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How to Generate Income and Make a Living Without Working 40 Hours a Week

Updated on February 11, 2012

How to Get Out of the 40 Hour Per Week Grind

Is it possible to generate enough income to live well without working and suffering through the grind of forty hours per week at a job? Absolutely, but it's not easy. If this is something you want to do, you need to be disciplined and diligent. You also need to be willing to spend time researching and learning about your options.

There are really two sides to this equation. First, there's the 'making a living' side. This involves managing and controlling your living expenses. By keeping your living expenses low, you won't need to generate as much income to support yourself. The second side of the equation is how much income you have. Within this, there are two ways to generate income. First, you can go for passive income from investments. Second, you can set up a business that will generate income without working forty hours per week.

This article will touch on both the income and expense sides of the equation to help you generate a plan to quit your forty hour per week job sooner than you might think.

CC BY via Flickr
CC BY via Flickr | Source

Managing Your Expenses

For the average person, managing living expenses is the best way to quit your forty hour per week job. Think about it...if your living expenses are low then you don't need to generate as much passive income or work as many hours to pay those expenses.

The first order of business should be to see where you stand financially right now. You can do this by pulling together cash flow and net worth statements. For more detailed information on how to do this, please read the article to the right about financial planning. The basic premise though is to determine whether or not your monthly income is greater than your monthly expenses and to determine how much money you have (your net worth) that you could put to work generating income.

If you find that you have a surplus of money at the end of the month, you should use that money to pay down any debts you have outside of your mortgage payment, if you own a home. This will obviously lower your monthly expenses because you'll no longer be obligated to make that payment every month.

At the same time, you should analyze your spending patterns to see if there are any cuts you can make to further increase your monthly surplus. The expenses where you'll see the most impact to your bottom line are the largest, which are usually your rent or mortgage, your car, and possibly food. Take a hard look at these expenditures and decide how drastically you're willing to change to meet your financial goals. Would you be willing to downsize to a smaller house or move to a less expensive apartment or rental? Would you be willing to take in a renter if you own your own home? Would you sell your current car and buy one that's less expensive? Would you switch to public transportation? Would you cook at home from scratch and eat out much less?

After examining these expenses, look at the smaller ones. There may be opportunities to save money here as well. You might have a habit that eats up a lot of cash like smoking or buying books and magazines. Or maybe you have an expensive hobby that you wouldn't miss or could replace with something less expensive. Can you cut your land phone line and just use your cell phone? Do you need cable television? Can you use the library instead of buying books? Can you quit smoking?

Now that you've taken a hard look at your expenses, have generated a surplus each month, and have paid down your debts, it's time to figure out how much your total living expenses would be after you quit your job. Your expenses will most likely go down since you'll no longer have commuting, clothing, and other work related expenses. Keep this number in mind as you now look at the income side of the equation.

Generating Passive Income

In order to generate passive income, you need to have money to invest. Now that you've cut your living expenses and debts and have a surplus of funds at the end of the month, you should be in a position to invest that extra money. In addition, you should have completed a net worth statement. If you have a positive net worth, this capital could potentially be put into income producing investments as well.

Starting with your net worth, if you have cash sitting in a savings account earning little or no interest, this is money that can be put to better use generating income. Just be sure to keep 6-12 months of living expenses (which should be really low at this point!) in that savings account for emergencies. If you have home equity that's a large part of your positive net worth, that money can be accessed if you're willing to sell your home. Depending on the amount of equity, you could be in a position to sell the house and either purchase a different, less expensive house for cash or you could sell and decide to rent a place with a small monthly outlay, using the equity to invest. Either way, you'll be putting this home equity to good use.

Now, moving on to your monthly surplus. This money should be used first to build up your 6-12 month emergency fund if you don't already have one. Then, it can be used for investments. The types of investments that generate income are bonds, including Treasuries, Municipal bonds, and corporate bonds, as well as dividend paying stocks and annuities. Each of these can be considered for your investments. In fact, I'd advocate having a little of each to reduce your risk and increase your yield.

When you purchase a bond, you're really just lending someone money. In exchange, you'll receive periodic interest payments. Treasury bonds are the safest of these since they're backed by the United States government. In addition, you can purchase them paying no commissions or fees directly from the government using Treasury Direct. For more information, see the article above. Unfortunately, Treasuries are paying historically low interest rates at the time of this writing so it will be difficult to generate a lot of income from them, although your money would be very safe.

