I've set a date.
April 14, 2024 will be the day I quit my job. This will also be the day I turn 30. I'll have saved a good amount of money so that I can maintain a comfortable yet frugal life for my wife and I during this experiment.
What is the experiment?
I will dedicate an entire year to building applications with the goal of becoming financially self-sustaining by the end of the year.
My job is consuming my life. Committing 40+ hours/week is draining and leaves little time for anything else. I give all of my quality time to work and have little of it left over for myself when I do have freetime.
My greatest fear in life is being old and retired and wishing I had more time. I rather live a simple and frugal life with the freedom to do what I want than a rich and lavish life that requires me to work a job I wouldn't do if it weren't for the money.
I want to wake up without an alarm, to the sound of birds. I want to look out of my window and see the beautiful blue ocean, knowing I have the freedom to swim in it. Knowing I do not have to give my mornings to another daily standup.
I know this is possible. I read about it daily. Entrepreneurs building successful products. Entrepreneurs becoming Ramen Profitable. If others can do it, so can I. I'm capable, healthy, motivated, loved, smart, and supported.
All I want is the chance to breathe for one year and have the space to explore and build my ideas.
But, accepting this job was always an experiment. It was the first time in my life that I accepted a full-time job, benefits and all. I knew going into it what I'd be trading in exchange for the money and benefits - my time. Time is all I have. Time in my twenties even less-so.
I knew it was a risk, but I felt like I had to at least try to work a full-time job. Everyone seems to be doing it, there's gotta be something good about it, right? I wanted to see what life would be like making a six-figure amount. Honestly, it surprised me to learn the difference between $40,000 and $130,000 is much less than I expected.
I currently make $130,000 USD/year working remotely as a Senior Software Engineer. $130,000 stretched over twelve months is $10833.33 per month. After taxes, insurances, etc., I take home $7220.86 per month.
How will I measure it a success?
The want for more money is easily addictive. When have we made enough money? When can the pendulum dictating our time begin moving towards spending that time on things other than making more money?
I consider making $1 off of a digital product that I create a success. But, I think anything less than $2,000/month after the end of the year would require me to adapt and consider re-joining the workforce as a full-time employee or as a contractor.
If I end up making a product that makes more than $2,000/month, this will slow my burn-rate down dramatically, possibly eliminate it entirely.
I'm open to living in cheaper areas of the world. My only criteria is there has to be nature nearby - rivers, mountains, plains, etc. - with a strong preference of warm weather and surf. $2,000/month could provide enough for my wife and I depending on the location we decide to live.
But, $2,000/month is just the beginning. I believe I can make a lot more than that.
Traditional work doesn't pay enough
Did you know there are people that own their own waterfalls, hot springs, and beaches? There are incredible pieces of nature completely hidden from the public because wealthy people are able to buy them and gate them off.
There is a peice of property that I know is for sale that has at least one waterfall on it. It is priced at around $3,000,000 USD. At my current rate of pay, it would take over 415 months or 34 years of saving 100% of my income to afford. This doesn't take into account food, rent, or leisure. Right now, I'm able to comfortably save $2,500/month. That means it will take 1200 paychecks, or 100 years, to afford this peice of property.
All of that, just for the land!
I want that. I want to own my own peice of heaven. If others have it, I believe that means so can I.
But it's not possible with my current work situation. So, why bother? Should I give up on what I want or give up on my current work situation?
I love working
I love to code. Seriously. I love that feeling of getting hooked into a personal project. Spending every second I can find for myself working out problems. The pleasure grows tenfold when I believe what I am building is making the world a better place (sometimes I get hooked on the idea of building something quickly for quick cash and always tend to burn-out before releasing it).
When I'm not working, I'm coding personal projects. When I'm not coding personal projects, I'm watch tutorials, reading a blogpost or book, or thinking about programming problems.