I have considered the idea of quitting my day job several times over the past 2 years. The more I see my blogs grow, the more I thought how awesome it would be to quit my job and work online full time. I still believe it would be cool, but I don’t see this happening any time soon. I also mentioned that I would eventually quit my day job in 5 to 10 years in my long term blogging plan. If I had written this post recently, I would probably tell you that I would quit my job within the next 2 years. Why has all of this changed? I’m actually making more money than expected in 2011 and I was just told that I didn’t get the job I was looking for. Doesn’t it sound like 2 reasons to aim for a full time online career? Well, there is more to think about before quitting your job:
As a financial planner, I create asset allocation and investment diversification plans on a daily basis. If you consider that your biggest asset is yourself and that your biggest income earner is from your biggest asset, why wouldn’t you invest yourself in several fields? This is what my blog helps me do at the moment. Last year, I made 135K and about 25% of my income was from my online company. Therefore, I know that even if I lose my job, I will still have a source of income. On top of that, I know I can withdraw much more from my company to compensate for a job loss.
Connections with People
While I really enjoy blogging and I can see myself doing this full time, there is one aspect I’m not sure how to deal with; being alone all day long. While I do have blogging friends and I know I could run a few chats while I am working on the computer, the feel is not the same as meeting in person. One thing I really like about my job is that I get to speak to many different (and very interesting!) people throughout my day. I get to know a lot of people and connect with them. This is something I might find difficult if I have to work in my basement day after day. So quitting my job would mean quitting a part of my social life.
I Really Like my Day Job
I think the key to succeed at work is to love what you do. No matter which field you are working in, if you hate your job, you will definitely not be successful. Just about every morning, I am eager to go to work and do my job. I really like being a financial planner because I think my job is very interesting and gives me a lot of latitude (I make my own schedule, I manage my time at work, I meet whoever I want to meet, etc). So I guess that as long as I really like what I am doing during the day, I won’t be in a hurry to quit my job!
As you have seen over my latest net worth updates, I am currently spending a lot of money and having a hard time saving. Having 2 sources of income is a good way to keep money stress out of my mind. When it doesn’t go as I wish at work, I think about my online company compensating. And when I get hit by a Panda update, I turn around and look how good my numbers at my day job ;-). This is why I don’t stress too much about money.
Finding the Right Balance
In the end, I think that I have found a perfect balance between growing my business and pursuing my career dreams all at the same time. This will have to change one day if I am looking for financial independence. For the moment, I think it is the perfect compromise. Plus, I am definitely at a stage of my life where I am looking to chill out and enjoy life. I’m telling you, life is too short to stress and hate your job! Find the right balance for yourself and your family; this is where lies one of the secrets to happiness!
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