This is what they don’t tell you about quitting your 9-5 job (getting real)

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*All content on the Robuilt YouTube channel reflects my own opinions and should NOT be taken as legal advice, financial advice or investment advice. Please seek out the guidance of professionally trained and licensed individuals before making any decisions. Some links in the description may be affiliate links.

[Chopsyochops]

I have a better routine when I am self employed. I find it really difficult to be in the 9-5 and having to speak to so many people. I really dislike having someone else dictate my routine and having to work hours set for me. I am trying to work employed but it’s not sitting right with me.

[philmarsh]

"You have to work" The difference is that hard work is often punished in big companies whereas hard work can be rewarded in small companies and your company.

[eng]

My husband quit his corporate job 5 years ago and started his old business. At the beginning it was so tough for him. But he was so patient to grow and had faith in his decision. Finally, it really paid off, he has more flexibility and earned much more.

[vicherd]

YouTube video making is secretly therapy for many creators. It's like a really complicated version of a "here are my thoughts" tweet. That's what videos like these are. It helps many people frame their thoughts from messy facts and opinions into a digestible story line.

[rineilperez]

Great perspective! I have a 150k job rn and I’m still trying to work my butt off to build a side hustle that currently has 0k per year. Thanks for the advice and motivation man!

[CYNEMICAL]

Hey Rob! So happy you posted this video- it was just what I needed today. Two months ago I started laying the ground work for my airbnb business, and am now juggling that with my 9-5. Eventually I want to build up enough revenue from the 'side' hustles until the the day I can live 100% self-employed. Thank you for the inspiration and encouragement!

[Captainimerika]

Omg! Someone who finally understands my struggles, lol. The financial (the 2 year wait as well as getting irregular income in large sums) and social impacts really hit me this year, but if we can survive this time, we can do anything! =D

[lucassalazar]

Thanks for sharing all of this. Too many people don’t like to expose the nitty gritty of life. This is refreshing to see some of the things we all struggle with.
Thanks

[KC-ymuk]

THANK YOU!! OMFG THANK YOU for talking about the struggles of being self-employed, of 1099s, and of complicated taxes!! Omg I cannot emphasize enough how much you need to plan for taxes ESPECIALLY if you made bank on investments one year but not the next. Estimated taxes are no joke. Uncle Sam dgaf if you lose money or make less the next year - those estimated taxes still need to be paid. And then time management is a whole other thing.

Personally, I've been self-employed for a long time and I find it works better for me because I'm more of an introvert. I work well with others and in groups but I don't enjoy it much. However, if you work solo, which I do, when times get tough - it's REALLY tough. And it can be difficult to figure everything out alone. You can't turn to a boss or colleague for a solution because YOU are the boss and need to figure out the solution. And if it's a financial hiccup, you need to figure out a way to come up with that money or else.

It's also hard because a lot of people won't understand your struggles. They hear self-employed and they assume you're making bank and living the life because you have no boss. Uh, no. 60-90 hour work weeks are the norm and most entrepreneurs also take on all the risks as well. All of this can lead up to a lonely, draining, and stressful mess. And when I try to explain this to people, they either don't get it, don't want to listen to it, or it takes hours to explain.

I'm not trying to dissuade people from pursuing this path or saying that being self-employed doesn't come without benefits. There are just a lot of cons that need to be considered as well and you really hit the nail on the head with this video. People who want to quit their 9-5 should really think about what their goals are, how they can achieve it, and if this laundry list of results/responsibilities is what they're willing to take on. And if so, what steps can they implement now so that, when things get a little crazy in the future, they have something in place to help.

Anyways, off my soapbox. Just wanted to say thank you because bruh- I feel so heard rn and it's a great feeling. And we haven't even spoken to each other 😂

[Keefus]

Such a great channel. We're about a month away from finishing splitting our first home up into a bi level to rent the upstairs three rooms, all thanks to the spark we've received here. Lookin forward to sharing our progress and we will use your reference code! Thanks Rob!

[ArtofServer]

Like someone else mentioned, you can have your company pay yourself a regular W-2 salary. But you can also qualify for a loan based on your assets; it's a process that is almost never advertised because the vast majority of people don't use it. The person you speak to at whatever financial institution may also not be trained on that so you might have to ask for someone else familiar with asset based qualification process.

[NolanGouveia]

This dude just keeps it real. Trying to remember to keep it light and show that personality more in my videos 🙏👊

[rineilperez]

Thanks for covering this often un-talked about issue of "always being on" as an entrepreneur. I just started my youtube channel and I'm starting to see what you mean when I catch myself working on this on every spare moment. Keep up the great content, you inspire budding creators like myself!

[josephcacciapaglia]

I went through a similar issue a little over a year ago. My real estate agent business got to a point where I was making significantly more than I needed to, but I was also working way more than I needed to be. When I sat down to make my annual goals last year, it was the first time that I ever consciously decided to work less and do a little bit less business. It's been one of the toughest goals I've made, because I can't seem to shut it off either.

[arynmcnichol]

You were my YouTube addiction while on maternity leave. Going back to work, but I've started researching good property investments in CO and hopefully this time next year my husband and I will have started our own short term rental endeavor. Looking forward to being able to help my mother sustain a real retirement. Thanks Robuilt and well done on all you've accomplished! (This is the first time I've ever liked and or subscribed to any YouTube channel. You rock!)

[LeoOlanski]

I appreciate your candor and your wit in these late night videos.

[busbae]

Definitely learned what to do/what not to do. Things that I hadn’t even thought of! Your videos are so informative!

[carolewarner]

Had to laugh. Was diagnosed with pretty severe ADHD myself, and often am up working at 1 or 2 in the morning too! It seems like I can't go to sleep until I'm totally exhausted and collapse into bed. 😂😂😂

Great video pointing out a lot of things that people who've never been self-employed think about or even know. I became self-employed back in 1983, and self-employment tax really kicked my butt that first year, as did not saving for taxes! Then the following year I think I got hit with some kind of penalty for not paying estimated quarterly taxes since I already had a year of being self-employed (who knew I had to do that)? And maybe it's the ADHD, but budgeting is a REAL struggle even today. But then, so is working for the man IMHO. Anyway, thanks for another valuable video.

[janscilipoti]

Yeah…the bookkeeping complexity of being self employed was a surprise. Takes so much time. And you’re right, such a drag to work with lenders! Their world is set up for W2 homebuyers. The unpredictability is a big deal too, like short term regulations that affect your ability to rent your properties. There’s a lot to be said for keeping the job!

[iaap]

This is a very reasonable advice. I know only 3 ppl who's actually down to earth and come with realistic advices.
I've learned a lot from you.