I Want To Quit My Job And Live On My Savings - Career (5) - Nairaland
Nairaland Forum / Nairaland / General / Career / I Want To Quit My Job And Live On My Savings (19642 Views)
I Finally Quit My Bank Job For Bolt Driving / I Quit My Lagos Hotel Manager Job, Relocated To Abuja For Green Pasture -Emenalo / Do I Need To Quit My Job ? (2) (3) (4)
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| Re: I Want To Quit My Job And Live On My Savings by DanitoA1(m): 5:10pm On Feb 05, 2018 |
Nice gist has been going on about investment and Job stuffs. Well apart from bitcoin and other cryto currency you can actually learn to trade binary options and with a reasonable amount of capital, you can be making up to an average of $250 working just 4hrs daily. The strategy for doing this is actually easy to learn but takes a bit of dedication and patience to make consistent profit am willing to teach anyone interested and actually has at least 450 to 500$ (about 200k in Naira) capital to invest. You would not pay to learn, you would only pay after you start making consistent profit. It would benefit you more if you stay in Lagos, because you would have the opportunity to meet me one on one. Contact me if you are interested between 6pm to 10pm only please. 08148023216 or chat on WhatsApp only serious people please. 1 Like |
| Re: I Want To Quit My Job And Live On My Savings by DanitoA1(m): 5:14pm On Feb 05, 2018 |
True talk trading currency online is risky when you not sure what you're doing, I repeat very very risky. einsteine: |
| Re: I Want To Quit My Job And Live On My Savings by chukzyfcbb: 5:18pm On Feb 05, 2018 |
Don't quit that job, I bet you prolly recognise my moniker from the T.bills thread/Mutual Funds thread because I remember your moniker in a discussion we had. 400k a month on an investment isn't really big, + Crypto value is just paper value. until you sell your coins, you don't own 100k dolls. it could crash to zero in the next minute. 400k monthly from an investment isn't enough to quit, + You didn't state if you are married or single. Quit to start up your own firm or to do a Biz you love and not to feed off your Investment except you are retired.(60yrs+) In Robert Kiyosaki voice, try to move from the Left quadrant to the right quadrant where you will be a Business owner and an Investor (That's where financial freedom is) Own a business that can bring you cash even without your presence there in a year. #Business owner is different from being Self employed. #Pics below #Cash flow quadrant is the title of the book #Kiyosaki Disciple 2 Likes
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| Re: I Want To Quit My Job And Live On My Savings by esecoal(m): 5:36pm On Feb 05, 2018 |
but what kind of investment do u do that gives so much ..baaba show us he way ooo sabanageorge: |
| Re: I Want To Quit My Job And Live On My Savings by Aderoy(m): 5:37pm On Feb 05, 2018 |
@OP, It’s admirable to recognise your strengths and weaknesses. It’s also admirable that you are weighing up long-term, sustainable income against your current source of income. I’m happy to share my experience if it helps. Source of unhappiness: I find myself in your situation in the last 1 1/2 years not because I do not like what I do for a living (I’m a telecom engineer) but simply I’ve reached a point in my current job where I feel there’s a need for that next step. That’s the main source of my unhappiness, and I recognise that. As I allowed that to fester I started disliking the hours I put in to the job as my level of fulfilment starts to wane. As others have pointed out, and throwing my 2 coin in the hat, first thing is to identify the source of your unhappiness in your current role. Investment stream & investment diversification: Between 2002 (whilst still in my 3rd yr at Uni in Nigeria), and similar to your situation I started to build multiple streams of income. I later sold about 97% of my investment in Nigeria (around 2005) and used part of the proceed to finance my studies in the UK as well as buy 2 parcels of land. I also sold 100% of investment in the UK in 2013 and used the proceeds for deposit in a mortgage in the UK, and started to build on one of my plots in Nigeria, which was completed in 2017. The intention is to rent it out and get a small but stable income, from which I can take care of my parent rather than having to send money from the UK all the time. I am also pre-IPO invested in solar farm power generation company, which has now become operational and now doing another pre-IPO investment (monthly plan) in a new generation elevated