• The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success
  1. Join 50,000+ entrepreneurs
    who are kicking butt and
    winning their dream life.

    Unscripted™ Entrepreneurship:
    A Business That Pays More Than Money, It Pays Time.

    "Fastlane" is an entrepreneur discussion forum based on The Unscripted Entrepreneurial Framework (TUNEF) outlined in the two best-selling books by MJ DeMarco (The Millionaire Fastlane and UNSCRIPTED™). From multimillionaires to digital nomads, the forum features real entrepreneurs creating real businesses.

    Download (Unscripted) Download (Millionaire Fastlane)  Register
    Registering for the forum removes this block!

Multiple sources of income

Discussion in 'General Entrepreneur Discussion' started by Brian Suh, Feb 26, 2019.

  1. Brian Suh
    Offline

    Brian Suh Bronze Contributor Speedway Pass

    Messages:
    154
    Likes Received:
    179
    Joined:
    May 19, 2018
    Gender:
    Male
    Rep Bank:
    $1,058
    Hey everyone, I am 23 years old and am looking to achieve financial freedom by the age of 25 (or 24). My total yearly income would ideally be $250000. The amount I need to live very comfortably anywhere I want is $72000 a year but that is not after all expenses paid. I obviously would like money saved up for the future and for my future children (yes I know I made a thread about not having kids but I changed my mind).

    I was wondering how many sources of income I would need to achieve this goal. What sources of income do you guys have to achieve your financial goals?
     
  2. NMdad
    Offline

    NMdad Silver Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

    Messages:
    410
    Likes Received:
    776
    Joined:
    Aug 6, 2017
    Gender:
    Male
    Location:
    New Mexico
    Rep Bank:
    $4,663
    OK, so let's break it down:
    • $250k/year = $20,833/month
    • What problems could you solve where you could be paid:
      • ~$1,042/month from 20 clients
      • $100/transaction from 208 customers
      • $50/transaction from 416 customers
    You get the idea.

    There are tons of ways to generate income that meet the CENTS criteria. But having lots of customers in 1 business, or having multiple separate businesses reduce risk.

    You might want to look at @Andy Black's thread:
    Who have you helped? (and ask yourself HOW you can help)
     
    Jello, Andy Black and minivanman like this.
  3. Brian Suh
    Offline

    Brian Suh Bronze Contributor Speedway Pass

    Messages:
    154
    Likes Received:
    179
    Joined:
    May 19, 2018
    Gender:
    Male
    Rep Bank:
    $1,058
    Yes I understand. My active and passive business will revolve around helping people (personal trainer). However, I don't think things like real estate or stock market "helps people" (you can argue it can in a certain angle).
     
  4. Brian Suh
    Offline

    Brian Suh Bronze Contributor Speedway Pass

    Messages:
    154
    Likes Received:
    179
    Joined:
    May 19, 2018
    Gender:
    Male
    Rep Bank:
    $1,058
    I
    I currently have a few streams
    Online personal training service
    Supplement company
    Real estate
    Stocks
     
  5. Brian Suh
    Offline

    Brian Suh Bronze Contributor Speedway Pass

    Messages:
    154
    Likes Received:
    179
    Joined:
    May 19, 2018
    Gender:
    Male
    Rep Bank:
    $1,058
    I can't think of any other (Embarassing but I am a complete noobie in the financial game, give me a break)
     

Join 1000s of entrepreneurs who are rewriting life's script and winning financial freedom.

---- ----

You must be a member to join the conversation.

Create Account

Join the community fast and easy!

REGISTER

Log In

Already have an account? Login here.

LOG IN

Share This Page