Don’t quit your day-job

Yesterday on the train, I was listening to the Digital Nomad Podcast Episode #11 about not quitting your day job.  They were talking about the sad stories of people who quit too early to go into things like freelancing or online marketing or blogging and stuff like that, except it sometimes doesn’t work out like you think it will and you end up broke and desperate.  So they suggested the better way is to not quit your day job and build up your new business venture in your spare time.  While doing 2 full-time jobs is really terrible unless you have one of the 1% with a freakish amount of energy, they suggest either working your day-job as a part-time job and putting more time and effort into your side business or working full-time at your day-job and then just spending 2-3 hours/day and weekends on the new business.  It reminded me of the “side-hustle” that I’ve been reading about on Early Retirement Extreme over the past few years, where they talk many of the same ideas on that podcast (FYI: I really enjoyed his his Ebook

How does this relate to my life?  I actually have the most ideal full-time job I could ever imagine when it comes to having time for stuff on the side.  My contract (teaching at a South Korean University) is only 9 hours/week and in exchange I get a very decent salary, a housing allowance, pension contribution and good healthcare (package total around $3000 US).  I take on another 5-10 hours/week each semester and generally actually teach around 20 hours.  Depending on the classes, it takes around 5-10 hours/week for admin, totaling not more than 30 hours, which leaves me lots of time to put into side ventures.  The best thing about the job is that I get 20 weeks paid vacation.  10 weeks in summer and 10 weeks in winter, so I can “practice” going full-time on the passive income stream development.  I think it’s going to be my plan for the upcoming summer.  A bit of work at the day-job (there is lots of OT floating around during the vacations) and then spend the rest of my time working on this blog, among other things.

 

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