Jasen Miller via flickr
Inspired by the founder of the Yakezie network, in one of his posts about online income, I am switching gears in my life. I am officially shooting for the stars. I have been toying with my future plans for some time now. As most young people do, I thought I had my life’s plan figured out. I am young, but that doesn’t stop me from planning for my future. In fact, that is what this blog is all about. It is about so many things, but particularly the possibilities that are available to us all if we give it everything we have.
My New Goal in Life
If someone were to ask me what I want to do with my life, I would still answer that I have no idea. I don’t think I should be limited to one thing. The days of working in the same job for 40 years until retirement are long gone. The increased mobility in this small world and the expansion of the internet have changed that significantly.
However, for the next couple years of my life, I have been given the opportunity to test the waters. My wife is going to be getting a Masters degree for a couple years after I finish mine. As of right now, I don’t have a career in mind. I am currently employed full-time, but that means that I have 133 other hours in the week to build up my empire. It also means that I have some job security. If my ventures fail, it’s not the end of the world. I literally have nothing to lose but the free time that I don’t know what to do with anyway.
So, what is this new direction exactly? It’s exactly what I am doing right now as I type away. I am investing my time and money into building passive income streams. Much of this will be online business ideas because of one simple idea – very little upfront costs. Since I have very little money that I am willing to risk on this new idea, this makes perfect sense. I also have lots of free time (other than finishing grad school). Why not try to do something life-changing?
To the ‘Nay-Sayers’
Some may think I am absolutely crazy and delusional, but I really don’t care. Some may think I am jumping into deep water without learning to swim. After all, I have only been blogging for about 3 months now. Other bloggers have advised me to wait a while before making the plunge with another blog. While I definitely value their opinion and they have experience to back up their beliefs, they don’t know me that well. When I get something in my head, I do it. It doesn’t mean that I’m illogical – just determined. I see what I want and I do everything I can to get there. If it means sleeping less or learning new things, even better! Plus, I really enjoy blogging!
I also know that I have a lot of great friends at Yakezie to support me! They have already been really supportive to me as I develop my other site, and now I am joining the challenge (with this site).
My Big Dream and Why it Matters
I know I have been dancing around this idea… I know you are wondering what my dream is exactly. Well, I can’t define it perfectly just yet, but it is along the following lines. Work hard to build up passive forms of income. The various forms include real estate, blogging, and a few other online business ideas. I have only been blogging for 3 months, but I have already made money. Six months ago, I didn’t even know that blogging can generate an income, let alone make a 6 figure income from it.
In case you are worried that my dream is all about money, it isn’t. While Sam (mentioned above) may be shooting for $12k per month from online ventures, I don’t care to make that much. I have told him that with my wife gearing up for a successful career, I have options available to me. I don’t have a set figure in mind. I think that would limit me. I should also be clear that I don’t want to be a millionaire. It may happen along the way, but it isn’t my focus. Instead, I want to generate a sustainable income – because that will stay with me a lot longer than some lump some.
My goal is to generate enough passive income where I can work less days that I don’t work. That means, to create systems where I can generate enough income to more than replace the income from my day job and sustain that income by working 3 days a week. The best part about this is that I think I can accomplish this in the next 2-3 years. Can you imagine only working 3 days a week starting at age 27? What excites me most about this new idea is that if I can accomplish this, it allows me to do so much more with the other 4 days of my weeks. I can volunteer my time for meaningful causes. I could do literally anything I want.
Sound crazy? It may be crazy, but I am already on my way. Stick with me and I will show you how I hope to accomplish this goal step by step. What are you doing?
Good luck! I am excited to follow you on your journey!
Thanks Denise! I will always remember that you were the first to comment.
I love the idea and your determination. I’ll be back to read more!
Thanks Melissa!
Best of luck with creating passive income! It’s possible to do especially if you continue to work hard. Nice layout as well
Thanks, LaTisha! I am going to give it everything I’ve got. What do I have to lose, right?
Good luck! Blogging is not exactly passive income, but it’s something that you can do on your own time. I think it’s much better than sitting in a cubical.
I agree! It’s not completely passive, but it is much nicer than having to work 9-5 M-F. I would much rather pick my own hours. Since I’m not out to make a ton of money, I think I can manage it all in 3 days.
Good luck Corey. I know you can do it. Your determination and motivation are inspiring.
Thanks Miss T.
I wish I had taken more action when I was younger. Way to dream big and act big! Your energy, passion, and enthusiasm should take you far. Thanks for pushing me to go higher and I look forward to seeing you reach your goal!
Thanks buck! If you need someone to push you, I’m your man!
