I am officially unemployed.

Last Update: July 24, 2019

This may come as a shock to some of you, but I have been working a contract job for the last few years.

I did so because it was an easy gig that paid benefits.

But is just been getting in the way of scaling my business further.

Over a year ago, my side-hustle income officially started out-pacing my 9-5 income. It officially became a "waste of time" to go to work. (that is funny to think about...)

But since it was a contract gig, I was contracturally obligated to finish out the contract or I'd get sued.

So when the renewal period came up, I denied it.

So I am officially unemployed... but I am the CEO of a company!

Not renewing the contract definitely was the hardest decisions I have ever made in my life mainly because it is not just me, it is my wife and son as well. Decisions I make affect them, too.

I have accomplished many goals since starting this online marketing thing.. .but this was by far the biggest.

What is funny is that I have been working full-time on my business anyways, but my "full-time" is only 15-20 hours a week.

I want to thank Kyle and Carson for putting together a community and training that really works.

It really blows my mind when referrals tell me they don't have time because of work or something to take this business more seriously. I always tell them the same thing... "We pay better..."

Most people that give me those statements do not see the value of what is being taught inside WAs walls and it makes me sad...

For those of you that are still working toward this goal, here are a few things that I learned that has helped me quit my job.

1. Create a Budget

Sit down and list every dollar you owe to anybody. School loans, mortgage, credit cards, hospital bills, car loans, monthly bills. Come up with a number that you need to maintain your current lifestyle.

For example, if your current job makes you $4,000 a month GROSS (meaning before deductions and benefits) than that is your target number.

Now, we need to get your survival number... how much money do you need to SURVIVE. So if you lost your job tomorrow and had to severely cut back... what is that number? For example, let us say it is $1500.

Those numbers tell you where you need to get your business in order to walk away from your job.

2. Pay off bad debt...

You absolutely need to pay off ANY bad debt you have. This includes high interest credit cards, school loans, personal loans, etc.. Just a preference, but if you have any debt that you are paying higher than 4% in interest... pay it off. Make it a sin to pay credit card interest.

Paying this down will help you manage and plan out your monthy spending

3. Build a nest-egg or Emergency Fund

After you have paid off your bad debt, build a 3 to 6 month emergency fund. This should be an amount around your survival number so that you can continue to pay bills even if your business stops generating cash flow.

I built more of a 8-12 month nest-egg. But that was just because I wanted that to be more secure. But most financiers recommend no more than 6 months.

Having that cushion will also give you time to find another job if you have to. I believe I read that the average time it takes to find a job is about 2 months.

4. Consult with those that have done it already or are doing it

The WA community is pretty awesome, as there are those that have been doing this for years and they are willing to help you do the same.

I find that bloggers and content creators are typically nice people because the whole reason that are successful is because they are generous with knowledge.

So leverage the community here and reach out to those that have been successful and see what they are doing. Copy success... they can give you some little nuanced things that you don't think about unless you have gone through it already.

5. Determine how consistent your money is...

How long have you been earning your income? Has it been consistent for at least 6 months? 8 months? a year?

There are no guarantees... your primary income stream can dry up at any time... but so can you getting fired from your job without warning... or getting hurt and cannot work anymore!

One thing that online business will teach you is to diversify your income and have as many income streams as you can. Something that is not taught in school or even promoted at your usual place of work.

Running your own business can be more secure than working a job.... go figure.

6. Know that you are worth more than what they are paying you hourly

The biggest thing that I have taken from being a full-time entrepreneur is that you see your worth. Being paid hourly is a waste of time. You should be paid for the amount of value that you create.

I had a friend that was responsible for bringing in over $1 million dollars of business to his insurance firm... and you know how much he got paid for it? An hourly wage of $25/hr which is about $52,000.

Think about that... the insurance firm GAINED over $1,000,000 and my friend got only $52k back. That is about 5%. Meanwhile, the company kept the other 95%.

But if he were an affiliate of that company, he could have gotten anywhere from 20% to 30% in commissions. That is 6 times as much money! Turning that meager $52k to $312,000 in a year.

Get paid by the value you provide... not buy a hourly wage.

