Because I set out to make $100,000 income per year as a goal while in college, I set out to work in an industry which would allowed me to make such an income. Industries such as engineering, consulting, finance, legal, high tech, and medical are such industries. (I originally planned on being a pharmacist.) The problem is going through the process and survive long enough to enjoy the financial rewards. Not to mention that I hated school. And I really hated working for someone else. Having a boss or superior over me? FORGET IT! It's just not my cup of tea.
Too many people give up before their income gets really good because they just can't handle the long working hours, pressure, stress, or drama anymore. I totally get it as not everyone is cut out to work 50-90 hours a week, and keeping up with other responsibilities in their lives. Eventually, we will all burn out. It's not a question of if, but a question of when. I'm just surprised at how quickly some of the younger guns out there burn out so quickly now-a-days.
As I approach the 30's of life, I am no longer naive about the world and working long hours. $200,000-$250,000 is my ideal Passive Income for maximum happiness, but at what cost? If I am going to have to spend more than 50 hours a week to make $200,000, that's not impressive one bit. That's almost one-third of our weekly living hours devoted to working. If I could spend just 20 hours a week or 4 hours a day making $200,000, then I believe that's pretty darn amazing. BTW. making more doesn't generate more happiness for me. Maybe it might for you. But I tasted up to $500k income per year, and I can tell you there's no difference past $200k-$250k.
IDEAL AMOUNT OF WORK HOURS PER DAY
My IDEAL amount of work per day to make $200,000-$250,000 in Passive Income a day is roughly four hours. I like to get up around 8-9AM, and work from 8AM to 12PM or 9AM to 1PM non-stop. I find that I can maintain maximum focus and creativity for up to four hours, by which it starts to fade the longer I work after that. My concentration waivers, and I start to think of other things, or want to go outside to chill.
Afterward, I enjoy hanging out for 30 mins before I go and hit the gym to relieve stress. Shortly after, that's when I finally break my fast and have my first meal of the day. (I love intermittent fasting and it works with my schedule.) I might sprinkle some afternoon errands and by the time 6PM roles around, it's date night and time to relax.
There will often be times when I have to get back on my phone, computer, or do in-person meetings during the day or night. However, I don't plan on spending more than 45 minutes working after dinner anymore because I rather spend it with my loved ones or friends instead.
I encourage everyone to get a sense of their optimal work hours and work extremely hard to get there. I know if I don't work, I would feel highly unproductive with my life. I tried to retire by 30 and it didn't work out. (That's for another future post!) Meanwhile, each hour after four hours of work gets less and less enjoyable to me and I really start hating work after the 10th hour mark!
Perservering and Consistency Wins the Race
Making $200,000-$250,000 a year through passive income and only working 20 hours a week is no easy feat! It typically involves multiple income streams from different assets or business ventures. Although the task may be difficult, if anyone gives themselves a long enough runway, I truly believe anyone can make it happen. It's highly possible to make $100,000 a year completely passive within 5-10 years. $200,000-$250,000 passive income is not much harder to achieve after that.
Keep in mind, this is passive income where technically you don't have to put any working hours in to get the income. There's no such thing as passive income where you put 0 hours a week. But passive income typically only needs about 4-20 hours a week to maintain, and grow, once you achieve your passive income goal.
Let me ask you: What's your ideal passive income goal and work hours a day goal?!