Chapter 1: The Allure of Passive Income

Would you consider abandoning your 9 to 5 job if you were earning a seven-figure income through passive revenue streams? The more passive income you generate, the more freedom you can attain.

Photo by Caique Nascimento on Unsplash

Since the end of July, I've been on vacation and will be returning to work in about two weeks. This trip has brought many experiences, but it was Chelsea Marie's insights that inspired me to share my thoughts. While on vacation, I've been living off my passive income because my job doesn't provide paid time off; hence, building passive income is essential. Besides enjoying my vacation, I’ve also found time to study for my board exams between Netflix binges.

Last week, while assisting my husband in choosing courses and schools in Ontario, I realized something profound: you can steer your life in any direction you choose. My vision of an ideal life involves earning enough to cover all my expenses while still having extra funds for investments and plenty of leisure time. I aspire to have control over my life without being constrained by financial or time limitations, ultimately seeking a healthy work-life balance. A life of relentless 9 to 5 labor isn't what I envision for myself.

This brings me to the question of why I am still pursuing my board exams. The cost of one cycle of medical entrance exams exceeds 5000 CAD, with a passing score of over 80%, highlighting the stakes involved. Following the exam, there’s a mandatory training period of at least two years, which could take me away from home.

Perhaps I am motivated by something my father once said, or maybe I feel compelled not to waste over a decade of medical training. However, my drive to pursue this path has waned compared to earlier days. Many of my peers are chasing this route due to the lucrative salaries doctors earn in North America compared to those in developing nations.

Currently, my investment in cryptocurrency trading exceeds 10,000 USD. I started with less than 3,000 USD back in September 2021, and through various withdrawals, deposits, and reinvestments, I've reached this figure. If I continue on this path and manage my debts and expenses wisely, my investments could grow significantly, potentially freeing me from the need for a 9 to 5 job.

Moreover, the idea of sacrificing family time for career advancement is becoming less appealing. Inspired by Chelsea Marie’s prompt, my dream life would involve traveling freely without an employer hovering over me. It’s liberating to have control over my schedule, allowing me to spend without anxiety about finances. I envision a life where all my basic needs are met, leaving a surplus for my desires.

If achieving all this without a traditional job is possible, why not pursue it? As I continue my medical journey, it would be fulfilling to frame it as my boss’s idea of an ideal career, as he often says, “I come to work because I love what I do. I wouldn’t want it any other way.” I wholeheartedly agree with that sentiment. If you're interested in boosting your passive income, I recommend starting your journey here, here, and here.

“The greater the passive income you can build, the freer you will become.”

-Todd M. Fleming

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Chapter 2: Strategies for Financial Independence

In this video, "How to Quit Your 9 to 5 Job (& Make MORE Money)," discover strategies for transitioning from traditional employment to a life of financial freedom through passive income.

Learn methods to increase your income without leaving your 9 to 5 job in the video "How to earn more income without quitting your 9-5 job."