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…
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?