A Baby Step Towards Becoming a Millionaire

https://www.youtube.com/watch?v=bjwGqXbHMBQ There are some steps I'm taking on my journey to grow my income and become a millionaire. Today I want to talk about a baby step I took recently on my journey towards $1 million per year. 0:00 - Introduction1:40 - Understanding a bit about my business4:15 - My baby step is: Paying people to write articles7:00 - Investing in assets that generate income8:40 - A big realization that the work I'm doing is only worth $45k/year10:50 - A shift in mindset13:55 - Do I even want to get there? Or do I want to focus on lifestyle? Recommended Videos: Exploring Financial Freedom (Financial Freedom Doesn't Make You Happy) Can I Go From $100,000/year to $1 million/year? A Rant My Financial Gameplan (2020) The Unsexy Side To Achieving Financial Freedom Transcription: hey all you amazing people i'm ryan and today's episode is going to be a personal chat about some steps that i'm taking on my journey to grow my income and become a millionaire basically which kind of sounds ridiculous to say but the other day i had the realization that i could go so far with my current mindset and earn a decent amount of money with my current mindset working by myself writing articles and doing stuff like that but i had this realization the other day that earning ridiculous money what feels like ridiculous to me we're talking a million dollars per year someone earns that someone does it so it must be possible so previously that was completely outside my realm of possibility didn't even think about it i wouldn't even imagine it wouldn't even dream a life like that because it just i don't know why but i just believe like that's that's not for you that's not possible that's not the life you're going to live and i was on the beach with my partner crystal and looking at these waterfront houses and thinking someone earns that money and i had this realization the only person stopping you from achieving that is yourself and your own belief systems so i did a full episode kind of working through that together together all by myself but on camera so you can follow on the journey i'll link up to that down below and today i want to share with you some steps that i'm actually taking towards that now this is a baby step i haven't taken huge massive steps or made massive investments or anything like that but this is what i think is kind of a monumental baby step along the way if that's even a thing so to understand you first need to understand a little bit about my business and i run an online content business so i write articles i make podcasts i do videos like this one but i have a bunch of different channels and websites so i got on property but then i got a bunch of others in other niches as well so i write the articles or make the videos and then over time they generate passive income so you write an article once it'll generate traffic to your website and advertising revenue you know perpetually for you know kind of three to five years sort of thing until it tends to taper off i've got some articles that are still going strong ten years later and doing well but you know a lot of them tend to last a couple years and then taper off so i was looking at my business and what i can achieve i've always done everything by myself write all the articles format editing making the videos all by myself and i was looking i guess at the three year time span which is how far i can look and i thought okay given the work that i'm doing if i keep doing this for the next three years if i get the results that i think i'm going to get probably looking at a pretty decent income you're talking mid six figures sort of range somewhere between you know 100 000 uh if things don't go well to 500 000 if things go exceptionally well and everything goes to plan which let's face it it never does but kind of in that sort of range which is amazing money don't get me wrong like that is incredible i'm incredibly humbled and grateful that i have the skills that i'm able to do that and the patience and the dedication to put in the work to make it happen because it it has been hard and you can see in some of my videos i'll link up to my game plan down below where i talk about how i basically worked an entire year full time for nothing in order to build up this business or my video on the unsexy side of financial freedom i'll link up to those down below you can see some of the tough times but i'm extremely grateful for that and that's great and there's nothing wrong with that i could very happily have a great life like that i'm also very happy in and of myself and that i don't need a million dollars in order to be happy i used to pursue financial freedom think he would make me happy i achieved pseudo financial freedoms for my business i wasn't happy i kind of found what made me happy or you know i'm working on that every day and i'm pretty happy at the moment even without great income so the goal isn't to earn more money to be happier it's just like i love the challenge and i love the progress so this monumental shift and what is the baby step i've been talking for minutes now without even sharing it the baby said is this i've always written and done everything myself and my baby set was i actually paid people to write articles for me so it sounds huge no it's not huge i invested you know maybe a hundred dollars into getting two to three articles written and that was it that was my step i did some research into different businesses that can create content for you so they have writers or contractors and you pay a set fee for an article so in this case i think i was paying 30 u.s for an article so you're looking at around 40 45 australian dollars in order to get a 1 000 word article written now to me that seems ridiculous like i could easily write those thousand word articles probably in an hour maybe two hours and i just thought oh like for what i'm getting and what i'm paying just doesn't seem worth it and so it was so hard to kind of step over that barrier and to be like okay i'm actually shifting things now from just doing everything myself and i'm now investing money in order to hopefully see a return and i'm starting really small because i've made massive mistakes in the past where i've invested my entire life savings into things i've done it a couple of times and lost a lot of money so this time around i'm like okay i don't need the money from these articles this is not a get rich quick scheme this is me taking baby steps to learn okay how do i outsource content how do i get writers how much is it worth paying do i need to actually hire writers myself but this is these content places you don't have to hire anyone you just pay them the money and you get an article back so it's a real baby step probably overpaying for what i could be getting but it's a step in the right direction and i did the numbers on my business and looked at okay how long does it take an article generally to earn around 30 us dollars and it varies depending on the article but somewhere in that 9 to 12 month range for an article to earn its income back or to earn 30 back so theoretically if this goes to plan then if i invest the money within one year i should have that money back and i'd have the article that that person's written now those figures are based on my articles i know how to write really well so maybe it'll take longer than that maybe these articles will perform really well and it'll be shorter than that but i really like this idea of okay i'm spending this tiny chunk of money to invest in an asset and for me it's an asset within my business so it's an article and ideally that article at some point is going to pay for itself so i invest the 30 dollars ideally within 9 to 12 months i'll get that 30 dollars back so within a year that article effectively just becomes a free asset or something that you know i have no money invested into it's just kind of there and hopefully that would then go on to earn another 30 or 60 dollars per year for the next three to five years and so you can start to see that okay within a year you're getting your money back or you're getting 100 return on investment and then you've still got the asset and so this is what's really cool about this and really cool about this step is that i can only write so much i can write about 10 articles a week consistently if i want to do that and so i can do that i'm going to continue to do that anyway but that limits me to how many articles that i can write whereas if i have extra money which i do and i invest that money into other people writing then the return on that investment could be great could be better than property could be better than shares a lot faster maybe it won't last for as long it's obviously tied to more risks with the business and things like that but that's feasibly a way to grow my business a lot faster so if i let's say i write 10 articles per week and let's say i pay for 10 articles per week as well that's 300 u.s per week or about 15 000 usd per year that i'm investing into other people writing does that mean okay i write articles probably twice as long as this but so even fifteen thousand if i did the longer articles thirty thousand dollars u.