I noticed many people have many different explanations on what it means to “Escape the Rat Race”. My definition is simply when one becomes financially independent and owns at least 95% of his/her own time. Why 95%? It has to do with responsibilities that come with managing your investments. Although I knew I could make my exit earlier around the age of 32 I decided to wait another 5 years before the exit for few key reasons. What were they?
- Create a passive income source that grows 3-5% year over year(YOY).
- Income must be able to maintain your current life style by a healthy margin.
- Net worth must increase YOY.
It is a very liberating feeling but I do feel I must remain disciplined so I do not make the wrong decisions that possibly can send me back into the race again. It has only been a year but looking back I can see the dramatic increase in the growth of my self-development. I feel like my appetite for knowledge has been liberated as well. I created a simple chart on what I feel has changed in my life.
What’s fascinating is to watch your net worth grow even after you have exited the rat race. Of course, I did plan for this but it does have a powerful effect on you to remain disciplined keeping track of your progress month after month. I believe having a visual record of your progression towards any goal has a profound and powerful effect on the human mind to help keep that focus when needed. I removed the dollar amounts because I am not comfortable sharing such private details yet. What are your thoughts? Exciting times!
Wellcome to family :)
Thank you very much! I am excited to be part of the community indeed! :)
Welcome to steemit
Welcome to steemit family! Good luck! I am sure that you will fully enjoy your journey here:)
Thank you so much! Love to be part of the steemit family!
Hello @insidelook! Welcome, and I hope that you will enjoy steemit:)
Thank you!
I want to get out of rat race too! Nice job! :D
Im sure one day you will~ :)
Nice job
Thank you!
I gave you an up-vote. It would be great if you could return a favor. Please follow me if you like and we can share posts and up-votes and help build our profiles.
Thank you!!!
Thank you very much! Will do! :)
Thank you too!!!
Welcome to steemit, Congratulations on escaping the race at such a young age, I've got such a long way to go to even contemplate it yet 👍
Thank you very much! I hope we can all learn together!