At one point, we have all said – I don’t want to work anymore, but I want to gain financial freedom. It is a bit counterintuitive to say, right? But hey, who doesn’t want to? So, in this article, we’ll give you a few of the options you have to achieve financial freedom without being torn by a day job!
To have a go at financial freedom without working, you can try freelancing, monetizing hobbies and skills, renting a space out, creating and selling digital products, starting an online business, and many others that we’ll discuss!
Can I Earn Without Working?
Technically, yes, you can. In fact, a lot of people now – especially the younger generation prefer working remotely. And remotely, but not on top of a mountain! Kidding aside, today’s generation has been a mix of gut and luck, and that’s why a lot of people, even without highly-paying lucrative jobs, are earning north of six figures.
The Need For a Change
The State of the Global Workplace ran a study and found that 60% of people feel that they’re emotionally detached from their jobs. And in today’s time, you can actually be successful even without a high-paying 9 to 5.
Pros and Cons of Leaving Traditional Work
Now, before you hop off and decide to leave the traditional office, let’s go ahead and go through the pros and cons of you leaving the traditional 9 to 5.
Pros of Leaving Traditional Work
Traditional work are known as “traditional” for a reason. If you’re part of the demographic who aren’t fit to it, here are a couple of the advantages of stepping out of the traditional zone:
- You have the opportunity to shine and stand out in the field you choose
- Higher pay is almost always guaranteed compared to a traditional profession
- It has a more recognizable and more positive impact on society
- Creativity will be honed
- Growth and scalability are always on the table – it’s much quicker and much more attainable
- You can jump from one profession to another because most careers are adjacent
Cons of Leaving Traditional Work
For people who are still a step closer to realizing it, there are cons or disadvantages to this, too. To help you gain knowledge of it, here are those!
- Stability can be an issue, especially since they haven’t been established for long
- Schedule can be taxing and requiring
- You won’t have a boss, which means you wouldn’t have a clear path or direction
- Benefits, insurance, and other plans may be present, but not mandatory
- Less work history
Let’s go through some of the things you can do and try if you’re part of that demographic, with the goal of being financially free and independent.
9 Ways to Make Money When I Don’t Want to Work
Let’s face it – we all have to put food on the table. But, what if you’re sick and tired of working? We present nine of the best ways to make money while escaping the 9 to 5!
Offer Freelance Services
The fastest thing you can do is to try out freelancing services online. Now, many people would say “but that’s still working, that’s still a job…” It isn’t! Freelancing is far more “than just a job” because it teaches you a couple of things that regular or standard jobs wouldn’t.
In freelancing, you need to learn how to be adaptable. Having one single skill might be the end for you if you don’t! Moreover, accountability is a big issue. Since you wouldn’t be detained or controlled in a single environment, you need to learn how you can be accountable for time and for responsibility.
Freelancing would also give you an edge because you’ll have to source clients out for yourself! You’ll hone skills in communication, creating proposals, and many more!
UpWork is one of the freelancing platforms in the industry that has been well-respected because of its ability to connect the right people to businesses. Here’s their take on how to start your freelancing career in 2023!
Monetize Your Hobbies and Skills
Today, your skills and hobbies can easily be monetized if you know where to bring them. Are you a gamer? A plant enthusiast? You love cooking? A photographer? Well, you can easily monetize your skills online!
Many different platforms are currently accepting all these! For instance, if you’re a gamer, you can go on Twitch and stream your games and get donations from people. Moreover, if you are a painter or a photographer, you can use your art and sell it to people or to platforms that may use it!
There’s really no limit as to what you can do with your skills, especially in the online world today!
Rent a Space or a Property Out
If you’re living alone and your space is big enough for you, then, maybe you can have an extra space for rent? It’s a good way to earn money without actually investing. However, do know the rules on it. Ask your landlord if you can have a roommate because the space is just too big for you.
One perfect example would be if you live in a 2-bedroom apartment and you’re living alone or with a partner/family member. You wouldn’t really be using the second room that much, so, why not have it for rent? You’ll earn money without really thinking much about it!
Create and Sell Digital Products
The age of digital products have overtaken the traditional age where people’s main sources of living are jobs. Today, a runaround of digital products is in order.
What is a digital product, you may ask? Well, in the simplest terms, a digital product is a type of product (sometimes a service) that is offered online. Online, meaning, two people don’t have to see each other personally in order to complete the transaction.
One perfect example of a digital product is an eBook. If you have an eBook and you want to sell it, you can go online and offer it to a ton of different platforms – like the Facebook Marketplace.
Other avenues you can use for selling digital products would be Shopify, Amazon, Etsy, Craigslist, and others.
Invest in Real Estate
Ah, the ever-so-famous way of “getting wealthy” is by investing in real estate. Now, many people won’t actually think of this as great advice simply because not everyone has a piece of land. But, what you can do is to actually buy off a piece of property (even a small one), pay it off in installments, and rent it out.
It sounds easier said than done, I know, but once you’re able to acquire a property and you’ve rented it out, you’ll have a sigh of relief.
Try surfing through foreclosed properties or properties being offered for 50% of their original price. What’s even better is that some owners accept installments!
Start a Dropshipping Business or an Online Store
Have you ever heard of dropshipping? Dropshipping is where you offer products through a website you built, but you don’t have to manufacture or produce products. What you’ll do is you’ll get a cheaper version of it and sell it to the market for a higher price.
A lot of people are doing it, and, in fact, many are looking forward to trying this out.
On the contrary, you can start an online store with real products that you manufacture. The only thing about this, though, is that you’ll need capital in order to make and create the products, unlike in dropshipping, you don’t have to spend a cent for the products (but in Facebook ads and shopify stores, you would).
Hostinger apparently knows about it, and here’s their guide on how you can start dropshipping.
