Name for anxiety going from employed to self employed?

Question

I recently lost my full time job. The thing is we have a business that's already thriving and already replaces my full time salary. So, we decided instead of me trying to find another full time job we should just go all out on our investment business. Aka self employment.

The thing is we have both been conditioned to feel secured with a full time job. Now that neither one of us has a full time job, I feel really anxious. The math works out. Our rental income is enough now to replace a full time job. We have a lot of cash stashed up. We have the means to get lots and lots more rental properties. And yet we still feel really anxious that neither one of us has a full time job.

Is there a name for this type of anxiety?

Jim K. · Answer

@L N.

Feels like you're choking sometimes, doesn't it? Like it's on the verge of triggering the vomit reflex.

I had a discussion once with a very pretty young woman who was raised competing in various rural beauty pageants before she finally went to college in the big city. She felt she HAD to be in a relationship all the time. It was incredible how she used exactly the same metaphors about her anxiety about being without a man that I used about being without a job. That was how she was trained to think about a man, just as that was how I had been trained to think about employment.

I too agree that this experience is such an omnipresent part of our contemporary existence that it should have a name, should be identified and studied as a major workplace-related psychological phenomenon. But it isn't, and it isn't going to be. Corporate America quietly makes a great deal of money off the fact that we all suffer from this anxiety. The less we think about the effects of aberrant psychological neuroses in keeping us slaving at out miserable jobs for bosses who are just as or even more miserable than we are, the more likely we are to stay on the hamster wheel of debt, credit, and overspending, locked into our jobs with no exit in sight.

Lam N. · Answer

Can I ask how many units did you have before you were comfortable?

We currently have 5 with tenants. Just bought our 6th and in process to acquire 6 more as a bundle.  So by the end of this year we could possibly have 12 rentals properties.

Edit.

So far, our net ROI with the 5 current rentals is about 30%. Trying to maintain it with the new properties.

Lam N. · Answer

I guess I'm surprised there isn't a name for it. Most of us were raised to believe that working for someone else is the only way to live. It is ingrained on us. We are suppose to go to school, get good grades, work for someone else, and get a gold watch when we retire. Surely, I'm not the only one feeling this type of anxiety straying from the norm?

Judy Parker · Answer

@L N. Same here!  I have awesome rental income from my five houses and four commercial buildings, yet I still feel anxiety about losing that "full-time job with benefits," even though I make so much more money with the investment properties, that my former bosses are all jealous of me.  I love having freedom and flexibility to work whatever hours I choose.  Grow your real estate business!  Best of luck!

Christi Hawkins · Answer

@L N.  The feeling is named "Excitement"  if you're really lucky you will feel like that for a long, long time and you'll never "work" a day in your life. Congratulations, Enjoy every minute and remember to breathe!

John Teachout · Answer

After spending 20 years working for a non-profit, we resigned and started out as self employed rei. It was a couple of very lean years as we did not have anywhere near enough units to live off the cash flow. We spent the capex, maintenance funds, reserves and all the other money buckets that prudence would have left untouched. As we added properties and got them renovated and rented our situation gradually improved. We got a HELOC on our primary which provided an emergency fund and also took a private money loan to help acquire additional property. We are now (less than 3 years) in the black and enjoy being in control of our schedule. You're in a way better position than we were so just enjoy the ride, you'll be fine.

Chris Morin · Answer

@Lam N.

Did the same thing brother. Left a government job after 14 years to go self employed.  The anxiety will always be there. As you walk with God it lessens, and at the same time you gain confidence to move on to the next adventure knowing He’s your parachute!  (Yes that includes investments, he’s been a part of all mine) Take care!

Name for anxiety going from employed to self employed?

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