love these types of stories but for the few that succeed at pursuing their passions I am certain there are also many that fail. To follow the ‘riskier’ path you have to accept the possibility of failure, but I also think it might be easier to try something when you know you have skills to fall back on. This cyclist was already successful. If her cycling career didn’t work out she had a high paying career to fall back on. Perhaps it is easier to jump when you know you have a safe landing space to return to.

  10. route2fi says:

    Great story!!! 😃

  11. For most people it’s probably advisable to take the safe path. The chance of success in careers like sports and media is very low. That being said, I have a friend who just left a high-paying corporate job to pursue an acting career. If you choose the riskier path, however, you should set a limit for example how much time and money you’re willing to lose before calling it quits on your venture.

    • Dave @ Accidental FIRE says:

      Yes, knowing what you’re willing to lose and stopping there is important, like gambling.

  12. MsFISeeker says:

    I’m like you and pursuing the “safe path”. I’m going to keep my full time job in tech and pursue entrepreneurship on the side until I can transition into doing that full time after building up enough to reach FI

  13. Thought provoking post. Few of us have the courage of Evie to “fly out that window”. I, like you, took the safe path. It paid well, and I was able to fly out the window with my “FI in tow” at Age 55. I’m now free to pursue my Passions, without ever having to worry about $$. For me, I have no regrets in taking the safer route. I’ve always slept well, and I’ll still have years of Freedom in my life.

  14. I just found her on Linked In! She’s worked at KKR Credit in San Francisco for the past 2 1/2 years. Looks like she jumped back into that window .

    • Dave @ Accidental FIRE says:

      Cool, I just looked and found her too, THANKS for doing that Fritz! It makes me happy to see that she was able to land back in the industry. And keep on posting adventures from your trip!

  15. DenverOutdoorsGal says:

    Definitely nothing wrong with staying on course. Safe, calculated risks for me as well. 3.5 years till I’m eligible for employer sponsored medical/dental/drug benefits under group rate discount vs. ACA or other plans. The goal post is so close. I want to hike the entire El Camino (31 days) with unlimited time off.

    • Dave @ Accidental FIRE says:

      That healthcare benefit is huge, probably worth the extra time at work for sure. And the El Camino is on my bucket list too!

  16. I just went for it… my FIRE stash isn’t big enough for both my wife and I. We need a little bit of income but I needed to make the change. It is tough, we have less and can’t buy things like we want….BUT we are happy and that is what matters.

    Great relevant story, thanks for sharing this Dave.

  17. Mr. Tako says:

    Cool success story Dave. Outliers always look pretty great after the fact, but I bet *most* of the people who “risk it all” don’t realize that same level of success.

    It’s a bit like survivor-ship bias. By only looking at the success stories you miss the incredible number of failures.

  18. Dr. McFrugal says:

    Thanks for sharing her story. So fascinating.

    I do think it is best to take the safe path. After all, something like 90% of businesses fail (or something like that). It’s a tough life to be an entrepreneur. I’ve been listening to the How I Built This podcast and always inspired. But I also realize that these people are one in a thousand (or million). Immense success is so rare.

    While only somewhat related, the thought of taking the safe path and wondering if it is better than “following your passions” reminds me of a Rich Roll Podcast where he interviewed the Brad Stulberg and Steve Magness, the authors of the book “The Paradox of Passion”. Interesting conversation if you want to check it out.

    • Dave @ Accidental FIRE says:

      I listen to RR and heard that one, it was good. Also Cal Newport has a great talk online about how following your passion is bad advice and has good reasons. It is an interesting topic for sure.

  19. Dave – I’m more the risk-adverse type so I enjoy the safer path. However, I also never had the calling like Evie Stevens. I’ve never experienced the urge to say let’s get out of this glass conference room forever to do something else. There might be days when I didn’t want to be in the office but that feeling lasted only for a short while.

    I think if you have the calling and passion, you need to go for it (whatever it is). But Evie is probably at a different place as well. Her calling requires great physical shape so she couldn’t really delay. If someone has a calling to do something that doesn’t pay well, maybe that person should hold off a bit in order to build a financial nest egg first.

  20. Doc G says:

    Like you. I played it safe. Thankfully, we are still young. Our front loading will provide us decades to pursue our passions. Unlike Evie, there wasn’t a physical necessity of doing it young.

  21. GenX FIRE says:

    There is something else here. In my case I had no plan. I just fumbled around for a few years after my time in the service. I had offers when I was leaving active duty to do some work in classified facilities, but that work would mean a guarded life far from my friends and family back in NY. Further in my case one of my dreams was to live the life in NYC drinking and such as a single man. Frivolous, I guess, but on the other hand, looking back now past 40, those 7 years were both fun and difficult. They are what I wanted. They had no financial value, but they do have deathbed value. That is to say, looking back from my deathbed I would be glad I did it, as I still feel now. Had I not spent and drank as I did then, I would be much closer to FIRE now.

    That all being said, I also had no direction as to what to do next. It took a long time to figure out that FIRE was my next plan, and what I needed. In hind sight, that’s what I always wanted, enough money to have the time to do the things I wanted to do. The lesson I will teach my son is to decide for himself what he really wants. That’s the key thing.

    • Dave @ Accidental FIRE says:

      I did the “drinking and single man” thing waaaaay longer than you 🙂 Oh well, I’m in a much better place now!

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