Wealth

‘I work just 5 hours a week’: This 39-year-old makes $160,000 a month in passive income—a look at his typical day

I was never an entrepreneur. After losing my job as an engineer in audio, I had to find creative ways to make ends meet.

Thirteen years later, at the age of 39, I have two online businesses that generate $160,000 per month in passive income. I recently published a book. “How to Get Paid for What You Know.”

My first business was The Recording RevolutionMusic and education blog. It sells music production courses. The second, which I founded in 2018, teaches people how they can make money from their passions, just like I did. It’s the most lucrative business because of its high-quality products. online courseSales of coaching programs, as well as affiliate commissions.

My products are used daily by around 2,800 people. I want to help more entrepreneurs grow their online business while working less.

My top priorities are spending quality time with my family and giving back. I have set up my personal and professional life to allow me to concentrate on these key values.

Here’s my typical day:

Mornings begin slow and easy

I usually wake up at 5 a.m. — before the kids — because I always want an hour to myself. I will start with coffee and my Bible.

After some reading and praying, I will make breakfast with my wife, then wake the children. We’ll spend 20-30 mins together in the kitchen before I drop the kids off at school by 7:15 a.m.

I then head back to work or go to the gym if I feel like it.

I work just five hours a week — Mondays and Wednesdays

Mondays are when I plan and create YouTube videos, and podcast episodes. These free online videos are a great way to find potential customers. If they like it they can sign up to my newsletter to receive emails about premium online courses and resources.

These courses make me a lot of passive income. My business system is designed to automatically send emails. This means that the bulk of my work is to keep a steady stream of free content.

Recording podcasts and videos takes approximately two hours. I have someone who edits and uploads my content. My Monday evenings are dedicated to answering questions or providing advice to members of my family. Six-Figure Coaching Community.

On Wednesdays, I spend time in community interaction and then host a 90 minute live call with my advanced coaching students.

Each month, I film a training session for my paid community members. This adds approximately two hours to my work week.

I have never been a fan hustle culture. I don’t think it’s healthy nor wise. You don’t have to spend time maintaining your business if you can create systems that allow it to run on its own.

It’s not worth “being your own boss” if it means you’re constantly working.

My No. 1 priority is my family time Family time is my No. 1 priority

People often ask me what do I do with the extra time in my day. My answer is not the most exciting. I do errands and go to the gym. I also have coffee or lunch with friends. Right now I’m reading “Living Fearless” by Jamie Winship.

My family is my most important priority. Fridays are “date days” for me and my wife. We exercise, go out for lunch, catch up on life and talk about the children. Then we meet with our marriage counselor.

Recently, we have been focusing on ways to communicate better when there are disagreements. Although no marriage is perfect, the work that I have put into our relationship has made me a better husband.

My wife and I always pick up the children from school together. We want to be there when they are. Family dinner is our other non-negotiable. Every night, we sit down to a non-technical dinner. My wife cooks the meals and I make the main course. We also eat out once a week.

We love to go on walks, swim in the pool, watch movies, and play Nintendo Switch together. We hope to teach them important life skills such as how to be kind and share our feelings. I want them to feel valued and included in the family.

We’re big on traveling, too — both locally in Florida and around the world. A few summers back, we spent a whole month in the South of France. We stayed in Puerto Rico for just three weeks this spring. This is priceless because we have the flexibility and time to make these memories together.

Radical generosity is a core value

Every Sunday we attend church, and often volunteer with local organizations that help the homeless population of our city.

My philosophy is to make money so that I can give the majority of my profits to charities and my church, groups that do a lot of good around the world.

My wife and I currently give 30% of our income to charity, but we hope to eventually give away half.

Graham Cochrane is founder of The Recording Revolution, author of “How to Get Paid for What You Know″ and is a business coach to over 2,800 customers worldwide. Follow him on Instagram and Twitter.

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Source: CNBC

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