Lately, I have been obsessed with “passive income” – I want to make money while I sleep, damn it!
I quit my profitable poker career 1.5 years ago. Sure, I was making good money playing mid-stakes live game ($5/10 NL); I traveled and partied in Las Vegas and Macau. I spent $86 eating a piece of beef (kobe beef … it was worth the money because it tasted like butter melting in my mouth)
The poker lifestyle was fun because it “easy” money. It afforded me to shoot guns and drive a lambo around in Vegas. But in the end, I realized I was trading time for money. I had to sit around old men (some of them stinks) and out smart them to get their money. Poker players talk about “hourly rate” – say, if you played $2/5 NL live game, you were capped at $45 per hour in the long run.
I did not want to make $45 per hour in the long run. Plus sitting at the poker table for the next 35 years seems depressing as fuck. If someone is smart and disciplined enough to beat mid-stakes poker, he can aspire to do greater things in life.
So I took the leap; I said “fuck you poker, I want to make money while I sleep.”
How to make money while you sleep (for beginners)
So now I’m publishing on Amazon Kindle.
I write books and make my own cover. Then I upload it on Amazon; Amazon takes about 30 percent cut for every sale. And that’s fine by me. Why? Because I don’t have to run around and market my book. People see the attractive book cover and promising title and they buy it. At my peak, I was making $2,000 USD per month with Amazon Kindle Publishing (this was back in 2013, when not a lot of people heard of KDP)
I haven’t published a new book in 2.5 years and I’m still getting about $50 USD per month from Amazon. My goal is to make $3,000 USD per month with Kindle Publishing; it’s just a starting point. There are people making $10k, $20k with Amazon Publishing (they have people writing books for them; it’s like a machine – they keep publishing romance novels)
By the way, if you want to make “passive” income on the Internet, Amazon Kindle Publishing is a decent way to get your feet wet because you simply write and publish the book and Amazon takes care of the rest. Best of all, it’s free to join.
For now, my goal right now is to write 3 hours a day, every day, for the next 10 years (yes, I can always outsource the writing later)I want to build a publishing empire. Amazon Kindle is just the entry point because you can publish books and make more money with Create Space (owned by Amazon) and Audible.com (owned by Amazon, I think)
What’s the point of making a pile of money?
So you can fill the bath tub with cash and bathe in money 😉
Because the definition of average is waking up in the morning and working at some 9 to 5 job. I don’t think there is anything wrong with working 9 to 5 if you enjoy the job, unfortunately many don’t enjoy their jobs.
But yeah, the point of making lots of money is to afford your ideal lifestyle, so you can wake up in the morning feeling smug every day instead of “fuck, I need to go back to work today …”
The best book I stumbled upon for making money is “F.U Money: Make As Much Money As You Damn Well Want And Live Your LIfe As YOu Damn Well Please!” by Dan Lok.
The funny story is, I tried to find a pirated copy of his book. I used my Google-fu skills but to no avail; that’s because Dan Lok is an Internet marketer and he took down all pirated copies of his book.
So I forked over $10 and bought his book on Amazon. I don’t have an Amazon Kindle so I had to read it on my laptop. And guess what? I read his whole book (about 250 pages) in 1 sitting! The book is fucking awesome and I highly recommend it.
The book is about the “mind set” to getting rich because Dan Lok believes that getting rich is 80 percent mental game. He says that he can give guys the exact same instructions on how to get rich on Amazon Kindle; one will get rich as fuck, while the other won’t make money because of mental road blocks.
(It makes sense if you think about it: the mind is like a software; install the right software and you will get the right results)
This is by far, the best fucking book I read on making money (and I read many, many books on making money). Why? Because I like Dan Lok’s gangster attitude. Just watch him talk:
(Interestingly enough, Dan Lok is Dan Pena’s mentee. LOL!)
To be free, you need the $$$
Because you can’t call yourself a free person when you wake up in the morning and drive to work and deal with a smug asshole boss (who, by the way, enjoys giving you a smug look every day)
Depending on your goals, anywhere from $30k USD to $250k USD a year in passive income is worth striving for. My goal is $250k a year in passive income and I will work my ass off for it.
If you’re working in a full time job, work part-time like 3-4 hours after work on a side business and see where it brings you. I hope reading this article inspired you to take action to make lots of $$$ so you can retire and become a free person. We’re on this journey together!
Questions? Let me know.