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Escaping The Rat Race

16 July 2010 3 Comments

The topic of escaping the rat race is sort of interesting these days considering the fact that there are so many people unemployed.  After thinking about it for a few minutes, however, I decided that this is still an applicable topic since the ideas that might help someone “escape the rat race” are also ideas that might help someone get by without employment.  I’ll let you be the judge.

Generation Y is a generation that loves the topic of escaping the rat race.  The stuffy corporate job where we were a minimum of 9-5 in an office building just isn’t an attractive option for today’s up-and-coming work force.  No, we prefer flexibility, mobility, a wide range of opportunities, work/life balance, corporate responsibility, etc.  Those that take this a step further prefer to escape the rat race altogether.

But is escaping the rat race a real option for those of us who don’t want to work some silly service job because it’s “more fun.”  How can we find a balance of what we want to do and what might provide us with a decent income?

I believe you start with the lifestyle. What is the targetted lifestyle that you’re attempting to achieve?  Once you’ve spelled this out, you’re ready to look at how you might achieve it.  How much money would you need each month in order to live this lifestyle (I would submit that this is probably less than most people would guess if you’ve never done this little exercise)?  Now, how might you be able to fund this needed amount?  Don’t forget to build in a little extra for savings, insurance, emergencies.

As I write this blog article, I’m very close to hitting the $2,000 per month mark in online income.  Not long ago, I was dreaming of the chance to maybe hit $500 per month.  I figured if I could hit $500, I could probably hit something like $3000 per month.  This is showing to be accurate.  With increasing levels of income each month over the last few months (and looking to continue on such a trajectory), I actually start to consider the possibilities that this might lead to.

Could this really become a full-time income replacement?  I think it could. If I could get to $2000 per month, why not $5000?  If I can get to $5000 per month, why not $10,000?  Consistency, hard work, patience… these are the things that will continue to push this higher. 

Additionally, I believe you need to have a good business mind.  A good business mind will think creatively on how to generate revenue. The online world is no different.  Whether it is negotiating advertising deals or forming beneficial partnerships that will drive income, a solid business perspective is very beneficial. 

The best part of this deal is that I can continue to generate this online income while I’m keeping my full time job.  This is pure supplemental income that at this point can drive savings and investments.  By building savings and investments, this too can assist in generating additional passive income in the future (via investment returns).

Keeping the focus on the long term goals is the most important part.  Two years into this journey, I think I have actually figured out what I’m doing to some extent.  It took a while to get here.

How about you?  Where are you on this journey?

3 Comments »

  • wyojeff said:

    I think you hit it right on the head with the advice to start with the lifestyle. A lot of people live the lifestyle that they dont even like or want, because they are too timid to go after their dreams, somehow thinking that buying that 12th shot of rum will help them.

    I prefer a lifestyle that is fairly laid back, in which I wouldnt consume much, but what I would use/consume I could make for myself, and sell any extra that I didnt need to make a bit of money. Unfortunately, I cant begin this right now, but as you say, with patience, consistency and hard work (and knowing what I want) I can work now to lay foundation for where I want to be.

  • Ryan said:

    Besides escaping the rat race, some people these days have no choice but to find alternative ways to make income than the 9-5 job, because they lose their job, are unemployed or underemployed. It’s time to be creative and also time to think in a different pattern than “get a good job,” because that advice simple doesn’t work anymore.

  • شات دلع said:

    To create a business that we have become larger, of course we need the funds can be obtained through bank loans. Therefore, I think there is nothing wrong if we think about these alternatives, but we must be ready with all the risks.
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