Good job, I am sagittarius and I do shoot for stars as well. Keep it up.
Love the idea and good luck! I’ll be bookmarking for sure.
Thanks. I’m glad you will be journeying with me.
Good luck Corey! With the amount of work you are putting in, I am sure you can do it. I will follow along (and maybe shoot for the stars myself
)
Thanks Suba. I have lots of people here to help me! I wouldn’t be where I’m at without you, Suba. I appreciate all your help.
Good luck Corey! You’re putting in tons of work. You should write an ebook on your secret formula
I may just do that.
Good Luck Corey! You are very inspiring!
Thanks Lisa.
Very cool man! I look forward to following your progress! So you’re shooting for creating income through real estate investing as well, or just with online work?
Thanks Jacob. Yes, I hope to do real estate as well. Although, that is a little farther down the road. I’m thinking of using some of my profits from online for a down payment.
Cool stuff Corey! Real estate is something I could see myself getting in to as well. However, it was so hard to get a mortgage for the condo I’m currently living in (they didn’t like me being a graduate student with a non-regular salary), that I think I’ll have to delay that until after I finish grad school.
Looking forward to seeing you succeed with your new venture Cory!
Thanks Paul!
[...] I just recently started another blog to be able to write about other finance topics. More specifically, my 2nd blog Passive Income to Retire is about my new journey. In my first post at the new site, I detail my new efforts to earn enough money from my side gigs to replace my day job. I know, not too original, but can you imagine not having to work more than 3 days once you are 27? I can’t either, but I am shooting for the stars. [...]
Best of luck with the new blog! Keep building those passive income streams and they’ll be no stopping you.
Thanks! Thanks for being my first fb fan too! I will keep that in mind when it comes to link love.
I don’t think that sounds crazy at all. Truly passive income is a great way to go. One question though: what made you decide to go to graduate school? At least when I went, most of the programs were geared toward people with at least general career areas in mind.
Thanks Jackie – yeah…. good question. I did have a career in mind. I haven’t closed the door entirely, but with my particular career in mind (professor), I would have to do 5 more years and I am kind of getting tired of school.
Good luck with the quest and the new blog. I am subscribing so I can follow your progress.
Thanks CFM! I can’t wait to provide my first passive income report.
Your website is inspiring! Good for you for thinking out of the box and taking risks. We all could learn a lot from you. I look forward to reading your blog in the future.
Thanks. It is quite catchy. I must warn you, I think if you read my blog for long enough, you may find yourself changing your life like me.
Of course, I am kidding – but only to a certain extent.
[...] from Passive Income to Retire and his inspirational post Shooting for the Stars Begins Here “The beginning of my journey to blog full-time starts somewhere. I share my secrets of how I [...]
[...] Corey presents Shooting for the Stars Begins Here posted at Passive Income to Retire, saying, “Find out my new goal to “retire” in less than 2-3 years and only have to work 3 days a week starting at age 27 or earlier.” [...]
[...] at Passive Income to Retire presents Passive Income to Retire, saying “I share my new goal to retire with passive income from blogging and other forms of [...]
You’re years ahead of most of us in this endeavor!!!
Don’t forget dividend stocks
I know – I plan on adding these sometime soon! I haven’t nailed down the timeline just yet, but I know I need to start online, then go to dividend stocks and real estate.
[...] presents Shooting for the Stars posted at Passive Income to Retire. The beginning of my journey to blog full-time starts somewhere. [...]
You’ve completed the hardest part of this goal, deciding that the 9-5 is not for you!
You will certainly accomplish the rest, given enough time. I’ll be following closely.
Thanks Jonathan! I’m glad you will be joining my journey!
Good luck, Corey! I am so excited for you; you’re already doing awesome, and you’ve just begun.
Good luck. I am 28 and trying to dig out. Wish I would have been a little wiser some years ago so I could be working on something like this.
[...] but which one is the best? This was one of the questions that I was asking before I decided to shoot for the stars with this blog. While I have decided to stick to owning blogs, it isn’t always the best [...]
This happens to be my exact goal too. Except I would like to work 5 days a week even when I could afford only 3 so that I could very shortly work no days a week, unless I wanted to. I am late to the party but I will be keeping up with your progress
[...] started this blog to keep track of my progress towards early retirement, because I wanted a change. I had come to the [...]
[...] was possible for me to earn some decent money with my blog. I started dreaming big and decided to shoot for the stars by declaring my goal to “retire” by the age of 27. I hope to have enough passive income [...]
very motivating. keep up the good work. my focus is investing in stocks though. keeping it as passive as possible.