I can't take it!

[lordmetroid]

Every waking moment I am constantly obsessed by becomming financial independent. It is excrutiating!
I spend a lot of my time reading already retired people's blogs and fantasizing about myself becoming retired.

The mere knowledge that it will take me 12 years to retire by saving part of my salary is a living nightmare. I want to retire now!
Therefore I need to speed up the process. I need to get my own business up and running so I can earn some semi-passive income from my hobby.

[KMMK]

Every waking moment I am constantly obsessed by becomming financial independent. It is excrutiating!
I spend a lot of my time reading already retired people's blogs and fantasizing about myself becoming retired.

The mere knowledge that it will take me 12 years to retire by saving part of my salary is a living nightmare. I want to retire now!
Therefore I need to speed up the process. I need to get my own business up and running so I can earn some semi-passive income from my hobby.

I've so been there. I didn't want to work another 10-13 years for the corporate overloads, so I managed to save enough money and reduced my expenses enough so that I could make up the difference with half a minimum wage job (if it came to that), then I quit to work for myself.

Here's my journal: http://forum.mrmoneymustache.com/journals/my-semi-retired-random-life/

[velocistar237]

Here's a post about nano businesses from Brave New Life:

http://www.bravenewlife.com/02/nano-businesses-bridging-the-financial-gap-for-early-retirement/

There's a relevant exchange in the comments:

Mikek says:   
February 19, 2013 at 7:20 pm   

Very timely article. One of my goals for 2013 was to earn some money from a ‘side hustle’, but maybe I should try to make it a ‘nano-business’ to try and whittle down the time until we’re financially independent! It’s just so boring to wait for the assets to hit that magical mark (currently ~5 years away)!!

Brave New Life says:   
February 20, 2013 at 12:47 pm   

Something I learned the hard way while in the same position as you: Don’t fall into the trap of living in the future. Once you’ve identified a target date for FI, it’s an easy mistake to start counting down the days and to cease living in the present. And that’s no fun at all.

After a year or so of letting that mistake get the best of me, I’ve finally returned to a world where I live in the future when it comes to my financial life, but the rest of me can happily relax and enjoy the present.

[Cookie78]

I feel the same way today. Some days are better than others. I keep bumping my FI date closer and closer and it still feels like it's way too far away.

It also feels very precarious. Like I'm scrambling up a steep cliff and could fall back to the bottom, or half way down the hill, at any moment. I can see the top, but it's out of my grasp. One wrong move, or an earthquake, and I'm starting over from the bottom.

I just want to be there already, safe at the top.

Here's a post about nano businesses from Brave New Life:

http://www.bravenewlife.com/02/nano-businesses-bridging-the-financial-gap-for-early-retirement/

There's a relevant exchange in the comments:

Thanks for sharing. I keep trying to think of ideas for a business like this. I don't know if it's a self-confidence thing or what, but I can rarely come up with anything that sounds like it is something I could do. And when I do think of something I hit road blocks right away that stop me from proceeding.

I need to work on that.

[lemanfan]

How hard are you willing to work for this?

[Cezil]

I'm just starting my journey, but I can't wait to get there, however long it takes...!  Hmm nano business ideas that I have a shot at..

[lordmetroid]

Here's a post about nano businesses from Brave New Life:

http://www.bravenewlife.com/02/nano-businesses-bridging-the-financial-gap-for-early-retirement/

There's a relevant exchange in the comments:

Mikek says:   
February 19, 2013 at 7:20 pm   

Very timely article. One of my goals for 2013 was to earn some money from a ‘side hustle’, but maybe I should try to make it a ‘nano-business’ to try and whittle down the time until we’re financially independent! It’s just so boring to wait for the assets to hit that magical mark (currently ~5 years away)!!

Brave New Life says:   
February 20, 2013 at 12:47 pm   

Something I learned the hard way while in the same position as you: Don’t fall into the trap of living in the future. Once you’ve identified a target date for FI, it’s an easy mistake to start counting down the days and to cease living in the present. And that’s no fun at all.

After a year or so of letting that mistake get the best of me, I’ve finally returned to a world where I live in the future when it comes to my financial life, but the rest of me can happily relax and enjoy the present.

Thanks for the post, that is one hell of a nice read. I feel a lot better, my confidence and future prospect were both boosted significantly.

I already have a small nano-business in the form of a Tabletop Wargaming Boutique, which essentially covers my cost of the hobby and then a little extra and I am in the process of creating another business partially to ease the administrative workload of the boutique and to offer these tools to the general public.

