How I Made $40k in a Month
Passive income – the holy grail of the FIRE pursuit.
In this post, I’ll share how I increased my net-worth by approximately $40k in a single month.
But first, why are you here?
Most probably because you find the idea of earning 5 digits in a month (without exchanging your time for it) somewhat exciting.
On the other side though, if your salary is still the largest contributor to your monthly wealth accumulation, you may still think that it isn’t possible or that you’ll need decades to achieve these levels.
That’s not true.
Let me tell you what can be true though…
I’d assume that you’ve searched for ways to earn passive income before and went through various articles covering topics such as affiliate marketing, SEO, day trading, digital tutoring, drop-shipping, “selling stuff online”, or a simplified generalization of any other otherwise complex concept. Although each of those can be quite profitable when done right and in the right environment, I’d immediately fail to see the “passiveness” of it.
That’s not the problem though. Extra income is always welcome, even if you need to put a few hours in.
The worst part is that these posts are usually so oversimplified and written in hindsight, so that the reader can’t really apply the same principles to his own life. The market may be over-saturated already, there may be some skill and knowledge discrepancy (for sure actually), and the road to substituting your salary with side-and-not-passive-income is not as frictionless as it may seem in a 500 word post with an affiliate link at the end.
And if it sounds that I’m critiquing the authors – I’m not. I’m actually pointing out the worst part about reading those articles for you, the reader. If you’re getting your hopes up and trying to blindly replicate other peoples’ alleged success, you’re most probably headed towards disappointment. Or at least towards not-excitement. And the key element that’s missing is that you’re not them. You don’t posses their starting skills, knowledge, opportunities, market conditions, availability of time and other material resources. In other words: you need your own path towards accumulating wealth, because blind following can only get you so far.
So, what’s the key takeaway then? This:
You need to leverage your own skills and knowledge.
Did you find it too abstract or lacking actionable items? That’s the reality though – it’s the only path to wealth that will create and won’t cost you time and money in the long run.
To put it in a relatable way: If you don’t start going deeper than scratching the surface today, in 5 years, you’ll be searching for a variation of the keywords “made 40k month” and end up with the same answers – other peoples’ success stories, oversimplified.
Please note: this is not intended to be a motivational post. You won’t hear me saying stuff like “believe in yourself” or “do what you love“. Actually, continue living as you are, without major changes, but allocate some time daily into expressing yourself, learning on a deeper level, or building something of your own.
Not with monetization in mind.
Just start.
If you’ve wanted to improve in a certain field – define an actionable plan today. In my case, referenced in the click-baity-but-real title, it was investing – I planted the tree a few years ago and starting to enjoy the shade slowly.
But when I was initially learning about the asset classes I invest in, I didn’t go with the mindset of copying someone’s journey. I went with the mindset of “I have a problem – my emergency fund is quite large… And if I don’t do anything with my savings, then inflation will eat them away over the years.“. I started getting financially literate, learned about various investment vehicles, and allocated my funds in each according to my risk tolerance and expectations. As my knowledge increased, I became more comfortable with the risk I’m bearing and eventually started teaching others how to approach their investment journey.
But I still didn’t answer how did I do it.
Actually, I did.
Only those who fall for the “give me the exact steps to follow to replicate your success” trap will fail to see that I answered the question.
I mean, even if I share exactly which investments and projects lead to my monthly gains, it wouldn’t be enough – there will be an enormous knowledge/experience gap to be filled. Remember, no single post will give you a fully detailed strategy or hold your hand into “getting rich“. You are the only human responsible of taking action today, so you can enjoy the benefits of it in the future.
So instead of disregarding it as “he got lucky” because of lack of specificity, maybe consider learning about investing. And if you agree, I’d recommend starting with The Ultimate Guide to Long-Term Investing for Absolute Beginners. I guarantee you, the lessons you’ll learn here will make you a better decision maker in general, not just as an investor.
Until then, focus on taking action with whatever you have now… If you’re knowledgeable in finance – share tips for students on Twitter. If you’re a lifter – document your progress on Instagram. If you like painting – socialize in the community. If you do your own taxes – help others filing their tax returns. If you’re proficient in a certain technology – broadcast your advice to newbies.
Give value while expecting nothing in return.
At least not immediately.
Nothing of this is passive though. But the opportunities any activity would present down the road can be. It’s a bit early to mention, but if you’re already doing something actively for a few years, even not professionally, the only thing that can stop you from monetizing it is feeling guilt in capitalizing on your success and adopting some weird principles because of imposter syndrome. Heck, I can’t think of any field I was into for more than 2 years, even casually, in which I haven’t achieved at least above average levels.
And eventually, you’ll notice the segment of the audience that asks the questions you can answer – and you need to recognize that as a gap in the market you can fill. There are people similar to you. There are people seeking the answers you once sought. I don’t think that anyone is so unique that 0 other people have interest in what he has to say.
But I’m digressing…
So… How did I make $40k this month?
By leveraging my own skills and knowledge. Leveraging all the experience I’ve accumulated over the years in various ways.
And any detail I’d share about the specifics is redundant and unnecessary. Those that feel that the information is insufficient, probably missed the point.
Don’t be them… Take action today – in the name of your 5-year-older self.
Enjoy! 📈
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