In my previous entry, I introduced the term “vocation gap” to refer to the all too common phenomenon of having a livelihood and vocation misaligned. There are at least seven approaches to closing this gap: Going all in Accomplishing financial independence
One thing I feel called to add is the blending and stacking of these strategies. Perhaps that falls under the idea of staying nimble. For example, at this time I have some writing patrons, coaching clients, and am living with family.
In addition to this, for some months I worked 20 hours/week for a startup remotely. This remote work was preceded by a month on site to establish trust and a working relationship. I imagine this would fall under a new list item like gig work. Is there a term for gig knowledge work? I guess some people refer to that as consulting, but plenty of consultants do not see themselves as gig workers.
Also I think worth noting is geo-arbitrage. Assuming you can get a remote job and are willing to make a shift, moving can be a game changer and doesn't have to involve living below your means. For example, much of the year I lived in Brazil, paying $250 USD for a room with an ocean view. This isn't possible in America.
Thoughtful, practical, useful. Thank you Peter for exemplifying practical philosophy that manages to avoid all the self help bullshit we are awash in these days.
Well said! This is reminiscent of Ben Franklin's Poor Richard's Almanack, though definitely not coming from his 18th Century perspective. I see my own path reflected in your writing; the stoic family living below their means, the ability to eat glass, quitting toxic workplaces, starting small independent business ventures, abandoning the small business and returning to wage slavery when it's advantageous, only to quit again when the employment turns sour.
The term Fuck You Money definitely applies to me; with only a couple hundred thousand dollars of home equity under my belt, my family's in a much stronger position to say Fuck You to toxic employers than most of our Millennial peers. I've often thought that Poor Richard's needed an update, and this seems to be a good start. Will now go back and read your previous chapter.
Brilliant. Complex does not equate with confused. Well done. Will share around, especially with young adults in their beginnings
Thank you, Gregoire!
Very insightful compilation, as always.
I am reminded of the 5 Levels of Financial Freedom Calculator Spreadsheet, where you can calculate exactly how much you need to achieve:
1. Financial Security (covering basic needs),
2. Financial Vitality (comfortable lifestyle with extras),
3. Financial Independence (enough assets to potentially stop working),
4. Financial Freedom (afford significant luxuries and choices),
5. Absolute Financial Freedom (virtually unlimited financial resources).
https://docs.google.com/spreadsheets/d/1B2jDZp6ixeuC0tBdcN7RQPfVk0GMbEc4zTDUG8NYAGQ/edit
You can duplicate the sheet to fill in your own numbers.
Why are these numbers good to know?
“If you can’t measure it, you can’t manage it.” - Peter Drucker
Awesome and valuable read.
Thanks, Alexandra!
One thing I feel called to add is the blending and stacking of these strategies. Perhaps that falls under the idea of staying nimble. For example, at this time I have some writing patrons, coaching clients, and am living with family.
In addition to this, for some months I worked 20 hours/week for a startup remotely. This remote work was preceded by a month on site to establish trust and a working relationship. I imagine this would fall under a new list item like gig work. Is there a term for gig knowledge work? I guess some people refer to that as consulting, but plenty of consultants do not see themselves as gig workers.
Also I think worth noting is geo-arbitrage. Assuming you can get a remote job and are willing to make a shift, moving can be a game changer and doesn't have to involve living below your means. For example, much of the year I lived in Brazil, paying $250 USD for a room with an ocean view. This isn't possible in America.
I definitely agree being nimble here involves blending and stacking these approaches.
Thoughtful, practical, useful. Thank you Peter for exemplifying practical philosophy that manages to avoid all the self help bullshit we are awash in these days.
Well said! This is reminiscent of Ben Franklin's Poor Richard's Almanack, though definitely not coming from his 18th Century perspective. I see my own path reflected in your writing; the stoic family living below their means, the ability to eat glass, quitting toxic workplaces, starting small independent business ventures, abandoning the small business and returning to wage slavery when it's advantageous, only to quit again when the employment turns sour.
The term Fuck You Money definitely applies to me; with only a couple hundred thousand dollars of home equity under my belt, my family's in a much stronger position to say Fuck You to toxic employers than most of our Millennial peers. I've often thought that Poor Richard's needed an update, and this seems to be a good start. Will now go back and read your previous chapter.
Yeah, I hear you. Since leaving the 9-to-5 world, I've probably stumbled my way through most of these myself.