7. Build your business while working the 'normal' job.

There will come a point where the money you are making with the side business becomes more important than the time you are wasting working your regular job. As a result, the regular job isn't worth the time anymore and you will find yourself stealing company time to build your business.

That is unethical and I do not recommend it.. .but it is a clear sign that something needs to change.

Also, business take time... especially blogging. Do not quit your job until you have a steady stream of income coming in.

8. Jump...

Once you have all of your ducks in a row... take a leap of faith. Even the dumbest decisions come with a good story later.

Leave your current job on good terms and even check to see if the door is open for you coming back if things don't work out.

For me, it is better to do it and not regret it later, rather than work 40 years doing something I do not enjoy. We live in an interesting time of human history. It has never been easier to build a business with absolutely minimal start up capital (WA is only $19 to get started)

The way your parents made money is essentially dead. Jump now while it is still relatively easy to do.

Let's wrap this up...

If you love your job... don't quit. There is no point. But the truth is that more than 66% of people HATE their jobs

So, take your life into your own hands... Have a Minority Mindset and don't think like the majority.

Remember that you don't NEED a job... you NEED an income. There is a difference.

The key takeaways is to (1) build your business, (2) surround yourself with like-minded people, (3) invest in yourself, and (4) take massive action.

I hope this reaches most of you and you see that this 'online thing' is 100% real and open to anyone willing to put in some work.

Take Control,

Chris Myles

P.S.

So where are you on your journey? Comment below and let's discuss ways to get you out of the rat-race.

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Zero32 Premium
This is a very motivational post! I am so glad I read it. I definitely feel all of this. I want to work on my own things while I'm at work and it's difficult to stay focused on the work I have to do there. This post makes me feel like I'm doing the right thing for once and going in the right direction.
Thanks so much!
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SaraPoyner Premium
Thank you so much for this post, I am at the very beginning of the journey, with a dream and a hope and the motivation to put as much as I possibly can to build my business. My desire is for freedom, from debt, worrying about money and having a boss.

Unfortunately I am having to get another job (No 3) to survive, but that is ok, because I know it is a means to an end, as my website starts to bring an income I intend to scale back employment (and self employment) gradually, until I am full time following my passion.


Your post reminds us all that this is actually possible eventually : )
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mcb247 Premium
Firstly congrats on becoming an unemployed way to go :)

You make some great points in your post although I am down to working only 4 days a week I can't wait till I can have the freedom to work from home.

I know this will happen and look forward to it.

Well done again :)
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nooliverno Premium
Hello Chris,

That is one amazing post, well done on living the dream life!
I'm quite new here so I'm still figuring things out, but posts like yours help to prove to me that I can make something out of WA. I'm currently working a part-time job in a fast-food restaurant, which I hate with all my will. I want WA to help me generate an income I can live comfortably off while I follow my dreams. Thank you for your post, this has motivated me to think that my dream life is possible.

Thank you again,

Oliver
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gartnerf Premium
Good post and advice Chris. So glad you were at a point where you could make the jump to doing our WA work instead of the rat race job!

Success does not come without risk. The key is making them a calculated risk and not a blind risk. If you have done an adequate job preparing yourself and can maintain a solid living supporting your family, especially doing something you love/enjoy, then you are a success!

Congratulations and I wish you lots more success!

PS - Benji has a good role model to follow!
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BobMargroff Premium
Hi Chris, thanks for the inspiration and motivation. I just finished watching one of your videos earlier today about UpWorks and will be pursuing that along with working on my website.

That will be the main thing to get me ahead of my bills and still be working on my website. I have to get ahead of my income from my hourly job. You are definitely an inspiration.

I wish you the best!

Bob M
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JesseLee1 Premium
What an inspiring post! You provide a lot of helpful information about setting yourself up for long term success. I have just begun my blogging journey at WA but I am excited to learn and push myself. I know this will take some time but I have set myself up the best I could for long term success.
Thank you for posting this!
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davidschulz Premium
I wish I could get some help but what questions do I ask? I can't seem to make even one penny off more than 200 visitors a month. Like what is the secret I'm missing? I have good writing skills , I'm absolutely honest, I research more than my competition, and nothing pays off. I will most likely give up soon but, just wanted to know, what makes money?
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BenjisDad Premium
Shoot me your site. I'll take a look
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Dphil1951 Premium
All very true and all excellent advice. I'm working on it. Slowly working on it. Gaining confidence and learning. Still got a long ways to go and hopefully can put some of your advice into action soon.

