Financial independence has obvious upsides. You can live comfortably without working, spending your time on more interesting and fun things.
Financial independence is easier than you've been told.
Here's an unconventional but effective path to financial independence:
Financial independence is easier than you've been told.
Here's an unconventional but effective path to financial independence:
The short path to financial independence: Get a remote job (developer, copywriter, or SDR). Move to somewhere like Chiang Mai. Save surplus income up to $300k. You’re now financially independent. You can quit your job and live off the return provided by your savings.
Three careers that are particularly suitable to making good money as a remote job: software developer, copywriter, and sales development rep (SDR).
What does a sales development representative (SDR) do? Generates leads for a business. Often by using cold emails, or phone calls. SDRs learn to sell, and sales is fundamental.
Making things and selling things are fundamental business skills.
The skills you learn as an SDR (sales development rep) are very valuable for future entrepreneurial activities. Sales is a critical piece of any business.
Remote SDR salary: According to ZipRecruiter, “the average annual pay for a Remote Sales Representative in the United States is $55,000 a year.”
What does a copywriter do?
A copywriter is a salesperson behind a keyboard.
Copywriters sell, using the written word.
Working as a copywriter is excellent training for starting your own business. All businesses need to sell.
Remote copywriter salary: According to ZipRecruiter, “the average annual pay for a Remote Content Writer in the United States is $45,000 a year.”
Getting a remote job as a copywriter or an SDR (sales development rep) is a great option.
A fast way to reduce your monthly expenses and get closer to financial independence: move internationally.
Nomad List says that you can live as a Nomad in Chiang Mai for US$952/mo.
If you have a savings account with 25*$your-yearly-expenses, you’re considered financially independent. en.wikipedia.org/wiki/Trinity_s…
$55k/yr as an SDR means 8.5 years from $0 saved to financial independence, ignoring salary increases. Yearly amount saved = $55k minus ~$10k for taxes minus ~$12k living expenses = $33k saved per year.
If you’re young and ambitious, you could be financially independent by the time your peers from high school are getting their first job promotion out of college.
Less-discussed advantages of financial independence: You can say and do what you want without fear. Being fired doesn’t concern you. Spending 12 months to research and find business ideas is easily possible. You’re financially free. You have true fuck you money.
If you’re interested in faster and more deterministic paths to financial independence then Balaji Srinivasan is a name to know. Balaji is a startup founder and investor, now CTO at Coinbase, formerly GP at Andreessen Horowitz. Watch his talk:
If you want resources for getting a remote job, check out this thread:
