Obviously enough to support the same or better lifestyle Take my situation for example... I support 5 ppl and live in Canada. For me to quit my job, my online income must be greater than 80K a year.
Obviously you need to earn as much as you need to live on. I want to quit as well. But I'm only getting 2$/day. That's not going to get me anything except a few sticks of candy
This is a great discussion. I left my 9-5 (technically 8-4) three months ago. I didn't leave it for AdSense, in fact - I had no idea what AdSense was three months ago. I left my day job to pursue independence as a Consultant in Web Development. I was pretty damn scared, but three months later I'm over it. I'm shaking the employee mentality for the more powerful entrepreneurial spirit. I now know that many people are in need of my skills and I can charge a premium to deliver -- it's an amazing feeling indeed. I discovered Google AdSense last month and immediately I was hooked. I learn new things every day and I have goals to create successful sites based on advertising. Right now I'm only making $1.00 a day, but for three weeks in that's not too shabby. Shaking the employee mindset (I need a corporate structure and people telling me what to do) has led to great success in a short amount of time. I have the confidence and drive to make anything work - I truly believe that. But I'm also not afraid to fail and admit it when it happens. This will only help me grow. Hopefully most of you are at or will reach this point soon.
To leave your day job, you have to earn more online than a day job. Because you are not sure of a monthly salary. You need to build an amount of money where you can live of in bad times.
This is true. Also, one need to take into account the cost of health insurance and other benefits that many full time jobs offer.
I left my day job as I was convinced that I would make enough online and now I am regretting each and every moment for that wrong decision. I didn't make a penny in last 1 month. Bunch of cheaters around. Cheers to all...
The lesson here is that you shouldn't leave your day job until you are consistently making at least your old salary. I only left mine when I was making more than my salary. That was 7 years ago. I now make about 8 times my old salary from the web, which includes Adsense but also includes affiliate programs, advertising, and a digital prduct sales.
i think one of the most important considerations is health insurance. if you want to leave your day job be sure you are earning enough money to pay for health insurance. $500 per month for individual 700 per month for couple 1000 per month for family
Check out an HSA program (high deductible). We pay about $220/month for family coverage with a 5k deductible, but ALL our medical expenses up to that amount are tax deductible. If you compare to a $1000/month plan, we save almost $800/month, or $9600 a year. Of that, we can put most of it (up to $5600 - which is tax deductible!) into a interest earning HSA account that can rollover each year and be used for medical expenses for the rest of our lives, or even for any retirement expense once we retire. I left my day job earlier this year. I made sure I was making well over my old job salary on a regular basis. I also made sure I had 6 months worth of living expenses socked away in savings just in case. So far so good... I'm still making more than when I worked in the office... and I am loving working from home, and having the flexibility to pretty much manage my time however I want!
Yikes.. Those are some pretty crazy rates.. Humana all the way.. I pay $269/mo. for me and my son with a $1000 deductible. The annoying thing about it though is I have to pay INCOME TAX on my out of pocket expense to pay for health insurance.. Like it is a benefit? Prior to this, I just paid out of pocket completely, ie, NO health insurance. To be honest, having no health insurance was better when it came to dealing with hospitals and doctors.. I've been sued twice since having health insurance over squabbles about who should pay for what... YMMV.
Very smart plan! You can also augment this with catastrophe health insurance for reasonable rates so you have the best of both.
I’m annoyingly close to earning ‘almost’ enough which, all said and done, isn’t enough (but is closer to enough than it is now – no, hold on, that doesn’t make sense does it? Lol.). For me, who believes in next to nothing as far as an afterlife or any such stuff is concerned, this life is for living and, if I have to work like ******* now whilst holding down a day job I enjoy about as much as a hole in the head then so be it because, one day, I’ll be rid of working for people I (in all honesty) often have little respect for and will be able to timetable my own time and do the things I want to do. I don’t need to be rich, I just would like to be ‘comfortable’ as time is in such short supply for us all and, though we may sell our time in run of the mill jobs we can never buy it back. I intend to get into a position where no one owns my time except from me and where I genuinely feel that my ceaseless dedication and hard work will be recognised (because it certainly isn’t in the job I’m in now). Certainly I genuinely bow down to those that have successfully made the transition – having worked my butt off for a year now I fully comprehend the work it involves. Soon, however, I will be joining your hallowed ranks even if it kills me to do it (though if it does I’ll be a little narked in honesty - but the wife can at least console herself concerning her loss with a new designer handbag per month and probably a new designer husband (she’d laugh at this herself – which perhaps I ought to find rather worrying)).
hehe.. I don't wanna leave my job.. because my adsense earnings cannot sustain my daily needs. I wish I could even earn $1000.00 monthly from adsense..
Hello everyone.. Just started with web development and adsense and planning to leave my day job once i hit 1k per month from all the online sources.