Growing at the Speed of Failure
Live Life On Your Own Terms
So what is living life on your own terms mean anyway? For me it means doing what you want, when you want and with whom you want. What does that cost? It doesn’t have to be millions a year. It could be $100,000 or even $50,000 in the right situation; no housing cost, low recurring service fees (cable, internet, cell phone, subscriptions), no car payment, no debt. Especially if you are single or a couple without children this should be super easy!
So you’ve lowered expenses, paid off all of your debt, you’ve build a side income through producing something or investing in something that gives you positive income that you can live on every month. What now?
Go from full-time to part-time with your job. Once your income from your investments matches your income from your job and you have at least three months of living expenses in savings, you can decrease your job hours to what seems more comfortable for you. Gage this to your comfort level and your love of your job. Some people would stay at their job even if they weren’t paid since they receive so much fulfillment from it – that’s cool too. That just wasn’t me in my situation. With as much as 80% of the working population unsatisfied with their job to some degree, I’m guessing many people would take this opportunity to drop a dead-end job.
You may think that cutting hours from full to part time is easier said than done. You may believe that it would be difficult or impossible in your case to cut down hours without losing your job completely. I don’t know your situation. How could you find out? Could you see who else at the office/worksite/factory is doing this?
You may be surprised as to how you can begin working more of your work hours out of your home. At the very least, explore this option.
If you are apprehensive about changing anything then stick with the lousy job. If you are attempting to make your move to part time or resigning but it just isn’t uncomfortable enough, make yourself uncomfortable enough to want to quit.
I do have to say that I left my job before doubling my income with my side freelancing. My freelancing gig (making websites) slowed down at that point since I didn’t have access to that extra $3,000 a month. I didn’t want to go into any debt for my business (which I never did for that business) so I waited until the clients paid, then I bought faster computers, better software, DVD duplication towers, office furniture, etc. It just slowed down growth of my freelancing and kept me from making it a business with employees for several more months. Short answer, if you’re not sure, keep your day job until the thought of going in to work in the morning is excruciating.
Return to your dream—take time to do what you love.
Once you have decreased the hours you dedicate each week to your job, you need to fill it with something. Do you want to record an album, make a movie, train for an Ironman triathlon, create your own line of organic perfumes or volunteer more of your time at your favorite nonprofit? Now is your chance. Open up your horizons and finally begin to live life on your terms!
By now I hope you realize that the big picture is to propel yourself into a position in life where you may get what you truly want and to finally live life on your own terms. The fact is that if you are not financially strapped, you experiment with different occupations of your time and find something that you truly enjoy and get paid for it, you will find more fulfillment than merely having the security of an acceptable paycheck from a mediocre job.
If you are diligent and map your moves out, you’ll get there faster than most people you will ever meet – merely because most people never take their life into their own hands – they just lest someone handle their life for them. In a short time, you will become more independent and will live free of debt, with the security that comes from having enough cash in the bank for any need, whim or adventure you wish to partake of. Enjoy the journey!