NOTE: Before you try dropshipping, make sure you do proper research! We know people who spent thousands of dollars who got only a few hundred bucks in return due to poor research!
Monetize a Website or a Blog
This way is one of the ways that will really take time. What most people think about starting a website or a blog is that it can be successful overnight. Let me tell you, all the successful websites you see now – try and check when they first started posting content. This will take you back 8, 10 years ago – and they’re reaping the benefits just now.
However, there are a couple of strategies you can do and inject into this gig in order to be able to monetize your websites faster.
Here’s what Neil Patel, the ever-famous SEO expert and founder of Uber Suggest has to say about monetizing a blog or website that will make you more money than you can imagine.
Try “Share” Gigs
The share industry has boomed since the start of the 2010’s and it’s not coming to a slowdown. If not, the industry is growing and a lot more people are becoming more and more interested to try it out.
DoorDash is one prime example of a share gig. Applying to be a Dasher will have you deliver food to an address and, in turn, you’ll get paid for it! It’s not like a “job” where you have to be up at 8AM to be in the office at 9 – you will work at your own pace, like how you like it!
Besides DoorDash, if you have a car, you can also try Lyft, Uber, Uber Eats, or any other gig that can get you a couple of hundred bucks in a day or two!
Create a Podcast or a YouTube Channel
Now, for the most part, people want exposure. And what better way to create exposure? By creating a YouTube channel or a podcast! With 2.68 billion monthly active users, YouTube has grown from just a regular video-sharing platform, to a complete social network platform!
Podcasts or YouTube channels are typically built and nurtured over time. It’s not like you would gain tens of thousands of subscribers in a month or two!
Like websites or blogs, creating a podcast or a YouTube channel and growing it will take time. So, be patient!
Explore Entrepreneurship (Passive Income)
Last but most definitely not least among the things you can do is to dive deep in entrepreneurship. All the big names you see and hear that are atop the ladder of wealth like Jeff Bezos, Mark Zuckerberg, Elon Musk, and others were once starting entrepreneurs just like you.
What happened is, they pursued what they loved, got a bit of luck, and succeeded.
Find what you love and make money from it! That way, you wouldn’t feel like you’re working, it’s just like you’re doing something you want everyday and get paid for it.
6 Books To Help You Gain Financial Freedom
We just like to emphasize that quitting your job now will leave you incomeless tomorrow. Unless you have a side hustle that you kick off, you wouldn’t want to hand that resignation off without being prepared.
So, to help you gain the freedom you’re looking for, here are eight books you can read to help you!
I Will Teach You to Be Rich by Ramit Sethi
Learn how to automate your money, maximize your profits, and reach your financial objectives with a practical, no-nonsense approach to personal finance. Sethi’s funny and approachable writing style offers practical guidance on saving, investing, and increasing income, which will ultimately result in a wealthier life.
Rich Dad Poor Dad by Robert Kiyosaki
As Kiyosaki discusses his background with a rich and a poor father, you can get financial knowledge. Learn the difference between working for money and having money work for you, as well as the value of financial knowledge.
The Bogleheads’ Guide to Investing by Taylor Larimore, Mel Lindauer, and Michael LeBoeuf
Explore the financial ethos of the Bogleheads, a group of fervent investors motivated by Vanguard founder John C. Bogle. This book offers a clear road map to low-cost, long-term investment and emphasizes the advantages of index funds and passive investing for building wealth slowly over time.
Think and Grow Rich by Napoleon Hill
Learn about the influence of positive thinking on achieving financial success. Hill’s timeless classic offers helpful guidance on how to realize your potential and amass financial wealth, emphasizing the importance of goal-setting, perseverance, and surrounding yourself with successful people.
The Total Money Makeover by Dave Ramsey
Explore Ramsey’s step-by-step strategy for getting out of debt and accumulating money. This book gives you useful tips and doable tactics to help you make a budget, save money for unexpected expenses, and invest intelligently, ultimately leading to a life of financial independence.
The Intelligent Investor by Benjamin Graham
Learn important financial lessons directly from the founder of value investing. Graham offers advice on creating a profitable investing portfolio and navigating the ups and downs of the stock market. He emphasizes the value of rigorous study, careful analysis, and long-term thinking.
Need more help in figuring out what to do, where to go, and how you can be successful even if you don’t want to work anymore? Here are a few of the most asked questions about it!
How Do You Know When to Quit?
Quitting your job may feel weird at first, but if you no longer feel challenged, if you are continually underpaid, if you’re not enjoying, or if you think your company isn’t moving to the right direction, then maybe it’s time to quit. It’s your decision, so, think hard on it.
What Does it Mean When You Don’t Want to Work Anymore?
It could mean many things but the top things that it could symbolize would be an etch in your mental health or you are not feeling motivated or challenged anymore. Some people get bored from doing a job that they do every day, for the past decade.
Is It Normal To Not Want To Work?
I mean, who doesn’t? Yes, it’s totally normal to feel like you don’t want to go to work any longer, especially if you aren’t getting the most out of your time there any longer. We’re just humans and we crave development!
Can Quitting a Job Make Me Happy?
Yes and no – let me explain. Some people feel like they’re being extremely used at a job, but some just don’t have the right motivation. It can last a day, a week, even a month. So, yes, it can make you feel better and happier to quit a job, but no, it might not be the solution, especially if you’re doing what you like.
Take a breather every now and then!
Can Hating Your Job Cause Anxiety?
Psycom said that unhappiness in a job can greatly impact the overall mental health of people. As a result, they can have problems with their mental health, mainly anxiety, depression, and even sleep!
I don’t want to work anymore may sound obnoxious, but, that’s reality. Some people just aren’t meant for standard desk jobs! Gain the life that you want without waking up early every day to go to the office! Find your path, test it out!