Starting a business takes dedication. Making it successful requires you to “multiply that by infinity,” says billionaire Raising Cane’s co-founder and CEO Todd Graves.

Graves would know: He worked 90-hour weeks at a California oil refinery and fished for salmon in Alaska just to get his Baton Rouge, Louisiana-based chicken finger restaurant chain off the ground in 1996. Nearly three decades later, Raising Cane’s has more than 800 locations worldwide and could finish this year with nearly $5 billion in sales, a spokesperson says.

“I can’t tell you how many 15, 16-hour days I’ve worked in a row,” Graves, 52, tells CNBC Make It. “I had to miss a lot of stuff.”

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At times, Graves worked so much that his wife would bring their two kids to his office for dinner and playtime — after which he’d go back to work, he says. Today, he runs a company reportedly worth billions: Much of his estimated $9.5 billion in net worth is due to his 90% ownership stake in Raising Cane’s, according to Forbes.

As such, he’s still busy — but he’s configured his workload to make time for family and friends anyway, he says. During vacations, for example, he’s occasionally woken up at 4:30 a.m. to work so he could join his family by 11 a.m. and spend the rest of the day with them, he notes.

“I’m as busy as anybody I know, I travel as much as anybody I know, but I can work my schedule where I can make most of the things I need to be at with kids, family or important friends,” says Graves.

Few entrepreneurs expect to have a healthy work-life balance in a business’ early days. That’s not necessarily bad: Trying to balance your work and life can add extra stress to an already-busy schedule, according to Jackie Bowie, a managing partner at financial risk management firm Chatham Financial.

“If you’re doing something that’s really worthwhile to you, and you enjoy it, you just accept that sometimes it’s going to be really hard work and you have to make sacrifices,” Bowie told CNBC’s “My Biggest Lessons” last year.

When Graves opened the restaurant’s first location, he rented an apartment behind the storefront and had a coordinated nap schedule with co-founder Craig Silvey to maintain their long workdays: 8:30 a.m. to 5:30 a.m. the next day, he told the “How I Built This” podcast in 2022.

You need that level of commitment as long as you’re trying to grow your business, Graves says. If you ever become comfortable with your company’s level of success, you can hire people to take some work off your plate, he adds.

That’s easier said than done: The act of delegation can be difficult for anyone used to working long hours or covering a wide range of responsibilities, from CEOs down to first-time managers. Trust the people around you to do their jobs, especially if you hired them — and remember that other people can effectively complete tasks in ways that differ from your approach, career experts recommend.

“It can certainly be tempting to get lost in the details of your team’s work, especially if you enjoy that discipline and genuinely find it interesting,” career expert Amanda Augustine told CNBC Make It in 2017. “However, don’t get so wrapped up in the little details that you neglect your management duties, such as setting the strategy and developing your people, and delay a project because you just can’t let go.”

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Buying a home can feel like an impossible feat as large parts of the world face a housing shortage. This is not the case with Japan though, which is dealing with an oversupply of properties.

As of 2023, Japan had more than 9 million “akiyas” — empty houses — according to government data, with some of these properties going for less than $10,000.

These homes, often abandoned and left empty for decades, are scattered across rural areas and big cities, offering a unique opportunity for buyers with creative ideas.

The rise in the number of abandoned houses in Japan is largely owed to a population crisis, as its fertility rate sinks to a record low of 1.2 births per woman as of 2023. Meanwhile, death rates have surpassed birth rates in Japan, as its elderly population continues to increase.

“The akiya problem has been building for decades, rooted in Japan’s post-war economic boom, which led to a surge in housing construction,” Tetsuya Kaneko, head of research and consultancy at Savills Japan told CNBC Make It.

“The issue became more pronounced in the 1990s with Japan’s economic slowdown, and has worsened with ongoing demographic changes,” said Kaneko.

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Urban migration is another big contributing factor to Japan’s abandoned houses. “As younger generations move to cities for work, rural areas are left with aging populations who may pass away or be unable to maintain their homes,” he added.

Among local people, akiyas are often stigmatized, and even seen as a “burden,” said Kaneko. So, even when family homes are inherited by the children of elderly parents who pass away, many times, the heirs are reluctant to personally use or sell the property, adding more abandoned houses to the market.

Notably, a home that is over 30-year-old “is typically considered old,” said Kaneko, and locals tend to be concerned over things like safety issues, high renovation costs and decay, he explained. Some people even associate these homes with superstition, “believing they might be haunted or bring bad luck.”

Ultimately, “many Japanese [people] look at akiya as depreciating items that are more trouble than they’re worth,” Michael, founder of Japan real estate blog Cheap Houses Japan, told CNBC Make It.

“The cheapest properties are that way for a reason,” he said, whether it is because the location is not desirable, or the cost of renovations are expected to exceed the value of the property.

Japan’s akiyas are gaining the attention of overseas buyers.

“We’ve noticed a rising trend in inquiries from abroad …There has been an increase in interest and [in the] purchases of akiyas,” said Kaneko.

This rise in foreign interest for property in Japan has been driven partly by the pandemic, remote work trends, and shifting lifestyle preferences, said Kaneko.

