Today’s blog post comes from Perry Wilson of Stupid Is The Norm, where he blogs about how anyone can become wealthy using some of his life hacks. Here he explains ‘How anyone can retire in 10 years’ if you are willing to work for it.
So I said to my wife ‘if you have a problem or a complaint and you bring it to me, I’ll tell you how to fix it. If you don’t want to fix it and you only want to moan and want someone to agree with you and say ‘there, there’, talk to your friends. That’s what they’re for’
Woah! Before you hate me, I’m a nice guy. No, I really am. It’s just I’m short of time.
I’ve always been short of time. But at 57 years old, I’ve even less of it than ever.
I’ve got maybe 10 years to build up sufficient funds to retire. It’s not enough time.
So, I chose to do something remarkable – I have to create time. And I have to do that because I’ve wasted time in the past.
So, how do I create time (and lots of it)?
I have to use the time traditionally set aside by normal people for family and ‘down time’.
The Government now consider 35 hours as full time work. It used to be 40. (Where did the other 5 hours go btw?)
So that’s 7 hours per day work, say 8 hours sleep, leaving 9 hours free time.
What if, instead of watching Love Island (which I haven’t btw. Honest), I use some of that 9 hours free time to make more money? What if I use A LOT of that time to make more money?
If I use 7 hours of that free time to make money, that means I’m doubling my work time. It means I can squeeze 20 years of work into 10 years. I’ve created 10 years of extra work time.
I’ve also doubled my annual income, meaning I can save the equivalent of my previous year’s salary every year!
Better still, by using the savings suggested by Melissa, I could save more of my original salary too.
And that’s what I do. Here’s the numbers;
Monday – Friday 0500 – 1600
Saturday – Sunday 0500 – 1400
Total hours worked – 68. It’s the equivalent of working 2 full time jobs.
(I’m a cab driver in case you’re wondering.)
Some months I can save £1800.
There may be some of you who question the sense of working such eye watering hours, and others who question there own ability to replicate what I do, so let me address both those points.
Firstly, the sacrifice is huge. No holidays, no down time and no family time for say, 10 years. However, if you did this and invested that £1800 pm for 10 years in an Index Tracker, you’d amass over £300,000. That’s a retirement fund. So, I guess the question is ‘is the sacrifice worth it if you could retire in 10 years?’
For me, there is no choice. At 57 this is my last roll of the dice.
Your family will forgive you for not spending time with them during those 10 years, when they’re relaxing on your 50’ yacht in some sleepy Mediterranean harbour.
This regime isn’t restricted to the desperate however. By replicating the hours at age 18, you could choose to retire at 28.
Regarding the second question from those who aren’t able to to squeeze more hours from their current employment and therefore believe it impossible to do what I’m doing, you need another income. Another job.
What job you select will depend upon your circumstances.
If you can drive and own a car, you can deliver fast food. I have a friend tops up his income by working 3 evenings per week from 5 until midnight and makes £270 cash per week (and a free supper every night). Do this one evening a week and you’re earning an extra £360 pm!
Or how about working weekends as an Uber driver?
Can’t leave the house because of childcare commitments, or you don’t drive? If you have a laptop and access to the internet, then how about matched betting? It’s risk free, requires little seed money and you’ll earn around £15 – £20 per hour from your bed if you chose to.
How about starting a blog? What are you passionate about, what obsesses you or what do you tend to think/talk about the most? Why not write about it? You can easily make £100 pw in a matter of weeks. Unsure how to do start? Get in touch with Melissa for more information.
Bar work maybe? Many a student has worked through their college years working bar.
All and any of these are low skilled opportunities to generate more income.
There really is no excuse.
If you really desire something, you’ll overcome any obstacle in your way.
Yes it hard, but as anyone who achieved anything will tell you, there really is no substitute for the grind required to achieve it.
Of course, if all you’re doing is moaning and just want some sympathy, then as I said in my opening paragraph, maybe you should go talk to one of your friends. One that also likes to moan and DO nothing about it.
If you enjoyed this blog post, then why not take a look at some other posts on this site