Inspired by the founder of the Yakezie network, in one of his posts about online income, I am switching gears in my life. I am officially shooting for the stars. I have been toying with my future plans for some time now. As most young people do, I thought I had my life's plan figured out. I am young, but that doesn't stop me from planning for my future. In fact, that is what this blog is all about. It is about so many things, but particularly the possibilities that are available to us all if we give it everything we have.
My New Goal in Life
If someone were to ask me what I want to do with my life, I would still answer that I have no idea. I don't think I should be limited to one thing. The days of working in the same job for 40 years until retirement are long gone. The increased mobility in this small world and the expansion of the internet have changed that significantly.
However, for the next couple years of my life, I have been given the opportunity to test the waters. My wife is going to be getting a Masters degree for a couple years after I finish mine. As of right now, I don't have a career in mind. I am currently employed full-time, but that means that I have 133 other hours in the week to build up my empire. It also means that I have some job security. If my ventures fail, it's not the end of the world. I literally have nothing to lose but the free time that I don't know what to do with anyway.
So, what is this new direction exactly? It's exactly what I am doing right now as I type away. I am investing my time and money into building passive income streams. Much of this will be online business ideas because of one simple idea – very little upfront costs. Since I have very little money that I am willing to risk on this new idea, this makes perfect sense. I also have lots of free time (other than finishing grad school). Why not try to do something life-changing?
To the 'Nay-Sayers'
Some may think I am absolutely crazy and delusional, but I really don't care. Some may think I am jumping into deep water without learning to swim. After all, I have only been blogging for about 3 months now. Other bloggers have advised me to wait a while before making the plunge with another blog. While I definitely value their opinion and they have experience to back up their beliefs, they don't know me that well. When I get something in my head, I do it. It doesn't mean that I'm illogical – just determined. I see what I want and I do everything I can to get there. If it means sleeping less or learning new things, even better! Plus, I really enjoy blogging!
I also know that I have a lot of great friends at Yakezie to support me! They have already been really supportive to me as I develop my other site, and now I am joining the challenge (with this site).
My Big Dream and Why it Matters
I know I have been dancing around this idea… I know you are wondering what my dream is exactly. Well, I can't define it perfectly just yet, but it is along the following lines. Work hard to build up passive forms of income. The various forms include real estate, blogging, and a few other online business ideas. I have only been blogging for 3 months, but I have already made money. Six months ago, I didn't even know that blogging can generate an income, let alone make a 6 figure income from it.
In case you are worried that my dream is all about money, it isn't. While Sam (mentioned above) may be shooting for $12k per month from online ventures, I don't care to make that much. I have told him that with my wife gearing up for a successful career, I have options available to me. I don't have a set figure in mind. I think that would limit me. I should also be clear that I don't want to be a millionaire. It may happen along the way, but it isn't my focus. Instead, I want to generate a sustainable income – because that will stay with me a lot longer than some lump some.
My goal is to generate enough passive income where I can work less days that I don't work. That means, to create systems where I can generate enough income to more than replace the income from my day job and sustain that income by working 3 days a week. The best part about this is that I think I can accomplish this in the next 2-3 years. Can you imagine only working 3 days a week starting at age 27? What excites me most about this new idea is that if I can accomplish this, it allows me to do so much more with the other 4 days of my weeks. I can volunteer my time for meaningful causes. I could do literally anything I want.
Shawn Manaher is a former financial advisor, has founded 5 online businesses, and is a coach, speaker, podcast host, and author. He's been featured on The Consults Corner on TAE Radio, The Writing Biz, What's Your Story, and more.