As you might know, I left my last corporate job when I was 29, which, if I must admit, was over four years ago. What you might not know is that my initial plan was quite different. Right after graduating college, I always aimed for early retirement, ideally by the age of 40. I figured that twenty years of working entry-level jobs during my student years and then corporate jobs from 23 to 40 would be sufficient for a comfortable early retirement.
The idea was simple: if you manage to save 50% of your income, financial independence could be just 16 years away. However, I truly hated my last job. The working conditions deteriorated every month, I had constant back pains, and I dreaded going to work each morning. During the prior years, I had been focusing on several side gigs. I tutored kids after school, taught French and Spanish, and wrote travel articles for multiple websites. I had roommates, rented out my parking space, and accepted any opportunity to make extra money.
Surprisingly, the income from these side hustles often doubled or even tripled my day job’s salary. Faced with two choices: either stay in that miserable job for a few more years until my savings reached my early retirement goal, or leave the job immediately and continue with my side hustles in a better environment, I chose the latter.
A year later, my investments were doing well enough that I didn’t need those side gigs anymore. Financial independence came a decade earlier than planned, thanks to hard work, diligent savings, and a few lucky investments. Quitting a terrible job and enhancing your situation, even if it means working a bit longer, is always an option. After all, if you’re in your 30s and in good health, you probably won’t want to sit around all day anyway. Why not make money doing something you enjoy?
Speaking of alternative paths, Levi over at Wealth Note shared his journey to achieve financial independence. He earns $30K a year at a job he dislikes and aims to save $1.2M to generate $6,700 a month in passive income to travel and play poker. I once met a guy in Guatemala who funded his travels by playing online poker. He said it was easy to spot beginners and secure a steady income by playing against them. He entered local competitions for fun and often found the skill level lower than in the US.
If Levi continues working his tedious job and saves, at best, $15,000 a year, financial independence seems distant. However, he could consider taking a risk by playing poker professionally. This would mean developing a strategy to play against weaker opponents for a solid chance of winning, rather than just playing for fun.
I’ve met numerous digital nomads, day traders, forex traders, and bloggers who travel the world thanks to their various incomes. Some sell ebooks; others rely on portfolio returns. Most don’t have $1.2 million in cash to support their dream lives. They simply redefined financial independence by maintaining a solid cash cushion and securing mobile income sources. This allows them to work from anywhere—be it Bangkok or Buenos Aires—without worrying about making a lot of money because they have savings and some passive income to cover part of their expenses.
This approach enables them to live the life they desire without depleting their savings or staying stuck in an intolerable job. Another option I considered back then was finding a job I enjoyed, like becoming a primary school teacher. Though it would have meant a pay cut, I could live on the salary without touching my nest egg, which would continue to grow due to compound interest. When I reached 40, I could then cash out.
Ultimately, I opted for travel writing, allowing me to travel and set my own schedule rather than taking the summer off like teachers. This plan meant that while I still needed to work, it was more about enjoying the journey, taking the scenic route rather than racing to the finish line.
What about you? Would you prefer to work less at a terrible job or delay early retirement for a chance to work your dream job?