It depends of if we're talking Gross or Net. But I definitely see where you're coming from.
How much did you have banked before you quit your 9-5?
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Boundaries where work stops and home time starts.
I'll do a load of laundry while I am working, but I don't answer the door, and I usually do not answer the phone.
With the great power to work in your underwear, comes the great responsibility to actually get shit done (pun intended).
^^^ great advice IMO
OP: consider the worst case scenario in regards to quitting your day job. If you can't handle that scenario, stay put. I second the need for 6 mos of expenses in the bank regardless of what you do.
$5000. The day job was killing me. I'd rather be fucking homeless and starving and working on my own business than using my best energy to further someone else's vision.
I went full-time August 2008, a few months before rebills boomed.
Car paid off
Credit Cards paid off
No dependents
Living expenses were about $1000 a month
$15k in savings
$10k profit a month coming from Facebook, funded by my Plum card.
Car paid off
Credit Cards paid off
No dependents
Living expenses were about $1000 a month
$15k in savings
$10k profit a month coming from Facebook, funded by my Plum card.
How the fuck do you guys get your expenses down to $1000/month? I used to spend more than that in fuel driving to and from work (well, only a slight exaggeration - it was $700/month). Where I live, a single room in a shared house in the suburbs miles from a train station (so you would need a car) would cost $800/month.
In my opinion if you're income would increase because you put in more hours of work each day, you're doing it wrong. The power of the internet is that you can divorce time from income. Yes, $30k/month is good money. But you still just bought yourself a high paying job and if you have to work stupid hours to get that money then is it worth it?
Think you won't have a boss? All the people saying it's great! I don't have a boss! are delusional. Everybody has a boss, and it's usually the people who pay you money - whether it's customers, shareholders, affiliate networks, VC's or investors. These people still have to be kept happy.
If $30k is a stepping stone to $200k/month because you're building a long term automated business then I'd say go for it. But if the only way you can increase your current IM income is to sit in front of a computer and refresh your stats, redirect offers, launch 10 new PPC campaigns a day then I'd say wait until you pull the trigger.
In my opinion if you're income would increase because you put in more hours of work each day, you're doing it wrong. The power of the internet is that you can divorce time from income. Yes, $30k/month is good money. But you still just bought yourself a high paying job and if you have to work stupid hours to get that money then is it worth it?
Think you won't have a boss? All the people saying it's great! I don't have a boss! are delusional. Everybody has a boss, and it's usually the people who pay you money - whether it's customers, shareholders, affiliate networks, VC's or investors. These people still have to be kept happy.
If $30k is a stepping stone to $200k/month because you're building a long term automated business then I'd say go for it. But if the only way you can increase your current IM income is to sit in front of a computer and refresh your stats, redirect offers, launch 10 new PPC campaigns a day then I'd say wait until you pull the trigger.
Basically this ^^^
Aspire to be a stoic, live like a spartan.
Sure they are. Ok they're not micro-managing you but if you don't keep them happy, you don't get paid.
The exception is someone who lives purely off completely passive income - eg. invests 10 million at 5% and lives off the 40k/month interest.
Good ol' Australia. Where the price of a new mid-range BMW can buy you a used Lamborghini in the US.
This is almost my exact situation.
How many months were u hitting 10k on fb before u said fuck it?
Why doesn't anyone ever mention raw passion and ambition when these types of threads come up? That's probably far more important than working out, eating healthy, setting rules for yourself, and all that shit.
Without the raw ambition to do it, you're not going to do it, regardless of what mental rules you put in place for yourself. You should enjoy being at work, turning ideas into reality, while watching those ideas evolve into a prosperous and profitable operation, and all that good shit. If you hate doing this type of work, and are only doing it for freedom from a boss and good money, then more than likely, you'll eventually fail.
Without the raw ambition to do it, you're not going to do it, regardless of what mental rules you put in place for yourself. You should enjoy being at work, turning ideas into reality, while watching those ideas evolve into a prosperous and profitable operation, and all that good shit. If you hate doing this type of work, and are only doing it for freedom from a boss and good money, then more than likely, you'll eventually fail.
Bought a foreclosure, so no rent or housing expense other than taxes and insurance. Insurance for that and my Jeep together is less than $200/month, less if I pay 6 months in full (who wouldn't), so around $130. Gas runs me around $30/week if I drive a lot, but I can usually go two weeks on that, and that's on a Jeep that gets 15-18 mpg. Food, maybe $80/week because I only eat out once or twice and automate crawling coupon sites to find discounts for the good stuff I plan on buying the next week. All that's left is utilities, which is around $60, for living expenses. Then there's Internet and TV, which cost around $130.
Servers cost me around $170/month with my reseller discounts. Then the SEO services to monitor and find new keywords, backlinks, and what not that I don't care to automate myself is maybe another $200.
That's around $800/month in expenses on average for what most people in this industry would be spending money on.
It's really easy to just let Paypal rack up useless subscriptions and payments for services that you don't use a lot. I did a house-cleaning in it a few months back and killed off a number of subscriptions that I had forgotten about. I'm sure you can get it under $1000/month if you thought critically about what's worth paying for and what's not.
Considering my government mandated child support is more than $1000/month, I doubt it. But thanks for the advice (seriously)