When Your Job Just Isn’t Doing It For You

bored at workWhat do you do when your job just isn’t doing it for you like it used to?  Don’t get me wrong, I love my main job in a lot of ways, but something is different than it used to be…

Maybe it’s because I’m making more online than ever before (but still not what I make at my job).  Maybe it’s because so many online friends have suddenly made the leap to self-employment (Joe at Retire by 40, Sam from Financial Samurai, Andrea from So Over This, and more than I can remember right now).  Maybe it’s because I have a new boss and we aren’t jiving like my old boss and I did.

Whatever the reason, my job just isn’t doing it for me like it used to.  So what’s the plan?

 

Dealing When You Care Less

The bottom line is that I care less at work than I did a year ago, and I care more about my online ventures than I did a year ago.  But I don’t really plan on changing anything at the moment.  My goal has always been to develop multiple income streams, and a key part of that is getting a salary.  In fact, between my salary and my wife’s salary, that is still a good 70% of our income.

However, I have set some solid goals for myself to see if I ever will actually take the leap to self employment like so many others, and I wanted to share it with you so that it is out there.

 

The Goal – It’s Big

My goal to stop working at my job is to earn $20,000/mo from my online ventures consistently for over 12 months.

I told you it was big…

Why $20,000?

Because just like a regular job move, you’re not going to take another job unless it’s a promotion or pay raise, right?  Well, why would moving to self-employment be any different than that?  Second, if I become self-employed, I would suddenly need to pay out of pocket for a lot of expenses that my employer currently provides:

  • Payroll Taxes
  • Health Insurance
  • Disability Insurance
  • Tuition Reimbursement
  • Retirement Contributions (i.e. matching 401k)

All of these things would add up, so $20,000 would really be netting me around $10,000, which would be a bump up from what I’m making now.

 

So, that’s the plan, and even though my job isn’t doing it for me like it once was, it’s still a great job, and I do love it.  I’ve just found that I like doing other things more…

What are your thoughts?  Have you experienced this before?

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Comments

  1. I thought we just created an informal $8k a month challenge… now, you are getting bigger and bigger. I like the goal. It makes sense to shoot high. What’s your time frame that you are working on?

    • There is no time frame on this one – this is a goal, not a challenge. I’m all about the $8k challenge for 2013. I think it is a great start. My goal has always been multiple incomes, and so if I can hit $20k consistently, I may stop working and become self-employed. Who knows though…

  2. I know how you feel. I’ve been dreaming of different possibilities for myself.

  3. I’m in the same place. My job is good, I’m just starting to lose my passion for it. Unfortunately, my online income is about $0.25/month right now, so I think I’ll have to keep my real job for a while. :)

    • At least you have a good job that allows you do start an online income on the side. Just watch it grow and soon you may want to make a switch because you can!

  4. $20,000 a month will be great Robert! I hope you get there!

    You thinking of buying a Maserati and a house in La Jolla when you do?

  5. That’s a hefty goal, but hey, even if you only hit $15k a month…Oh No!, you’ll still be rollin’ in the cash money!

    Setting goals like that are extremely motivating. I’ve got a “make $1k a month” by 1 year blogoversary. :)

  6. There are times that I also feel the same way about my job. But the bottom line is, my job provides me with the necessary income to pay the things I need to pay to achieve my financial goals. So while I’m still earning on the side, I still chose to keep my job. To be able to let go of my current job, I need to reach a target monthly income which should be more than enough to pay off all my expenses and there should also be a certain percentage to go to my savings & investments. Besides, I have an easy job and get paid a lot of money to do it.. It would be silly for me to give up easy 6 figures :-)

  7. I’ve been there before and I think I rather be poor and happy than wealthy and miserable. It’s just not worth it to me.

    In terms of the post, I thought this was going to answer the question, “[What to do] When Your Job Just Isn’t Doing It For You.” This sounded more like a journal entry though; was it intended for purely discussion?

    • No, purely discussion – I wrote this at a point I was torn. I’ve come a way since then, but still looking for a good answer…

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