If you're looking to make a higher rate of return, you could consider investing in Municipal or Corporate bonds. If you invest in a municipal bond in your own state, you won't pay state or federal income taxes on it. This is a big plus in that this increases your real return. See the article above for more information on how to invest in municipal bonds.

Dividend paying stocks are another option for generating passive income. This is, however, a riskier option so it should be only a portion of your total income portfolio. The reason why it's riskier is that you could lose principal if the stock price declines. However, there are many stable stocks that pay dividends in the 3-5% range. Try looking at companies like utilities or telecommunications or large blue chips. For more information, see the article above on how to set up a dividend stock portfolio that returns 7%.

Finally, annuities are another option for generating income. An annuity is an insurance instrument that pays out a set amount of money each month, usually for life, when you invest a lump sum. The amount of the payout is determined by the amount you invest, your age, and other factors. There would obviously be great comfort in knowing exactly how much income you'd be getting each month but there are drawbacks to annuities. For one, you lose access to your principal. If you needed that lump sum for any reason, you wouldn't be able to get to it. Also, you're essentially placing a bet that you'll live long enough to collect more than the amount you invest.

Generating Income With a Small Business

Let's say that you've done everything above and you've managed to produce enough passive income to cover most of your living expenses but you still have a small shortfall each month. What can you do? There are many options for small businesses that will allow you to make some money while still have free time. One of these is writing online. Another is selling on eBay. You could also start a small local services company using skills you have such as tutoring, dog walking and grooming, or consulting/freelancing in your field.

Writing online via Hubpages or your own blog is one way to make extra money. It can, however, take some time to get established. It will also take quite a bit of work but at least you won't be working the forty hour grind.

Ebay sales are another way to make money online. The easiest way to do this is to sell a limited selection of products and automate the selling process. You can do this with selling software available to eBay sellers and even by using a drop shipping arrangement.

If you have a career that you enjoy but you just don't want to work it 40 hours a week, then why not consider becoming a consultant or freelancer? There are many fields that lend themselves to this arrangement including business, healthcare, and even law.

Putting it All Together

As you can see, quitting your nine-to-five job won't be easy. As I mentioned earlier, it will take some work up front but the reward for your planning, learning, and discipline will be huge. For inspiration, read the book, Your Money or Your Life (feel free to get it at the library to save money!) or see how other people did it by reading the Millionnaire Mommy Next Door or the Early Retirement Extreme blogs. It is possible to reach your goal!


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    • swalia profile image

      Shaloo Walia 2 years ago

      very interesting and useful hub!

    • poshcoffeeco profile image

      Steve Mitchell 4 years ago from Cambridgeshire

      Very helpful and informative article. Working on quite a few of your suggestions without knowing I was. Time to start putting in the effort to go the whole nine yards to fire the boss!

    • TheKatsMeow profile image

      TheKatsMeow 4 years ago from Canada

      Wow lots of helpful tips! This is so helpful that I have to share it with my friends! Thank you!

    • Sue Bailey profile image

      Susan Bailey 4 years ago from South Yorkshire, UK

      This is exactly what I needed to know right now. I recently gave up my job - madness I know but I really couldn't stand it any longer. It was making me ill. I'm living on savings at the moment so I need this kind of advice. Voted up,useful, interesting and shared with my followers

    • carozy profile image

      carozy 4 years ago from San Francisco

      I really love this hub because living frugally and retiring early are a dream of mine. Thanks for sharing this good info.

    • Jmillis2006 profile image

      Jmillis2006 4 years ago from North Carolina

      Great hub, these tips are good advice.

    • Grinning Gremlin profile image

      Grinning Gremlin 4 years ago from Ontario, Canada

      You've got some great common sense ideas for cutting expenses, and some excellent suggestions for increasing income. Thanks for sharing.

    • ftclick profile image

      ftclick 4 years ago

      Great ideas to make some passive income. With all the search algorithms though your big online income can be wiped out overnight. Making a site on memberships and social circles can keep that income from suffering google's moody changes

    • Ebonny profile image

      Ebonny 4 years ago from UK

      Great advice and explanations on what can be a complex subject matter. Voted up. Thank you for sharing.

