While leaping out of the 9 to 5 grind before even having an alternate source of income lined up might feel quite tempting, the worry of being unable to pay your bills could induce immense amounts of stress and pressure.
Other hustle ideas that could potentially turn into viable income streams include but are not limited to: All the information you need to get started and succeed can be found on the internet for free.
It’ll take a couple of years before it generates a full-time income but you can work on it at your own pace during your free time and weekends. The only downside is the lack of benefits, paid leave, and health insurance. The beauty of consulting is that you have complete control over your schedule and the projects you want to undertake. No matter the industry and profession, it’s likely that there are companies out there looking for consultations from experts. Or you could offer consulting services as a freelancer…Įxplore the idea of becoming a consultant. In 3-5 years, you’ll be able to punch your ticket to financial freedom and officially become a corporate dropout. Start educating yourself on the topic by listening to podcasts on your commute to and from work, use your lunch breaks to network, and spend at least one night per week interacting with like-minded investors. That’s exactly how I escaped the 9-5 rat race on a household income of $100,000/year. Regardless of which venture you choose to undertake, your monetization options are practically endless…įor example, you could start investing in real estate…īuild a stream of income through real estate investing. Investing requires very little effort but it carries a lot of risks and it could take many years until you start seeing any returns. Launching a business involves tons of work upfront but is a scalable solution that offers the biggest income potential. Whatever the case, such streams of income can be generated in 3 different ways:įreelancing is the simplest, fastest, and most reliable path to generating an income but it’s not that scalable. Once you’ve defined your F*ck Off Income it’s time to start building it up by cultivating one or more income streams.įor example, if your F*ck Off Income is $2000/month, you could create 5 income streams that generate $400/month each, or 10 income streams that bring in $200/month each, or just one stream that yields $2000/month by itself.
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