FINANCE 102 (?). EVERYTHING I HAVE DONE TO MAKE THIS MUCH IN ONLY A YEAR IN PASSIVE INCOME
& this time I even brought receipts.
Apart from the not even subtle flex, this year has easily been one of my most successful financial years yet. When I say passive income we are not counting investment returns (that financial statement isn't out yet and does not matter, it's automatically reinvested. Not even for flexing purposes, there are a few things I need you to understand about me and these numbers:
First, none of this is salary. I work a medium wage job that pays in four figures monthly. It also does not include other income sources that require my involvement. Passive is the key term.
Second, apart from right at the start, I've had no personal involvement in any of these sources. None. Not even calls or texts or emails, fully automated.
Third, it is all tax free. It all belongs to me. One of them is after tax but the rest are 100% what I've made.
These are three completely different streams, and these are between November last year to date. One year.
No it's easy or simple or fast.
(sidenote) I take my financial statements in Nov and plan for the new year bc i don't count dec as even part of a productive year.
My passive income (including investments) is my largest source of income and will always be.
(because I will always bring the receipts)
I am no financial guru so I can not directly give you financial education, but I can tell you what I do and if you get it, good for you.
Soo then, steps I've taken to be able to get to this financial position at 24 (I turn 25 next month btw;) ) from, well, since as far back as I can remember. It's a process.
-> First, Investing heavily in financial education. What has this looked like for me?
I've probably gone to 30+ finance seminars and workshops centered around investment, asset management and wealth distribution. I went to my first at 19 and last in March. If i have to pay I will. If i need to skip town, I will. I go, i listen, I ask questions, I make connections. I make a plan of what I want to learn and focus on that, not haphazardly consuming content as long as it's finance related.
Finance bros (is a gender-neutral term pls). It is a finance bro that told me to buy my first ecommerce business before covid hit. It was a finance bro that got me to buy the business that has made me the last screenshot for less that 10k. It was a finance bro that taught me to work low wage and make my bank in assets so I don't overpay in tax. It was my finance bros to teach me what to invest where and how to keep my banks offshore and to set up my trust fund (plus law girlies ofc mwah) and get my LLC. Finance bros save lives. I'm not good with money. I have people that are good with money.
-> Second, i tied up my loose ends early enough. Loose ends? Yes, the financial vampires that had no return on investment.
First is societal obligation aka giving back to the community. Wrapped that up in mentorship and volunteering (a lot because I'm not giving my money to people that have more than me that's wild.
Second- my family. Shout out and huge fat thank you to my extended family for being extremely sh!tty openly to me and my nuclear family when we were younger so absolutely no one faults me for cutting them off amen. For my nuclear family it is kind of obvious whoever is the most financially advanced provides for the family and that's fine if it means a set amount every month not calling me whenever you want some baby shower or whatever. Loose end. Set up investment accounts for each of them and invested monthly up from my third year of high school to second year of uni (Three- four years) while teaching them how to make money work for you then just- pulled back. No one can say I abandoned them and every four months if I want to instead of sending money home I send it to their accounts. Tied up that loose end bc they can reaally reallllly bankrupt you if you're not careful.
-> third, always focusing on the ROI and what is important to me. If it does not have a higher return on investment what do I even need it for? What does this mean?
It means befriending the kids at Fashion and textile faculty in uni and having them teach me how to work clothes and make up into my body and into achieving the lifestyle i want through them and then finding my ROI.
Having my eyeliner tattooed for <50$ in my home country so I don't need to buy eyeliner and reapply every ten minutes. It means getting my bags made for <50 each in my home country too instead of buying a high quality bag for God knows how much in my Country of residence.
It means buying stocks not bags and dresses because one appreciates and the other depreciates and dresses are not important to me.
It means perfecting my thrift game because i value quality, not price tags.
It means moving to a higher end area although rent is higher because the security, the gym, the people, the amenities, all things that are of value to me.
It means investing in things that I know will give me a high return in investment and using my money to buy value, not things. Before I even touch my money for purchase I am already calculating its value vs my value system vs return on investment.
-> Fourth, Building discipline. I have invested the MOST in this area. I can not even stress this enough - discipline is the highest value skill you can ever learn. According to google discipline is "the practice of training people to obey rules or a code of behavior, using punishment to correct disobedience". And that is exactly how I did it, used punishment to correct myself.First, deciding the rules and code of behavior I wanted to follow. Second, making myself follow it using the nacient learning method, reward and punishment- where reward is normalcy and punishment is just :).
In high school, running for double captainship because that would force me to work and work hard. The pressure of the expectations just one captainship demanded was hell, make that two plus having to keep my scholarship and yeah. One wrong move and I'd be stripped of them both, and that forced me to never make mistakes. And it was really, really hard to not make mistakes.
Knowing my ADHD brain has an extremely hard time being consistent, I learned pretty early I need external help to keep myself in check. Realized that help has to come from someone I respected after trying to make it work with friends and failing. My first mentor cost me a good 5000$ every month (not so high it would paralyze me but high enough i felt the pressure) and when I slipped up i owed them 500$ on the floor. Missed something on my to do list with no good excuse? 500$. Failed my exams? Ate junk? Bought something without considering the ROI? Did not reach my health goals ? 500$. On the spot. No stories no argument no nothing. You mess up six times and the seventh you just automatically cry even before you think of messing up because damn. Reward and punishment. After a while (One year to be exact) it gets so deeply programmed its part of my ADHD.
Accountability partners. Exclusive. High functioning. A pretty 1200$ every month but I don't mind, it's worth it. Extremely high ROI.
-> Heavily investing in myself because I will always give myself the highest ROI.
Blood checks every quarterly because my health is everything. (Chinese herbalists, extremely cheap).
Educating myself heavily in all the fields that are important to me. Communicaton. Languages (Learning my tenth if we count sign language as a language and eleventh if we count braille). Gut health (Filthily educated in this bad boy. PHD level). Psychology and human behavior. Using fashion, beauty and styling to work for me. Violin. Equestrian. Everything I like. Double bachelors and a weird number of accredited certifications.
Therapy. I'm no longer in therapy but this was probably the best thing I ever did. Worth every dime. Went through six therapists until i found my stoic reality-based gem that was not trying to make me feel better but get better and survive the world as is.
My social life and friendships. Not even for social climbing, more for having friends and building my community and tribe. I'm not a lone wolf or sigma I'm a social person that's also part of a social species. Pouring into my friendships and networks has had a super impressive ROI and has been worth the trouble.
My reputation and social / public image. Nothing I guard harder than this, not even my money. I am not an idgafer i will never be. A good name is better than riches. I actually care what people say about me and carefully manipulate them into saying what I want.
Skill amassing especially in areas in consider essential. Home keeping. Sewing. Personal finance. Health and nutrition. Social skills. IT. Music. &c &c.
(will probably add as I remember. will also probably delete there's something really cringy about bringing receipts)