    • NicoleMessenger profile image

      NicoleAnn 4 years ago from Illinois

      Great Hub. Found some useful information alongside information that I already use. I strongly feel anything is possible if you put your mind and hard work applications to it. I gave you thumbs up for useful and interesting.:)

    • torrilynn profile image

      torrilynn 4 years ago

      nice hub. will definitely help me with no longer having to work so many hours. thanks.

    • KerryAnita profile image

      KerryAnita 5 years ago from Satellite Beach, Florida

      Good Hub...I am in the process of coming up with a plan to lose my 9-5. It's just no longer worth the stress. I will def incorporate many of these things into my plan...Thanks for the info!

    • profile image

      Silver Mendoza 5 years ago from Makati Philippines

      Nice article. I was new to hub pages and the reason why I'm here is to read interesting article like this as well as to write my first hub. Hopefully soon. Thanks for this one.

    • rumintasari profile image

      Ruminta Sari 5 years ago from Sleman

      interesting article. I don't work at regular job and running my own business. my problem is actually cutting my expenses and saving more.

    • Kenthenerd profile image

      Kenthenerd 5 years ago

      Wow you are so right

    • SD Dickens profile image

      SD Dickens 5 years ago

      Poshcoffeeco - Thanks for your comment! I think a lot of us are in the same boat with our day jobs which is what makes this idea so alluring!

    • poshcoffeeco profile image

      Steve Mitchell 5 years ago from Cambridgeshire

      If only I just had to work 40 hours a week it would be a dream come true. In my day job I do a minimum 60 hour week and then have to find time for writing. One day it will all be worth it. Great hub which has made me think more about passive income.

    • KDeus profile image

      Keely Deuschle 5 years ago from Florida

      Excellent article. When I had some health problems, I left a very well-paying corporate job cutting our family income in half. It's amazing what kinds of things you can find to cut back on when you need to! Thanks for sharing!

    • seigfried23 profile image

      seigfried23 5 years ago

      Great and encouraging hub. I am finding moderate success online so far, after a year of working to build up my knowledge. I feel like 2013 will be my breakthrough year with all I've learned. Thanks for taking the time!

    • SD Dickens profile image

      SD Dickens 5 years ago

      Hi lux80 - Good luck to you in your business! I agree that it requires a lot of planning to quit working full time.

    • profile image

      lux80 5 years ago


      I quit my last job 2 years ago... Really happy now but could be better! The worst that happened is that was I doing well with my own business, but I was not earning that much, so I accepted kind of a job, but not exactly a job as I can do it from home at any time. However I do have to put 40 hours a week and have very little vacations! So basically I am worst than before now :D

      The good thing is that I know that this will be temporal, so I'm saving money now from this 'job' with a plan to invest next year in setting up a small business...

      I learned that planning is a key thing when trying to do something like this. And also do not underestimate the extra income from things like tutoring or walking dogs. It may seem like a stupid idea but if you walk dogs a couple hours a week and tutor another couple hours a week, you could easily be taking home an extra $400-$500 per month. This can help you get started and also freeing time (I rather walk dogs all day than stare at a computer!)

    • alphajuno profile image

      alphajuno 5 years ago from League City, TX

      Thanks for the article - it has a lot of great info. I read Your Money or Your Life years ago and it's a great read - I might need to crack it open again. I was reading Time Out again by Bonnie Rubin. Obviously, a permanent time out from the workforce is preferable to the temporary one in the Time Out book.

    • caseymel profile image

      caseymel 5 years ago from Indiana

      Great Hub! I am a new follower. I am always trying to find a way to make some extra money while staying at home with my kids. There were a lot of great tips in your article!

    • SD Dickens profile image

      SD Dickens 5 years ago

      Hi Ingenira - Thanks for the positive comments! It's not an impossible dream. The key for most people is keeping expenses really low.

    • Ingenira profile image

      Ingenira 5 years ago

      Interesting, keep me thinking.

      I like to have a lot of money in the bank, and live by the interest earned. (keep dreaming....)

    • Missy Mac profile image

      Missy Mac 5 years ago from Illinois

      Thanks for the great article. I will definitely reference this article for future information on investing. I always wanted to invest safely. Thanks

    • SD Dickens profile image

      SD Dickens 5 years ago

      It's so hard to manage finances when you're already working full time and have other comittments but it's so important to make it a priority. Good luck!

    • monicamelendez profile image

      monicamelendez 5 years ago from Salt Lake City

      I like how you say that putting it all together won't be easy. I feel like I need to do exactly that: put it all together. I am in a decent financial position but I can do so much better.

