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May 07, 2019 19:06:45

Re: 5 years from now

by @basilesamel PATRON | 442 words | 428🔥 | 479💌

Basile Samel

Current day streak: 428🔥
Total posts: 479💌
Total words: 220650 (882 pages 📄)

Parent post: 5 years from now

Thank you for the mention @santoshguru , great writing prompt.

At first, I was tempted to talk about 200WaD. The thing is I have no idea if it will still exist. Most startups never go past a year, and even though I work every day on creating a sustainable business, there is no way I can influence the market by myself. This is why I decided to write about where I'm planning to be in five years from now on, because I can only have control over myself, not others.

In July 2019 I will celebrate my 25th birthday, and I promised myself two years ago I would dedicate my life to the pursuit of mastery. I want to be a full-time entrepreneur making his own tech products while contributing to solving important problems with my skills. Mastery is a never-ending quest for truth and excellence, I see nothing more fitting to my personality, nothing more virtuous: I find great honor and immeasurable pleasure in honing my skills to serve others.

This is why I want to be in a position where I don't have to worry about my material comfort by age 30, to chase knowledge and experience over money. In other words, I want to reach financial independence five years from now on.

Financial independence is mainly about decreasing your costs. My lifestyle is already designed for that: I travel the world, which implies I have few material possessions and less monthly expenses. I can live comfortably on $1000 per month.

The challenge I'm facing now is to create stable income sources. I work my butt off to implement a sustainable lifestyle based on entrepreneurship. If I fail to reach ramen profitability over the next year, and since I'm living on my savings, I will run out of money by the time I reach 26 and I will have to abandon all entrepreneurship ventures to get a job. Fortunately, all the things I'm learning now and the people I met on the road will allow me to earn a nice job in software engineering, preferably the remote kind.

If I reach ramen profitability I won't feel pressured to reach financial independence by 30, since I will already be doing what I want.

If this is not the case, I will aim to achieve a saving rate of 85% to be in a position to launch a new business in four years. A saving rate of 85% with a monthly burn rate of $1000 is equivalent to a yearly wage of $80k. It's hard to obtain but still realistic.

In all cases, I'm confident I'm growing useful skills and relationships that will benefit me for life one way or another.

  • 1

    @basilesamel - I can't believe you are only 25. Such wisdom and clarity. At 30 I predict you will be an old wise man with money to burn... :)

    I hope for selfish reasons that you will keep 200wordsAday. I am sure the tribe here can go on to do great things.

    Thank you for creating this wonderful platform.

    Keni avatar Keni | May 07, 2019 13:41:16
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      @keni You're welcome :) I might be forced at some point to quit working on 200WaD but it will remain available online, that's for sure. I'd love to be an old wise man though :P

      Basile Samel avatar Basile Samel | May 07, 2019 20:55:12
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