I've already decided that this year (2010) will be the year of my freedom. In order to do that though, I need to define what freedom means to me and what are measurable metrics to achieve it so here goes...
- Location Freedom -- The ability to work from anywhere and not be tied to one location
- Financial Freedom -- Earning enough money to easily pay my bills and be able to put a good chunk aside to begin paying back my debt
- Time Freedom -- Being able to work whenever I want and not have to be in the office from 9am sharp to 5pm everyday
- IT Freedom -- At least partially getting out of the IT industry, which I dislike being a part of
- Location Freedom -- Being able to work from anywhere as long as there is an internet connection. This means not having an office that I have to regularly visit. Having to visit an office once a month would be fine if I am still doing a full time job or client visits are also fine a couple times a month but I should not have to be at a physical location more than 3 times a month at most.
- Financial Freedom -- Earning at least $150k pretax if I'm working full-time or $80k pretax if I'm working for myself only.
- Time Freedom -- The ability to set my own hours and work when I want. Specifically, no starting work at 9am and ending at 5pm. I want the to be able to work when I'm most productive instead of when someone else thinks I should. I want to set my own schedule.
- IT Freedom -- Spending no more than 10% of my time on IT related jobs (system engineering, break/fix issues, etc). More specifically, having my "full-time pursuit" something not IT related. Having my own IT company on the side is permissible as long as I don't spend more than 10% of my time working on it.
Worst-Case Freedom Scenario:
I have quit my full-time job at Mi**S**** (I hate that I can't mention them for fear of being fired). I am work remotely for a full time position that expects me to meet with them physically once a month. They pay me $60k at least and don't care when I work as long as I meet deadlines. This position may be IT related I guess. I have moved somewhere that isn't more than $1500/month for me. I pay out at least $1000 towards my debt while still living comfortably. I am still working on my own company in the background.
Best-Case Freedom Scenario:
I have quit my full-time job at Mi**S****. I work full-time for my own company, which is cash flow positive and earning me $200k/year. I am able to work from anywhere. I'm at about the half-way mark paying off my debt. I have given up my IT company. I am not bound to the 9 to 5 hours of most.
The worst-case scenario doesn't seem that far out of reach.
And when I do accomplish get there, I'll shout for all to hear the great words of Martin Luther King (though he meant it in a different context):
"Free at last, free at last, thank god almighty I'm free at last!"
God speed man. I think some of your wants/needs are counter intuitive, but you're determined enough to set yourself up somehow that you could work those hours/location. This coming from someone who just moved across the country to live in a farming area and look for a job involving alcohol... live your dream!
Ryan, if my counter-intuitive, you mean contrary to each other (ie more money but more free time) then I'm totally with you on that. I have no problem working long hours (more than 40). I just don't want to be held to pointless hours (having to be in the office at 9am just for the sake of being there and not because something has to be done before/at 9). Thanks for the good wishes though!
Let me give you some advice. I achieved all of your so called dreams in about a year and I bought two houses that are paid for to boot. 1) pay off all of your debt first, when you are ordering that 12 dollar drink think about how much you'll appreciate it a year from now. Then think about being debt free a year from now. 2) Ditch anyone who is costing you money in any way,see who hangs around when you start cutting back on your "fun" spending. my father had a great saying he said the only friends he needed were Ben Franklin, Ulysses Grant and Andrew Jackson 3) Never quit your day job till you have projects, and clients to replace it.I stopped working for people many years ago and have never looked back. 4) and last, when things are great save save save because things never STAY great. Hope this is helpful.
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