Manage episode 254003359 series 1095133
Thanks for listening
From Alex; "I first read the “4-hour workweek” in 2014 then I understood that life as our parents knew it has ended. No more stable job for 40 till retirement. No more mansion on the beach. The new currency is time and mobility. Our destiny is in our hands. Also, a while back came to the conclusion that our reality is changing so rapidly that the next generation that is born in the 2010s will have almost no similarity to income sources as I know it today. So although we are working in the high tech industry, the changes are so rapid and so groundbreaking, siting it out will not be enough in the coming years. So either you have to adjust your work strategy every few months to emerging tech or ou have to climb the corporate ladder which lately has been dwarfed to several huge steps. I.e. worker than manager than vp. Since most of the workforce are not managers the middle management has been squeezed out of high tech. Option number two become FIRE enthusiast. FIRE for short Finincialy independent Retire Early, stand for people who FI - don’t worry about income any more, and RE is free to be mobile cross geographical locations, interesting jobs or just enjoying the classic retirement and do nothing all day long. FIRE has several levels: ”Lean” be frugal or super frugal and live off 60K nis a year spending only on staples. Living of well-fare as much as possible. “Fat” to have enough capital to enjoy life at level 150K nis and up a year. “Barista” semi-”fat” that work part-time to keep busy and maintain worker benefits
Since “lean” is self-explanatory and not appealing to mass of the people, we’ll focus on “fat/barista” type. This type has the side hustle that at some point is equal or surpass their work income so they would safely reduce the workload or focus on side hustle only. Ultimately the side income will automate over time and will require minimal intervention.
To reach FIRE mode most people need 30 years of spending safely stored in passive income generation sources that they have liquid access to deliver their chosen lifestyle.
I always had a 5-year plan that successfully implemented over time. Once I turned 35 and I reached my personal meaning goals, now I turned to reach FIRE mode in this 5-year plan."
Examples POD In-store - Teespring, threadless Private label Etsy Shopify - Printfull, Printify eBay Amazon
DROP SHIPPING Amazon / eBay Shopify FBA Private label Arbitrage Wholesale
AFFILIATE MARKETING Amazon / eBay High ticket items Courses WEBINARS
Social media marketing Facebook marketing Google ads Shopify stores Wix/SQS SEO
eBay churning from a yard sale
Automatic food dispensers
High ticket closing
Youtube long tale SEO video promotions
Instagram page shoutouts
Twitch - Pro gaming Video gaming channel
QLA boomers business take over and resell
Equity in real estate
Keren Hishtalmut lending
Action: follow me on social media, LinkedIn, Facebook. Join my mailing list to get the latest news from my progress to reach the FIRE mode