rail transport system at 1000 USD per month. I’m happy to share info with anyone who is interested. There is no secret about the investment and the info is widely available on the internet but do not want to put the info here so admin don’t think I’m advertising a company I have vested interest in. I am not heavily into cryptocurrency compared to you. I’m actually slow off the block in crypto world mainly due to my other investment commitment but I have a small stake with which I buy ICO offering I fancy. I’m assuming here that, as someone who is heavily into investment, you are already aware that the key here is diversification of your investment portfolio to edge against future downturn. Income: Although I’m in the process of selling my property in the UK for personal reasons. I hope to use some of the income for joint property investment with my mentor (who happens to be an Indian/British but spent his early years in Nigeria). This leads me nicely to the mentoring. Mentoring: I am lucky to have someone I can bounce ideas off. I may disagree with him sometimes but having someone who has either gone through a similar experience and/or knows where you are coming from is very vital. I have many Nigerians friends I wouldn’t discuss the extent of the above with but can, and often do, discuss with this guy simply because he is the kind of person that despite all his achievement you’d hardly know he is worth what he’s actually portray to be....Always looking for others to do well as well and will always encourage one to take the straight and narrow road. Discuss your situation with someone who will be objective, wouldn’t envy your situation or discourage you from looking at all options other than his own limited, narrow views. The objective isn’t to take what they say verbatim but by bouncing ideas off someone you equally share mutual respect, you might just have that ‘eureka’ moment or be able glean one or two points you haven’t even considered. My decision I decided not to quit this Jan 2018, and carry on with my current job for the next 6 months and re-assess the situation. Also to be frank, I need the income to pay mortgage (until property is sold as it’s now on the market) and also complete ongoing monthly investment in the elevated rail transport system. So my reply to your question is not YES or NO as only you can answer that but I hope my 2 cent (along with many on this forum) will help in shaping your decision either way. Happy to discuss any of the points I’ve raised above with you or anyone else it might help. 6 Likes 1 Share |
| Re: I Want To Quit My Job And Live On My Savings by chucksp: 6:25pm On Feb 05, 2018 |
Real talk brother. jaychubi: |
| Re: I Want To Quit My Job And Live On My Savings by esecoal(m): 6:49pm On Feb 05, 2018 |
PLs lemme get ur contact lemme not miss out this year on crypto rozayx5: |
| Re: I Want To Quit My Job And Live On My Savings by engrchykae(m): 8:12pm On Feb 05, 2018 |
Hahahahahahahahahahha........... VILLAGE PEOPLE ARE DELIBERATING ON YOUR MATTER. YOU WILL USE YOUR HAND AND RESIGN AND THEN REALITY WILL DESCEND LIKE LIGHTENING. THAT WAS HOW MY VILLAGE GUY WHO GOT A JOB THAT WAS PAYING HIM 80K STARTED WHINING HOW HE DOESN'T HAVE TIME FOR HIMSELF. HE RESIGNED. HE NOW HAVE ENOUGH TIME TO BE AN OKADAMAN IN THE VILLAGE. AM NOT SCARING YOU BUT IF YOU WANT EXPERIENCE TO TEACH YOU,NO PROBLEM. |
| Re: I Want To Quit My Job And Live On My Savings by sekem: 8:18pm On Feb 05, 2018 |
IamProdigy: This is how you start Visit luno dot com and create an account Fund your luno account with any amount of money you want to invest in crypto using your Mastercard or visa card. Purchase bitcoin and/or etherum from luno Then sit back and monitor your account If the bitcoin or etherum prices are rising, you will see it. If they are falling, you'll also see it The rise and fall of crypto prices is entirely not under your control. Just like in forėx tradìng, events happening in different places around the world influences the rise and fall but generally, it's all about demand and supply You can cash out i.e. withdraw anytime you feel like Luno will pay the amount you are withdrawing into your Nigerian bank account It is as simple as that 2 Likes |
| Re: I Want To Quit My Job And Live On My Savings by IamProdigy: 11:26pm On Feb 05, 2018 |
sekem: wow..thanks |
| Re: I Want To Quit My Job And Live On My Savings by rozayx5(m): 4:03am On Feb 06, 2018 |
esecoal: Add gmail to my username and send a mail |
| Re: I Want To Quit My Job And Live On My Savings by InvertedHammer: 5:55am On Feb 06, 2018 |