    • wailingkoh profile image

      wailingkoh 5 years ago

      Wow, this is an awesome article :)

    • wisdom25 profile image

      Maurice Wisdom Bishop 5 years ago from San Tan Valley

      This article is worth to read. Very educational and informative. I am definitely going to try these steps and I am guilty of spending money when it comes to eating out. Much love and respect

    • JessicaSmetz profile image

      Just Ask Jess 5 years ago from Phoenix, Arizona

      Very useful and interesting! I am trying to find ways to make money without spending lots of time online being a sahm.

    • SD Dickens profile image

      SD Dickens 5 years ago

      Hi Don - I never would have thought of investing in a gold mine...thanks for sharing!

    • Don Simkovich profile image

      Don Simkovich 5 years ago from Pasadena, CA

      A friend of mine has used an investment in a gold mine to put a child through college and now it's providing him returns during a period of unemployment. He told me to look into it. I also have two property rentals. Both tenants are good but had trouble paying last year. Working at a temp agency is also a way to make extra $$$ to cover expenses and save up.

      You're right, it does take discipline.

    • SD Dickens profile image

      SD Dickens 5 years ago

      Hi Jasmith1,

      Thanks for the postitive feedback and good luck to you and your husband!

      SD Dickens

    • jasmith1 profile image

      Adrian Smith 5 years ago from UK

      As others have said, you have a way of sharing this information in a very engaging way. This is very much what myself and my husband are doing, except investments - its good to learn more about that side of things as another avenue to explore. Voted up and useful.

    • AliceFSpencer profile image

      AliceFSpencer 5 years ago from Texas

      Great hub really looking at lowering our living expenses voted up!

    • Bonitaanna profile image

      Bonitaanna 5 years ago from Oil City, PA

      My advice for people who think that having rentals is a piece of cake and always great income. NOT so true. I just lost a rental in a quick sale and because I had two rentals and the other one had two partys in a row that would not pay the rent or take care of the place. I had to have them evicted and that cost me, I cleaned the up and that cost me, a lot of time and energy. The people that lived in them now walked out oweing us $10,000 and yes I had a property manager. It does not always work out like people say it should. Especially people who have never been a landlord! Yes, and we did a search on their background and their credit. Oh yes, another thing, I have realized that the Law is more on the renters side than the Landlords and that needs to be changed. People seem to legally live in the house without paying the rent at least 3-6 months before you can get them out of there and you have to pay the court and sheriff to serve them. Another thing that comes out of the Landlords pocket. Then if they owe you, you have to pay out of your pocket to take them to court. Then when there is a judgement, and they refuse to pay it, they can get away with not paying! We know it has happened to us. A few years ago we bought a nice house in the country, the septic tank had to be replaced as it was leaking a dye from the test that was run on it when they did their inspection. We went to court to make the peole pay for it that sold it to us that way. The judge ruled in our behalf that they pay us the money for a new septic. The man to this day has never paid a cent! So much for paying to go to court!

    • priyanka1989 profile image

      priyanka1989 5 years ago

      Awesome hub.informations & methods provided by u is really very beneficial & effective.Voted u up.thanks

    • Claudia Tello profile image

      Claudia Tello 5 years ago from Mexico

      I studied biochemistry but decided I didn´t wanted to be locked up in a lab all day long, the problem is that I find it really hard to make a living out of it now that I am not working full time in something related to it. Still, I am thinking of writing about interesting science related articles that could help in my hubbing career.

    • Lisas-thoughts101 profile image

      Lisas-thoughts101 5 years ago from Northeast Texas

      SD, There were some very good ideas in here on generating passive income. I liked the idea on starting a small service business. Also, the cuts in spending were inspired. Thanks for being so thorougn. Solid information.


    • am301986 profile image

      am301986 5 years ago from New Delhi

      Great tips. Thanks for sharing. cheers!

    • gregoriom profile image

      Deninson Mota 5 years ago from East Elmhurst, NY

      Great piece of information. Glad you've shared this with us.

      Thanks ;)

    • SD Dickens profile image

      SD Dickens 5 years ago

      I do think that cutting expenses is the most difficult part. Thanks for commenting Deeach!

    • SD Dickens profile image

      SD Dickens 5 years ago

      Hi Talullah - Thanks for reading and for your comments!