Thank you. Enjoy more of your time now and keep the income rolling in!!!
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EdwinBernard Premium
Chris,

This was so inspiring! I have read this sentiment so many times, that aptly applies to what you just did.

When you take a leap of faith so strong that you sever all your lifelines to the past, the universe will open up all kinds of possibilities you never say before. You will achieve success like you never imagined.

It is amazing that when ones mind is detached from the pursuits that held us back, it frees up room for amazing new and profitable ideas to fill that newly created space.

Fortunately I am retired and all my pensions allows my wife and I to live a comfortable life. But there is nothing left over to fully take advantage of our free time after paying the bills. One of the reasons I joined Wealthy Affiliate was to learn how to leverage the Internet to provide additional funds so that we can afford to do the things we love.

I am sure you will achieve even more success now that you have that extra time to make your online businesses even more profitable.

All the best to you.

Edwin
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MarlaineB Premium
Awesome! Way to go, Chris! Wishing you much continued success!

I'm at the point now where our youngest is off to school in September, the point at which we were assuming I'd go "back to work" to help pay for tuition (private Christian schools are expensive, but in our opinion, worth it) and the costs that come with a growing/aging family.

Thankfully, my WA work has made it more than possible for me to continue on at home, prioritizing my family/motherhood as needed. SO great! I really didn't want to go back to the 9-5, with the stress it'd bring the family. Because of WA, I'm "officially out of the rat race" too now. And my being so has definitely taken the stress off of my husband to be the sole provider. So great!!
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web58master Premium
I am so happy for you! I love it! Thank you for sharing.
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AshleyK7 Premium
In in the very beginning of my journey and I'm very excited! I have extremely high anxiety and I'm a supervisor at my job which is just becoming more stress than I can handle. Two days ago I had 5 anxiety attacks. All in one day. And that's with being on medication. I used to be able to handle it but now I'm realizing as much as I love helping people (I work at Goodwill) as well and help leading people and having such responsibilities of doing so I just can't do it anymore. So I will continue to work though it (hoping it at least never gets that bad again) while I constantly work when I'm not work that job on my dreams of being my own boss! I'm excited to learn new things and meet new people! I know it isn't a fast process but I'm a patient person!
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BenjisDad Premium
working for yourself is stressful also, but you have more control
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AshleyK7 Premium
Yes but for whatever reason I can deal with that stress lol. I can't deal with the stress of other people though. My need to please thos above me causes me to attempt to work to perfection and that's what causes my anxiety to blow up. I'm great with handling difficult situations until it turns into I can tell someone is upset with me. If I'm working for myself only I can get upset at myself.
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Cdp4jc Premium
Chris,
Congratulations 🍾🎉 on your success and walking away from the 9 to 5!
Thank you for sharing with us, it is very inspirational. Great article and information on how to get there. I do believe the reason most of us are here is to achieve this and it is always nice to see it being done. Keep up the great work and I will continue to expect to see you spurring the rest of us on to reach our goals!

Chris from Texas 🤠

“Half the battle is just showin’ up!”
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BenjisDad Premium
thansk Chris! Lets do this!
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APouliot Premium
Thank you for this inspiring post Chris. I'm currently working hard on my website but I struggle to rank in the keywords I spot. No ranking means no traffic.

I know my website is young and that I must continue to write high quality content but sometimes, with no results yet, it can be discouraging.

By reading more and more of people being able to quit their job, I just hope it's going to be my turn one day. I want it so bad.