einsteine: As decentralized as MMM right? I heard this argument many times with the MMM suckers. This is how it works: Initial buyers get in. Market rises. Investors take notice and dive in. Towards the top, the noise becomes louder. Analysts come with bogus calls and predictions. Smart money take their money off the table. Retailers come and buy into the hype. With COT data available, they know how retailers are positioned. They short the hell out of the market. It goes down. More retailers buy into the hype. It goes up and then melts down. Check the historic charts of indices, gold, oil, crypto. It is the same pattern. Will it ever go up? May be, but the market can stay irrational longer than investors/retailers can stay solvent. Haven't you heard that before? Yes. Central banks have rained on cryptos' parade. Singapore talked, it tanked. China talked, the same thing happened. The same goes for India. Even our dear CBN is issuing warnings. DO NOT EVER GO AGAINST CENTRAL BANKS!. They have more in their financial arsenal than any group of investors. They can start with verbal intervention. There is emotion in the market. The more it goes down, panic sets in and people bail. Or worse, depending on the market, there will be forced liquidations and margin calls for margin traders. Yep. That is money gone! For US residents, they cannot write off their losses. BUt they will be taxed in their profits. Sucks right? You cannot be talking about anything finance in the global arena and not involve central banks. Some companies offered ICOs (initial coin offerings). Yep! So much for anonymity. But you are at liberty to believe whatever you want. Why do I even bother? It is your money, suit yourself. In the last 24hrs, bitcoin has shelved $2,358 and is sitting at $5925. Some suckers bought at $19000. You are talking about a fad not backed by anything. I don't want to discuss other "pump and dump" scams going on in the other little known "mom and pop" cryptos (just like penny stocks with small capitalization). LOL. If the TL support around 5900+ area breaks, it is over! This is the last battle line. / 1 Like 1 Share |
| Re: I Want To Quit My Job And Live On My Savings by einsteine(m): 7:26am On Feb 06, 2018 |
InvertedHammer: Like I said, if you truly believe it would fall sharply, why aren't you shorting it? |
| Re: I Want To Quit My Job And Live On My Savings by LordAdam16: 12:47pm On Feb 06, 2018 |
InvertedHammer: MMM is/was not decentralized. Do you even have an idea of what you're talking about? Stop riding the bandwagon. The stock market crashes every two decades, with a depression once every half a century. No one is calling the stock market a fad. If you want to compare cryptocurrency to anything, compare it to the dot com bubble of '99. There was a crash in 99'. Fast forward 20 years later, and AMZ, Microsoft, Apple, Intel, Cisco, et al that took a beating then have eclipsed their pre-99' high. Apple is on track to become the first trillion dollar company. Bitcoin has gone from $1000 to $90 before. It could go below $1000 and rise again. Or it could just fizzle out. But Blockchain would remain. It's not a fad. No one can say 100% what would happen with cryptocurrencies, because we haven't ever had cryptocurrencies. There'd be micro- and macro-corrections from time to time. These are expected. Ride the wave. You can profit from the free fall, same way you can profit from a rise. But if you're saying blockchain and cryptocurrency are ponzi schemes, then you have no clue of what you're talking about. Because whatever reasons you're gonna come up with are the same reasons why anyone could call stocks and FX trading ponzi schemes. Before you try to rain on a parade, try to understand what it is about. Else you'd sound like a dumb f*ck. I know for a fact that you don't know the technical details of Blockchain. Yet, here you are ranting on like you're Satoshi. -Lord 2 Likes |
| Re: I Want To Quit My Job And Live On My Savings by InvertedHammer: 1:28pm On Feb 06, 2018 |
LordAdam16: Dumb f*ck? Thanks for the compliments. The market can stay irrational longer than you can stay solvent. How much are you down? Knock yourself out. / |
| Re: I Want To Quit My Job And Live On My Savings by LordAdam16: 2:54pm On Feb 06, 2018 |
InvertedHammer: And what makes you think so? Not everyone invested their life savings in crypto. Crypto is unchartered territory. I don't act like I know it all, and you shouldn't. -Lord |
| Re: I Want To Quit My Job And Live On My Savings by LordAdam16: 3:20pm On Feb 06, 2018 |
