Have you ever had a hobby that has changed your life? Maybe you’ve found true happiness or enjoyment in your time, but I would venture to guess that it’s not everyday that a hobby can completely alter your life. Despite some recent challenges, blogging has slowly change my life in more ways than none. Today, I thought I would take some time to reflect on what has happened in the past nine months and how I see it going forward.
As I have been trying to narrow in on my specific strategy to making a living from my online efforts, I keep coming up with this notion that bigger is not always better. On Monday, I mentioned that I keep building and buying more blogs. It was an addict’s first confession. I have bought into the belief that if I start a lot of projects now and continue to build them up over time, eventually my online income will take off like never before – and that’s saying a lot considering my most recent income report. Yet, even as I build up my online portfolio of blogs or empire (as many call it), I have a strong conviction that many are over-doing it. Here’s what I mean…
Over the past few months, I have found myself making the plunge in starting and buying more blogs that I ever would have thought imaginable. My wife tells me it is an addiction (and that’s probably true), but in reality, it is all part of my master plan to retire early. I am currently working at a job that is a decent job for right now. I am finishing up my Master’s degree and due to my sudden fascination with earning a living from blogging, I have decided to switch paths on my career. In order to achieve my crazy goal, I know I have to build up passive income. This is where more blogs come into play. To be quite honest, I think there is something to say for focusing all of your efforts on one blog and building it’s traffic up before starting on a second blog. I often wonder if I am not spending enough time writing and building up my first site, but alas, this isn’t my approach.
Have you ever dreamed of being able to work your job from anywhere? Not being tied down to a 9-to-5 job that requires you in the office your entire career? I think a lot of people have and it’s only natural. Life gets boring when it’s the same thing over and over and over. Over the past 7 months, I have slowly begun to realize the possibilities of using my blog income to accomplish this feat. As I have talked about my early retirement plan and transitioning to working 3 days a week to maintain my income from my online ventures, I have realized I could achieve location independence. In other words, I could work from where ever I wanted.
It was about 8 months ago that my eyes were opened up to the possibilities of earning income online. I never thought people who blogged could make a profession out of it. I decided to venture out and start my own blog back in August of 2011. It wasn’t this blog (this one was my 2nd blog), but I realized that it 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 in 2.5 years that I can not have to worry about getting another day job.
For all of those who are faithfully following my progress on this site, you know reporting my income is a tradition at Passive Income to Retire. My goal is to have enough income to more than replace my income from my day job. I want to make sure that I can sustain a steady income before I do something crazy like retire at the age of 27, so I am building up my income now to see if I can maintain it for a while before pulling the plug on the traditional job. My goal is to build up a stream of steady income that I can sustain by working less than my day job.
A few months ago I wrote a post about the benefits of owning blogs vs. staff writing. In the post, I came to the conclusion that my strategy is going to be owning multiple blogs. I do staff write for one site, but I am starting to think it isn’t worth my time. The truth is that when you start earning hundreds and then thousands of dollars from a single blog each month, the extra $40 for about 3 hours of work (to write 2 staff posts) hardly seems worth it. Over the past 3-4 months, I have been writing for my two blogs (as well as others I have been developing).
There are many ways different types of investments. On this blog, I mainly focus on passive investments because that is a huge part of my plan to retire early. (Essentially by building up passive investments and focusing on cash flow, I will be able to retire within the next 2 and a half years.) Yet,… Read More »