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Want to Quit Your Job? Find Out How

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Creative Commons License photo credit: 416style

Many of us dream of quitting the day job and living a life of luxury doing whatever we want all day. Or at least working less. It’s not impossible, and here a few tips to help you on the path to being independently wealthy:

  • Find extra income sources - for example, by doing freelancing or consulting work in addition to your day job. Yes, this sounds like working more - but it’s a transitional thing, both making you more money and opening up possibilities for part-time work in the future.
  • Find passive income sources - having an investment properly with rental income, earning money from advertising on your websites or getting royalties are all forms of passive income - you don’t have to do anything more to continue getting income coming in.
  • Invest often but smart - diversify your investments, get advice from the best people, and regularly save more money to invest.
  • Track where your money goes - as well as developing and following a budget, keep a written record of where the money really goes so you can adjust your spending and/or your budget accordingly.
  • Stay married - really! Getting divorced stops many people from becoming independently wealthy so it’s worth investing time and energy in keeping your marriage together, if it’s for the best.

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This entry was posted on Sunday, September 7th, 2008 at 3:55 am and is filed under Financial Planning. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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