From young investors to retirees looking for a retreat, “more people are seeking second homes, vacation properties, or renovation projects,” he said.

Take for instance, Anton Wormann. He fell in love with Japan after visiting it during a work trip. Born and raised in Sweden, the 32-year-old had traveled all over the world during his 20s working as a model before relocating to the Asian country in 2018.

“I lived in New York for about two years, and then I was basically all over Europe … so I know how expensive all of these metropolitans are,” Wormann told CNBC Make It. “There’s no way that I could buy a house in any of these places that I’ve ever lived in.”

When he discovered that Japan was selling homes for cheap, he decided to purchase one for himself. Six years later, Wormann owns seven akiyas, and works as a full-time content creator and real estate investor in Japan.

He has completed renovations on three of his properties, and is currently working on finishing up the other four renovations. Today, a property that cost him a total of about $110,000 to purchase and renovate, brings in $11,000 in short-term rental revenue per month.

Wormann says “yes and no.”

Today, his properties are successfully bringing in six-figures in revenue a year, but this wouldn’t have happened if he didn’t put in the time and effort to become properly acquainted with the Japanese culture, language and people, he said.

“You need to create a good community and a good social network in Japan in order to make it successful,” Wormann said. “You cannot come without understanding the culture, without understanding how Japan works, and just throw money at it, because that would be a little bit of a money pit.”

“If you’re trying to blend in and do it in the right way, I think there’s definitely a lot of opportunity, but more so, I think there’s an opportunity to buy cheap real estate to actually utilize [personally],” said Wormann.

Experts echo this sentiment.

“Akiyas can be a good investment for certain groups, particularly hobbyists, DIY renovators or those seeking a quiet countryside retreat,” said Kaneko.

“However, they may not be ideal for institutional investors or those looking for quick or large returns, due to high renovation costs and limited resale potential in some areas,” he said, adding that scalability can also be a limiting factor.

It’s important to expect that costs can be substantial, especially if the house needs major structural work, Kaneko added, and consider that the home-buying process can be complex with the language barrier and the need to navigate local authorities.

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The average age of homebuyers in the U.S. has risen by six years since July 2023 — another sign that younger Americans are being priced out of the market due to escalating ownership costs.

The average age of homebuyers is now 56, up from 49 in 2023, according to the National Association of Realtors’ annual state-of-the-market report released Monday. That’s a historic high, up from an average age in the low-to-mid 40s in the early 2010s.

The median age of first-time buyers also rose from 35 to 38, while the share of first-timers dropped from 32% to 24% of all buyers for the year ending July 2024. That marks the lowest percentage since NAR started tracking the metric in 1981.

“In my two decades in the mortgage business, I’ve never seen a more difficult time for millennials to purchase a home,” says Bob Driscoll, senior vice president and director of residential lending at Massachusetts-based bank Rockland Trust.

That’s largely due to rising homeownership costs, he says. The median U.S. home price is now $435,000, per NAR — up 39% since 2020 — while the average 30-year fixed mortgage rate has more than doubled to over 6% in that time.

High homeownership costs are especially challenging for younger buyers, as many struggle to save for a down payment while juggling student loan debt, high rent prices and lower wages early in their careers. The biggest obstacle to homeownership for younger buyers is saving for a down payment, says Driscoll.

An 18% down payment — the median percentage buyers put down, according to NAR — on a $435,000 home comes to $78,300. That’s a significant expense, nearly matching the annual U.S. median household income of $80,610, per U.S. Census Bureau data.

Younger buyers who can afford down payments are still often outbid by older, wealthier buyers using equity from homes they already own. Without this advantage, younger buyers must “absorb the additional cost out of pocket,” says Driscoll.

Younger buyers are also competing with wealthier all-cash buyers, whose share of home purchases has increased from 20% to 26% in the past year, the study says.

Perhaps unsurprisingly, a quarter of first-time buyers have relied on a gift or loan from a relative or friend to afford a down payment​, the data shows.

“Homebuying for the younger generation is wildly unaffordable,” says Noah Damsky, a chartered financial analyst and principal at Marina Wealth Advisors.

“Saving for a down payment can be challenging without an outsized income, which is evident in the data. And a median income only covers the bare necessities, which is why a higher income or existing wealth is critical to becoming a homeowner.”

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You’ll never be bored in New York or Los Angeles. But living in those cities is often prohibitively expensive.

If you’re looking for a livable city with a lower cost of living that offers a solid work-life balance and abundant recreational opportunities, consider Portland, Maine.

Portland ranked No. 1 on RentCafe’s recent list of the most livable metros in the U.S., which considered 17 different factors across three categories — socioeconomics, location and community, and quality of life — including cost of living, access to entertainment and leisure activities, income growth rate and community involvement.

Portland earned high marks for both quality of life and location and community. The city offers a wide variety of athletic facilities and health-care providers as well as higher education opportunities and high quality food, according to RentCafe.

However, Portland falls short when it comes to cost of living. It costs about 10% more on average to live in Portland compared with the rest of the U.S., RentCafe found, citing the Council for Community and Economic Research’s cost of living index.

