How to create financial security going solo. Part 3.
Hello Friend!
$804/month.
That was the true investment standing between me and personal freedom.
But before I go there, this is the final part in a series on creating financial security as a solopreneur. Part 1 was about determining your value in the marketplace. (It’s higher than you think.)
And Part 2 was about products & services that actually make you money versus what’s pure hype.
Now, back to $804/month.
Like most people considering going out on their own, I kept hitting the same single barrier. Health insurance.
I had built up this drama in my head that I needed an employer to access affordable (and premium) healthcare. So I did what most people do… I just stayed.
Stayed in a place that wasn’t fully leveraging my talents and strengths. Stayed where my personal freedom was consistently stepped on in a 7-day/week C-level job. And stayed where I was always just one bad earnings call away from losing everything.
It sucked. And, it was stupid.
Unchecked limiting beliefs persisted in my head until one day, I did the research. I went out to the healthcare marketplace and searched for the truth.
$804/month more to get like-for-like coverage.
My health insurance premium is $1,552.96/month. This includes a $1,500 deductible and an out-of-pocket limit of $8,500. This is a “Gold” plan by my insurance provider, Kaiser Permanente.
Yes, my premium almost doubled. However, this was a small price to pay for freedom. To be able to work on what I want to work on, with whom I choose to work, and when I want to do that work.
I can tell you that at 53 years old today, $804/month was a small price to pay. And it might be the same for you.
When Is Enough, Enough?
The final topic I want to cover in this financial security series is this: our income is less important than our expenses. Being able to separate needs from wants will help us truly determine how much income is required to safely step away from the corporate treadmill.
As I’ve mentioned in this series, one of my businesses (People Before Things, Inc.) has been an 8-figure platform for me. The income levels far exceeded what I expected when I was squatting in the basement, hatching my launch plan, and fearing the worst! All that worry for nothing.
But for the last two years, I’ve been really focused on answering when is enough, enough. Slowing things down. And I want to share this with you in very real, practical terms.
In 2024, I wanted to dial some things back and measure its impact in my day-to-day life. At year-end, here’s what I earned: $619,136.95
More importantly, here’s what my household budget told me: That’s way more than you need.
While I scaled back the number of hours I was working, I still worked 5 days/week.
Yes, it was way less than what I worked as a C-level. But I wondered: what if I scale this back even more in 2025?
I decided to finish my second book and carry a lighter client load.
At the end of 2025, here’s what my income looked like: $521,768.04
The household budget still looked great. And here were the practical realities of scaling back.
I do client work from about 9am - 3pm on Monday-Thursday. Friday-Sunday are “choose your own adventure,” and I only do what I want to do. Period.
A few other details that help provide context. My wife and I outright own our home. We’re a one-car household. Also fully owned.
In fact, our biggest monthly expenses are health insurance and home improvement projects.
But our discretionary income is plenty.
I’m being open and transparent about all of this for one simple reason:
I want the same for you.
I want you to experience personal and professional freedom. A life on your own terms. And one that you’ve worked your whole life and career to earn.
Double-check your assumptions on everything. What you’re worth in the marketplace. The various ways you can make money. And whether the true cost of being free is worth it to you.
You can do this. I believe in you.
Your coach,
Chris
P.S. If you’re ready to take the next step and design your own business, you don’t have to build it from scratch. Early-bird enrollment for the next Business Studio cohort is open! We offer tools and coaching to help you build a profitable business based on your strengths and expertise.
Whenever you’re ready, there are two ways I can help you:
The Unignorable Business Studio: a 10-week design sprint. I help a small cohort of 12 answer the question, “If not this, then what?” We build your message, offer, and sales/marketing channel for your solo business.
Schedule a Kickstart: let’s talk about what you want to build or are wrestling with. If you crave autonomy and professional freedom, let’s map your next move.
