Friday, May 25, 2007

Financial Freedom

I agree with Hobopoet. I can't wait for the day I leave my LAST job. Not because it's bad or the boss sucks but because I want to be free to do what I want to do. This is the real goal (at least for me) with being out of debt, living below my means, etc. Freedom. And maybe like many people I won't be able to handle it. At least I will have given it a try, hated it and went back to wage slavery.

I'm pretty intrigued with the idea of a micro business but 2 things seem like roadblocks to me. Firstly, a micro business won't cover many of my family's living expenses plus generate enough savings to fund the future permanent retirement date. Secondly, it seems hobopoet's particular business (ESL) is extremely portable so I would need something that was similar at least in concept. Plus, to make decent money I tend to be a GOOD wage slave. I have consistently moved up over the years in salary and am at a point where I don't really need or want to move "up" into management (just the thought of it makes me ill!) to retire on my personal date (age 45). I've been told many times I would need to go into management to make "good" money. So what is good money? Saving 25%+ of your gross? I'm doing that now. With kids. With a house payment. Living well. Do I need to make six figures for that? No. The real issue with those people is that they think "Oh, since 50-80k isn't enough for me now surely 100k will be enough." Or 145k. Or 200k. The "not enough" is the issue not how much money you earn.

Formula for a good wage slave.

45% Show up on time. Leave on time.
25% Do assigned work relatively efficiently.
25% Don't push off your work on other people either by not doing it at work or doing things like not answering your pager when you are on call.
5% Going the extra mile.

That's it. In fact you could never go the extra mile and still earn an A on the wage slave test. Good enough for me.

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