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...
Freedom Definitions:
- 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
Freedom Metrics:
- 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!"
