The Beginning Of My Self Employment Journey
As some of you know, I was recently laid off from my job and wrote about that here. I have already given some tentative plans about how this would impact my crypto investing journey. This plan has remained largely unchanged. I’m closer to getting a bit of clarity about how to proceed going forward but a lot is still unclear. Of course, having spent the last 15 years with a 9–5 job (working longer hours than this) there is quite an adjustment to make.
Motivation
So the question is really about motivation. Because I got laid off, much of the decision making was made for me. I think it’s difficult to quit your job to pursue self employment. Especially if like me, you are the sole breadwinner supporting your wife and kids. Even if your partner works you might be used to a particular level of fixed income. I would love to hear from anyone who has either thought about going down this route or has made the plunge. How did you go about doing it? What were some of the challenges?
Doing It By The Book
Many books and articles will suggest that you build up a side hustle while you have a job. I guess you could say I already had this with my crypto investing and writing Medium articles. I have been thinking about starting a YouTube channel but I still struggle with the idea and my understanding is that it’s very time consuming to do it properly. Being a keyboard warrior is far easier but even Medium articles are more challenging than they appear. I will also need to build up a whole host of other skills that I didn’t previously think about. For instance, I’m not a natural at marketing but I am trying to improve in this area.
Flexibility
This is the nice part. Any of you who are parents would know how challenging it can be to be present for your kids. The good thing about self employment is that you can just decide to step away from your desk. You don’t have to worry about the boss calling you or anything like that. Of course, if you don’t do the work then this might cost you money but you can always earn that back. You also won’t have to worry about the boss who is under pressure themselves that needs you to be available during their time. Of course, this is a double edged sword and you could end up working long hours trying to support yourself.
Final Thoughts
The adventure is just getting started. I will look to continue writing about crypto and all things related because I enjoy doing it. I am just simply documenting my journey and learning to write as I go along. Of course this could all be a bust and I get a 9–5 job again very soon.
Disclaimer: None of what is written in this article constitutes financial advice. Investing in cryptocurrencies, and in particular decentralised finance, is high risk. What I write is not a recommendation to invest in the projects I discuss. I am not aware of your personal circumstances. Only invest what you can afford to lose. Make sure to do your own research rather than relying solely on my content.
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An Important Note
Protect your crypto by getting a hardware wallet. I personally prefer Trezor but the Ledger is more versatile and can be used for more cryptocurrencies. If you don’t have a hardware wallet you can get a Ledger by using my affiliate link here.
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