Tired of your 9-5?
Check out these ways you can escape the rat race and work for yourself
[00:00] – Speaker 1
What's up guy's max here being in the rat race absolutely sucks. Been there, done that. No, no, no. Let's go over five ways that you can get out of the rat race while you're still in your 20s into your 30s and 40s. So you can live that life of freedom that you've always wanted. Five ways to get out of the rat race. Let's go. First one real estate. Let's go over the pros and cons. First pro is everyone needs a place to live no matter where you are, unless you're a homeless person, which hopefully you aren't because you're watching this video.
[00:37] – Speaker 1
Everyone needs a place to live. So the demand is definitely there. Second will be most people are going to pay their rent because they don't want their credit dinged and they don't want to be on the street. I don't know anybody who really wants to live on the street. That would suck. And then lastly, passive income is tax the least compared to all other types of income. The portfolio, the earned and then the passive. The island is when you're as an employee or a self self employed portfolio, as you're making money off your investments.
[01:05] – Speaker 1
Third, passive, that's real estate. That's money that you've already did. The investment passive is happens every single month, every quarter, every year. But it may be passive. You pay the least amount of tax. So that's why I love it, because I hate paying taxes than the cons it probably takes the most. Most amount of skill and arguably the toughest one, because you need to take a long time to do this, you don't become a real estate millionaire after your first purchase.
[01:31] – Speaker 1
It takes many, many, many different ones. So it takes a long time to actually do this. Now, that being said, it doesn't take a long time to do your first one, but it takes a long time to have be completely out of the rat race because of real estate finding a good deal. Also, depending upon how the market's going, it takes a lot of time and effort. I have to look at dozens and dozens and dozens just to find that one.
[01:51] – Speaker 1
That's going to be more than a single it's going to be at least a double and maybe hit it out of the park. But looking at all those deals takes a lot of time. But I promise you, it is worth it. Then the third con is you actually need the money liquid or be able to convince investors. So if you have a lot of money, good for you. Most people do not. But that's OK. You can convince people to use their money, buy a property, refinance.
[02:14] – Speaker 1
For the amount that you owe them, pay them off now, you own the property now, that's a really, really difficult thing to do. It takes all the really high financial real estate IQ, but it can be done. And that's where it is, if you can other people's money to finance these properties and then you end up owning them and getting the passive income, paying the least amount of tax, that is it. The next is starting a YouTube channel just like this one.
[02:36] – Speaker 1
The pros are if you're creative, creating content is really, really fun. Content curation is probably the most enjoyable part of my day, although it's not fun 100 percent of the time. Doing this and writing the scripts and getting all this prepared is actually really fun. There's something about YouTube is your reach is nearly limitless. There are literally billions of people every single day. Yes. Be billions of people watching YouTube. So you reach that. You can help others.
[03:02] – Speaker 1
Your reach, your ability to reach others and help them is really almost infinite, which is super, super exciting. And then the cons creating content and creating actually engaging, interesting content that keeps people watching is really difficult. It takes a lot of gusto. It takes a ton of time and a ton of effort. So that's a con. And the second column would be you can you might you might invest a ton of time, a ton of effort, ton of equipment and never actually recover your lost.
[03:27] – Speaker 1
But that's the same as any other business. This one is no no different. However, if you wanted to actually create business level, career level income, you're to treat it as such. It can't be a hobby. It can't be a once in a while. It has to be an everyday thing. Question of the day. Who is killing it in the YouTube game? I would say there are multiple people who are really killing it. First of all, we meet Kevin.
[03:48] – Speaker 1
He I don't know how how does he post, you know, three to six times a day? I don't know. He wakes up probably two a.m. and keeps it going. Is he a zombie? I don't know. But he came on a ton of good financial stuff and a ton of good real estate stuff. I've really, really enjoyed this contact. Then, of course, Graham Graham, just basic financial stuff, not basic good, good financial stuff, really, really breaks down things.
[04:10] – Speaker 1
So they're easy to understand. And, you know, he left California and moved out of California like me. So I can appreciate that. And then lastly, Crowder, political and just current events stuff, respectively. Five million subscribers. And I think grandma has. Oh gosh, three three point one. And then Kevin has a little bit, almost two. So these people are definitely these three fellows are definitely killing it. Some really, really good things to keep in mind.