    • SD Dickens profile image

      SD Dickens 5 years ago

      Thanks for the positive comments Vellur!

    • SD Dickens profile image

      SD Dickens 5 years ago

      Hi Bankscottage - I'm also viewing retirement planning this way. In the past I was only concerned with my savings but now I realize I'll need to save a lot less if I cut my expenses way back. Thanks for reading!

    • Talullah profile image

      Talullah 5 years ago from SW France

      A great hub that should be essential reading for everyone! Have voted up!

    • profile image

      deeach 5 years ago

      Interesting hub, thank you very much. I usually do lesser shopping as much as possible and try to save but still I need to work on cutting my expenses.

    • Vellur profile image

      Nithya Venkat 5 years ago from Dubai

      Very useful and interesting, the best of all very motivating. Great hub, voted up.

    • bankscottage profile image

      bankscottage 5 years ago from Pennsylvania

      A lot of great advice. Most people are concerned about how and how much money can I make. You started correctly dealing with expenses (getting them down) and having a reserve fund. Those 2 issues are the hardest to get control of.

      After you have control of expenses and a reserve fund you can think about income streams. Unlike a job where you have 1 paycheck, the income may come a little here and a little there.

      This is exactly how I am starting to view planning for retirement.

      Thanks again for the great hub.

    • Rusticliving profile image

      Elizabeth Rayen 5 years ago from California

      Thank you for such an insightful and informative hub. I have both an online store as well as my ebay store and have done quite well. Although I do not have a 9-5 job, I work 8 hours every day maintaining my store as well as the ebaying. I'm working on my writing as well now and loving it. However, it is essential to keep my finances in check so I can eventually do a little investing soon. Thanks for the motivation SD! Voted up and shared :)

    • lemmyC profile image

      Ben 5 years ago from UK

      Great insight! Thanks

    • profile image

      cdngryphon 5 years ago

      A nice all-around article, gets a well-deserved Up vote.

    • chivs86 profile image

      chivs86 5 years ago from Baldock/ Letchworth, Hertfordshire. UK

      I've pretty much been thinking along the lines of what this hub is about except I don't have a job to quit. I have my business idea, but the thing I think I will take from this hub is some of your investment ideas.

    • SD Dickens profile image

      SD Dickens 5 years ago

      Congratulation creativelycc on your transition to working at home! Thanks for reading and for the kind comments.

    • creativelycc profile image

      Carrie L. Cronkite 5 years ago from Maine

      Superb hub! I'm presently in the process of transitioning from my 40 hour a week job to working independently from home. It does take a while, but it is all worth it. I'm always evaluating our expenses to see where we can cut cost to generate more income at the end of the month. Writing online is a wonderful way to generate a passive income. This too takes a lot of work, time and patience. But like you said, it is possible by being disciplined and diligent. Thank you!

    • viewfinders profile image

      viewfinders 5 years ago from God's own country(kerala)

      great hub,its very useful to a starter

    • FirstStepsFitness profile image

      FirstStepsFitness 5 years ago

      Excellent hub , Lots of ideas , practical too !

    • Mother Nurture profile image

      Angie G 5 years ago from HubPages America - Southern California

      Nice hub. Your plan is simple and follows the right steps to getting out of the normal J.O.B.. We all need to work on this plan anyway because during our retirement years we need to be prepared with a steady flow of income. It may come from building up residual income or from living off stock dividends. Any way you look at it, this plan is for everyone. Thanks for sharing.

    • CyberTech15 profile image

      CyberTech15 5 years ago from Michigan

      Hey.. Modern Lady.. heck I work so much on 7 Domains, HubPages and alike I have a full time job, and I never leave the house. Well I do but you know what I mean. I can no longer work, the SSD is OK, but more is always better!! here I come... work work! LOL and loving it!

    • Modern Lady profile image

      Modern Lady 5 years ago from Chicago, IL

      This has got me thinking. We all dream about not having a full-time job, but making it a reality is difficult. Thanks for all the great ideas that can make it possible!

    • SD Dickens profile image

      SD Dickens 5 years ago

      Alisamc - Thanks for reading and for the positive feedback!

    • SD Dickens profile image

      SD Dickens 5 years ago

      That's awesome Victoria! I love to hear stories from people who are making it work.

