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

September 24, 2024

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

With a lifestyle business, you can. 

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

A LOT can happen in 10 years ⌛️

A. LOT.

Here’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. 

You’ll take $80k a year for the rest of your life without depleting the balance. 

Listen On: Apple Podcasts | Spotify

Here’s your road map for retiring in 10 years, if you start today 🗺️:

Invest in Skills Leveraging around your Expertise

The first step is all about investing in yourself, especially in becoming a course creator and honing your expertise. 

For example, if you’re a dietitian, you want to develop your own methods that really work. Or if you’re a real estate agent, think about how you can help others double their appraisals. 

The key here is to build your unique approach and show that you can get results. Trust me, this solid foundation is essential because without it, making the cash flow you need for your future plans will be tough. So, take your time to learn and grow!

Develop your Course Creation Skills and Sell your Courses

Once you’ve got your expertise down, it’s time to dive into the world of course creation! 

Aim for that sweet spot of $360,000 a year by selling 360 courses at $1,000 each. Keep things simple—focus on one main offer and one sales funnel, like a webinar funnel.

If you’re a dog trainer, for instance, create a program that teaches people how to stop their dogs from barking in just 30 days. This streamlined approach will make it way easier to hit your goals without getting bogged down by too many offerings.

Grow your Assets Value over Time through Compounding

Now, as your business starts bringing in cash, it’s time to get savvy with your money. 

Split your revenue into three parts: 

  • ⅓ for your salary (about $120,000)
  • Another ⅓ for expenses and taxes
  • And finally, ⅓ for investments

This is where you can put your money into things that grow over time, like stocks or real estate. 

If you invest that $120,000 each year and get a nice 10% return, you could end up with over $2 million in ten years!

How cool is that? This strategy will help you build a nest egg for the future.

Create Work Optionality

Once your investments are thriving, you’ll reach a point where work becomes optional. 

Using the 4% rule, you can withdraw around $80,000 a year from your savings without running out of money. 

This is the moment when you can think about early retirement or just enjoy more freedom in your life. Take some time to really consider what you want to do with your days—once that work pressure is lifted, it’s a great opportunity for self-reflection!

Align Work with Passion

The ultimate goal is to create a lifestyle business that you genuinely love. 

If you find that you enjoy what you do about 70% of the time, you’re in a great place! Ideally, even if you didn’t have to work, you’d still want to do it because it brings you joy. 

For example, if you’ve created a course that helps others, you might feel so fulfilled that you’d want to keep at it. That sweet spot where your work aligns with your passions is what makes life truly rich and rewarding.

So, there you have it! By following these five steps and keeping things friendly and fun, you can make work optional and build a fulfilling life along the way!

Honestly, getting this message out is my passion because I believe in looking at the bigger picture. 

We’re not chasing quick wins; we’re building something meaningful over ten years. 

Just imagine living a life where work is optional, yet you’d still want to do what you love. Isn’t that the ultimate luxury? 

Keep Listening!

Listen On: Apple Podcasts | Spotify

Design a Simple Lifestyle Business With High Profits, Working 5-Hour Days & a Lean Team 

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