sabanageorge: Can you live off that, sure? Is it okay to, sure? If you want to, do it. Not everyone has to wait until they're 60 to retire. And quite frankly, no amount of money you make would ever be enough. That's just human nature. Just make sure this is something you really want to do and you have contingency plans (three or five years in, you might want to do something else, so there's that). You have your whole life in front of you, and you only get 1 try. Just one. So as long as you've thought hard about it and know to a certain degree what it'd involve, do it. -Lord |
| Re: I Want To Quit My Job And Live On My Savings by InvertedHammer: 4:53pm On Feb 06, 2018 |
LordAdam16: Address the issue with the respect with the dude that wants to retire. Stop personalizing stuff. The tally is coming in. Bitcoin wiped out $500 billion in the last 3 sessions. It doesn't have to be life savings. Why waste money on obviously flawed scheme? / |
| Re: I Want To Quit My Job And Live On My Savings by LordAdam16: 5:00pm On Feb 06, 2018 |
InvertedHammer: This is what the OP said. I want to keep it till year's end, when it may be bigger or maybe zero. He is aware of the risk. Go big or go home. That's the apothegm HODLERS live by. I chimed in because you equated BTC/Crypto to MMM. That's wrong. And there's nothing personal about proving you're wrong and saying you have no idea about what you're talking about. -Lord |
| Re: I Want To Quit My Job And Live On My Savings by Sapeleboy911(m): 5:33pm On Feb 06, 2018 |
@op In my opinion, before quitting your current job you should put so many things into consideration. Like cost of your living expenses, unforseen circumstances, have a picture of where you want to be financially 10 years from now. The truth about working from paycheck to paycheck is that,technologically chances of making wealth from such stream of income is slim. The Bill Gates, and Zukerberg, some answers are referring to as workers don't work from paychecks to paychecks. Rather they print paychecks. Their main motivation is not paycheck, but PASSION. And as for the crypthocurency investment you have. Though I have so much believe in blockchain technologies . But the truth is, crypthocurency for now is a very volatile investment. These are investment that you allocate very little funds ( funds that you can afford to loose) to. And you should ask yourself if at all you quit your job what do you intend doing? Going into business, look for another high pay job? Sit down and live off your investment ?( A VERY BAD IDEA). If you intend going into business then I advice you start your business on a small scale, and still hold on to your job while running your business. After some while if you see that there is potentials in your business. Then you can put in all your effort and face your business fulltime. Before quitting your job you should have at least a year or six(6) months living expenses somewhere. So that in a worse case scenario you will not run out of cash. My 2cents |
| Re: I Want To Quit My Job And Live On My Savings by olaboy1: 8:20pm On Feb 06, 2018 |
I believe 400k monthly is good for a family living in Lagos, considering many are living below 150k. Your plan is not to go to quilox and pop champagne every weekend. If you currently earn around 200k from your job then it’s better to quit and avoid all that Lagos rush hour traffic (assuming you live in Lagos) and find an office space not farther than 10 mins to your residence to start up something. As long as your invested capital is secured then you have nothing to worry about, no job can ever be secured. If you get bored after resignation, you can volunteer to work free for kids and make your community better. |
| Re: I Want To Quit My Job And Live On My Savings by Slimfeez(m): 9:47pm On Feb 06, 2018 |
sabanageorge: |
| Re: I Want To Quit My Job And Live On My Savings by realmindz: 8:53pm On Feb 07, 2018 |
nothing wrong im quiting as long as you have plans to grow your monthly income..I tell you, to live a good Life, you must earn above a million on the average per month |
| Re: I Want To Quit My Job And Live On My Savings by anitasoll(f): 6:09am On Apr 02, 2018 |
You have to figure out what it is you really want to do, something you have a passion for. That passion you can turn into business that would yield you a much better income. Talking from my experience, I also was an employee before until I realised that I don't want to be an employee forever. I started learning how to make money online which is my passion since then now I am using my skills to teach other people to do the same. |
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