Sep 3, 2011

How To Live Without A Job

It's really simple to live without a job. Just try to own or build a bunch of different investments that produce income. Generally, successful businessmen and women have their primary business income and then they take that money and invest it to make more. If you do both well, you will be wealthy. You will have to work to live like this, but at least it won't be like a regular old job. Often times the reason people hate their jobs is just because of the psychological factors that come with it and the lack of growth/change in earnings from month to month.

Here are some ideas to help you get started...

Some Ideas The Average Person Can Try
  • Build a Website/Blog: Click Here to See How - Share your hobbies, likes, interests or make an online store. It's up 24/7 and web hosting is 100x cheaper than rent.
    • This is one way to make money while you sleep. A website is always up and can be a good money maker if you make it worth going to. It's like a 24/7 storefront. There are millions of ideas for this. Find out what topics you enjoy and make the site around that and make it something you would want to go every day. I have built a few websites that bring me in passive income every month (enough to pay a mortgage). You just have to have that one good idea, and away you go.
  • Risk - By exposing yourself to risks, you can get rewards. This could be in the context of a new business endeavor or trading in general.
      • To help you with this, smarthelping does offer a trading course that includes synthetic triangular hedging in the currency market.
  • Investing in real estate - Allows you to live in your investment, flip for a nice profit that could be as much as a yearly salary (depending on the dollar amount of your investment), and has monthly income generating benefits if you decide to rent it out. Takes at least $10k initial capital to start out.
  • Get people to work for you - This may sound simple, but it is how the owner of company's survive without a set job. When you own things, it allows you to collect on the profits and do none of the work. You pay people to make what you own profitable. Example: Buy up websites and collect their monthly profits. Higher internet workers to keep the websites making money.
  • Monetize your passions in life - This is another simple one that most people don't figure out how to do. If you love something, make it a way to earn money. To do this effectively, you have to see how your passions can help others. Then it is a matter of charging for it. Be creative.
Where to Start if You Still Have a Job But Want to Get Rid of It

You want to find things that you are able to put your money into that give a return without you doing any more work. The work it will take is due diligence in finding good investments. Being able to double your total net worth every couple years is considered very good. All the active work you do (like having a job) is what you use to raise the capital required to buy assets that give a return. Over time, you will have a lot of different streams of income that allow you to live without having to work any more. It takes time and a bit of luck, but can be done.

Here is one example of doing this...

You want to be saving as much money as you can by any means possible. Figure out how you can cut as many expenses as possible. Once you have your bank account built up to $10k to $50k, it's time to figure out some good places to put that capital so it works for you instead of you working for it.

This could be investing in stocks and re-investing the dividends so you are now making compounding interest. Find stocks with a high yield (8% or higher) and make sure its business model is sustainable for 50 years. Utility and established telecommunication companies are good. This is a good plan if you are still in a building phase and have other money coming in to support your expenses.. Once you get to $800k to $1,000,000, the hard work is all over.

Take the million or however much you are willing to risk and put it into a safer dividend stock. It will take good due diligence and you want to ensure that taking a lower yield will ensure that your investment is safer and not just more focused on capital gains rather than dividends. You can then live off the $50,000 of dividends that a safe 5% yield gives you. Don't worry about the actual pricing going up and down. Just look for how the company is performing and if they plan to continue paying profit share to its shareholders in the long-term.

What to do When You Have Plenty of Passive Income Coming in and No Longer Need a Job.....

Once you have the money part down, the next step is figuring out how to enjoy life without a job. I would suggest finding out what activities give you a lot of joy. Then, see the easiest way to start your own business in the industry without much risk. Since the money needed to survive is coming in completely passive, you can have the freedom to risk your time in building something you love.

The cheapest way to do this is build a website about something you really like. Then, just slap in some Google Adsense code in the sidebar and grow a website about something you really like. This won't feel like work and will be fun to do. Most websites have a better chance when the owner is not counting on it as the only income they have. If you don't know how to start a website, it's very easy with the technology today. I use these two paid web hosts because the cost is less than a couple hundred dollars per year and they have very easy systems to work with as far as the content management goes. All it takes is a fun idea. It doesn't take any coding knowledge at all.

The cost of running a website is nothing compared to paying rent for a storefront. This is why websites have become so popular.

Finding out What Others Find Valuable

One way that you can gain leverage in any type of business situation is by knowing what others want. There are many other options out there. If you can provide your one time services/value to others in exchange for residual revenue share of a business, it can be great for your passive monthly income. This is an example of building residual income from one-time actions.

It can take a lot of time to become valuable so the first spot might be simply educating yourself in some way about an industry. For example, getting your accounting degree and then going out to a business owner and providing your financial services in exchange for a % of their profit. Most small business guys are also into real estate so there are a lot of opportunities for you to get out there and get involved in real estate with those relationships. There is a lot of money to be had in this process, but you have to get off your but and get out there to do it. It's a very rewarding way to live without a job.

Living without a job simply means surviving without being an employee. It can be done if you dump all the ideas you have learned out the window. Empty your cup. One of the main downfalls of humanity is learning about everything but money. People are socialized to get a job and work for their paycheck each week. If they don't like their job they can quit and find a new one. If you want to go through life without moving from one job to the next, you can start working for yourself, which is what this blog is all about.

You can look at my income projects in my monthly income reports to see how I have used the tools available to me online in order to build value for others and monetize it in a relaxed and positive way. You can make 30k/month if you want. All you have to do is work smart and start helping others.