    • alisamc profile image

      alisamc 5 years ago

      Very well done! Practical and realistic approaches I may say. Voted up!

    • Victoria Lynn profile image

      Victoria Lynn 5 years ago from Arkansas, USA

      Great article. I recently lost my 9 to 5 stressful job and am working part-time, mostly from home. I love it! I have also lived frugally and plan to do anything I can to continue as I am! Thanks for the inspiration.

    • profile image

      usedbuckettrucks 5 years ago

      interesting thoughts. As an entrepreneur myself, I like to go back every now and then and rehash some of this stuff just to stay motivated. Thanks for the awesome write up!

    • anusujith profile image

      Anoop Aravind A 5 years ago from Nilambur, Kerala, India

      good hub.I am an avrg person, so trying to manage my living expense.and also writing hubs.

    • dagny roth profile image

      dagny roth 5 years ago from Neverland

      Really good advice. Voted up!

    • hubcloud profile image

      hubcloud 5 years ago from India

      Well written article. Hoping to make passive income here at hubpages. Thanks for this hub. Very motivating.

    • Singaporean profile image

      Singaporean 5 years ago from Singapore

      Thanks for sharing! Very inspiring!!

    • tnjman profile image

      tnjman 5 years ago from Nashville, Tennessee

      Some good tips here. Solid grounding and all the great tips that are necessary to move ahead. Wonderful writing!

      Please follow me when you get a chance - I have yet to publish as much as I would like, but check out my Live RobinCam - mother Robin & eggs:

    • Pinkchic18 profile image

      Sarah Carlsley 5 years ago from Minnesota

      Great ideas here. I'm sure many people make a lot off their hubpages and squidoo accounts. I'm not one of them ;) but it's sure fun to write anyway. Loved your post here. Thanks for sharing!

    • supermom_in_ny profile image

      supermom_in_ny 5 years ago from NY

      This is an excellent post. I have a debt reduction blog where I share similar content.

      I also wanted to share about creating passive income using free sites like HubPages or even free blogs. It is a great way to start creating an source for passive income without a cost using your spare time. I taught myself how to do it, so I know anyone can achieve it.

      Now, leaving to read your next hub.


    • emilybee profile image

      emilybee 5 years ago

      Great hub and very motivating too! Generating income online is a great way to make money doing something you enjoy and while being creative too, especially in this economy, many people don't even have full time jobs. Voted up.

    • CyberTech15 profile image

      CyberTech15 5 years ago from Michigan

      I did my very first HUB today! 04/10/2012 And many to come.

      You are 100% right, you must first get your expenses where you can manage them!

      I started working on the "Make Money Online" and taking in some money with it is nice. It does work, if YOU put time and effort into it. "They" say you can make thousands of dollars in a week, well I am not doing that. I make a few hundred a MONTH. I look at as a side job, and not just for fun. I have 6 web sites online and working on #7 now. After you learn a few tricks, you can have a site up and running in just a few hours.

      I am not good looking but I do have funny facial expressions!

      Later Dave

    • alifeofdesign profile image

      Graham Gifford 5 years ago from New Hamphire

      Generating additional income is smart. Your suggestions were helpful. I'm planning my goals for the next 4-6 years and have decided to build a variety of income producing plans to help when I am ready to retire. I haven't yet begun selling on eBay, but I have had that on my list, as well. Work smarter-not harder...that's my goal.

    • htodd profile image

      htodd 5 years ago from United States

      Generating passive income is not an easy and once you do it ,you are on the top of world and do what you willing to do

    • profile image

      peace13 5 years ago

      This is a kind of article which attracts attention of any kind of person searching some funny stuff also.

    • SD Dickens profile image

      SD Dickens 5 years ago

      Hi Ladeda - Thanks for reading! I wish you luck in your goals and am happy that I was able to give you new motivation.

    • ladeda profile image

      ladeda 5 years ago

      Thank you for sharing this Hub. You've made me reconsider what I'm doing with my savings, and added to my motivation to one day work part time and spend that other time making money by doing something I really love.

    • SD Dickens profile image

      SD Dickens 5 years ago

      Hi RetailRich - I guess that's why most of us are still working :) It can be done though...

    • RetailRich profile image

      RetailRich 5 years ago

      Good article. But as already said, it takes more time, more commitment and more discipline to do to this type of goal than most people are willing to do. You did make me think about a few things i've ignored though.

