How many times have you caught yourself stressing or talking to yourself about your job security or your future? Are you getting fired when issues are being faced by the organization you work for? Or when you have an emergency and don’t have enough funds to cover it? We’ve all been there and experienced the ups and downs of instability. But how many of us are taking action to fix or resolve the problem? We all often fall victim to that stress or uncertainty.
There’s a saying, “You could be replaced tomorrow at work if you die today.” So, you better take care of yourself, and it’s time to start that RIGHT NOW!!
The first and most important thing anyone wants is “FREEDOM and PEACE to do whatever you want to do,” irrespective of the location constraints. Due to technological innovation, getting stuck to a 9-5 desk job is a traditional norm that changed in the past few years. Now, you can work from anywhere worldwide with a laptop and an internet connection. With COVID-19, it’s been proven to us again that any business can go under, and they could fire you. So being prepared would be helpful. It has also been proven that regular work is transforming to online models. It would be better to have a side hustle to monetize and do whatever you intend to do that suits your passion or personality.
You don’t have to stick yourself to a desk for work. The past few years have proven that business can be converted to remote/online. This saves huge commute time for employees and real estate for businesses. With remote possibilities available right now, you can work from anywhere. You could wake up to the sunrise in Hawaii or at a beach in Fiji or Maldives.
Many microbusinesses are outsourcing their administrative tasks to focus on innovating and expanding the business. That’s one advantage of being an entrepreneur. You could find virtual assistants for lower wages than maintaining an employee. The good thing is it could be ad-hoc (can be hired when needed).
TIPS
- Utilizing cloud platforms to host/save your data is a better option when you work remotely.
- You can use Google Drive or OneDrive to save all your documents, allowing you to access them anywhere worldwide with an internet connection.
- A laptop and two sets of clothes with shoes can be packed into a backpack, and off you go. For this, you don’t have to quit your job. If you could work remotely, this is achievable.
- With people in the United States and Canada, you can visit many countries and stay there for 90 days.
- Millennials and Gen Z are using these methods to their advantage. Heck, I took a trip for a month to visit around the United States and cover 13 states while working remotely. That’s when I got the inspiration to pursue remote work/business. If I can do it, YOU DEFINITELY CAN.
FIRE
FIRE (Financial Independence, Retire Early) is a lifestyle movement that started with the main goal of being financially free and retiring early, and it is becoming very popular nowadays. You don’t have to wait until 65 to retire and take a cruise to the Bahamas or a Gondola ride in Venice while sleeping most of the time during the tour. Instead, you can do it when you are 35 or 40, according to your plan. One of the main goals of the FIRE movement is to invest aggressively in your early years so that you can retire early.
FIRE helps you to gain control over your life and grants you the freedom to do what you choose. People save up to 70% of their income by living frugally. Once you reach your goal, you can use that money to fund your retirement living expenses. There are a few strategies you could use to achieve FIRE. These include planning ahead, reducing your spending, decreasing debt, increasing your income, investing, compounding, the 4% rule, etc. We will cover each topic in detail in the coming blog posts. Those will walk you through the steps you need to take to achieve your goal of financial independence.
BENEFITS OF FIRE
FIRE is also very helpful for people who don’t want to retire. It can help you live your life doing what you love with the option to stop when you want to. Being financially educated is one of the extra benefits that FIRE offers. And that is a skill schools don’t teach! I believe there should be a course in schools covering financial literacy.
I’m not saying that you need to quit your job today and go in search of your passion. It would be better if you could create a side hustle out of your passion that can be monetized. Once you reach your goal of making a certain amount of money, you can replace your traditional job with the one you care about or get inspired by. We will explore how you can create side hustles and achieve financial independence. People are setting up various kinds of businesses due to life-changing events like losing a job, divorce, being tired of being-broke, bankruptcy, etc. Many people achieve financial independence while staying at home and taking care of kids; we can take inspiration from them to work towards our goals.
This blog will teach you various aspects of finances, retiring early, stock market, minimalism, books, travel, etc.
