This is easier said than done.
Thread:
1) Say you know your average monthly (living) expense and that's 20k.
But your current income is 25k, investing the 5k a month is likely NOT going to get you out of the "rat race" (in the short term).
Thread:
1) Say you know your average monthly (living) expense and that's 20k.
But your current income is 25k, investing the 5k a month is likely NOT going to get you out of the "rat race" (in the short term).
https://twitter.com/ThobelaniMchun3/status/1316683211741822981
2) If you are working an 8 - 5 job for that 25k, you will be more successful if you use the extra time you have on your hands to build something on the side. AKA the side hustle.
Once your side hustle is bringing in an income, you'll need to do calculations.
Once your side hustle is bringing in an income, you'll need to do calculations.
3) Calculate how much side hustle work you need to do (how many clients/hours/odd jobs) to replace your salary.
Once your side hustle is large enough to replace your salary, you can move to the next step (and you have a large emergency fund)...
Once your side hustle is large enough to replace your salary, you can move to the next step (and you have a large emergency fund)...
4) You can fast-forward this process by lowering your living expenses, but many people don't want to sacrifice their current life for their future life.
#Minimalism
#Minimalism
5) If you get to the point where your side hustle income is beating your salary, you can either quit, or continue to invest... and at this magnitude (putting 10 - 20k into investments) will allow you to actually live only on passive income.
6) I'm not an expert in this journey, but people like @tayooye and several content creators and entrepreneurs have walked this path to "financial freedom"
• • •
Missing some Tweet in this thread? You can try to
force a refresh
