A lot of people, and I mean A LOT of people talk about passive income. Just take Pat Flynn’s blog and the massive amount of followers he has. To live off passive income is obviously the goal, but freelancing is a much easier way to escape 9 to 5 routine you have than trying to build up something on the side of a job that drains all of your energy.
If you live in South East Asia things are so much cheaper so you don’t have (nor want) to put in 40 hours a week. I now freelance about 20 hours a week, which keeps me well ahead of my bills, and free up time to work on other projects.
What i currently live off
Since I came here “my projects” has been more about surfing and partying, but I am having the time of my life which is what it is all about. I live a life here on Bali that I could only dream about a year ago. I do love programming so putting in them 20 hours is just great fun AND it gives you some structure in your weeks. Structure and discipline is what I struggle the most with, but creating a weekly schedule helped a lot with that. More about that somewhere else.
Pretty much all the work I do right now is through my previous employer. When I did quit my job (you don’t have to quit your job to ask this) I asked them if they where interested in that I continued working for them on a remote basis. I had to agree on a little bit less money and I don’t have all them insurances I used to have in Sweden, but I have this awesome cool life now instead. Your (previous…) employer would know exactly what he gets from you and if you did a good job he will pick you any day of the week. You will also be experienced in your job, which a new person most likely won’t be.
Even when cutting a little bit of money/pension/benefits it all that it still makes out so much better down here. Bali is not the cheapest place you can live in here in SEA but it is still way cheaper than back home. I have just started tracking my expenses this month, but I will end up somewhere in region of spending a third of what I do back home. And with that I am living a life way more luxurious down here.
What i will live off in the future (hopefully…)
I am now in the early steps of starting a new business (backed by my previous employer), which will be in consulting (the services make sense to the companies that work with this product) the product I used to develop. My previous employer will forward projects that is smaller and requires more administration than it is actually worth for them interrupting the normal daily work I haven’t sold anything yet, but I am contracted through August so I still have a bit of time to get this rolling without having any income gap. Europe is very quiet due to holidays right now so I will launch this officially in August.
I am invoicing 30 euro an hour to my previous employer and I will invoice 50 euro an hour for this new service (this is before the taxman has grabbed his share). Working 20 hours a week currently makes me 2400 euro a month, I won’t get anywhere close that through passive income in a near future. AND i have tons of time to work on my passive income!
Freelancing can be an awesome opportunity to take a huge step towards where your really want to be. Outsourcing some of your work is still great, but not everything can be outsourced very easy. If you are sitting in the position that I used to sit in your employer might very well be interested in something similar. Even if you hate your job, at least you could hate it on a nice beach.