Will today be another Groundhog Day?
Lately, I have been inspired by several success stories. I didn’t read about another dotcom mogul on the internet that I barely knew existed. I heard stories from a close relative who succeeded by taking the evil way of entrepreneurship. I’m using the world “evil” as in: if you start your business; you automatically leave the herd and stop being a sheep. If you are not part of the group, it must be because it’s evil, right?
A friend of mine recently started his own business and bought a new house.
A friend of my partner just sold a part of his business for $500K.
My sister-in-law’s neighbor sold his online company for a hefty pile of money.
Guys from my Mastermind group are simply amazing me with their plans.
It all happened at the same time, I heard about these stories one after the other and still, I’m sitting on the sidelines, watching the parade. I guess I’m just waiting to see if my conditions will hurt or not to move. I’ve given some thought about what is good or bad about my day job and the fundamental reasons why I can’t quit. I think I’ve finally found the answer!
Many times in my life I encounter people who invest in certificates of deposit. I once heard in a conference that investment risk wasn’t in the stock market but it was with certificates of deposit. The biggest risk was the fact that you can’t get enough return to sustain your lifestyle at retirement. Since certificates of deposit are fixed, there is no way for you to get a better return.
This is exactly what happens with my guaranteed paycheck. No matter what I do, I have the assurance that I will be receiving my bi-weekly paycheck deposited directly into my account. I don’t really have to worry about how my employer is doing as I know there is a lot of money in the bank account. Therefore, there is no stress to produce enough income to be able to pay myself from my own company’s bank account.
As with the CD investor, I know I’m limited by my potential return, but I’m happy with the meager raise I get each year. The security has a huge cost, but still, you are secured.
When you think about it; is it that bad to have a pension plan? To get a high paycheck every two weeks? To get plenty of side benefits such as insurance, employers stocks, etc? And, most importantly, is it that bad to be paid for a job that you like? What’s wrong with my cubicle? What is wrong with me?
I guess it’s not the end of the world. In fact, it’s a pretty good world by itself! However, the cubicle is still filled with things that suck:
- Corporate BS (you have to drink the Koolaid)
- You are set with a fixed schedule (not much flexibility)
- You are set with fixed vacation
- There are always some stupid annoying rules you can’t deal with
I know from the start that I’m not good with the corporate environment. I enjoy working with my colleagues but the lack of flexibility has always been an issue. It’s not surprising that I had to fight so hard to get my 4 day workweek schedule and that I try by all means to have a flexible schedule. So far, I can’t complain, my employer has been fairly open-minded with this part.
Still… there is something itching in the back of my mind… but as much as I want to work on my own, I am also terrified by the idea of generating my own income. The money won’t be coming from some kind of automated payment system; the money will be coming from my company bank account to my personal bank account. The fear of not producing enough income is terrible. What if I could not sustain my lifestyle? What would happen? These are the fears preventing me from jumping right now.
Have you ever had these fears? How did you deal with them?
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