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May 07, 2019 19:06:45

Re: 5 years from now

by @basilesamel PATRON | 442 words | 209🔥 | 227💌

Basile Samel

Current day streak: 209🔥
Total posts: 227💌
Total words: 93521 (374 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.

From Basile Samel's collection:

  • 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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