Audrey
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BenjisDad Premium
Thanks Audrey!
Your website is likely just new... give this business a solid year... dont expect to rank within days or even weeks... it can take months before stuff ranks, but once it does, the monetary benefits of such is outstanding.
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APouliot Premium
I won't give up!
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Mamabear01 Premium
Hi Chris,

Congratulations on your move. You are correct that most people don't need a job; they need an income. A job is Just Over Broke, and I need more. I've had one job that I probably would have worked for free, but that was eons ago, and it has changed drastically since I was there. But, now I need the income and I really think Wealthy Affiliates is the way to go.

I enjoyed your post, it was very informative and interesting; it had a lot of good tips. It was also encouraging; letting me know I can make it with hard work and good training.

Congrats again, and good luck; thanks for the info.

Pat
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BenjisDad Premium
i aprpreciate it Patricia!
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LCarpenter2 Premium
That was awesome. I did the jump. I'm a weck. Im premium. I'm going show this government I do not want or need their so called help. I will not g in to it. But I totally understand why people are homeless. And they will not deal with governmenat. Have to keep fighting for what you paid to into disability. What? It is my money.
Onward and upwards. I'm slow but i can not give. I see the vision not the $.
Thanks for listening. Wish me luck.
All the luck to all here.
Laura
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BenjisDad Premium
thansk laura!
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Colorman Premium
Very true Benjis dad. What I really need is an income and not a job. I have been working as a courier driver for almost ten years. I have very little to show for it. In fact, I belong to the 66%. Hope to one day walk away from my job and concentrate my energies into doing something I really love. Great post man.
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BenjisDad Premium
you will Leonaard! it's just a matter of time
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Carson Premium
AWWEESOME Chris! This is incredible news and I'm really happy for you. Taking this step can be a bit scary but it's one that has to happen in order for you to get to that next level. Plus, you've planned things out by the sounds of it very well! You're an extremely talented marketer and have a wonderful online business waiting for you to pour 100% of your time into, I can't wait to see what you can do now that you're FULL TIME!

Welcome to the club my friend, exciting :)
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BenjisDad Premium
it's terrifying Carson... but I am confident!
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bleumoon Premium
Thanks for the great tips Chris, and congratulations on being able to now be totally your own boss!

I am going through trying to find that final push. I know I am on the brink of something incredible!! I am excited to see what breaks out o the other side!

Thanks for giving me a peek at what it is like!

Blessings,
Lynda
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BenjisDad Premium
np, lynda, anytime
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Tipqmon11 Premium
Hi Chris, Congrats on your accomplishments! You have put in the work and it is paying off BIG when it comes to leaving your job. I am still in the rat-race of a 9-5, wanting to get out. Thanks for laying out great practical planning tips to get my off this hamsters wheel!

Much success to you,
~T.
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BenjisDad Premium
thansk T!
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Tipqmon11 Premium
You're Welcome!
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caljones6750 Premium
Thank you for a very encouraging post. I retired prior to joining WA, so this has been my full-time occupation for the past six months. I am not generating any income to speak about yet, but posts like this give me incentive to keep my feet to the fire. congrats for the courage to step out on your own.
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BenjisDad Premium
that great cedric!
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Tirolith Premium
Not long after we got married 50 years ago credit cards came out and we got one.
A few months later we had reached our limit on the card.
After six months we found we could not pay off the card as the interest was all we could afford so we cut up the card and have never had a credit card since.
No money in the bank no buy.
Tom.
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BenjisDad Premium
i hear what yuo are saying Tom
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Brenda63 Premium
Hi Chris, did you mention to set a marketing budget? As a CEO, gotta budget to market your business in various of ways. The marketing that you do free takes longer, paid ads gives better rewards depending on how effective your marketing tool and ads deliver. There are monthly expenses to think about marketing tools like an autoresponder, automatic monthly ads, and SEO tools etc. Business building tools such as bookkeeping, paying the taxes every quarterly. All that adds up to your expenses and profit margins. Wish you all the best. Thanks for sharing with us. I love being my own boss also.
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BenjisDad Premium
yeah, i got a good credit card wtih points to put expenses on, lol!
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RuthlynB Premium
Hi Chris congratulations on taking the leap, I hope you will continue to be successful, I am trying to build my business, it is not going as I think it should, but I am hanging on and working hard as I can, I am retired so there is nothing to jump from.
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BenjisDad Premium
haha.. im looking to retire early
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Great post, I needed this. I am just starting out, still going through the training and was worried about upgrading because of my budget, it is extremely tight, but I need to invest in myself and my family. Something I will use to help is "you don't need a job, you need an income". Thanks for this and congratulations!
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BenjisDad Premium
yeah, its a great line Michael
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BonnieMyers1 Premium
I am now struggling to make ends meet. Really I never thought that my contract would be terminated. So now I am working hard to go forward with the little money I have. and listening to you makes me feel like I should have done this a long time ago.
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BenjisDad Premium
yeah, create your own money. that is a powerful thing, Bonnie
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firstlearn Premium
A great post Chris. For me, this is more of a pastime than a job as I am retired and have a pension that keeps me housed and fed. But I want more and so I am working in the affiliate field.

