Back when we first started thinking about early retirement, or later on, our Fully Funded Lifestyle Change, we had ideas about what that life would look like in ALL the ways. We expected it would be a happy little family, with ALL the time to hang out together, we would/could have some income from this blog (lol, riiiight), we would/could have income from some yet to be determined adjunct positions, and or find some other income sources that would be fun, since we wouldn’t need the money. If all else fails, we could always “go back to work”. If not in oil and gas, then in teaching perhaps, or who knows, but we’ll let the “future SSC’s” figure that one out, if needed.

Well, the reality was a lot different. In less than 2 years after we initiated our FFLC, we were divorced and all of that planning went out the window. Well, not all of it. I’m positioned really well to be able to follow whatever type of work comes my way, I did get an adjunct position, and I’m working on developing several income streams in the background. Before you ask, No, none of those income streams are from public speaking engagements, or my book “How to Retire Like Me”, lol. With all of that in mind, my Mostly Funded Lifestyle Change (MFLC) has been interesting to say the least. One thing has been pretty certain throughout, is that planning on a return to your former industry is shaky at best.

In my case, I wasn’t ever really planning on getting back into oil and gas full-time. Sure, the money is uh-may-zing, and it’s enjoyable enough work, but it’s not that fulfilling from a personal standpoint. I also never planned/counted on being able to return to my previous salary level, bwahaha, I wish. That bridge crumbled almost immediately after leaving the industry. For perspective, when I left, there had already been a big wave of layoffs from 2014-15 crash and while a lot of those people left the industry for good, many are still out there scrapping for any job openings. I knew the job market would be tight if I ever did want to gain re-entry.

Also, with Covid and the general unpredictable nature of oil markets, the possibility of re-entry is all but gone. Most smaller companies are doing well just to NOT file for bankruptcy, unlike some larger companies that already have or are planning to file, like Whiting, or Chesapeake, as per their announcement this week. My former company is hanging on tooth and nail to not fold or be bought up, after a horribly poor timed and poorly executed acquisition of Anadarko. Remember how people talk about not letting emotions come into play when home shopping, car shopping, or shopping for any other major purchase? The CEO should’ve taken that advice, because the financial structure of that acquisition is the definition of overpaying, just to win the bid. Yay, you won… Long story, but definitely, nothing opening up there anytime soon.

With the kids being here in Oklahoma, I knew I’d be restricted to a smaller market, smaller companies, and less opportunity, even if I did try to jump back in to that industry. Fortunately, I don’t have a lifestyle that needs that outrageous salary, and all the trappings that come with it. What’s my plan moving forward? Well, here are a few of them that I’ve been working on, none of which involve returning to my old industry.

Adjunct Teaching

Yep, I am still teaching about petroleum geology, so that’s sort of kind of on the fringe of that industry, I’m employed/contracted through the school, so not necessarily. At $6k/semester, it’s not even AdjunctFI, lol. That’s been nice, and I’ve applied to some other positions, probably along with the other thousands of unemployed geologists now that the latest wave of layoffs is underway. I have heard nothing yet on any position related to using my degree, and that’s fine with me. I feel okay submitting lots of applications, even knowing that none will probably pan out to anything income producing. It helps me feel better, and that’s how I like to keep personal finance, “personal”. I haven’t seen my contract for the fall yet, and it may fall through, but I at least gave my preference for teaching delivery method (all online, meet at a certain time online, or Saturday teaching… booo Saturday) and am reformatting the course appropriately.

Department of Human Services (DHS)

I have an interview with DHS of Central Oklahoma this Thursday, to be a Child Welfare Specialist, i.e. a case worker. Do I have any background in this field? Meh… Not really. I’ve been a Court Appointed Special Advocate (CASA) for the last year and a half so I’ve been privy to the inner workings of all of this, more than when I worked oil and gas. But, I also have a BS, an MS, a heartbeat, and a willingness to do the job, so we’ll see how that plays out.

Why work at DHS? Well, CASA won’t be hiring this year, much to my dismay… So, I stepped over to the next best option and applied at DHS. No clue how it will turnout, but you can be sure I’ll be tweeting or writing about it as it does. For me, I’m in a unique position to be able to do a job I want, and not necessarily the first job that says they’ll hire me. That’s awesome, and a great opportunity for me to be able step into the social work space. I’m really excited about it!

Child Advocacy Center

Another income stream I’ve been putting energy towards these days is working on starting a non-profit that would be a place for supervised visits for kids in/out of the foster care system, or just divorced parents that need supervision with their visits. This would also be expanded over time to include more services, but the main service would be providing a comfortable, relaxed space that families can spend having quality family time, and not just visiting at a McDonalds, for instance, or a park, or someplace that might be harder to relax and connect with their kid. Who wouldn’t want to be able to just cuddle and watch a movie, or a tv show, or do arts and crafts, or play out back, or bake in the kitchen? IDK, but that seems like a way better more relaxed atmosphere that feels less like “visiting” and more like bonding time.

