Tuesday, July 7, 2009

The Playbook

I've had a desire to change careers for several years however, it's only been the last 2 that I've actually had a plan in place - I call it The Playbook. The Playbook is a written plan to help ensure that I'm doing the proper due diligence and mitigating the risks that are scariest to me. Since developing the playbook, there have been several interruptions such as $8K in plumbing repairs! Have I gotten frustrated, absolutely! Have I wanted to just throw in the towel and stick with my corporate gig, oh yes ma'am. BUT, something inside of me just won't let me give up, even when I want to. Secondly, as long as I continue to see progress in The Playbook, I find the encouragement needed to get over those frustrating moments.

A glance at the top three plays, each of which could easily have their own separate post:

  1. Liberation fund - the lib fund is not the e-fund, it is a separate savings earmarked for the transition. The goal is to have 6 months of living expenses.
  2. Start today - I reduced my schedule at the corporate gig to part-time, which gave me more time to work on the desired career. ***There will be a separate post dedicated to this play.
  3. Health insurance - After researching the insurance options for the self-employed, I realized that it made sense for me to give up the PPO and get a HDHP so that I could begin building up an HSA. The HSA comes with me when I leave the corp gig. Based on the top 3 insurance plans that I'm looking at, I should have enough money in my HSA to cover several years of deductibles if I continue with high deductible plans ... which are generally less expensive.

Is there a goal that you're working towards? What's in your playbook?


Anonymous said...

A much needed & effective tool I think. We all need a playbook in order to press on! Great Ms Money Chat...keep'em coming!

Mr. Frugality

RTC said...

Well thought out plan! I can't wait to hear more.

Shtinkykat said...

Daaaang, girl. Your Playbook sounds amazing. I can imagine that the Playbook allows you to envision your destination and to plot out path. I just love the Liberation Fund name.

MoneyFunk said...

Wow, you get to work part-time at your corporate gig? That's so cool. I'm sooo jealous. LOL.

That is great that you keep working on your playbook. I definitely need to write the one down in my head. I might just accomplish more this way.

I can't wait to hear more!