I am lucky that I don't have to worry about my income or losing it, but my affiliate work pays for my cruises and other holidays that I like to take.

Derek
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BenjisDad Premium
i undersand Derek!
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RD40 Premium
Great stuff Chris! I became "unemployed" last October, and been loving it ever since. The only hard part about leaving my part time job were the people I worked with. Other than that, I had no problems doing it.

I've always hated working for people. I love the part about creating a budget, paying off debt, and creating an emergency fund.

All three and more made all the difference in how I manage my money now, compared to how I used to manage it in the past.

Money management is probably one of the most important skills everyone needs to learn. Thanks for the read.
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BenjisDad Premium
great stuff ralph and very true... i need to figure out when to pay bills
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Calh60 Premium
Hi Chris, I can't wait until I can say coming to this 9-5 job is a true waste of time. And yes, I am one of those 66% of people who hate their job and I can't stand making money for someone else.

I will admit though, I am also one of those "referrals" who have far too many interruptions to concentrate for long periods of time on my business.

I refuse to quit and will keep working at this until working for someone else is a waste of time.

Great post!

Cal
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BenjisDad Premium
just concentrate and do a little at a time
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Calh60 Premium
Thanks Chris
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ELaNere1 Premium
Hi Chris,

Wow...what an encouraging post. Congratulations!

I've been with WA for quite some time....and still can't seem to stay focused long enough to accomplish anything.

I am so disappointed with myself but still keep hanging in there.

When I get stuck, I don't ask our community for help, I just stop for awhile. Then I come back and try to continue without tackling the part I'm stuck on....just overlooking it. That doesn't work!

I have the time to put in to learning what WA is teaching us but doubting myself is a big problem for me.

Have a Blessed day.

Evelyn
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BenjisDad Premium
doubt is normal.. it is what you do to counteract the doubt. read or watch something motivating on youtube
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web58master Premium
Very wise for someone that have not lived 100 years. Your head is on straight and your feet is firmly planted on the ground. You are centered and balanced. I love those words " that you do not need a job...you need an income." It has been a pleasure reading your post. Have much more success and wealth for you and your family. Thank you for sharing.
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KRojas Premium
Cashflow is such an important process to learn. Compulsory schooling does what it can but it can never teach people how to successfully achieve cashflow. It has to be developed from an individual standpoint.

Working for money creates a false sense of security. The reality is, having money work for you is much more beneficial than working for any type of hourly wage or salary. Everybody is so much more valuable than any of that nonsense anyway.

I used to work for money had I spent all of it instead of investing it I probably wouldn't be here. The online world is amazing in that with or without an online business it is still possible to see financial success.

There is so much opportunity out there that I would not have learned about or taken if I listened to other people's versions of making money.

I am still surprised that people cynically question why there is the 1% and the rest. Is it a matter of hidden potential or a statistical anomaly? Personally I think it's all about development.

I still have much more to learn and I will never be done. Thanks Chris, good to know there are others with the minority mindset.
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BenjisDad Premium
yeah... i totally accept the minority mindset!
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Wdcope Premium
I am out of the rat race as a retired individual, yet I wish to get back to that degree of income I had with the corporate world. I am certainly not there yet. It took me more than 1 yr to reach that level, and hopefully new online marketers realize it takes time but can be realized.
Good points Chris.
CONGRAT's!
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BenjisDad Premium
that is for sure william.
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Kyle Premium
Awesome, congrats Chris. I personally know it is a big step moving out "on your own" as it goes against convention and what we are taught.

