Last month my stock market holdings went up in value $10,000. That’s the most money I have ever earned in my whole life in such a short period of time. I did a couple of happy dances in my living room.
Of course, I don’t expect to make this amount of money every month. In fact, I expect to lose money many times. Maybe I will lose all that by the end of the year. It’s part of the game. You win some, you lose some. But so far, I have to tell you, it feels very nice to be on the winning side.
All this let me to ask myself. How much would like to earn?
Right now, my money-making dreams seem unrealistic, but I sure would like to make $100,000 per year, but within a few years, it will be possible.
To honest, I make less than $20,000 per year. These stock market gains are an aberration, but I am trying to make it part of my everyday life.
But I have to ask myself. What would have to happen in order to make $100,000 per year without changing my life style?
I would have to multiply my podcast downloads, my YouTube views, and my website traffic times five.
It’s not a matter of working more, it’s a matter of becoming better at what I do.
All that seems possible.
I think I am getting better at podcasting, at writing, and at talking to the camera. Also, as my net worth increases, every year, I will be able to earn more money and not require a big percentage increase.
How would you multiply your income?
The Stock Market
Everyone should be in the stock market. It doesn’t matter if you only invest a small nominal amount. The stock market is the best way to multiply your money with very little effort. You just put your money there for 10 years or more and thank me later.
Get some more credentials
If you are a regular employee, the best alternative is to get some credential.
Assume for a moment that you are a mid-level manager. If you take night classes and get your MBA, you can see your pay increase dramatically.
Job jumping
You don’t owe any loyalty to your employer. You should always be looking for the next step up. If the competitor of your employer offers you more money, go ahead, make the jump. If you jump for a higher salary every couple of years, you could see your income increase rapidly.
Become self employed
Imagine that you open a small neighborhood coffee shop. If it does well, the following year you can open a second one, and the third year you could open another one, and so on. If you prove your concept, all you have to do is rinse and repeat.
Conclusion
I will continue sharing my journey with you. My goal is to earn $100,000 a year without working more. If I can do it, every body can do it.
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