Here are the 10 most livable metro areas in the U.S., according to RentCafe:

1. Portland, Maine
2. Lincoln, Nebraska
3. Des Moines, Iowa
4. Minneapolis, Minnesota
5. Ann Arbor, Michigan
6. Milwaukee, Wisconsin
7. Washington, D.C.
8. Pittsburgh
9. Green Bay, Wisconsin
10. Harrisburg, Pennsylvania

RentCafe analyzed 140 U.S. metro areas with populations of at least 300,000 to determine its rankings. Notably, Asheville, North Carolina, initially took the No. 3 spot, but due to the devastating impacts of Hurricane Helene earlier this fall, RentCafe temporarily removed the metro from its rankings. 

After Portland, the next five highest-ranked metros and No. 9′s Green Bay, Wisconsin, are all in the Midwest. 

Cities in this region generally scored highly on cost of living. In Lincoln, Nebraska, for example, residents enjoy a cost of living about 6% lower than the national average, RentCafe found. And in Des Moines, Iowa, expenses are 12% lower, on average, than the rest of the country.

But Portland’s high quality of life may make up for the cost of living and give it an advantage in the overall rankings. There are 36 health-care providers per 10,000 people in Portland, compared with just four in Des Moines and 11 in Minneapolis, according to data RentCafe sourced from CountyHealthRankings.org.

Ultimately, the best place for you to live will come down to your personal preferences, such as if you want to live in a large city or the type of climate you enjoy. It’s also important to take your budget into account and decide if somewhere more expensive is both feasible and worth it.

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I didn’t think about leaving the U.S. to live somewhere else until very recently. 

My father is from Jamaica, so I have always felt a connection to the island, but it wasn’t until a few years ago that I finally visited for the first time. 

I was struck by the joy I felt surrounded by the culture, the food, and so many family members and new friends. This spring, I made the leap and moved with my two youngest kids to Negril, Jamaica.

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Back in the States, I was often ill and had very high blood pressure. Over the last several months, to my surprise and delight, following the example of the vibrant older folks in my community, my stress has lifted and I am so much healthier. 

Overall, I feel like I have a better chance of longevity here. 

Here are the biggest lessons I have learned from the senior citizens in my community:

One of my neighbors, in his mid-to-late 60s, can do a backflip and often climbs trees to pick fruit. He is just one example of the vibrant senior citizens in my area. 

Many people wash their clothes by hand, as I have started to, and hang them on the line. People devote a lot of time to tending their gardens.  

I spend almost all day outside working. I’ve tried doing that in the States, but as soon as the season changes, I go back in and may or may not come out again.

But thanks to the temperate year-round weather here, my veranda “office” is always open.

In hindsight, I feel like the dependence on cars in the U.S. made it harder for me to enjoy nature and the company of other people. 

In North Carolina, so many things are drive-thru, from pharmacies to fast food. By virtue of how my town was designed, everyone was reliant on a vehicle. In the U.S., I drove everywhere, including to take my daughter to daycare, even though it was just up the street.

In my community in Negril, most people walk and use public transportation, especially seniors, to get around and do their errands.

I walk much more since I got here, and I’ll stroll to the store most days. Jamaica is also very hilly and mountainous, so you regularly have to go up inclines. It’s been so positive for my health.

The food here is fantastic, especially the produce. Fruit trees are everywhere, and there is such a variety of fresh vegetables. 

To me, the food in Jamaica tastes different from the food in the U.S. It is not super processed, or overly salty or sweet. I don’t eat traditional fast food here, although there are restaurants that serve it. I prefer to go to a skilled local vendor and try some of their wares. 

You don’t have to go far to find someone selling delicious, healthy and inexpensive food, whether it is freshly caught fish, porridge, lovely cold coconuts, or some of my favorite dishes like jerk chicken, brown stew, bully beef and beef patties.

You will frequently see people, especially older folks, talking, playing dominoes or Ludi, and laughing together. When people aren’t feeling well, neighbors will share their favorite herbal remedies. 

We are often invited to neighborhood gatherings, even as newcomers. On a Sunday, for example, people might go to church, relax, go to the river, do some “bush cooking” — preparing and serving delicious meals outside. It’s a very laid-back atmosphere, and I felt welcome right away. 

I rarely saw anyone in my neighborhood in the States. I knew only about four of my neighbors on the street and I lived in that house for seven years. I would see people in passing and wave, but then we would just go back to our lives. 

It’s odd not to know or talk to your neighbors here. Every time I see a neighbor in Jamaica, we sit and chat. 

I didn’t realize how high-stress and individualistic the culture could be in the United States until we left. I was on autopilot all day, every day.

The pace of island life forced me to slow down, start paying attention to how I felt, and challenged my beliefs of what life should be. Moving shook up my routine, removed me from daily stressors, and allowed me to create a new reality. 

Small changes definitely add up, and getting out of my comfort zone helped me make these new habits stick, for the better.

Tiffany Grant is a financial educator, writer, podcaster and coach. Before she was an entrepreneur, Tiffany was an HR professional. She is the founder and host of ″Money Talk with Tiff,” an Accredited Financial Counselor and holds an MBA from the University of North Carolina at Greensboro.

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