Did you buy into all the hype surrounding the quiet quitting and great resignation movements? How did that work out for you?
I agree with you on one thing—the workplace is terrible in its current form. There are two crucial elements missing: leadership and mentorship.
However, you’ll need to go back to work until you have a better answer to support yourself—this time with concrete and measurable goals.
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Why do we work? Everyone should have a goal to become financially independent by age 42. That gives you 20 years in the workforce.
Does this sound impossible? The problem is we go to work for the wrong reasons. Working in the workforce is not a 40-50 year plan.
We go to work to pay bills. The issues arose as more and more people started to live alone. If you start fresh (on your own) at age 18, you must work for 50 years.
However, if you remained at your parent’s house, your career trajectory would be much different. Once you reach a solid wage, your parents can retire and watch your kids.
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You shouldn’t have a mortgage by age 40 because it would be your parent’s (paid off) house. If you invested in dividends, you could have an excellent portfolio by age 45.
Your parents watch your children, your spouse could homeschool them, and you would use dividends to buy your freedom from the workforce.
After transitioning from the workforce, you and your spouse could follow your creative pursuits—business, content creation, or real estate.
The art of education and teamwork. Somehow, they convinced us we all needed our own houses and cars. And not just crappy things, but top-of-the-line stuff.
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Why are you frustrated at work? Because you are literally working to pay for useless things—you must fund your expensive lifestyle.
Who wins in this high-consumption economy? Who knows, but it is not you. Therefore you will need to go against the grain to set yourself free.
You’ll need two things to buy your freedom from the workforce: education and teamwork. My wife and I will become financially free by the end of 2023.
I will be 42, and she will be 39. I spent 24 years in the workforce and will retire with over $11,000/month in passive income.
I am not talking about not fake passive income but actual passive income. This includes a military pension, dividends, rental income, royalties, and residual business income. I call it my Happy Cash Flow Retirement.
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I didn’t have the information. I started just like you, without “the information.” We lived in debt until 2019 when I became fed up with the status quo.
It is frustrating to make $100,000 and not be able to spend $100 at a nice restaurant. I wondered why we were struggling; I stumbled upon “the information.”
You cannot work yourself to financial freedom. You must use your wits to buy your freedom—you’ll need leverage.
Leverage doesn’t mean you need to buy five rental properties or build a high-stakes business in a year. No, it means you need to work together.
Trying to buy your freedom by working a salaried or hourly job is a fool’s errand. Did you quit your job because you were making $5,000/month and spending $5,000/month?
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The leverage of life. But what if you got a roommate and saved $1,000/month? What if you invested $1,000/month into dividend-paying stocks?
What if you lived with your parents and could save and invest $3,000/month? How about saving $3,000/month while building a YouTube channel during your free time?
If you lived like this for five years, you could easily have $2,000/month in dividends and a $3,000/month YouTube career. That’s more than enough to leave your job (the right way this time).
The leverage of life comes from having “the information (about passive income)” and working as a team. You can also use technology, like the internet, to expedite your escape from the rat race.
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You don’t have to be great. You don’t have to be great at anything you do; just constantly make good decisions.
My wife and I own three houses; however, we never refinanced a home to buy a boat or SUV. We refinanced the house to pay off debt and put $50,000 into dividend stocks.
We are still debt-free, and that $50,000 has probably turned into $100,000 over the years. If you are working and making bad decisions, your life will be miserable. Additionally, you will extend your time in the workforce.
You can’t live under the stress of debt—it won’t end well. If you are going to work and struggling financially, you will hate your job.
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Don’t blame your job or your boss. You cannot blame your job for your poor decisions. I make $180,000 (until I retire this year) and drive a $17,000 Ford Focus.
I refuse to buy into the hype of buying expensive cars and clothes. However, I earn close to $1,800/month in monthly dividends. I can afford to treat myself well if I so choose.
I understand that you didn’t have the information before, but today is different. Work is simply a way to give you time to set up your life.
Working gives you resources to build streams of passive income. Once you have enough passive income, it is time to pursue your creative or business ambitions.
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If you must stay in the workplace, you need to use your wits. You should not be paying out-of-pocket for housing expenses.
Whether that means having roommates, renting a small room (funded by driving Uber), or sleeping on someone’s couch, you’ll need to cut your costs.
Conclusion. If you are single, you should be able to buy your freedom in 10 years; married couples in 20.
Now, your freedom at first may look like a two-bedroom, two-bathroom in Alabama, but at least you are free.
Once free, you can build your writing, music, podcasting, art, photography, or video career. Or you can start a car wash, arcade, or vending machine business.
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Live below your means, free yourself, and create your freedom career. Working for someone else will always present a low ceiling. However, building your life in your image has no limits.
Plus, you can leave whatever you build to your kids and family. Your efforts ensure that they don’t have to go into the workforce and deal with the insanity of it all.
I’m sorry you didn’t have “the information” much sooner. I was 38 when I first read the words passive income. However, my wife and I took massive action and freed ourselves in four years.
How long will it take you? First, you’ll need to get your job back. Good Luck!
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