I Earn $10,000 a Month in Passive Income and Still Work a 9–5

Hold on to Your 9–5 Dearly

I’m not kidding — despite earning more than $100,000 through various sources with what’s now minimum effort, I still spend my week working a 9–5. I’ll move on to the reason in a second, but before I do I should stress that this article won’t teach you how to create a new revenue stream. I won’t be revealing what industries I’m in or what I do here. Instead, I’ll be discussing the value of keeping a 9–5 once you’ve established an additional revenue line to (hopefully) stop you falling into the same trap countless others do. If I stop one person from making this mistake, I’ll consider writing this a success. Prerequisites aside, let’s dive in…

Ignore the So-Called ‘Gurus’

Let’s cut to the chase: Starting a business is a risk. Could you afford it if your sole revenue stream dried up over night? Probably not. Statistically, larger, more established business are less likely to fail — they’ve already weathered the storm and have emerged the other side. Gurus will tell you that you should quit your job immediately if you’re making more than you net there through your other ventures. This is dreadful advice. Chances are, you’re just starting out. You’ve worked hard to scale to the level you’re at, but it can still take a turn for the worst, so you need to be diversifying. The best way to do this is to continue to work a 9–5 in a field you’re interested in.

I decided to choose an industry similar to the one my business is in, but not so much that there would be a conflict of interest. This way I’m continuing to hone my craft, working on things I love, while also learning new skills that I can transfer to my other projects when I’m out of the office (remember: I’m not operating in the same industry so what I’m doing is totally kosher — check your contract to make sure though and consult your employer if you’re still unclear on what you can and can’t do). Plus, if something does go wrong I have a career to fall back on. I’m continuing to rack up experience in a corporate role and experience in a startup environment at home.

Do Some Cold, Hard Math

hI don’t intend to work a 9–5 forever. I’ll continue to until I’m financially sound and have more than enough stashed away to keep me afloat should one — or all — of the additional revenue streams dry up. For now, I’m covering my bases. I’ve scaled to more than $100,000 in annual revenue over the course of half a decade. People often ask how I make the time to work on them and stay ahead at work and the answer is simple — I just do. It’s something I enjoy and care about, so when I’m sitting there in front of my computer testing out new ideas it doesn’t feel like work. I’d be doing it if even if it wasn’t netting me a small fortune in the background, and that’s the secret sauce.

So, please, when your side business starts generating revenue (and it will) don’t rush to quit your 9–5. You never know when the cash will stop flowing in. But your 9–5 is stable, assuming you aren’t working for a startup. You have a baseline. You know exactly how much money you’re going to be taking home each month and when. Continue to live as if this were the case, even when your income starts to rise, until you know you have enough in the bank to support the new commitments should one source be severed. I’ve spoke to countless advisors over the course of the last eighteen months or so and they all told me the same thing: The trick to financial freedom is planning.