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For those of you lucky enough to have quit your J.O.B....

by sree94
14 replies
How much money did you have saved away before you took the plunge?
#job #lucky #quit
  • Profile picture of the author mpruben
    About 3 months living expenses, but I didn't quit working for the man until my online income was almost as high as my regular day job.
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  • Profile picture of the author markshields
    My reccomendation is pretty much what the last post says you really should not leave your day job untill you have replaced your income in my opinion
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    • Profile picture of the author KatyaSenina
      Originally Posted by markshields View Post

      My reccomendation is pretty much what the last post says you really should not leave your day job untill you have replaced your income in my opinion
      But you have to deal with lots of exhaustion :p

      Work 9 to 5 (wasted time), then come home and work on your online business for the rest of the evening...
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  • Profile picture of the author George Wright
    Same as mpruben,

    I think the important thing for me was to have some cash flow from my IM. However I really didn't "quit" my job for IM. I quit my job because I hated it, and then got another job working for a much nicer boss. ME

    George Wright
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  • Profile picture of the author Damien Roche
    'Lucky' - nothing lucky about it >> pure hard work and determination.
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  • Profile picture of the author WealthyBlogger
    I quit my day job December 2000. I was pretty nervous about it.. but I had set a goal the year before that by January 1, 2001, I'd be the master of my own time.

    That year, I managed to pick up some clients and save some dough. I had about three months of savings in the bank that could cover the expenses should it all fall apart, and an income that would cover my basic living expenses which at that time, was my rent and my child support. As long as I had that covered, I felt comfortable.
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  • Profile picture of the author sree94
    Well, matching my J.O.B. salary is not a problem for me at all. And saving up 3 months expenses isn't a problem either

    Just nervous about taking the plunge since my income comes from Adwords, and I am terrified of the Google slap

    But I am miserable at my job working the graveyard shift... and I really have a hard time finding the motivation
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    • Profile picture of the author WealthyBlogger
      Originally Posted by sree94 View Post

      Well, matching my J.O.B. salary is not a problem for me at all. And saving up 3 months expenses isn't a problem either

      Just nervous about taking the plunge since my income comes from Adwords, and I am terrified of the Google slap

      But I am miserable at my job working the graveyard shift... and I really have a hard time finding the motivation
      I can't say for you, but at the time back in 2001, what I did - having the three months of savings and a guaranteed contract worked for me. Most will tell you that you should have six months of savings as a reserve and that's probably a good guideline. You now have six months to diversify and build up, and increase what you have.

      Maybe the answer to the question is "You will know when you know - if you are still wondering, it's not yet time to quit."
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      • Profile picture of the author Hamida Harland
        I made my first proper money in March 2007 (something like $1000 from Niche Marketing On Crack sites), and I went full time by July. I hated my job and it's likely I would have left it even if I hadn't been doing okay online. I know it's not very sensible, but at the time I didn't have a cent to my name - we'd built a 5 bedroom house over the previous two years and it had cost way more than we had bargained for (or the bank would give us). I actually started off IM pretty heavily in debt. I have NO regrets though, leaving my job was the best decision I've ever made.
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  • Profile picture of the author Damien Roche
    My honest advice? Make sure google can only slap one side or your face at a time, if they insist. As in, before you take the plunge, ensure google doesn't determine your income, alone.

    Sorry about my other post, that was mainly for the newbies, not directed at you personally. Some people just expect everything will be handed to them.
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  • Profile picture of the author tim_buchalka
    I just quit about one and a half years ago with very little in savings to do the Internet Marketing gig full time. I just refused to entertain the possibility of ever going back to a J.O.B. or in my case my own company working as a programmer. I was sick to death of programming, and know it was the right decision. Love the freedom this gives me
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    • Profile picture of the author KatyaSenina
      Originally Posted by tim_buchalka View Post

      I just quit about one and a half years ago with very little in savings to do the Internet Marketing gig full time. I just refused to entertain the possibility of ever going back to a J.O.B. or in my case my own company working as a programmer. I was sick to death of programming, and know it was the right decision. Love the freedom this gives me
      Your story proves that you don't need a lot of savings, just a burning desire to succeed!
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  • Profile picture of the author Mangozoom
    Yes it sounds like you need to spread your risk by using more than one monetary system. If you have enough earnings in place to match what you currently make working full time ... your time might be better spent working on your Amazon, Clickbank and Adsense earnings.
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