4 Ways To Earn A Living In 2020
Oct 06, 2020So you’re a dad tired of the 9-5 grind, but you don’t see a way out? You’re tired of having to ask your employer for permission to spend time with your family. Or Vacation or PTO as they call it. And you’re looking at the future accepting that this is probably the way it’s always gonna be.
What if I told you that there’s another way?
What if I told you that this phase you’re currently in doesn’t have to be permanent?
Most of us, if we’ve been brought up in traditional school, we were taught that you go to school, get a degree, get a job, get married, buy a house, and retire at 65, with your 401k.
Wow, what a great life right?
Let me work until I’m old and gray, then enjoy my freedom. Then I can take vacations and travel the world and do all of the things I’ve always wanted to do, but couldn’t because I had a job to go to every day for the past 30 or 40 years.
Does that sound like a great life?
Now I’m not knocking jobs, I know they’re essential to making a living. The issue is in becoming complacent with a job and sticking to only that form of making money for the rest of your life. Some people place so much importance on their job, that it runs their life. Instead of the job being part of your life, it becomes your life.
I had this happen to me in my previous job working for a prestigious tech company. I would speak to 100s of people on a daily basis and for a while this job became my life. Even when I wasn’t at work, I was thinking about it. If a customer made me upset, I would bring it home. And my family would suffer for it.
One conversation I had with a customer woke me up to where I was heading. I met a customer who was waiting for some tech support and we started talking. He told me about his success and how he’s had a chance to travel the world and make a lot of money due to his job. He’d been doing this job for almost 30 years.
He looked over at a baby across the table who was laughing with the mom and dad making silly faces, and he said, “I never got to accomplish that though.” He was on his 4th marriage, never had any kids and all his marriages didn’t workout because he was traveling all the time. He was never around.
I guess that’s the sacrifice you make when your job becomes your life.
He said, with teary eyes,
“Don’t make the same mistake I did kid.”
This random stranger woke me up to the fact that I needed to start seeing things a little differently.
I knew I didn’t wanna be in this guy’s position 30 years from now.
So what other ways are there to make money besides working a job all of your life?
That’s when I discovered something called the Cashflow Quadrant.
I got the concept from a book called Rich Dad Poor Dad by Robert Kiyosaki.
The Cashflow Quadrant states that there are essentially 4 categories we can enter into throughout our life to make money.
It’s broken down into 4 letters, ESBI.
In the top left you have E, which stands for
Employee
This is pretty much the majority of the population. We get employed by a company and we work for a certain amount of dollars per hour. We exchange our time for money. Contrary to popular belief this is the easiest way to make money, which is why most people have a job.
In this quadrant, in most cases you get benefits, paid time off, a 401k retirement account and even some discounts on products the company may sell. Now on paper that all may sound good, but how long can you go exchanging your time, which is your most valuable limited resource, for money?
Most people will go all their lives, happily doing this not realizing that there are 3 more quadrants you can jump into.
On the lower left we have S, which stands for
Self-Employed
or Specialist. This can be someone like a Dentist or a Doctor who has a private practice. A business owner with a store or restaurant. You work on your own terms, you’re the boss and you make all the rules. Now this is definitely a better position to be in, than the E quadrant, but there’s a catch to this too.
The success of this business all depends on you. If you’re a Dentist and you wanna make more money, you gotta see more patients. Not only that but you have to pay your staff. If you go on vacation, your business doesn’t make any money because you’re not there to work. There’s a lot more risks involved in this quadrant and while you can make a lot more money, you’ll still in a sense be trading time for money.
The right hand side of the quadrant is a lot more lucrative. On the top right you have the B, which stands for
Big Business
In the book it’s described as a business with 500 people or more. Now you may be thinking, that’s a lot of people. I’m not Amazon or Apple.
Well this is why I like to take a more modern approach to this quadrant and look at it as having a business that doesn’t require you to run it every day. Such as an Online Business where you have systems in place that operate automatically for you. Almost like if you had 500 people working for you, but instead it’s all online systems.
If I make a digital course that teaches people how to make 1k in a week. And then build online systems around that course that do all of my marketing, advertising, and sales for me. I only have to do the upfront work and then oversee the systems. But I can have more freedom because the systems do the majority of the work for me.
You can start to see how being in this quadrant can be really profitable.
Before we get into the last quadrant, no matter which quadrant you jump into, you’re gonna need time to do it. And as a busy dad, that time may be hard to find. So I wanna help you help you get more time back by giving you this free gift for joining me today.
It’s called the “Get Your Time Back Challenge.” A simple 3 page guide that will make you feel like you got 25 hrs in a day. Just go to to AlphaDadConsulting.com/Time to claim your free gift.
So let’s get to the I on the lower right hand side which stands for
Investor
or Investing. This is another area that if you jump into will allow you to able to make a lot more money without having to exchange much of your time.
Real Estate investing comes to mind in this area. You invest in a property, buy it at a low cost, fix it up, wait for the property to increase in value and then sell it. Or you buy a rental property that gives you re-occurring revenue every month. What ever the case is, the idea here is to have money work for you.
Stock investments is another way to make money in this quadrant. You put money into individual stocks or index funds and watch them grow over time as the businesses you’re investing in become more profitable.
Even though this is probably one of the most profitable quadrants, it does come with higher risks because anytime you invest money, you’re not guaranteed to make any on your investment. You could potentially lose money.
The truth is no matter what quadrant you’re in or strive to be in, there will be a risk involved. My goal for this video was to show you what options are available and to illustrate the fact that you don’t have to feel stuck.
You can jump around these quadrants and take advantage of all of them to build you multiple streams of income.
Don’t be like the 99% of people that are gonna stay stuck in the E quadrant for the rest of their lives.
Until next time my fellow Alpha Dad,
- G. Vidal
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