The reality is that you are in a position where you can continue to grow your business, and if you are comfortable with working for yourself, working harder (now that you have more time to dedicate to your business), and dealing with a certain newfound level of pressure to succeed, you are going to do great.

I know people thought I was crazy when I went full time, they just didn't understand. They surely do now, 17 years later. :)

I look forward to seeing what the future brings for you, and of course please keep us updated. If you ever hit any snags with self employment thing, you have lots of people here to lean on within WA (myself).
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BenjisDad Premium
thanks Kyle, I appreciate it. I will reach out for sure
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Mrssv1 Premium
Great job Chris! This is quite an accomplishment, and so encouraging to hear. I am still in the beginning phase of building my business online. I am working on my 5th post and have just started the Making Money" lessons. I look forward to each new lesson. Thanks for sharing and congratulations!
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BenjisDad Premium
awesome, reach out anytime! I talked with Keisha yesterday and gave her some insights.
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Mrssv1 Premium
She shared as much as she could remember. Thanks
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BenjisDad Premium
haha, nice
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Jewelia Premium
Congratulations, Chris! It's a big step, I agree.

Your story proves 100% the post I published a week ago, which is completely based on my own life path. I would greatly appreciate if you take a look at it. It's called "How To Budget Money On a Low Income & Importance of Building Emergency Fund." (I don't want to spam your post with a link).

The difference is that I had to quit my well-paying occupation before I found WA and reached your success in the online business. I wish I could reference your story when I was writing mine. I may do the update now :)

I am very happy for you and wish you continued success in everything you do,

~ Julia
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BenjisDad Premium
haha... go right ahead Julia... we can do an interview if you want.
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Jewelia Premium
Really?! I'd love that. I've never conducted an interview in my life, but there is a first time for everything...
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Feochadan Premium
Awesome advice and CONGRATULATIONS!!!
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BenjisDad Premium
thanks Darlene
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accad Premium
This is good advice and tips.
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BenjisDad Premium
thanks Jimmy
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accad Premium
You are welcome.
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cliffstarks Premium
Well said Chris, amazing tips and congratulations on your unemployment!!👍
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BenjisDad Premium
haha, thanks cliff.. that is a weird thing to say... or at least it sounds weird to the 'majority' of people.
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cliffstarks Premium
Haha right😊👍
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kpercival55 Premium
Congratulations Chris!!!
Your good planning (outlined in this post), hard work here at WA, and sticking with your job until everything was just right has led you to achieving your goal!
Good for you!
KyleAnn
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BenjisDad Premium
it takes orginzation, that is for sure.
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AffMktgRt Premium
Chris,

Congrats, most deserving and wishing you the best and continued success in all of your undertakings.

Blessings!
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BenjisDad Premium
haha, nice stack
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RoopeKiuttu Premium
👍👍👍💪💪

Good points. Especially point 6 reminds me of my close friend who said he's also running +1,000,000€ per year as an employee but can keep only a tiny fraction of it as an employee.

And even though his results would be much higher, his salary isn't higher so it doesn't really motivate to put in extra work. I've heard the same from many other employees, it doesn't motivate to do the best because there are not incentives for that always.
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BenjisDad Premium
yeah, one of my biggest issues with working an hourly job
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Nadia27 Premium
Well done! It's a great accomplishment and that is my ultimate goal. I am still at very beginning of my journey, so that's still a dream for me.
Again congrats!
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BenjisDad Premium
you will get there nana
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Nadia27 Premium
I hope so... Thanks
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davehayes Premium
Chris... Excellent post and of the numbers you give I have done most of them and like your quote

I'm unemployed but CEO of YouInc

Good feeling eh... Well done
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BenjisDad Premium
haha.. yup!
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AlanJE Premium
Hi Chris, I need to make the plans which you describe, so that work becomes an option not a necessity, thanks for your advice, Alan
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BenjisDad Premium
yeah, it's a good feeling
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