I lost my business partner for that plan. I haven’t lost her, but I’ve lost any access to capital from her currently, due to erm, life? It seems no one’s plans are working out as well as they thought, lol. I’m currently stuck at the board of directors stage, writing the charter, and all the paperwork accoutrements that come along with starting a non-profit. Also, I haven’t previously had access to cash, to buy “the perfect property” yet, but that is not the case right now. Woohoo!! Now I’m ready to pull the trigger, which leads me to the next topic.

What the hell is going on with real estate markets?! It’s as hot now as it ever was, at least around here. House pricing hasn’t come down, at all. Houses are on the market for 3-12 days before they go to pending and they usually sell for close to their asking price. It’s crazy. Until I find the right property, I’m still just dealing with paperwork and that aspect. When I DO find a property, I can always rent it back to myself, from the non-profit, or if that business doesn’t work out, move into it or put it up for sale and recoup some money from that venture. A bonus would be having more space to put my woodworking equipment and use the property for that as well. Also, another potential rent-back opportunity for garage space. Until that pans out, I’m still reaching out for other board members, as that is my limiting factor at the moment.

Medical Marijuana

I’m stepping into the MM space. It seems tight, and a bit overloaded here, especially with the number of dispensaries and the like, around Norman alone. Statewide, as of last week, we had 137 pages of registered dispensaries, and at 17 listings per page, that’s over 2300 dispensaries. I’d rather deal with plants than people, tbh, and so I’ve been emailing about commercial rental spaces I can use for that operation. I’ve been learning all about Triple Net Leases, buildout for indoor grow ops, and THC extraction methods from flower and that has been an enlightening experience. I’ve been trying to keep that rental as close to home as possible, so my commute to “work” wouldn’t be a hassle, AND I could visit it at odd hours, if I get a “real job”. So far, 3 rejections, with offers WAY more space and overhead than I currently need. I’m not wanting to tie down the first year of operations with massive overhead while it’s a fledgling business. I haven’t signed anything yet, but hopefully very, very soon.

I have a business partner for the manufacturing side, and some potential people to tap for the grow side, but first, I need a space. I’ve all but given up on finding some land east of town that could work for this operation. This is due to the last property I looked at, being the residence of a “crazy old coot”. I mean, wow. Just wow… So, until something out there comes along, I’m into the rental space now.

The main plusses for this income stream, in my opinion, is that at the very least, I could have some cash influx about 3 months after getting my certificates. Because we’ll be sourcing our own product for manufacturing, that greatly increases the profitability margin. Amazingly, the licenses, packaging, and certificates to grow, sell, and make MM products, is WAY, WAY, WAY cheaper and less regulated than starting a nano-brewery. Freaking crazy, in my opinion, but hey, the gov’t does, what the gov’t does… Also, why not learn something new?

What Now?

I don’t know what’s coming next, to be honest. I may get the DHS job, I may not. I may find a house for the advocacy center and go full steam with that and definitely try my hand at the MM space in the meantime. I also started an Etsy shop, Could Have Been a Book where I’m successfully paying for picture listings, lol. Thanks to the support of a lot of you in the Twitter space, I have been getting items sold, and more pics added to the shop. Thank-you to everyone that has been helpful in supporting me in that way. My main goal is to have a nice inventory and supply built up prior to the holiday rush and get a local Facebook page for people within driving distance that don’t want to pay for shipping on the bigger carvings and products. Is that going to solve my money woes? Nope, not at all, lol. However, if it helps stop the leaks, then that’s awesome, and it keeps me focused working on hobbies and away from the computer because holy cow, my activity level has been SO low lately. Even with a “supposed” triathlon in Boulder this fall. Fingers crossed, but I know I won’t setting any PR’s on that course. It will be a great time to catch up with my college buddy, play even more music, and spend some time in CO, even if it’s just Broomfield…

Summary

That’s about it. The most recent catch up on all things, Jay. Not much has changed since last time though. I feel like I need to pivot this whole blog, whatever the hell it is now, out of the PF space and into, I have no clue where it would go.

I don’t write about PF stuff anymore. I’ve been blogging almost 6 years, I left an industry, was unemployed for almost 1 solid yr, and adjunct only for almost 1.5 years now and I STILL haven’t written a book, made any positive net income from the blog, or have actively been trying to monetize this platform. Too much work, not enough “give a crap” from my side.  Plus, what would my book be about, “How to retire like me!”, I see way too many of those as it is, and don’t have anything new to add to waves arms around that whole space. Who knows, but you can be sure you’ll read about it here, or somewhere, when that pivot happens. Until then, stay safe, be kind, and if you need any support, join our PF Group over at discord.