Right before the pandemic began, I did a fun podcast interview with Andy from Marriage Kids & Money, a work-from-home solopreneur. It was nice to connect with another father of two young children in the online world.
Andy took a leap of faith at a very similar age as me in 2012. Although my main goal for leaving finance wasn’t to build Financial Samurai into a business, this site ultimately ended up generating supplemental income to help keep my wife and I away from work.
Now that I’m stuck at home, I’ve been spending more time understanding the online business world. It’s truly fascinating to learn what some people are doing nowadays to make money online. Their websites are slick. Their marketing strategies are focused. And hopefully they are making good money as a result.
If you’re considering becoming a work-from-home solopreneur, here’s Andy’s advice on how to make it happen.
You never know unless you try!
Becoming A Work-From-Home Solopreneur
Transitioning from full-time employee to a work-from-home solopreneur can be quite a big step for people to take. This is especially true as a young parent. Not only are we caring for our own financial and physical well-being but we’re also focused on protecting our spouse and children as well.
Thoughts about this big decision had weighed on me for the past few years as I found a side hustle that I absolutely loved. I started a podcast and blog called Marriage, Kids and Money after a bad day at work in 2016 and treasured every minute I could spend working on it.
At the same time, I was rapidly losing interest in my full-time career in corporate event marketing. I had been in the industry for over 15 years and felt I’d done a good job and climbed the ladder as much as I felt comfortable. It didn’t feel like there was much else I could do in my career or in the industry as a whole.
One of the glaringly obvious issues with leaving my job was that I was only making $30,000 per year with my side hustle and $180,000 with my full-time career.
Further, that doesn’t include all of the incredible benefits my employer provided like healthcare, dental, paid vacation, 401k match, an Employee Stock Ownership Program (ESOP) and much more.
So I had a choice to make …
Do I leave my cushy, well-paid, corporate job in hopes that I’m able to pay myself $180,000 in the future with my side hustle?
Or do I keep moving forward with my 9-5 career in corporate event marketing, keep pursuing financial independence and hopefully retire early?
After many discussions and encouragement from my wife, I chose to leave my career earlier this year. Here’s how I did it and what I’ve learned after 6 months as a solopreneur.