[04:36] – Speaker 1
Thumbnails are a big deal. Obviously, all these thumbnails are really, really interesting. I always find the moment when he's crashing himself like that. That's funny. So thumbnails are really important. But, you know, they're obviously doing something right. They're creating kind of people are really excited about and, you know, want between one and a half to five million subscribers. That is a big deal. So they are definitely killing it. But who do you think coming out number three is a membership site?
[05:01] – Speaker 1
Here's a pro. You can create a community of like minded people who don't think exactly like you. But if you have the foundation on how you guys think are alike, that is how friends really vibe very, very well when their underlying values are the same and who's who doesn't enjoy communicating with friends. What's cool about the membership site is the work you put on for fifty members compared to five thousand members can be really similar. So the amount of the membership, the the amount of members does not coincide with how much work you have to put in.
[05:30] – Speaker 1
Now, that doesn't mean you can be lazy. It's going to work. It simply will not work. But between 50 and 5000, there's not a huge amount of work difference. It's kind of like a snowball going downhill. Eventually it's really small. And then the avalanche comes and the avalanche is always inevitable. So once you get the snowball and the ball rolling, the avalanche is going to happen. And that's a really good thing. Super easy math.
[05:50] – Speaker 1
If you take ten dollars a month and have five hundred people sign up, that's five thousand dollars a month. I mean, do it do multiples of that that is really encouraging now, convincing people that is a whole other story and that's one of the cons is convincing people to lay over their hard earned cash to join a community that they don't know much about or they just have been a part of. They may know a lot about it from maybe reviews you have on the Internet, but they're not really too sure about it.
[06:16] – Speaker 1
So they're definitely risking and you have to make people comfortable and accepting that risk. And then secondly, you have to keep people's attention. It's really difficult in this environment. There's so much noise. I mean, there's literally years and years of time. Put it on YouTube every single day. So keeping people's attention is really difficult. But if you can do that, those people are really loyal member for Caret merch and sell it online. The pros are of this is you will have people who are going to be your top sales people who are wearing your merch, having your sticker, having your mug, whatever it is, and they're free, you know, to pay them.
[06:49] – Speaker 1
That's what's Azmat merchandise. You put it into the world and now that's going to create even more traction for your brand. And then second one is your logo or your merchandise is in the world. So people actually see it, they can touch it, they can actually hold it compared to just seeing it on the screen. So there's something there's something about still holding something physical that we've lost a lot in this digital age. But having that physical item is really awesome.
[07:09] – Speaker 1
The consumer, you're the deal with inventory, shipping, perhaps even employees, depending upon what you're doing. And if you don't have all that, you have to hire a company to a third party and make sure that they're doing things that they should be. So there's a little bit of a business element, but that's life. Not everything's going to be super easy. A lot of these things have pros and cons. This is one of them. You have to deal with the personal aspect and the last but not least, affiliate marketing.
[07:32] – Speaker 1
I like this one the best personally because you don't want to run the business. You know, they keep checking into inventory. You don't have to make sure employees are happy. All you have to do is give them the link, your subscribers click it, your readers, your viewers click it. They buy the product and that percentage of that sale goes to you. A con here is if you do not vet the company all the way through and I mean really thoroughly.
[07:56] – Speaker 1
They may give you your customers or your your following your tribe shoddy service, you don't want to deal with a company that gives shoddy service because then it reflects upon you. If they if you have promoted the brand, the brand ends up sucking for whatever, be at the service, the product, whatever it is that reflects back on you, that gets people really furious. And the last thing you want is a bunch of people furious with you just because you thought it was a good thing or it was for that almighty dollar.
[08:22] – Speaker 1
Do not make those decisions based upon dollars. Make those decisions based upon the company you believe in, the management you like, and actually the product you like. If you don't like those three things, then definitely do not ever promote anything like that. Make sure the company is legitimate. Do not send your followers to some stupid scam company. All right. So those are the ways I know there's so many more so many more so common. Now I want to hear what other ways you can get out the rat race.
[08:45] – Speaker 1
I am exiting the rat race as we speak. I have a lot more room and a lot more ground to cover. But let's do this together and I will see you guys on to the next one.