Hi everyone, I am interested in finding out how to generate money outside of a 9–5 job. I am 21 years old, and after working a few jobs over the last few years, I have realized that I do not want to spend the rest of my life in a rut. I know this won’t happen overnight and that everyone has these aspirations, but even if I fail, I am motivated to accomplish this goal, so any help would be greatly appreciated. I would therefore be grateful for any guidance on where to begin. By the way, I already have $7,000 in savings in my bank account.
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In any case, be wary of anyone who approaches you claiming to be able to “escape” the 9–5.
However, since you inquired, enlist in the military to try something new.
Did you end up enjoying it? Decided to pursue it as a career but didn’t enjoy it?
You can still take government-funded trips throughout the globe.
Ensure you do your homework before joining to avoid being stranded in one place doing administrative tasks.
You will be forced to perform anything the military asks of you for at least three to five years; it is a commitment rather than a simple “I’ll try it out and see where it goes.”
Here are some ideas to help you generate income outside of a traditional job:
Leveraging Your Skills and Interests:
- Freelancing: Offer your skills like writing, graphic design, web development, or video editing on platforms such as Upwork or Fiverr.
- Online Tutoring: Excel in a subject? Share your knowledge by tutoring students online through platforms that connect tutors with students.
- Content Creation: Enjoy writing or video editing? Create content for websites or YouTube channels and monetize through advertising or sponsorships.
Using Your Savings to Start Small:
- E-commerce: With your $7,000, consider starting a small online store. Research in-demand products and sell them on platforms like Etsy or Shopify.
- Affiliate Marketing: Promote other companies’ products on your website or social media and earn a commission for every sale you generate.
Other Options to Consider:
- Ride-Sharing or Delivery Services: Companies like Uber, Lyft, and DoorDash offer flexible work schedules.
- Investing: Consider investing a portion of your savings in the stock market or real estate, with proper research for long-term growth.
I had the opposite experience—I freelanced full-time for the past decade before transitioning to a full-time flexible remote job with one of my clients this year. The decision to take the full-time job stemmed from the overwhelming stress of freelancing, despite its success. I found myself working constantly, unable to take time off due to various client deadlines. Opting for a full-time position has allowed me to have actual days off, greatly improving my work-life balance. This change has positively impacted my relationship and sleep quality, as I no longer experience stressful dreams about projects. While I did take a slight pay cut (from my freelance full-time salary of around $130k to $115k), I still freelance on the side and enjoy excellent benefits.
Perhaps you could consider freelancing while maintaining your current job? What are the benefits of fully committing to freelancing? It may lead to increased income, opportunities to work with new clients, and alleviate boredom, all while providing security. Alternatively, you could explore job opportunities at different agencies, potentially negotiating a higher salary.
At 35, it’s advised to have at least double your annual salary saved for retirement, so that’s something to consider based on your lifestyle.
Regarding freelancing, try leveraging LinkedIn to connect with potential clients. I found most of my clients through platforms like Craigslist, Google, and LinkedIn. Additionally, setting up a website showcasing your portfolio and services can attract potential clients.