I challenge you to be creative and find ways to get cash flow into your life without a mindless "job". By job, I mean anything you are doing for money that you absolutely hate and not being able to control how much you make. Don't do something you hate that takes up the majority of your time for the rest of your life. Don't get stuck in a situation where you hate going to work and feel trapped like you have no way to change your life. There are many ways you can be free from a job and still earn a very good living and enjoy doing it.

Read the rest of this post to learn the emotional and psychological reasons why people don't try to make money without a job. If you want to check out a very helpful series I have been working on for the past month, that gets people ready to survive without a job, start at my Passive Income Series.

How to Think

Getting very wealthy without a "job" will originally take a job unless you are born into a million or billion dollar family. You have to start thinking like a person with money would think. Instead of working at a job for some company and figuring out how to survive until the next paycheck comes, spend your time figuring out intelligent ways to have cash flow into your life from many places and don't restrict your time. There are many opportunities available for anyone. The trick is finding them. One of the easiest ways to start is just by getting out and talking to people who are already doing this. You can find them by building your personal business network. Don't think about the money part at first. It is more important that you bring value to the table for others. If others find what you have created valuable, you will know it and then making money as a residual effect from it can be done easily.

The next set of information will help you get started on building online passive income with a website. Remember that most people will be able to afford this because it is cheep, but those that work the smartest will survive. The longer you can keep something going, the better chance it has to succeed. Just make sure the idea is good. Keep in mind this is just one of the many assets you should be building in your quest to no longer require a job for income.

How A Blog Becomes Your Asset (Income Potential: 50k + per month)

So let me lay it out for you as simply as I possibly can:
1. Start a blog.
2. Pick a unique name for that blog.
3. Build the blog into something people value.
4. Monetize with advertising revenue
6. Sign up with Google Adsense.
7. Put that Adsense code onto your blog in some way that allows people to see it on every page.
8. Keep blogging about things that you think you would be really interested in. Basically keep putting your unique talent online.
9. Over time, you will have created a money-making machine.
10. You can also talk with specific advertisers for a monthly advertising fee they pay you to put their ads on your website. Look at the ads that come up from Adsense to get an idea of the target market your website has.

Why You Will Never Live Without a Job

The main problem that people run into when they grow up is their plan of action when faced with their bills and survival. How does 99% of the population react to this emotional feeling? They react by not thinking for a second about the options available. Instead they do what has been taught in schools all over the country forever. This is finding a job they qualify for, working for an employer for little pay, and having just enough money to get by.

People will live their entire life like this because the need for comfort and security is so great. Worrying in the middle of night about money and paying bills. This stress is not healthy or conducive to a joyful life. Some people may say they don't care about money. I commend these people and say back to them, "Why do you work for 8 hours a day at something you don't like?". Find something that is not so focused on giving you the bear minimum for your best work.

You can start living without a job when you begin providing value to people in an environment that you create yourself. In many cases, it will help to study self-management skills and learn how to motivate yourself and create a work environment that is fun for you. Living without a job doesn't just mean you are in complete control of your income. It also means that you need to develop your surrounding environment so it is enjoyable to you.

Build Your First Asset

An asset is something that brings positive cash flows and doesn't require more money to run it compared to how much money it provides for you. This is why your house is not usually considered an asset unless you buy it and rent it out. It doesn't provide you with money if you buy/rent it and just live in it unless the value of the house goes up. In that cause, you make the equity as passive income. The real money is in rental income.

Today, you can build/buy an asset/property online (website). That is right. You can go to a marketplace such as and buy websites that produce income. Think of their revenue streams as rental income. If you also make the website better, it may be able to be re-sold and you make a capital gain on the website property. Due diligence is important.

Important Knowledge About Websites

Authority means when someone wants information on a specific topic, they go to the "authority" website to find it. Some authority sites you may have heard of include Wikipedia, WebMD, GNC, and Pandora Internet Radio. These types of sites get millions and millions of views. They rank high in search engines and people like to share these websites with other people. As a result they have become popular and make lots of money for their owners. It just takes a good idea and hard work.

I can not stress enough how important it is to know what your doing before you begin a website. Learn what it takes keep running, stay relevant, and be productive with your time. If you don't start out correctly from the start, it is going to take a lot of work in the future to fix your mistakes. The foundation you build is going to determine the long term success or failure of a website. Generally, it is best to focus on one site and make it a good one. The income possibilities can range from $5,000/month to $100,000/month depending on how your monetizing is set up and how much targeted traffic you are getting.

Many people may spend thousands of wasted hours their first year. Don't waste time. Form the beginning, always keep it simple and think about every action you do and its potential long term effects. You can set up your website however you want, but here are a few tips I have for you:

Make the home page a way for people to navigate to the rest of your site, and also give people information on what the site is about here.
  • Don't violate any copyright laws
  • Make unique content that comes from your own head
  • Find clever ways to get money from your site (there are thousands)
  • Don't think as others have though, think for yourself and go with your gut
Keep in mind this is just one way to build an asset yourself. Other ways to live without a job include buying assets instead of liabilities. This means don't invest your money in things that take more of your money away. Buy things that will give you more money back in the long run. It takes a different way of thinking in order to live like this.

Trading (not that kind of trading)

Everything you do can be thought of in trade-offs. What are you giving up and what are you getting. What is the potential future value of what you are giving up to get. The idea is to try and get yourself at the head of all kinds of things that produce money so that it opens up your time to spend building other things. 

The most difficult part about a regular job is you just trade hours for $'s but in the business world of sole-proprietorship's and LLC's you trade your hours for systems/assets/value building that you hope will pay you back. There is risk there of not getting paid back and wasting hours so be sure to do your due diligence on how you plan to trade your time and the chances it will pay you back.