I'm in my 20's and have been fortunate enough to have started several small companies that are doing pretty well (or just ok depending on your standards) - I currently make 6 figures working 15-25 hours a week and could pull in at least 250k in the next 12 months and more thereafter if I really started applying myself and working full time. Problem is, I'm lazy by nature, and although I can work tirelessly (days, nights, weekends, whatever it takes) when problems arise, I generally do only as much work as is necessary to pay for my lifestyle, so that's precisely what I make and not a penny more.
My guess is that any success I've had to date is only due to my expensive taste - to me, it is necessary (as necessary as it is to have food and water) to have an expensive car, live in a rich neighborhood, etc, so I forced myself to build up sufficient income to pay for these things. In my mind, I "need" these things - if I didn't need em, I'd work less; if I needed more, I'd work more, simple as that. So all in all, things are ok and I really can't complain too much: I can afford anything I want (except crazy shit like a Bugatti, private jet or a $10 million house), don't have to work too much, can go on vacation whenever I want, etc.
The problem is, as you may have guessed, that I live paycheck to paycheck and have zero financial security: if I stop working for 6 months, I'll be homeless! I hate this feeling - I have all this nice stuff and everyone thinks I'm loaded, but I feel poor because I have no savings and trapped because I can't quit working. This has been going on for years and I just realized that if I don't put an end to it now, I'll still be sitting here 20 years from now and bitching about how I'm still "poor" and still trapped!
So what I need from you guys is a GOAL. Tell me what to do so that I don't ever have to work again, tell me how to get that PASSIVE INCOME! What do I need to do? Save up a million bucks and live off the interest? I could do that within a few years, but how much interest can you make off a million bucks - 60k? I'd starve! I need at least 120-150k/yr in passive income for starters, so that I can quit my job and focus on growing my net worth and generating even more passive income. But how do I start, what should be my GOAL? How do I make that first 100k/yr in passive income? Please help me, I feel really down and trapped and I hate this feeling and want to escape from it and be free to never have to work again! Thanks in advance! 🙂
My guess is that any success I've had to date is only due to my expensive taste - to me, it is necessary (as necessary as it is to have food and water) to have an expensive car, live in a rich neighborhood, etc, so I forced myself to build up sufficient income to pay for these things. In my mind, I "need" these things - if I didn't need em, I'd work less; if I needed more, I'd work more, simple as that. So all in all, things are ok and I really can't complain too much: I can afford anything I want (except crazy shit like a Bugatti, private jet or a $10 million house), don't have to work too much, can go on vacation whenever I want, etc.
The problem is, as you may have guessed, that I live paycheck to paycheck and have zero financial security: if I stop working for 6 months, I'll be homeless! I hate this feeling - I have all this nice stuff and everyone thinks I'm loaded, but I feel poor because I have no savings and trapped because I can't quit working. This has been going on for years and I just realized that if I don't put an end to it now, I'll still be sitting here 20 years from now and bitching about how I'm still "poor" and still trapped!
So what I need from you guys is a GOAL. Tell me what to do so that I don't ever have to work again, tell me how to get that PASSIVE INCOME! What do I need to do? Save up a million bucks and live off the interest? I could do that within a few years, but how much interest can you make off a million bucks - 60k? I'd starve! I need at least 120-150k/yr in passive income for starters, so that I can quit my job and focus on growing my net worth and generating even more passive income. But how do I start, what should be my GOAL? How do I make that first 100k/yr in passive income? Please help me, I feel really down and trapped and I hate this feeling and want to escape from it and be free to never have to work again! Thanks in advance! 🙂
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