Lifestyle Business School podcast

šŸ‘µHow to Retire Early in 10 Years on $80k Forever (Yes, Really)

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Want to retire early in 10 years, and live on $80k forever?

With a lifestyle business, you can.

Ā [Read the full blog post here].

People want a quick win, and the industry sells the pipedream of a gazillion dollars in two seconds.. but if youā€™re willing to develop the skill of being a course creator?

A LOT can happen in 10 years āŒ›ļø

A. LOT.

Hereā€™s the cliff notes:

Invest $10k a month from the profits of your high cashflow online course business for 10 years (instead of spending it on Gucci bags, a big team or lifestyle creep).

At year ten, you can retire with $2m in the bank.

Youā€™ll take $80k a year for the rest of your life without depleting the balance.

Hereā€™s your road map for retiring in 10 years, if you start today šŸ—ŗļø:

1ļøāƒ£ Commit to developing the skill of being a course creator. Create one flagship course.

2ļøāƒ£ Develop your skills to sell 300 a year at $1000 each. Thatā€™s $200 - $300k. Spend one third of that on expenses/tax, a third on your salary and set a third aside ($120k a year).

3ļøāƒ£ Invest the one third you set aside into assets (eg stocks, property). In ten years assuming a 10% average annual return, youā€™ll have over $2million.

4ļøāƒ£ At this point, youā€™ll have the option to retire early. Spend 4% a year each year after that forever and youā€™ll have $80,000 in annual income without depleting the balance (Google the 4% rule).

5ļøāƒ£ But if you do it right? Youā€™ll probably still be loving what you do so much you donā€™t even WANT to stop anyway.

This, my friends, is what it means to build a lifestyle business.

Want more?

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