GlowStickGuy
New Contributor
I've been lurking on this site for a little while but finally pulled the trigger to make an account.
A little background:
I am 24 and I work as a an engineer at a large tech company. I've worked there for almost 2 years. In that time I have paid off all my student loans ( around 35k ) and saved up another 30k. I realized I didn't want this engineer life pretty early on (1 month in ). The corporate games along with my future vision of what my life and career would become based on the older coworkers around me gave me an instant urge to get out.
Because of this I worked on a couple projects when I got off work to try to make some money. This included trying to sell a Crockpot Bodybuilding Guide which included different easy weekly meal plans to make along with all their nutritional values. The goal was to guide people through making food as cheap, tasty, and nutritious as possible with little effort. My other other idea was to try to sell giant dinosaur wall decals. They were actually pretty cool but almost impossible to put up without messing it up (unless you had already tried 30 times before like I had haha).
It was difficult to even work on other projects after coming home from my job. I was already mentally exhausted half way through the day let alone by the time I got home. My ideas never gained any traction and I quickly lost motivation.
After that I found and read The Millionaire Fastlane and Unscripted . I devoured them quite quickly and absolutely loved them.
I am now trying to take steps into my life to work toward my ultimate goal of financial freedom but am stuck at a crossroads. I feel like the biggest obstacle to making progress right now is my job. It is absolutely exhausting and sucks the life right out of me.
Many people advocate quitting their 9-5 job to pursue their big ideas while having a side hustle to financially support it. I've heard "Burn the ships" quite frequently and it seems to be a common theme .
I'm already planning on quitting my job in 3 months to get the full 2 years. ( waiting for my 401K to get fully vested and I don't have to pay back the relocation bonus )
Here is my current plan and would like some input:
As I said I have quite a bit of cash to live off of. Monthly expenses at this point are around $1200. Assuming I get health insurance after I quit my job that will go up to around $1600. Total money I should have saved up should by the time I quit is $40k.
That being said there are a couple questions that come up.
Looking around online many people say freelance programming wont get you that much money ( too much outsourced competition ). You will need multiple years of experience in a niche field. I have seen many people recommending copywriting with "only 2 months to learn" .
Another idea I had would be to use some of my savings to purchase a multi room house to live in. This way I could theoretically live in one room and rent out the other ones essentially living rent free while my tenants pay my mortgage. This would give me a place to live for "free" while I work on my ideas. Of course there is a lot of overhead and a lot of time and financial investment with that idea. At this point it doesn't seem like that that would outweigh the benefits of the more hassle free "just renting from someone else and let them worry about the house" strategy while I can completely focus on my ideas.
Thanks for reading everyone! I look forward to meeting you guys and becoming part of the community!
A little background:
I am 24 and I work as a an engineer at a large tech company. I've worked there for almost 2 years. In that time I have paid off all my student loans ( around 35k ) and saved up another 30k. I realized I didn't want this engineer life pretty early on (1 month in ). The corporate games along with my future vision of what my life and career would become based on the older coworkers around me gave me an instant urge to get out.
Because of this I worked on a couple projects when I got off work to try to make some money. This included trying to sell a Crockpot Bodybuilding Guide which included different easy weekly meal plans to make along with all their nutritional values. The goal was to guide people through making food as cheap, tasty, and nutritious as possible with little effort. My other other idea was to try to sell giant dinosaur wall decals. They were actually pretty cool but almost impossible to put up without messing it up (unless you had already tried 30 times before like I had haha).
It was difficult to even work on other projects after coming home from my job. I was already mentally exhausted half way through the day let alone by the time I got home. My ideas never gained any traction and I quickly lost motivation.
After that I found and read The Millionaire Fastlane and Unscripted . I devoured them quite quickly and absolutely loved them.
I am now trying to take steps into my life to work toward my ultimate goal of financial freedom but am stuck at a crossroads. I feel like the biggest obstacle to making progress right now is my job. It is absolutely exhausting and sucks the life right out of me.
Many people advocate quitting their 9-5 job to pursue their big ideas while having a side hustle to financially support it. I've heard "Burn the ships" quite frequently and it seems to be a common theme .
I'm already planning on quitting my job in 3 months to get the full 2 years. ( waiting for my 401K to get fully vested and I don't have to pay back the relocation bonus )
Here is my current plan and would like some input:
- Work on my freelance programming for the next three months
- Quit my job
- Live off savings and minimize expenses while pursuing my ideas
- Freelance program if I need more money
As I said I have quite a bit of cash to live off of. Monthly expenses at this point are around $1200. Assuming I get health insurance after I quit my job that will go up to around $1600. Total money I should have saved up should by the time I quit is $40k.
That being said there are a couple questions that come up.
Looking around online many people say freelance programming wont get you that much money ( too much outsourced competition ). You will need multiple years of experience in a niche field. I have seen many people recommending copywriting with "only 2 months to learn" .
- Would copywriting be a better alternative to programming since this fits more in the "entrepreneurial skills"? Are people using the same argument above with programming saying that you cannot make money in copywriting unless you also have multiple years experience in a niche field ( also too much outsourced competition )?
- Would it be best to look for an easy part time job that offers health insurance? How difficult would that be in the "looming economic depression"?
- Are all these questions and continuation of the job I loathe a consequence of analysis paralysis or even worse action faking?
Another idea I had would be to use some of my savings to purchase a multi room house to live in. This way I could theoretically live in one room and rent out the other ones essentially living rent free while my tenants pay my mortgage. This would give me a place to live for "free" while I work on my ideas. Of course there is a lot of overhead and a lot of time and financial investment with that idea. At this point it doesn't seem like that that would outweigh the benefits of the more hassle free "just renting from someone else and let them worry about the house" strategy while I can completely focus on my ideas.
Thanks for reading everyone! I look forward to meeting you guys and becoming part of the community!
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