    • cmshelplive profile image

      cmshelplive 5 years ago

      I like reading articles like yours. You have covered most of what I have though about when considering making a passive income online.

      A lot of people will push you to make a living online without having the backup of making yourself viable to other people who may hire you. I personally use web design as my freelance income stream.

      Very well done!

    • delaxshi profile image

      delaxshi 5 years ago from Toronto

      Great hub with great advice for those who don't want to work 40 hours a week. I have recently been considering starting my own business, and some of the information presented in this hub is very useful advice indeed.

    • Conservative Lady profile image

      Sheila 5 years ago from Surprise Arizona - formerly resided in Washington State

      Very thought provoking hub. I have been considering starting my own business soon. Your hub reinvigorated that drive. Very informative and interesting.

    • SD Dickens profile image

      SD Dickens 5 years ago

      So true AboutInvesting! I used to be the same way until I realized how difficult it is to predict which stocks will grow. Then I started focusing on replacing my wages with investment income and reducing expenses. When the two meet, I'll be able to retire. It really changed my mind set.

    • SD Dickens profile image

      SD Dickens 5 years ago

      Hi PegCole17 - I love hearing stories like yours. Planning ahead can really make a difference! Congrats on your early retirement.

    • SD Dickens profile image

      SD Dickens 5 years ago

      I agree Vegas Elias - thanks for reading!

    • AboutInvesting profile image

      AboutInvesting 5 years ago from United States

      I love the focus on investing for income! There are so many people who get growth tunnel vision and don't even consider other options. Great article!

    • PegCole17 profile image

      Peg Cole 5 years ago from Dallas, Texas

      These are great ideas for reducing expenses. It is amazing how much can be saved in net income by reducing overhead. We took out a 15 year mortgage (23 years ago) and paying that small bit extra in the payment took 15 years off our debt. I was able to retire early from a stressful corporate job. It also saved us from going under when he was laid off and out of work for 2 years.

    • Vegas Elias profile image

      Vegas Elias 5 years ago from Mumbai

      Hi Dickens,

      Very useful advice indeed; But one has to be very serious about doing this then only he would succeed. In fact one has to be very serious about any aim in life in order to succeed. Well written.

    • SD Dickens profile image

      SD Dickens 5 years ago

      Thanks Johnny - Glad to appeal to the right portion of your cranium! Good luck with the stock buying and sailing!

    • Johnnyd44 profile image

      Johnnyd44 5 years ago from Florida

      SD Dickens,

      Wow! Great infor. I love how you explain money issues without reading like a dry, financial book. I would rather practice bleeding that deal with numbers--- just not the side of my brain that works so well. Your writing appealed to the portion of my cranium made for simplistic input. I am new to hubpages and am so looking forward to reading more of your work.

      When I make it big buying stocks with dividends and sailing to an exotic island, I will credit your writing. (Of course, I probably won't send you money... though I might!)

      All the best,


    • The Marker profile image

      The Marker 5 years ago

      It has been my goal to have my own business and quit a 40 hour job. I just needed some information on how to get started. Now I have stumbled on this hub of yours, read it from the beginning 'till end, it really helped me and answer some of my questions. I think all I have to do now is take action.

      Thanks a lot!

    • Seafood Gumbo profile image

      Seafood Gumbo 5 years ago from Laurel, MS

      This article is great food for thought. Do I have the patience and discipline to do it? Time will tell.

      Seafood Gumbo

    • greatstuff profile image

      Mazlan 5 years ago from Malaysia

      What is tough is to be discipline with our expenses. Without this, we may have less to invest and hence may not realise any additional income.

    • SD Dickens profile image

      SD Dickens 5 years ago

      Hi Mikeydcarroll - Agree...this is not a get rich quick scheme. Building wealth and passive income takes time and patience.

    • profile image

      mikeydcarroll67 5 years ago

      It definitely takes a little while for these things to get comfortably built up to a good and livable wage that can keep up with some of the rising costs.

    • Zubair Ahmed profile image

      Zubair Ahmed 5 years ago

      A very interesting hub, very useful information. Thank you for sharing.

    • cloverleaffarm profile image

      Healing Herbalist 5 years ago from The Hamlet of Effingham

      Interesting hub. We cut our expenses down to what we could, and have tried to live self sufficiently for a couple years. Both myself,and my husband are self employed, and we work when we want to. Thanks for all the great info.