Quit Your Job To Freelance


I’m leaving the world of ETF trading and asset allocation models to come down to something very important; your job! Have you ever considered quitting your job to become self-employed? Have you ever considered doing freelance stuff? I had quit my job a while ago to switch for another one. However, I have never had the guts to leave a salaried job to work on my own.

The beauty of freelancing

Month after month, this thought has teased me; quit my day job to work full time on my online venture. It’s not that I am not making money or that I am not happy at work. In fact, it’s quite the opposite; I have a well paid job and I am pretty happy doing what I do. However, there are several advantages of being your own boss:

–          no more schedule

–          you can create sources of passive income

–          you can work from home

–          you can establish your own work plan, your own strategy

–          your earnings are proportional to your efforts

–          you can make way more money if you are ready to work hard

Things to consider before quitting your job

There are a few things that are holding me back. I wish I hadn’t such a good job. I wish my job didn’t have benefits, pension plan and a good bonus at the end of the year ;-). These are part of the things you need to consider before quitting your job:

–          benefits such as healthcare insurance and dental care

–          pension plan

–          income growth potential

And a few questions to ask yourself:

–          Are you self driven?

–          Can you work without having a boss telling you what to do?

–          Will you cut corners and take breaks or will you work both day and night? (both are not recommended by the way ;-) ).

–          Do you have a team of professionals to support you? (accountant, lawyer, banker, etc.)

–          Do you need a partner? (I know I do)

How to create a sideline that will eventually replace your job

Instead of quitting my job right away and being left with no income tomorrow, I have decided to consider another path: creating a sideline income that will eventually allow me to quit my day job. Based on my passion and worked on during my spare time, my online company has grown significantly over the past 4 years. I am not yet at a level where I can plan the day when I will quit my job. If my business keeps growing I should be able to quit within the next 5 years. This will be quite an achievement… but still… I’m very nervous about it.

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