Many financially-motivated people share a similar dream. They look forward to and even live for the day they don’t have to rely on their job quite as much for their income. While it might seem like a pipe dream, the truth is that it’s achievable. You can become financially independent of your job. It’s not easy, but here are a few of the steps that can help you get there.
Get a side hustle
Nowadays, it’s much easier to get a second source of revenue or a “side hustle”. The internet is making it much easier to sell your skills to the highest bidder as a freelancer or virtual assistant. If you have a passion you love to write about, you can start a blog and monetise it through affiliate programs and advertisements. Find what spare time you’re willing to set aside each week and use it to start your side hustle.
Don’t wait to invest
You’re not going to get rich off a side hustle, of course, nor are you likely to become completely independent of your job. But you can use the money you make from it to start investing in platforms like CMC Markets. Investing, more than anything is one of the most reliable paths to wealth. There’s inherent risk, so don’t invest more than you can afford to. Even if you start out small, however, learning smart strategies and diversifying your portfolio can keep growth continues until the point that most of your wealth and value is in investments, not in your career.
Buy and sell to success
You don’t necessarily need to make your own products or create your own services to sell online, either. If you can find profitable products to sell through Amazon, eBay, and other online marketplaces, you could start a buy-and-sell venture that makes you a serious amount of money. It’s best to focus on selling what you know, knowing how and where to find it at a reasonable cost to sell it at its real market value (or at least closer to it). It’s not for everyone, but if you’re willing to spend a little time every day checking on your online storefront, it can be a reliable money maker.
Join the sharing economy
You can also make use of the assets you already have to join what’s known as the “sharing economy”. Airbnb is one of the prime examples, of people using their own homes to provide accommodation to travellers, professionals, and tourists. If you don’t like the idea of having someone stay in your property, there are other services like Spacer that offer much the same setup, but for those looking to use your storage space instead of your bedrooms.
If you really want economic freedom from your job, then you need to turn earning into your job for some time. Managing investments, looking for side hustles, and using the assets you have at the ready to make money can get you there. Just don’t expect it to be easy.