[LR 2/6] The simple math behind your dream day
Good to have you back.
So yesterday I gave you an assignment: write out your perfect day. And I mean really write it out, in detail, on a piece of paper.
If you haven't done that yet - do it now!
But if you have - there are two things I want to show you about it.
First, look it over. Do you notice how calm you suddenly become when you look at that day? How any anxiety or stress you have running in the back of your mind just kind of shuts off while you daydream about living that day?
There's a reason for that. And that's because, I'm guessing, your day is comprised mostly of a few basic activities you love to do…
With no stress or pressure associated with getting them done…
Because you'd get them done anyway if you had the free time.
I'm talking about spending time with people you love.
Or traveling through new countries with no countdown timer dictating when you have to be back - if ever.
Or working on passion projects that you'd do whether you got paid or not.
Or being able to read, and relax, and stimulate your mind.
And doing work - but work that you love to do.
My guess is that everything in your dream day list is simple.
That's the beauty of working a job you strongly dislike for so long. You learn to recognize and prioritize what actually matters to you. What really makes you happy. And usually, it's not much. It's the simplest stuff.
But do you see anything odd about that list? This brings us to the second thing I wanted to show you about your perfect day. Which I need to preface with a story.
Back when I worked my 50-hour-a-week finance job, I spent money like nothing else. Expensive dinner out with lots of drinks? Sure. Happy hour with my friends multiple times a week that I knew was going to come out to $100 each time when it was all said and done? No problem. Brand new car on lease with all the best packages included? Done.
And that doesn't even cover the computers, and toys, and gadgets that I'd buy when the craving struck. I mean, I had the money, right?
But the thing is - as soon as I started living my dream day…
I found something interesting: I didn't want any of those things.
When I was traveling whenever and wherever I wanted, and able to golf in the middle of a Tuesday, and able to work only on projects that excited me, and able to spend almost unlimited time with my family & girlfriend (now wife)…
It's like I was operating with my tanks completely full. I didn't have the time or desire to spend my money on other things to try to fill a void.
Which, I recognize now, is exactly what I was doing when I worked my old job: fill a void inside me. But living my dream day, there was no void to fill. I was completely fulfilled and happy.
And even though I was traveling, and playing golf, and maintaining a home base in a relatively pricey city (Portland), and being able to sleep in as late as I needed every day, and living what most people looking on would consider an expensive lifestyle…the opposite was true.
It was actually cheap as hell. In fact it still is cheap as hell.
How much? Well, let me break this down. We'll start first with Figure A: Living At Home In Portland. Assuming you're making smart money decisions (i.e. you own a used car which is paid off vs. a new car which costs $500/month) it looks like…
Of course these are just rough estimates, and they don't include taxes (which will be variable for everyone), but the bottom line is - my baseline expenses to live my perfect life in a relatively pricey city are only $2200/month.
(Replace "golf expenses" with one of your dream day hobbies.)
Tack on an extra 40% for taxes and you're at $3080/month all inclusive.
But let's say you want to live the digital nomad lifestyle for a little bit (or a long bit). I did that for seven months, living & traveling in Thailand with no home base back in the USA, when I first left my job. And I know people who do it full time because they love the digital nomad lifestyle. Assuming you're traveling through more inexpensive regions (South America and Southeast Asia as examples) then let's look at Figure B: Living The Digital Nomad Lifestyle…
Take note that the "transportation" figure above includes renting motorbikes AND flying to other countries (since most developing countries have EXTREMELY low-cost airlines that fly to neighboring countries). "Rent and utilities" covers the expenses of going to other countries as well.
These expenses essentially amount to living like a king (or queen) in Southeast Asia or South America…and renting fully-furnished apartments if you'd like.
Not to mention that the "food" expenses are 99% food you eat out.
It's not common to have a kitchen or cook your own food in these countries.
Again tack on an extra 40% for taxes back home (gotta pay your taxes!) and you're at $1638/month all inclusive. Ridiculously cheap for your dream day.
But now what about a lifestyle where you have the home base AND you're traveling internationally? That's my preferred lifestyle. I travel for 3-4 months out of the year and spend the other 8-9 at home with my wife. (And, whenever possible, she's there with me during the 3-4 months I'm traveling.)
Well here's the thing:
- A lot of my flying happens either with miles I've got on credit cards (aka travel hacking) or picking up ultra-cheap last minute flights (which come up all the time and I can take advantage of since my work comes with me everywhere).
- My food expenses actually go down since food is almost always cheaper for me when I travel abroad than when I'm at home (particularly the more developing countries I love traveling to).
- Expenses like golf actually go down or go away entirely
…which ultimately means that when we look at the expenses:
…they only rise a tiny bit from my normal home living expenses.
Tack on an extra 40% for taxes and you're at $3990 all inclusive for a "maintain a home base in a pricey city but travel internationally" lifestyle. Essentially living a life most people would kill to be able to live. And that figure is on the high end (since I've inflated the dollar figures a bit to be safe).
Now maybe you have other expenses. Maybe you have kids and those add expenses. But maybe you also have zero desire to travel, or don't have more expensive hobbies (like golf), or you live in a MUCH cheaper part of your country where rent/mortgage payments are tiny.
Maybe you're even a daredevil who prefers to live without health insurance and/or travel insurance. (Which I DO NOT recommend - unless you're living in a country where medical coverage is either free or stupidly cheap.)
There are tons of variables here.
But I can just about guarantee that, when you do the math (and subtract all the extraneous expenses you have in your life now to "fill the void")…
Your perfect day costs the same or less than mine.
Anywhere from $1000/month - to $4000/month at the absolute peak.
And, more generally, somewhere in the middle - around $3000/month.
Let's go with $3000/month since that's probably the most common.
What that means is that, if you had $3000/month coming in predictably right now, you could quit your job - and start living your perfect day EVERY DAY starting right now.
Of course you likely want more than that. You want to be putting money into savings, and retirement accounts, and have money to splurge with.
But the point is - you can be FREE right now with just $3000/month coming in.
The stress of your job could be gone.
The mental burnout and exhaustion could be gone.
The lack of free time and freedom to do what you want could be gone.
All you need is a simple business that brings in $3000/month predictably and reliably - and you're free right now. And then, in your free time, you could build on that business month after month - slowly bringing in more, and more, and more…
Until you're not just FREE - but you've SURPASSED your current job.
Now what if I could show you how to do that?
How to build an ultra-simple business that brings in $3000/month predictably & reliably almost immediately, in just 3-5 hours of concentrated work a day once you've got it established, with a simple way to grow it month after month?
The rest of your time and energy is yours to do what you want.
To do all your "dream day" activities…
Whether that's working on passion projects…
Building a bigger business about something you care about…
Travel to (and exploring) new countries…
Or just spending time at home with your family.
Now obviously I can't make you any promises or guarantees here about income. I don't know you or your work ethic or your ability to follow instructions.
But assuming you had that $3000/month coming…
And the money was coming in month after month…
With essentially 3-5 hours of work per day (which you could do all at once)…
And it was easy to ratchet up that income month by month…
Would that be something you wanted?
If so - tune in tomorrow.
And I'll start showing you how I did it.
Without any special marketing or tech skills.