You work plenty — more than you’d like.
But it’s not just the working that burns you out (actually, working itself isn’t all that bad), it’s the pay, the fact that someone else gets to determine how much money you’re worth. The fact that someone else can tell you to stay in the same box for 8 hours a day and you do it.
It’s humiliating. Frustrating. And you want out.
I can’t blame you, of course. Call Porter (the company for which I’m the CEO) helps people like you create financial freedom and live on their own terms… so I’m biased.
But here’s the thing: you can create financial freedom for you and your family (beyond just using the 365 Day Money Challenge), you can become financially independent… and you can do it by the end of this year.
Let me explain.
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Most People Will Never Be Financially Free…
Here are some statistics that will make you lose hope in humanity.
- The median amount of money that a person between the age of 32 and 61 has saved for retirement is $5,000
- 60% of Americans don’t have even $500 in savings
- 33% of Americans don’t have any financial plan, whatsoever
I’m going to be honest with you: most people will never be financially free. Most people will live their lives in a cubicle (literally or metaphorically) and die poor. They’ll work for someone else’s dreams until they’re too old to work, and then they’ll barely make it by for the rest of their lives.
That is the statistical reality.
It’s depressing, it’s frustrating — hell, it’s almost enough for me to march outside this weekend with a picket sign, chanting “Stop serving The Man!”
But look — it’s not all bad. Some people authentically love working 9-5, slowly saving some money for retirement, and coming home to enjoy an evening with their family.
And there’s nothing wrong with that.
But I’m going to assume that you clicked on this article, not because you love your current situation, but because you’re looking for way out. If that’s you (which it is), then understand that there’s also nothing wrong with wanting out.
There’s nothing wrong with wanting to make more money in less time, wanting to live on your own terms, and wanting to skip the daily grind.
(If you needed permission, there it is)
In fact, that’s admirable.
But it’s also not as simple as quitting your day job when you wake up tomorrow and flipping eBay items to support you and your family until you figure out what to do with your life.
So here are 3 quick ‘n dirty steps to point you in the right direction.
Step #1: Find Your “Why?”
Before you quit your job or even try to create a new stream of income (real estate investing or otherwise), you need to know why you’re doing it. Sure — hating your job is a good reason to leave your job, but it’s not necessarily a good reason to leave the 9-5 space altogether.
Let me rephrase that — it’s a good enough reason. But it isn’t a good enough motivation.
Here’s Simon Sinek talking about the impact of finding your “Why?”
The point is, you need to know why you want to leave your job and why you want to be financially independent before you take action. That will help clarify the path forward.
Try answering these questions:
- Why do you want to be financially independent? What would that allow you to do?
- If you had more time for the things that matter most to you in life, what would you spend that time doing?
- 1 year from now, what would be your ideal situation? Where are you living? Who are you with? What do you spend your days working on?
Step #2: Determine How Much Money You Need
Not everyone needs to make $1 million per year to be happy. Some people don’t even need/want to make more than $50k per year to be happy. This is why it’s so critical to start with your “Why?”
If you don’t know why you want to be financially independent, then you can’t possibly determine how much money you’ll need per month to accomplish your goals.
If, for instance, you want to live on the beach and surf everyday, then you probably don’t need to make more than $100k per year — you’d primarily be interested in automating your income so you don’t have to work as much.
But if you want to buy a mansion, drive a Ferrari, and live in Seattle, that’s going to cost more money.
There’s nothing wrong with either option, but you just need to be real with yourself: write down… how much is your dream life going to cost you?
Because money can’t buy happiness, but living your dream life can.
Step #3: Create a Scale-able Investing Strategy For Getting To That Income
Now comes the fun part. You know why you want to become financially independent. And you even know how much money you need to make to accomplish your goals.
The next step is to sit down, look at your options, and determine how you’re going to get there.
At Call Porter, we think that real estate investing is one of the best ways to build independent wealth. We’ve helped hundreds of investors around the nation automate their income and make more money in less time.
Here are a few of our favorite investing strategy (click to go to a guide):
Create a business plan, side-hustle to get started if you have to, and get to work. No one is going to do the work for you — you have to do it.
Oh — and if you don’t have much startup capital, check out this video my brother did about raising private money.
You want to change the direction of your life. You want to stop spending so much time working for someone else. You want to make more money in less time and you want to pay yourself.
Now it’s time to take action, to follow the above steps and see where they take you. The above guide isn’t an exhaustive list of steps, but it’ll get you moving in the right direction.
And the most important step is always the next one.
Time to take it.