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When "Working" is No Longer a Must

Discussion in 'BlackHat Lounge' started by Elliot305, Jul 14, 2016.

  1. Elliot305

    Elliot305 Jr. VIP Jr. VIP

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    I'm in Paris currently having a hard time sleeping (due to time-zone change) and thinking about work. It's somewhat of an oxy-moron since I don't really need to worry about "working" anymore. I could take the next 10-20 years off before I would really need to find a job.

    I feel there's three important lessons I've missed over the last 9 years of doing IM: (1) having balanced success is very important, (2) networking is equally important in establishing future work and (3) purpose trumps money.

    I know most people would love to quit their jobs and make a bunch of money with little work, but at some point there would be a dead-end. Let's say the money has been made and now you can relax, but for how long? How long would it take you to feel uneasy about not working, even if you still had plenty of money left? How much would you spend on new toys or a new home knowing you aren't working essentially?

    I'm not talking about winning the lottery kind of money here...that's "fuck you" type money. I'm referring to whatever subjective amount you feel would be comfortable to live well for a long time. So you have that amount now, but for how long could you go before wanting to work again? This is where I find myself...thinking of new ideas, angles, methods, etc... It's not fiscally necessary for me to do so, but its somewhat ingrained.

    Quick little backstory about me, I grew up poor and started hustlin' in my early 20s. I don't consider myself materialistic at all but I've went down the road of buying some really expensive shit and didn't like the feeling after doing so. Instead of going that route, a lot of the money I made came to Vegas with me on weekend getaways. I could literally win or lose the cost of a home on these trips.

    My work allowed me to make money very fast without worrying about finding a real job. One project could give me "freedom" for 5-10 years at a time. All I needed to do was find the right one and scale. My work also came with risks of getting sued, but from my previous experiences in suing companies for a living, I didn't give a shit about that.

    I got into casino exploiting about 2 years ago just out of the fascination of beating the house at their own game. I've been a gambler all my life and couldn't resist the chance of taking them on. That work came with another kind of risk, so after awhile I went into consulting for them instead.

    So that was the past, now the present. I've been out-of-work for 2 months now and my brain is trying to find a way to get back to being productive. When you reach a level of earning, some projects aren't worth your time. Aside from that, my mindset has always been to look for home-run projects rather than "need to earn a paycheck" projects.

    My failure over the last 9 years is not striking a balance with having consistency and purpose for my work. I've only been in it to make money, not building real businesses offering value, not building relationships, just money. I have many things going on outside of work, so this post is only for work purposes.

    Hitting homeruns is great and will change your life, but you need to be prepared and have a plan of action for when you start itching to get a project going again (even if you don't fiscally need to). It appears I can't go a couple months without wanting to get back at it. For many people on BHW, this post may not strike a cord with them due to either not believing they'll achieve great success with IM or don't believe they'll face the same issues.

    Being hungry and staying sharp in this biz is key. Always scale when given the chance. Don't settle for small-time money if you can go for that homerun. When you reach a point where I'm at, make sure you have a back-up plan to ensuring you still have purpose and networking possibilities with whatever kind of work you do.

    Being "unemployed" sucks, even if I can retire comfortably for the next decade or two. I gotta get my ass back in it. You won't find me posting much on here, so my rep isn't as strong as others. But when it comes down to pure numbers of this forum, I'm probably part of a very small group on BHW that can speak about the above-mentioned intelligently.

    Peace.
     
  2. JustUs

    JustUs Power Member

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    Assuming that I believed you, which I do not, then what I could tell you is that you have to pick one or two things that you like and do those.

    As examples, I do not have to work, in fact I have not been employed by another for 11 years now. Unless the US government falls, my rent is paid, I have sufficient food, I have a few dollars in my pocket and bank, and as long as I reach the hospital with some life in me, the medical bills will be paid in full at no cost to me. I do not have a Lear jet in the driveway and do not need one. My car is 22 years old, but runs well and is well maintained with just over 100,000 miles (160,934 kilometers). However, out of need to do something other than vegetate, I started a lawn care business and I work on some difficult computer problems in the winter.

    The amount of money that a person has is completely immaterial as long as it is sufficient to meet their needs. You must draw a distinction between want and need. You may want a new car each day, but you only need reliable transportation. In fact, a completely paid for car will be more beneficial than having to make payments on a new car because you can then put those payments toward something else that you may want. You may want to live in a 30 room mansion, but all you need is a 1 bedroom home or apartment. The smaller unit will free up money in taxes and payments that you can then put toward something else that you need or want. You may want a twin Xeon CPU with 24 cores per CPU when a dual core CPU will do 99 percent of the work you do each day on a computer. Well the 24 core Xeon CPU costs about $8,000. You would need 2, which is $16,000 just for the CPU. Think of how many computers you could buy just for the cost of the two CPU's? Which do you need more? A functional computer, or a beast that you will not touch 1 percent of its capabilities.

