I have gone back to work after a couple of weeks off. It feels really strange to wake up to an alarm clock and fight my way through public transport.
First Night Back At Work
The first night back at work was really tough. Working 12 hours wearing formal shoes after two weeks was extremely uncomfortable. I had got used to wearing trainer (sneakers) whilst I was off work.
Whilst at work, I kept on looking at the time to see how many hours I had left till the end of my shift. It felt as though time had slowed down to make me earn my money.
The environment at work was negative as usual. I stayed focused on my goals to counter the negative influence and help me get through the 12 hours.
Finally the shift was over, I got back home at around 8:30 am. The journey on public transport was chaotic as schools had started back after the holidays, adding to the passenger numbers.
I usually have a good breakfast after getting back home after work, but I was totally exhausted. My feet were hurting, I found a bottle of protein shake in the fridge and gulped it down.
I changed my clothes and dropped into bed. I had set the alarm on my phone for 2:00 pm… the alarm went off, but I did not manage to wake up. My wife woke me up at 4:00 pm, I hurriedly had a shower and got dressed, whilst she got some food ready for me.
At 5:00 pm, I set off for work again… this is my second night back at work after the time off. I am writing this post at work, as I have not been able to get onto my laptop at home. I want to give you an update of how my self-improvement journey is progressing.
I will be going back to 4 hours of sleep to enable me to make some free time to focus on my self-improvement tasks. It is suggested that an adult sleeps for approximately 7 hours daily to function properly. If I slept for 7 hours, I would not have any time to work on my dreams.
I will sacrifice my sleep for 12 months to enable me to find a way to build a passive income stream that will enable me to quit my job. I need to get out of this trading time for money trap as soon as possible.
Getting To My Initial Stage Of Freedom
I would require approximately $5,000 monthly to cover my living expenses. This amount of money will not allow me to travel the world or enjoy any luxuries. This amount will just cover by bills and enable me to have a roof over my head, and place food on my table.
I live in the UK, $5,000 USD equates to approximately £3,817 GBP. On this blog I will write amounts in USD, as it is most commonly used online.
My goal is to create a passive income stream that earns me over $5,000 monthly. This will enable me to quit my current employment and use the free time to work on my self-improvement journey.
Earning over $5,000 monthly from a passive income source will enable me to reach my initial stage of freedom. Instead of trading having to trade my time for money, I will be able to use it to work on my dream.
I have looked at various ways of building passive income streams. Most of them involve investing thousands of pounds to create a passive income of $5,000 monthly.
$5,000 monthly is $60,000 yearly. This equates to approximately GB £3,817 and £45,800 yearly.
I would need to invest approximately $860,000 in dividend earning stocks, paying 7% dividend to earn around $60,000 yearly. In reality I would have to invest over $1,500,000 to earn a yearly dividend payout of around $60,000, taking taxes and variation of dividend payouts into consideration.
A more realistic dividend payout would be an average of around 5%. If I invested $1,500,000 in dividend paying stocks, I would most likely earn over $60,000 yearly in passive income.
I could also purchase 3 houses for $1,500,000 and earn a monthly passive income of over $5,000. The rental income market is still paying out good returns.
These are two passive income sources that I could tap into, but I don’t have a spare $1,500,000 to invest. I started looking into other viable passive income streams that I could create using my own efforts and requiring minimum investment.
The most viable option for me is to create passive income streams using the internet. I will be able to do this without having to leave my current employment. Once I have reached over $5,000 monthly in passive income, I will be able to say good bye to the world of trading time for money.
Passive Income Streams That I Can Start Building
Blogging
I already have this blog up and running using. I will be able to monetize this blog to build passive income streams. I will be able to earn advertising revenue once it has been approved my AdSense. It may take approximately 12 to 24 months to start earning a substantial income from AdSense.
It is suggested that I have a minimum of 50 posts, each post consisting of over 2,000 words to get accepted by AdSense. The posts much be unique and provide value to the reader.
It will take me around 6 months to write 50 posts on this blog. I am writing all my blogs by myself, no AI is used to create these posts. My thoughts and my self-improvement journey is being related to the readers of this blog.
