Tag Archives: consulting

Update on Life after hitting $500k and losing my job

My current psychologist is – interesting. She is unlike any psychologist I’ve had in the past and at this point I’m seeing her because she’s actually covered by my insurance at $25 a session and that’s not much more than the cost of a movie for pure entertainment value. I’ve only gone to three sessions with her thus far, but she is, in a very odd way, helping me work through my issues.

We are culturally very different – she’s an Indian who was a trained engineer, so she just approaches life quite differently. For instance, today when I shared that I was disciplined with a belt in my childhood, she mentioned that it’s normal for boys to be hit with a belt and not girls, and I stared at her and explained that I think that must be a cultural norm for Indians but not in the U.S…

Anyway, she has a very strange way of telling me how strong I am whenever I provide information about doing something in my life that isn’t wallowing in depression, and she always has her head slightly cocked to the side with a slight crazed gaze in her eyes, just a bit too intense in a room with high ceilings, bright white walls and two chairs. But I’m rolling with it… because I need help. Because I’m depressed and anxious and really unsure how to make life work.

I did have a pretty big breakthrough today – but she didn’t catch it or care. I said I had a drinking problem from 2001 to 2014. This is a pretty big deal as while I’ve admitted to drinking too much at parties and such before, I never fully admitted that I had an actual PROBLEM with alcohol, and for so long. This stemmed from her asking me the standard doctor question of “how many drinks do you have per week.” I answered, in my typical I don’t know how to answer that question fashion, that it’s either 0 or — too many on one night. I haven’t gotten that drunk in a while, not head spinning pass out drunk, so when I mentioned that I occasionally have one class of whiskey at night to go to sleep she seemed concerned (despite that this is much healthier than the once a week social binges that ultimately caused my DUI) — anyway, it felt good to say that I had a problem, to admit to this, and to really feel like I’ve distanced myself from this problem despite partaking in social drinking on occasion. Maybe I’ve just grown up. A little bit.

While I’ve grown up in some aspects of my life, I haven’t in others. I’m not sure what to do about this job situation, per the usual, but now that I’m back from my trip and looking at my bank account, I am tempted to jump into something with a consistent paycheck. I have one freelance project that may turn into something ongoing, but that’s still not enough to cover the cost of life – rent, food, health insurance, etc,  and having a child. There are recruiters reaching out to me about jobs in a position I’m qualified for on paper but don’t want to fill, and there are jobs I apply to that I don’t hear back from because I’m not qualified for them at all, at least on paper. It’s frustrating.

The best scenario would be that I build my freelance business quickly enough that it makes sense to be self employed for good, or at least long enough to gain experience in the areas where I actually want a full time job. But it’s also hard to turn down offers that pay $150k-$200k when I’m currently making $20k on unemployment and less than that if I start consulting, lose unemployment benefits, and it doesn’t work out. I can sell stock if needed, but I really don’t want to dig into my net worth if I don’t have to. I’m not in a financial crisis or anything, but the goal is to not cause one later in life when I’ve worked so hard to build a cushion.

I’m figuring I’ll have a full time job by October OR I’ll have 2-3 ongoing freelance clients that are happy with my work. Otherwise, I’m going to be in trouble. People tell me that I should just enjoy my time off but I have a hard time doing that.

September Networth: $77,434

Will I or won’t I hit my goal this year of a $100k networth? It’s possible. I’m at around $77.4k right now.

I need to be extremely frugal over the next four months to hit my goal.

As far as income goes, I’m expecting:

Potential September Income
Project A: $10000 pre-tax this month
Project B: owed $1600 + potential income of $3200 (pre-tax)
Project C: owed $300 (pre-tax)
Total: $14000 pre-tax… ~$9000 after tax.
I’ll prob spend $2000 this month on rent, food, insurance, gas, health, etc.

So if I can do +$7000 this month I’ll be at $84k.
That leaves $16k that I need to make in 3 months between Oct & Dec, or $5.3k per month after tax.
It’s possible for Project #C I will start a $5k-$10k per month contract for 1 month. That would help a lot! Project B will likely pay around $3200 pre-tax for part-time, though it’s not guaranteed. Project A is likely ending this month.
I plan to donate 10% of any income above $100k that I earn and 15% of all income above $120k, if I happen to earn that much, 25% of all income over $150k. It’s not much, but I like the idea of donating a portion of income I earn over $100k.