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ADVISE NEEDED! Should I quit my job to monogamously focus?

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Tayler.R

New Contributor
Sep 26, 2021
2
2
11
I think I am very lucky to be in this position, but I have got many doubts about if I should quit my job.

I am 32 years old,

9-5 job:
  • $170K / year gross salary
Productive assets:
  • $1.2M in stocks (current market value).
    • Netting in average ~$2450 in dividends per month (net)
  • I co-own a 3 years old company.
    • My part of the current profits is ~$12K gross / month (this has been the average the last 4 months) so I could also use some of this to live (though we want to reinvest)
Expenses and savings:
  • Current expenses: $3000/month(it will probably increase in the future with kids)
  • 12 months of current expenses in savings


Why am I considering quitting my 9-5 job?
  • Lately I don’t care at all about the work I do here. So I am in a loop of no passion, no effort, no results, that leads to stress.
  • I could focus 100% in what I like to do today. Trying to scale the business. Maybe even starting a new one. I don’t think I am missing the time today to do any of that, but I am missing to be able to monogamously focus, and I feel I would be able to achieve much more if I could just do that
  • I think I want to avoid potential regrets of not having given it all when I had the chance
  • I think I have got a safety net, and that the worst thing that could happen is that I would need to find another job and end up in a worst job/position than today, plus the opportunity cost

Why do I have doubts?
  • I find it difficult to walk away from a job and salary that many people would kill for. Very good pay, and the time is very flexible (honestly, I don’t think anyone would push me to put 40 effective hours/week. Remote working 2-3 days / week helps with that)
  • I feel like I would quit because I am lazy to put the effort to do it all, but that I could keep handling it
  • I am afraid of the opportunity cost that could have walking away from 170K/year that I could invest

I consider myself very ambitious. I want to develop my full potential and have further impact in the world. I think my next level is in the 8 figure businesses and wealth.

What do you guys think? Any external points of view would help.
 

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woken

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Read Millionaire Fastlane
I've Read UNSCRIPTED
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Every thread like this is always getting one question and I’ll be the first to ask it, finally :rofl: :rofl: :rofl:


You want some strangers over the internet to choose if you should quit your job or not?


You’re in a good position financially.
You have something to fall back on in case things don’t work out and maybe you can get your job / similar one back if needed.

What are you waiting for?

Signed,
A stranger on the internet


edit: It’s not like that laziness you’re talking about would magically disappear if you’re doing something else. It’s a bad position to be in, it means you’re comfortable.
You don’t do a lot and get, arguably, a lot.
That habit won’t give you an edge in business.( unless you’re building systems that help exactly with that)
 
Last edited:

Tayler.R

New Contributor
Sep 26, 2021
2
2
11
Every thread like this is always getting one question and I’ll be the first to ask it, finally :rofl: :rofl: :rofl:


You want some strangers over the internet to choose if you should quit your job or not?


You’re in a good position financially.
You have something to fall back on in case things don’t work out and maybe you can get your job / similar one back if needed.

What are you waiting for?

Signed,
A stranger on the internet


edit: It’s not like that laziness you’re talking about would magically disappear if you’re doing something else. It’s a bad position to be in, it means you’re comfortable.
You don’t do a lot and get, arguably, a lot.
That habit won’t give you an edge in business.( unless you’re building systems that help exactly with that)

Thanks for the opinion @woken, I really really appreciate it.

I think I am well aware that it is my decision at the end of the day, but objective fresh points of view from like minded people are always welcomed, and maybe can help me see it from other angles.

It already helped me quite a lot to structure my ideas and write them down here.

More opinions are welcomed!
 

Kevin88660

Gold Contributor
FASTLANE INSIDER
I've Read UNSCRIPTED
Speedway Pass
Feb 8, 2019
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Singapore
I think I am very lucky to be in this position, but I have got many doubts about if I should quit my job.

I am 32 years old,

9-5 job:
  • $170K / year gross salary
Productive assets:
  • $1.2M in stocks(current market value).
    • Netting in average ~$2450 in dividends per month (net)
  • I co-own a 3 years old company.
    • My part of the current profits is ~$12K gross / month (this has been the average the last 4 months) so I could also use some of this to live (though we want to reinvest)
Expenses and savings:
  • Current expenses: $3000/month(it will probably increase in the future with kids)
  • 12 months of current expenses in savings


