A sure-fire way to success outside of the corporate 9–5.
Diversification. I know it’s not the business idea, freelance site or remote job you were expecting. I can guarantee, however, that this is the sure-fire way to get you there. The army says it best, “Keep pushing. Keep moving.” Don’t wait for the ideal remote gig or the ideal freelance client to fall on your lap.
Diversifying your income streams prevents dependency.
which is why we want to quit the 9–5 in the first place. A mixture of passive and earned income is the sweet spot.
If you’re at your job now. Lower costs like crazy. Tackle all of your financial burdens aggressively and build up a reserve. This might mean pulling in some additional income that requires no upfront investment.
I personally signed up my car for Uber and Lyft and did “destination trips” to my job in the morning and back home and some on the weekend. That’s enough to cover your gas and maybe even your car payment. I also picked up freelance gigs on Upwork and listing on Facebook marketplace and Offerup stuff in my house I realized were just taking up space.
Make your bed of reliable income.
I personally chose dividend stocks as my first approach. I also like this method because the dividend stocks tend to be more stable blue chip stocks that maintain their price which means liquidity if you’re ever stuck in a worst case scenario (not when you want to scratch up some money to go out for some drinks). Yours may be different and will solely depend on your comfort.
Next, I chose a stream that was more aligned with my passion and skills which is design work, so I moved on to Upwork, aggressively picking up clients (I’ll be doing an article on this soon). You’d be surprised how much more value for your services you’ll pick up outside of your job. No matter the field. (Note: When freelancing, price your services higher to account for taxes and insurance.)
Now that you’re slowly building up your streams, cashflow that extra income into securing your bed. Wether that’s additional dividend stocks or just a cash reserve. Keep building it up. All while adding your jobs income to the pile as well.
Once it gets to the point were you have a healthy amount of savings to account for a few months of no work, we can now fully transition.
We’ve gotten to the point where our monthly freelance and passive income covers our monthly expenses. We now have what’s called leverage. Now you have options. I’d personally recommend setting up some time in the morning with your boss and negotiating a remote or part time position. Make the strongest case possible. If that doesn’t workout, don’t worry. You don’t need them. If you choose to completely quit it’s your personal choice too.
This is the opportunity to exponentially secure your financial freedom.
You’ve now freed up 8 hours of your day! 8 hours that con be put to productivity and growth. Get more freelance. Focus on building your YouTube channel. Follow your passion to build your blog. Affiliate marketing. This is the stage in which you can now build up multiple income sources that require time, effort and minimal upfront cost. Not the time to sit on the couch for 8 hours a day (Unless it’s spent working).
Happy working and get your freedom on!
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