How Do You Know When It’s Time to Quit?
How do you know when it’s time to quit your day job? I have met quite a few full-time internet marketers who always ask me why I fly across the country to seminars to hang out, only to go back to a 9-to-5 day job the next day. Despite averaging $10,000 per month income this year, I know it’s not time for me to quit. So how do you know when you should quit your job?
The very first thing you need to do is separate your day job and your internet income. It’s easy to say you average $10,000 per month (like I do) when a portion of that is from your day job income. Find out if you can really live without that day job income… deposit your paychecks DIRECTLY into your savings account instead of checking. Do not let yourself touch this money.
If you can keep this habit going every month for a year, it means not only did you survive for a year on your own, but you have a year of income to support you during those slow months.
Don’t forget about health insurance. The LACK of health insurance is the number 1 cause of bankruptcy in the United States. Not mismanagement, not the economy, but lack of health insurance. You might have complained about your day job taking $500 or $1000 out of your monthly paycheck to give you healthcare, but if you are self employed and are uninsured, you can easily run up a $10k or $20k medical bill if you get very sick, need an operation, or get hit by a car. Do not risk it, and do not risk your family, by being without health insurance.
Most of the full-time internet marketers I’ve interviewed have a secondary income stream to fall back on. Some at least have part time jobs, some still live with their parents, others are retired and still receive half-pay from work. Others support themselves by doing away with NECESSITIES… they fail to pay for health insurance, or the rent instead of owning a home.
It’s easy to chase the dream of doing less work for the same amount of money, but if you are still young and able-bodied, why not do a tiny bit MORE work by staying at your day job, and get your house paid off early? Fill up your retirement fund by age 30 or 40? You will be a lot happier if you maintain a normal life now and stick to your regular activities, so you can goof off later in life.
About the author:
Robert Plank, internet marketer, PHP programmer, and 23 year old homeowner, made an average of $10,000 per month every month in 2008. Check out his marketing ideas worth STEALING at: http://www.robertplank.com