Main Points
There's no such thing as a perfect time
Withdraw
People think you are lazy
You see opportunities everywhere
Make more money in less time than when you were working
Make your own rules
Discipline is everything
You have all-time in the world
The American Dream is a lie
The sky is the limit
You learn to learn about yourself
You force yourself to live on the budget
Life is not as complicated as people think
According to Gallup, 85% of workers hate their jobs, but they can't seem to want to quit them so they can do something that brings joy in their lives. In advanced countries (especially in the United States), people must work at least 36 hours per week to be full-time employees. However, many people work 40 hours a week until they are at least 65 years to get the full benefit of retirement.
In the United States, people tend to start working from their teeners until they retire. However, Gallup showed most workers aren't happy with their jobs. Now imagine working at a job you don't like for more than 30years. Let that sink in first. There is nothing wrong with working for others for the rest of your life. However, you should make sure that you are doing something you enjoy. Working on tasks you want would be best because you will never fill like you have worked in your entire life.
Since I was young, I have always wanted to work for myself. I grew up with the same mentality because even when I was in college/university, I knew that I did not want my life to depend on some company. I always felt like being self-employed was the fastest way to win in the financial world. After graduating from Metropolitan State University, I applied for a few jobs, but some rejected me, and others paid too little. I would not take a job that paid $55k a year while the job I had during university was paying me close to $80k per year. Even though it was paying me $80k per year, I had to work close to 70 hours a week while going to school full-time. If you have ever worked and gone to school full-time, you know what I am talking about.
On February 21st, 2021, I quit my job that paid $80k a year and stopped looking for jobs. However, the scariest part was that I had a mortgage and a student loan and just ordered a 2021 model 3 tesla that was supposed to come in the month after in March of 2021. It was probably the most dangerous decision that anyone could ever make. Here are 13 important lessons I've learned from quitting my job
There's no such thing as a perfect time
Most people hate their current jobs. But They cannot quit it and look for another job that makes them feel a whole because they are waiting for the right time. I have wanted to quit my job since 2018, but I could not do it because I always waited for the right time. It took me three years to quit my job because I had been waiting for that perfect moment. However, I realized that people are not waiting for the right time. They are afraid of losing their job security and guaranteed biweekly paycheck. It can be challenging, but when you look at the issue from the outside, you realize that people are not quite the job they hate simply because of the what-ifs.
Withdraw
When I quit my 9 to 5 job, I went through a life withdrawal. It was hard to adjust to the new lifestyle for a few reasons.
First Reason: It was hard to come straight from working almost 70 hours a week to a few hours a day. It took me some time to get used to it. my body had used to the stress from my daily job to calm and less stressful, which was not normal for it
Second Reason: I felt lonely. When I had a regular job, I spent most of my time interacting with co-workers and clients and enjoying my weekends with family and friends. Now, I had to find something to feel that void. Sometimes I couldn't see my friends for more than a week if they decided to work overtime. Even though it was lonely at that time, it was a chance for me to learn about myself and explore the world. But too bad, the world was still under covid-19 travel restrictions.
People think you are lazy
The day I put in my one-week notice, people thought I was crazy and confused. When I handed that notice to my supervisor, I could tell that he felt sorry for me. I remember he said maybe you should talk to the manager to see if there's something she can do for you to stay. I believed he told me to speak to the boss because he thought I was out of mind.
On top of that, family members were confused about what had just happened. When I told them that I would quit my job, they thought I was playing until I broke the news. Some were ok with it, and others were not ok. My mom was very supportive of my decision. But she would say something like you should get a job because what you are doing might not work. It did not bother me much because I knew she was saying it out of love. In the short answer, if you ever choose to live your job, people will definably judge you because you are doing something they taught you can never do.
You see opportunities everywhere
When you quit your job, you see opportunities everywhere. I know some people that quit their jobs and drive uber and Lyft full-time instead. Some make over $100k per year, which is more than they would make from working for others.
When I quit my job, I decided to start my own business, which is how Bako Invest Llc was born. Working for myself is probably the most significant decision I have ever made because there's no limit to how much I can earn. The bigger my clientele will become, the more money I will make as time goes on. Just one year after starting my business, I earned more money than I was making When I had a job. Imagine how much the company will be making in five to ten years.
Earn more money
The best thing about having a job is that your weekly, biweekly, or salary paycheck is guaranteed. However, your paycheck doesn't change much since your value has a fixed price. Let me explain what I meant about your value.
