The $0-$10K/Day Case Study: Day 149

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Day 149

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It was a really interesting day yesterday.

There are always two conflicting force when it  comes to spending money:

  1. Spending money on items for personal consumption, like a car or house.
  2. Spending money on assets that generate income, like an investment property, a business, or more

I’d like to think I’m extremely diligent and that I spend most of my money on #2. We have a fairly aggressive financial mode we use in our family and it assumes putting most of our money into these asset creation devices that would enable more income and earlier retirement.

I need both to retire at 30 making $10K a day.

However, yesterday was a real shot in the arm on that.

My fiancee and I were scrolling Zillow for fun and saw a house. Not just any house, but the perfect house. The exact perfect location for us, down to the block. The exact right size, design, and care. Brand new roof. The exact house we would have planned to buy in a year or two. With the baby only a few weeks ago, we’re extra emotional as well in our decision making about things like this.

We’re not going to buy it yet. We can’t afford it. The house also had a dozen showings yesterday so it’ll be gone by the time this article is live on the internet.

But, what this does mean is that we are more emotionally driven on this than we expected. It might not be this house, but we will put money down to buy a house instead of putting money into an investment property.

This will have plenty of family benefits, which makes sense. But, the ramification of spending money on a house is that we can’t spend that money on investment property.

So, that leaves me with two options:

  1. Skip buying an investment property for a year so we can buy a house
  2. Work harder to so I can do both

If you’ve read anything I’ve ever written, or the entire mentality of this case study, then you know what my answer is.

I just need to work harder to get this done.

I had planned to slow down on consulting to allow for more time to focus on my business.

I can’t do that anymore. I need to do:

  • Full time consulting
  • Full time day job
  • Full time startup
  • Part time  real estate investing

In essence, to reach $10K a day at 30, I need to work the equivalent of 3.5 full time jobs.

That sentence, right there, is why you don’t see people retiring at 30 with  $10K in passive income.

I don’t drink. I don’t party. I’ve never touched a drug. I read when I’m  not working, which is rare. I work 3.5 full time jobs. And I’m going to retire at 30.

 

Yesterday there were 1,598 days until I turn 30 and need to make $10K a day passively. Here’s how I spent it in pursuit of that goal

The current phase of the plan

I’m in Phase #3:  The Business Phase.  You can read more about the phases and my plan to get to $10K/a day at 30 here.

I still consult, and  I still have a job. I’m looking forward to removing both of those ASAP.

Wake up & sleep:

I woke up at 8:07 am after going to bed at 10:54, for a total amount of sleep of 8 hours and 35 minutes. Recovery was 59%

I’m not sure why my recovery was 59% with good amounts of sleep. As before, I haven’t figured out this sleep/recovery paradoxical relationship yet but absolutely need too.

Exercise

My fiancee and I walked a ton together. I ended up with a day strain of 8.7

Stress levels

I was at a 4/5, with 1 being the highest. Consulting work slowing down is a big value-add.

Diet

Diet was coffee and then ordered Chinese food for dinner. 4/5 with 1 being the best. Expensive as shit too.

My Day Job

Sunday

Investment real estate

Nothing, although we should have some work being done on our 6 unit right now.

Passive Websites

Nothing

My Actual Business

Not much right now, I’m mostly just monitoring the 99 designs contest to see what happens and if a good brand guideline set comes through.

Side Consulting

Business is slower here, but hopefully picks back up quickly

Business plan

Final steps

Financial modeling

Nothing here

Frameworking

Nothing

Summary presentation

I spent an hour or two here

Market Research & Customer  Interviews

Nothing

Sourcing new work

Couple conversations with an old client but that was it

$10K/day website

Daily post

Family

Walk and dinner with my fiancee.

Miscellaneous

Nothing

Rescue Time Daily Screenshot

Weekend Day

What I made today

Current Income  Streams

  • Job:  $170
  • Rental Income (13 rental units): $43
  • Framework: $250
  • Customer Interviews: $430

Total:  $893

Planned income streams

  • 15 websites
  • My Startup
  • Local Serviced Based Business  (cleaning business)
  • Affiliate
  • WordPress Maintenance Site
  • Content sites
  • Franchises
  • Dividend Income (municipal bonds)
  • Micro-SAAS’s
  • Hotels

Today’s pro-rated amount of monthly & yearly expenses

 

Life Expenses: $89.73

  • Rent, utilities, Internet: $63.33
  • Phone Bill: $1.57
  • Heath Insurance: $8.90
  • Ladder Life Insurance: $0.83
  • TrueBill for Budget tracking: $0.10
  • Car: $15

My Startup’s Expenses: $0.16

  • Bluehost Domain name: $0.16

Health Expenses: $12.00

  • Peloton: $3.20
  • Gainful Protein Powder: $1.80
  • Care/of Vitamin pack: $3.00
  • Whoop fitness tracker: $1.00

Productivity Expenses: $2.25

  • SuperHuman to save time on email: $1.00
  • Rescue Time to keep me honest on my productivity: $0.20
  • Fantastical as my main calendar: $0.20
  • Evernote to track everything: $0.27
  • Grammarly to keep my emails looking okay: $0.38
  • BackBlaze to keep my files backed up: $0.20

Consulting Business Expenses: $302

  • Gusto to pay myself: $1.50
  • Quickbooks to track expenses: $0.40
  • Google Business Email Account: $0.40
  • Fiverr for virtual support: $0

$10K a day: $12.42

  • Kinsta for hosting: $1.00
  • Bluehost for domain names: $0.03
  • WP Rocket for speed: $0.14
  • Link Whisper for SEO: $0.14
  • Elementor for site design: $0.14
  • Astra for theme: $0.14
  • Rhino Rank for SEO: $10.83

Real Estate Investing: $0.52

  • Legal Zoom Registered Agent (all LLC’s): $0.52

Today’s Income (pre-tax)

Topline of $893, spent $119, which means….

Made $774 (pre-tax).

My plan for tomorrow

Tomorrow is Monday, and I need to do:

  • A dozen calls or so
  • Daily post
  • Sell more consulting work

 

1,597 days until I turn $30. I’m making $10K a day passively by then

Dean Woods

Dean Woods

Dean’s goal is to create $10,000/day in passive income through entrepreneurship. Too many people write “success porn” that skates over the struggles many face in entrepreneurship. His goal is to create something real that highlights the lack of sleep, disappointment from family, and setbacks you really face in entrepreneurship. The hope is that $10K a day swill inspire someone else out there to make their entrepreneurship dreams happen. Dean Woods is side hustling and working a full time job to kickstart his entrepreneurial path. Prior to this life, Dean was a management consultant. Dean graduated with honors from The Wharton School.

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