I decided that I am definetly not going to forsake the present for the future. Once my mind was set on this idea, it felt like a huge burden was lifted off my shoulders. I am going to let my financial assets accumulate without worrying and I am going to enjoy every day of the present and not let the financial accumulation take over my life.

How hard are you willing to work for this?

I am working real hard to get financial independent as soon as possible. As hard as I can muster I would say.

[lemanfan]

If you're willing to work hard, then you can do it.  Start a company or two.  Turn them into ATMs, or build value and sell them for FU money.  It's not always easy, and you'll probably doubt yourself a lot during the way.  You'll need to complement your current skills with a lot of new skills, but it's worth it.

If you like podcasts, please check out www.eventualmillionaire.com for my favourite entrepreneurship podcast.  Follow the links and read the books mentioned. 

If you prefer reading books, here is a starting point: http://eventualmillionaire.com/10books/

There are also plenty of other resources out there, and the main thing is to GET STARTED!!!     

[babysnowbyrd]

Thanks for sharing. I keep trying to think of ideas for a business like this. I don't know if it's a self-confidence thing or what, but I can rarely come up with anything that sounds like it is something I could do. And when I do think of something I hit road blocks right away that stop me from proceeding.

I need to work on that.

I know some people can build up "ATM" businesses, but I sure can't. They take a LOT of time and work and time is something I'm pretty short on. Especially if it's for things I'm not really into. I did start a home-based business as a travel agent. It's tough to start a business though, and I'm trying to be frugal about my choices for marketing, business structure, etc, but I will still have a net loss this year, which was not the point of starting the business, but I'm pretty optimistic at the moment. I have just enough clients for me to handle at the moment, and many are planning future travel, so if I do this right, then I should start getting more repeat business and referrals. As I get better/faster, I'll be able to take on more clients and I think it can be profitable.

Someone posted about nano-businesses. I think I could maybe add something like that on. I have a BUNCH of antique frames. I'm sure I could sell them, or make some type of vintage-looking craft and sell them via facebook/vendor fair. It would be a one-off deal but could be fun and profitable.

[Uncle Scrooge]

Every waking moment I am constantly obsessed by becomming financial independent. It is excrutiating!
I spend a lot of my time reading already retired people's blogs and fantasizing about myself becoming retired.

The mere knowledge that it will take me 12 years to retire by saving part of my salary is a living nightmare. I want to retire now!
Therefore I need to speed up the process. I need to get my own business up and running so I can earn some semi-passive income from my hobby.

Are you me? Because I do the same exact thing.

[Bob W]

Virtually anyone "obsessed" should be able to retire in 2 years or less starting with zero investments.   Lucky you,  if you have 50K you are already there!

In our area for instance you could buy an inexpensive house for 75K with a $420 payment and $120 utilities.  Phone $13,  Car -- nope,  food - 90,  healthcare -  ACA (basically free on no income),  Misc 80.   Total monthly nut = $733  annual = $8,500.    It is a very nice booming college city of 150K in the Midwest.

So then -

1. Use the techniques mentioned on doctorofcredit.com to net $4,000 in free money each year,  leaving you only $4,500 needed in additional income
2.  Use the dual momentum strategy to up your SWR to 6% (milesdividendmd.com)
3.  Travel for virtually free (richmondsaver.com)
4.  Agree to work for an  average of 5 hours per week at $10 per hour at a job you love = $2,500 annual.
5.  Find your SS income number at age 62 and plan to make your money last only till then.   (I'm guessing it will be twice your expenses at age 62)
6.  You will only need about $50,000 in order to do this --- (6K for the down payment 10K for home upgrades  and 34K to SWR 2K per year)

Your lifestyle will be better than 99.5% of the people on the face of the earth.

In the end you will be bored to tears and end up working more than 5 hours per week.  You will probably even keep your paid off car and spend $100 per month on insurance/taxes/gas.  You'll probably take free classes,  learn to play and instrument and become a bit of a hippy.   

I really don't think you are obsessed enough at this point.    If you want this so bad,  just do it. 

Start working that doctorofcredit.com site today.  Start a part time job and save the shit out of money.  Cut your expenses to the bare minimum and then some.  Keep your total housing costs below $400 a month.

You go lordmetriod!

(ps.  I think the hardest part about lifestyle change is not the money but the relationships.   Most people find it hard to develop real relationships when changing financial gears drastically.  So I highly recommend you become obsessed with how to make friends who you love as well)