Month: July 2021

Nine ways to retire early and achieve financial freedom

Wouldn’t it be nice if you could quit your job and not have to worry about paying your bills?

Even if you enjoy what you do, I think it’s fair to say that having the option to quit whenever you want while maintaining the same standard of living would be awesome.

But how?

I have come up with a list of nine ways.

  1. Earn more

There are multiple ways you can earn more money. For instance:

  • Work more hours. If people usually work 40 hours a week, you could try working 60 instead. However, there are only 24 hours in a day. There will be a limit on how much you can trade your time for money.
  • Have a high income skill. To be worth more in the workforce, you need to become a person that is harder to replace. It would be in your best interest to develop skills that make you more valuable. Ex. If you’re the only person that can fix X, then you will be compensated more. But if you were selling popcorn, they can easily hire someone else to do your job. (No offense to those selling popcorn)
  • Side hustle. This could be a business, being a social media influencer, your own personal project, and etc. Basically, it’s something that earns you additional income from your current job.
  1. Lower your costs

You can lower your costs by:

  • Finding a roommate/significant other to split the cost. Having two incomes to pay for expenses make it easier.
  • Moving to somewhere cheaper. If you are able to work online, perhaps you can move to another country where the cost of living is lower and your currency is worth more.
  • Spend less. Buy fewer things, eat less, and go out less.
  1. Use patreon/onlyfans and sell your own merchandise

This is tough. There are A LOT of content creators. Even if people watch you or consume your content, it doesn’t mean they will give you money or buy your merch. In fact, based on my own personal experience, only one in a hundred would donate/give monetary support.

However, this is a very good way to scale. You’re no longer trading time for money. For example, perhaps you spend 2 hours creating content for a tier, but you can have unlimited subscribers for that tier. This means, there is no cap on how much you can earn. Regardless if 100 or 1000 people subscribe to it, you only spent 2 hours.

Note: It is EXTREMELY difficult to get loyal followers who would pay for content. There’s also no guarantee how long they will support you for. Continue reading “Nine ways to retire early and achieve financial freedom”