    So yes, purpose is needed for that provides direction. However, absolutely huge sums of money really are not needed.
     
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  3. C.S.R

    C.S.R Regular Member

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    Though i haven't reached in your such position but i can understand the situation. I'm sure sometime you feel lonely & that gives you pain.
    You've given some tips emphasizing on networking, (i also have lack of networking ) thanks for that :) Actually I'm also from a poor family & still struggling in my 26th. Hope SOMEDAY will reach in your position ;) (economically)
     
  4. Elliot305

    Elliot305 Jr. VIP Jr. VIP

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    @ JustUs: Thanks for the feedback. It sounds like we live 2 different lifestyles but you made a good point about how the amount of money one needs is subjective based on their particular lifestyle choices.
     
  5. JustUs

    JustUs Power Member

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    Well... Thank you. It is my experience that the lifestyle choice of accepting what you have and making the best of it is emotionally more satisfying than wanting what may be unattainable. Rags to riches is about as common as being struck by lightening, and being struck by lightening is much more common than winning a lottery. Being in the right place at the right time to make large sums of money is about as common as winning the lottery.
     
  6. drogon

    drogon Elite Member Premium Member

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    If you are finacially sorted for life, there must be something you always wished you could do if you had the money to do anything. Eg, if i had millions in the bank, i would open a VIP club to chill and party in my home town!
     
  7. xmaster9911

    xmaster9911 Newbie

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  8. abhi007

    abhi007 Jr. VIP Jr. VIP

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    That's not the focus of this thread man...could have asked it on the main thread alone...

    I agree even though you have enough money to spare it always helps to network with other like minded professionals and socialize with them.
     
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  9. xmaster9911

    xmaster9911 Newbie

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    I never made that implication. I'm simply curious because he stated he was not being productive for a few months. I used his Adsense methods to make over $40,000.

    Google tightened things up, I'm curious if he got caught in the draft.
     
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  10. srb888

    srb888 Elite Member

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    You've the money, but are you really happy? Trade some of the first and get the second. Then tour the world, and some places will give you ideas to build an immortal life in hearts of billions! There are ideas which also bring money and happiness, but you need to find them inside the real pot of gold at the end of the magical rainbow. Hint: don't look at the farthest end of that rainbow tho. ;)

    BTW, no need to leave your IM successes behind. Build more of them simultaneously!
     
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  11. SEMWORLD

    SEMWORLD BANNED BANNED

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    I do think when someone start to behave that way, then you have some money that s lying to you that you are totally safe. There is always a false implication or feeling that money has especially when you get some huge amount than your normal one. I will urge you to work and save for the future so that you will have money working for you in various assignments.
     
  12. beingink

    beingink Senior Member

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    This is literally the thought that I was panicking about yesterday. I kept thinking to myself what if I succeed? Then what will I do, what will be my purpose, I am too young to get stuck. Then I remembered that I am far from succeeding and worrying about things that might not even happen anytime soon cause the reality is right now I am broke and in debt so I should probably get to work.

    The thought is leering in today too though, I am messed up.
     
  13. Asharvin66

    Asharvin66 Registered Member

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    I have always felt that i would invest in a buiness that brings in constant cash when i make enough money off IM.
    I would just start up the business just cause i can.
    Pretty simple.
    It may seem simple to me simply because i have not made up to $3000 after 2 years in IM tho.
     
  14. smlover

    smlover Junior Member

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    Hello classmates :), $13k here with Elliot's method, boy what a good ol' days :D

    Now I'm into white hat way and still struggling for $1k a month :D

    Nice read about your life updates Elliot.

    If I am in that position, when working is no longer an issue. I think I will go after things that I dream of. Like learning some languages, watching some movies that I can't before because of the time issues, honing my singing skill or maybe release some indie albums. And I think the most important thing for me, which is travelling with my families. I just got back travelling with my families, and oh boy that was really good moments, time well spent and I'm really happy.

    For now, back to grinding days again for me, I am targeting $10k a month now, I hope I can reach that amount soon :D
     
  15. Capo Dei Capi

    Capo Dei Capi BANNED BANNED

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    I was expecting a thread about passive income journey or goal.