For Instance, When I had a regular job, I was making $27 per hour. This means that the value of one hour of my life was equivalent to $27. To many people, a $27 hourly wage is life-changing money. But I looked and realized that my value was far more than that. I don't know how much I make per hour since I am self-employed. But I know that I make more than double what I was making as an employee.
My point for this section is that if you want to become financially free, you must know your worth first. If you understand your value, you will know which salary wage to accept and not to take.
Make your own rules
It can be inspiring to become your own boss for different reasons
First Reason: The best beautiful thing about being in charge is making your hours. That way, you don't have to wake up at 4 am if you don't want to. However, that might depend on the type of business you are running. Some companies require you to wake up early, but the point is that you don't have to.
The Second Reason: Being your boss is very exciting because you can choose the project to work on. If the project does not excite you, you don't have to do it. It's that simple.
The small companies' downside is that the owner is likely the employee. So technically, the owners of small businesses are employees in their own companies. But remember, every big business you know used to be small.
Discipline is everything
Starting an entrepreneurship journey can be a very exciting to think about it. However, the biggest obstacle can be discipline. When I was working my 9 to 5 job, I had so much time watching TV. But today, I can go for a week or longer without watching a movie. Discipline is the key if you want to have a successful business because, in the end, you are your business. So how much time and seriousness you invest in your company determines its future. Discipline is the number one tool every entrepreneur needs to succeed. So, if you are not disciplined enough, I suggest you stay employed even if an employee requires some discipline.
You have all-time in the world
Having control of time is probably the most important benefit of owning a business. Sometimes, it can be challenging because some clients might want you to change the time to adjust to their schedules, which can mess up your schedule for the whole day. However, you dictate how you want your plan to go for most of the part.
I remember that I couldn't find time to go to the gym or do anything other than work at my latest job. I was working too much and getting paid too little based on how many hours I was putting in. But as a self-employed, I make my schedule and make more money since I make my prices.
The American Dream is a lie
The American dream can have a different meaning depending on the person. In my definition, the American dream is when you have a good job, have a mortgage, are Educated, retire at 65 years old and start collecting your social security benefits. I used to believe that this was how life was supposed to be.
But since I started working for myself, I realized that the American Dream should be financial freedom. Many people believe that having a mortgage is the same as owning a house. Don't get me wrong. I've been to both sides of the aisle. I rented for ten years, and I've been a homeowner for 3.5 years now. I know the good and the bad of both. However, rent is sometimes better than owning because owning a home comes with many responsibilities. My point is don't buy a house unless you know well that you are ready to add to your bills such as water bills, trash, property taxes, and more. Just remember, sometimes less is more.
The sky is the limit
As we discussed in the previous points, you are limited to how much you can earn as an employee. For example, if your job pays you $20 per hour, you can't make more than that. But as self-employed, you can earn as much as you want as long as you are willing to put in time and effort. So, if you want to make more money, starting a business makes more sense.
You learn yourself
As an employee, you don't have much time to think about yourself and what you are capable of. However, the moment you start a business, it is where you begin to see your value and how much you can offer to the world. Being an employer forces you to think outside the box. So, if you want to see what You can do, start a side hustle, or become self-employed, you will be shocked about how far you can go in life.
You learn How to live on the budget
Living on a budget is one of the hardest things people can do. People are trained to spend more than they should because everything is just one button away, and your order is filled without leaving their house. However, as a self-employed, you have to learn how to live on a budget because you never know what tomorrow brings.
When I was an employee, I didn't care much about living on the budget because I knew a paycheck was coming in every two weeks. But as self-employed, I no longer have that luxury. So, I have to pay attention to how I spend money.
Life is not as complicated as people think
Before I quit my job, I thought life was very hard. As I stepped outside of the employment world, I started to see that life is not complicated. People complicate it. As long as a person is willing to put in the time and create different passive incomes, their lives will be much easier than those who choose to stay working for others.
Takeaways
Quitting my job is one of the best decisions I have ever made. Working for yourself can be very rewarding if played right. You can choose your schedule, pick the projects to work on, and make more money since you make your prices. Remember, There's always a downside to everything. So please have a clear plan and money that can cover your bills for at least six months' savings before you even think about living your job.
Disclaimer: This article is not telling you to quit your job. It is for information only.
Comments