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You tried that this past spring with little success. Unless you can come up with a new model, working at home and moving easily between selling your time and doing personal things doesn't sound like it comes easily to you. In the past, your answer has been to develop income-producing revenue streams that don't require a lot of attention on your part. Does this post mean that you're rethinking that model, or reaffirming it?
I confess that working at home and moving easily between business and personal activities does come more easily to me, although I likely still suffer from working too many hours in total. It's always been the technologist's penultimate high to be the hero by solving difficult problems, but I was doing it so much that I finally had to cut that cord recently and make a job change. More money, too :) .
But I think I can find something interesting in everything. :)
That is why I am really excited that in two weeks I am starting my new job that is ten minutes away from my house. Now it feels like I am still within the sphere of my family even though I am gone most of the day. Seriously, if my job ever offer to let me work only 6 hours a day, pro-rated pay, I would jump all over it.
But if most of your life revolves around your home area, as mine does, you probably need to be physically closer to home. That's what I experienced last year when I traded a 3-hour round-trip commute for a job 5 miles from home. For me, being away from home only 9 hours a day is a heckuva lot better than 12-13.
BTW - the long commute thing is something that can be addressed.
Certainly most people spend too much time doing career related activities and neglect the parts of life that mean the most in the long-term.
Building on your ideas and the comments of others, I have found a few key things to keep balanced:
1. Find a job you love!
2. Find a job with flexibility - prove yourself and your ability to work well and then arrange flexible work arrangements such as the ability to work at home (I love this part of Tim Ferris' "Four Hour Work Week").
3. Work to develop forms of passive or residual income that allow you to work less while still earning an income. For many a home based business is the idea choice.
It's almost like the next phase rebellion against the gathering of material goods in the finding of your perfect "balance". Sadly, the problem is, if you feel content at having achieved this balance (or blending since I like that term as well), it's likely you've taken enough time to get there that you can't shake the habit of seeking it and likely not be content for long at all.
I strongly disagree with you. You can find the balance at any point of your life. You don't have to take a long time. Find joy in the things you do, be thankful for what you have and continue to do your best.
The balance will change as your life changes, but if you have your values right it will be easier to find balance in each stage of life, even if the balance looks very different.