I can also build a passive income stream via affiliate marketing by promoting products and services that would benefit the readers of this blog. I will start focusing on affiliate programs that pay a monthly commission to build passive income streams.
The products and services that I promote will need to provide real value to readers of my blog. I can start by promoting products and service that I personally use that have an affiliate program.
I am currently using Wealthy Affiliate to host and create by blog.
I am using the GetResponse autoresponder to capture leads and send out follow-up messages.
I am using My Lead Gen Secret to drive traffic to my blog.
I am using Udemi to send out solo ads.
I will be creating detailed posts related to the above products and services.
YouTube Channel
I will be working on a YouTube Channel soon with the goal of getting it monetized via AdSense and also to generate commissions via affiliate marketing.
To qualify for channel monetization via AdSense on YouTube, I will need to have a minimum of 1,000 subscribers and 4,000 hours of watch time within a 365 day period. I don’t know how long it will take me to get the YouTube channel monetized.
I may wait until my blog is accepted by AdSense before focusing on getting my YouTube channel monetized. Let’s see how it works out with the blog first.
Print On Demand
I will be launching some T-Shirts and Hoodies on Amazon via Merch by Amazon. These will have motivational sayings and quotes on them. This will enable me to create another passive income stream.
I will start off with Text based designs that I will create by myself. The T-Shirts and Hoodies will be promoted through this blog and via links on my Social Media channels.
This is something that I can have up and running within a few days, as I have already been approved my Merch by Amazon.
eBooks And Courses
I will start by publishing self-improvement eBooks on Amazon’s Kindle platform. I will work on my self-improvement goals for 12 months, acquiring and testing the information that I come across. Once I have acquired a substantial amount of knowledge, I will be in a position to start writing and publishing relevant eBooks.
I will work on some courses in the future. I don’t know the exact time frame for this yet. I will be looking into viable online platform that I can use to deliver the courses.
eBooks and courses are going to become my passive income streams in the future.
Affiliate Marketing
I will look at promoting high quality products and services related to self-improvement as an affiliate. This can become another additional source of passive income.
I will recommend various self-improvement related products and services in the posts on this blog and also on my YouTube channel. The links to these products and services will be affiliate links, I may earn commissions as an affiliate from sponsored links within my blog posts and also descriptions on my YouTube videos.
The Road Ahead
For now, I will focus on my self-improvement goals along with building online passive income streams. My initial goal is to build up enough passive income to enable me to quit my current employment.
I have set a goal of building a monthly passive income of over $5,000. I don’t know how long it will take me to accomplish this. I will also set a goal of accumulating over $100,000 in savings. It does not matter whichever goal gets accomplished first, either of them will enable me to quit my current employment.
$100,000 will enable me to quit my current employment and keep me going for approximately 2 years. It will enable me to cover my living expense while I focus on my self-improvement goals.
I have reached $5,000 monthly or $100,000 in savings as the amount that will enable me to reach my initial stage of freedom. This amount will enable me to get out of the rat race, and stop trading my time for money.
I was going to completed this blog post yesterday, but I was still exhausted from the symptoms of returning back to working 12-hours long shifts.
I am finishing off this blog post on my third night back at work. These post are helping me to organize my thoughts and get them out into the world. Maybe some of these posts will inspire you to take action towards improving your lifestyle.
May times the though of quitting this self-improvement journey had crossed my mind, but I know that I was not ready to throw in the towel.
I countered the thought of giving up by focusing on Napoleon Hill’s famous quote “A Winner Never Quits, And A Quitter Never Wins”. This has kept me going, I am don’t going to become a Quitter!
I also close my eyes and focus on the lifestyle that I want to create. I will not let my dream die… I don’t know exactly how I am going to transform it into reality, but quitting is definitely not the way.
I accept that there will be many obstacle along the way. I will overcome each and every obstacle that comes in my way. I have made a decision to transform my life and I will stick with it.
The night is still young, the journey towards achieving my goals continues. My body feels exhausted, but my mind will not let me rest. I will need to meditate for 20 to 30 minutes to quieten my thoughts.
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