Why am I considering quitting my 9-5 job?
  • Lately I don’t care at all about the work I do here. So I am in a loop of no passion, no effort, no results, that leads to stress.
  • I could focus 100% in what I like to do today. Trying to scale the business. Maybe even starting a new one. I don’t think I am missing the time today to do any of that, but I am missing to be able to monogamously focus, and I feel I would be able to achieve much more if I could just do that
  • I think I want to avoid potential regrets of not having given it all when I had the chance
  • I think I have got a safety net, and that the worst thing that could happen is that I would need to find another job and end up in a worst job/position than today, plus the opportunity cost

Why do I have doubts?
  • I find it difficult to walk away from a job and salary that many people would kill for. Very good pay, and the time is very flexible (honestly, I don’t think anyone would push me to put 40 effective hours/week. Remote working 2-3 days / week helps with that)
  • I feel like I would quit because I am lazy to put the effort to do it all, but that I could keep handling it
  • I am afraid of the opportunity cost that could have walking away from 170K/year that I could invest

I consider myself very ambitious. I want to develop my full potential and have further impact in the world. I think my next level is in the 8 figure businesses and wealth.

What do you guys think? Any external points of view would help.
How much time are you spending on your current job versus your business? 2-3 days a week sounds pretty too good to lose the fat cheque

If you cant scale your business using the remaining days (quite a lot of time). Doubling the time input doesn't seem to solve the issue.

You have more than enough financial buffer to quit. Quitting is an option, but might not be the most optimal one.

There is always the option to hiring someone to do the work to test your scaling idea first, and quitting is obvious when you are having an issue of not being to fulfill sales orders.
 

WJK

Platinum Contributor
FASTLANE INSIDER
Speedway Pass
Oct 9, 2017
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I think I am very lucky to be in this position, but I have got many doubts about if I should quit my job.

I am 32 years old,

9-5 job:
  • $170K / year gross salary
Productive assets:
  • $1.2M in stocks(current market value).
    • Netting in average ~$2450 in dividends per month (net)
  • I co-own a 3 years old company.
    • My part of the current profits is ~$12K gross / month (this has been the average the last 4 months) so I could also use some of this to live (though we want to reinvest)
Expenses and savings:
  • Current expenses: $3000/month(it will probably increase in the future with kids)
  • 12 months of current expenses in savings


Why am I considering quitting my 9-5 job?
  • Lately I don’t care at all about the work I do here. So I am in a loop of no passion, no effort, no results, that leads to stress.
  • I could focus 100% in what I like to do today. Trying to scale the business. Maybe even starting a new one. I don’t think I am missing the time today to do any of that, but I am missing to be able to monogamously focus, and I feel I would be able to achieve much more if I could just do that
  • I think I want to avoid potential regrets of not having given it all when I had the chance
  • I think I have got a safety net, and that the worst thing that could happen is that I would need to find another job and end up in a worst job/position than today, plus the opportunity cost

Why do I have doubts?
  • I find it difficult to walk away from a job and salary that many people would kill for. Very good pay, and the time is very flexible (honestly, I don’t think anyone would push me to put 40 effective hours/week. Remote working 2-3 days / week helps with that)
  • I feel like I would quit because I am lazy to put the effort to do it all, but that I could keep handling it
  • I am afraid of the opportunity cost that could have walking away from 170K/year that I could invest

I consider myself very ambitious. I want to develop my full potential and have further impact in the world. I think my next level is in the 8 figure businesses and wealth.

What do you guys think? Any external points of view would help.
You sound bored. So, you have some questions to answer before you give your security blanket...

What can you do today -- at this moment -- right now -- to develop your side business while you maintain your current job?

If you quit, how will spend your extra time and attention to grow your business? What's your plan, Sam?

What would you do first? Second? Third...

Can you do any of those steps now within your current situation to test your ideas? If you can't do any of those steps yourself, can you hire someone to try out your ideas?

If I was in your position, I'd be squinting and re-looking at everything before I make any big decisions. I get totally bored too -- even when things are going great. The daily grind wears me down. Once it is up and going, I want to move on to a new challenge. Knowing this about myself, I must find a way to keep my eyes and attention on the current project or business. One thing I've learned in my 45 years in business is this great truth...

YOU MUST OPERATE THE BUSINESS, OR WORK THE JOB, IN ORDER TO RECEIVE THE BENEFITS FROM YOUR SWEAT AND LABOR!

Start-ups and new ideas are fun and sexy. But, the cash flows and associated business benefits are generated from the day-to-day operations -- post the start-up stage. If you chose to run off and start something else, you'll never cash in on your work and investment.
 

AndreP

Bronze Contributor
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Read Millionaire Fastlane
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Jul 30, 2019
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Maybe there is a middle ground?

Working part time and putting the extra hours into the company? This way you divide the risks and, if successful, you can phase out your job.
 

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