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My System How I’m Building a Life Where I Don’t Need a Job — Transcript · YTtoTranscript

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My System How I’m Building a Life Where I Don’t Need a Job

The Dividend Nomad · 2,614 words · 13 min read · EN-ORIG

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Below is the complete, readable transcript of My System How I’m Building a Life Where I Don’t Need a Job by The Dividend Nomad on YouTube. Read the full text, copy any part you need, or generate a transcript for any video with our free tool.

Guys, I am 45 years old. I'm definitely not a millionaire. Hell, I still have a job, even though it's a part-time job, and it's doing something I love, but still, it's besides the point. Um, I spent the last several years, building a system around one goal, and that is never needing to rely on a job again to

survive or to pay for my life. And I can tell you from experience from doing this that it's not just a dividend portfolio. I have four different investment accounts. I have YouTube channels. I have books. I have products. I have cash reserves. I have a business. Everything I have has a different job. Today I'm

going to show you how this entire system works. So ordinary people like you and I can actually escape relying on a regular job paycheck to survive or to live your life. And basically what I'm trying to say is investments aren't really the plan. It's the system. This entire system is the plan. And if you plan

correctly, you can use this system for yourself to escape the job that you hate and actually enjoy your life on your terms. And this is something I've done in my life. So first of all, it goes like this, right? Active income comes in. Active income is just money that you earn through doing activity, right? Through

your job or through like for my case doing YouTube channels. I do business. I create products, right? Those are things that I actually had to work to create, right? They're things that I use my time to create. And anyway, when that income comes in, that income gets converted into capital. It's usable money. And that money gets

assigned a different job. So some of that money goes gets assigned to uh creating assets, creating the investments, creating the YouTube channels, creating the products, right? I use money for that. I use that money for the assets and eventually those assets produce income to live off of. They produce growth, which means my

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wealth is growing. They produce security, right, for emergencies. And the end result is less dependence on employment. It means you don't need a job anymore. And that's basically how the system works. So let's talk a little bit about the job first because if you're a normal person, you probably have a job. You're probably

still working unless you're already retired. So basically your current job is extremely valuable to this entire strategy. It pays for expenses and it provides investable capital. It provides money you can use to build the assets, right? So, you're intentionally converting your income from labor into assets. So, you're using the job that you want

to leave to finance the assets that will let you leave the job. Right? If you don't finance those assets, you're never going to leave the job. You're going to be stuck there forever. And that's where the job comes in is actually financing these assets. Now, for me, part of my system is my portfolios. It's not the

entire system, but it's part of the system. And I actually have four different portfolios with four different jobs, or you can think of it as four different financial buckets. And this is where a lot of beginners sometimes get confused because [snorts] they might see me talking about different accounts, but it's actually really simple. So, I'll

break it down to you really quickly uh one by one. But first of all, I have a freedom portfolio or it's what I like to call it, my freedom portfolio, but it's an income portfolio, right? Its job is to create income right now that I can use right now to pay pay my phone bill,

to pay the light bill, to put food on the table, to pay the rent. That's the job of the income portfolio is to pay for all of those things. It's money I can use. Now, now this month, I will earn less money because I sold a big position, but that's okay. I don't have

to force myself into another investment that may or may not work out because I have other income. That's the whole beauty of this strategy. So, my other portfolio is my retirement portfolio. For me, I'm using a Roth IRA. You don't have to use a Roth IRA as long as you have some type of portfolio for

retirement. It can be a traditional IRA. It can be a Roth IRA. It could be a regular taxable brokerage. But have your retirement fund separate from your other funds. You need a different bucket for that retirement money. So basically my freedom portfolio is money that I'm using now or soon. And my retirement

money is money for for later when I get older, right? And I'll share that with you guys in another video. The actual portfolio and what's in it if you're interested. But my third financial bucket or portfolio, so I use portfolios for my financial buckets is my stability account and I also call it

my creator account. So basically what I do with this portfolio, this portfolio for me is money that I generate through some of my businesses or extra income from my stock portfolio or trades or just other income that comes in that I don't need to live my life, I will put aside into this stability portfolio for

emergency purposes. So, say um one of my income streams doesn't work well and I need more income or I need more money now to live. I can use money from this. This my uh think of it like um like emergency expenses. So, I keep two years worth of emergency expenses. I have um emergency medical expenses. I

have um you know rent covered for one year. Basically, emergency rent expenses. I keep all of the emergency money in this in case the proverbial hits the fan, I have something to fall on. And that's what that portfolio was for. It's for that specific purpose alone. And then lastly, I actually have an experimental portfolio. And this is a

small allocation. It's just a small amount of money that I use for experiments. So, say if there's an ETF that I'm interested in, like a high yield ETF that I want to add to my income portfolio, I can test it here first to see if it's actually going to do the job that I want it to do. Then,

if it does, I can move it into my more longer term portfolio. And if it doesn't, no big deal. It was just an experiment. I can experiment with other things like options strategies or options trading like for learning. I can experiment with swing trading or day trading. And if I lose, it's not a big

deal because that money is just there for these experiments. And if I run these experiments and they work out, then I can decide to give them a more long-term um, you know, I can put them in the long-term portfolio or longer term goal and separate them and do them over there instead of in the

experimental portfolio. And so I allow myself a little bit of money to run those experiments. And then um here's the thing that gets missed when people watch investing channels, right? The portfolios and the brokerage accounts aren't the entire strategy. They're not the entire system. People who share that with you, like myself and

people who have millions of dollars, they're sharing that with you. That's still not their only strategy. Um you know, the investments are just one side. Like a lot of a lot of us uh have jobs, we have active income, we earn money from YouTube, we create books and products. And it's not because not we're

creating these because uh we're trying to get rich off of them or something like that, but usually when you create a product, it's organized information that people can actually uh read and learn from get some value out of it. Because a lot of times when you're watching a YouTube video or something like that,

it's hard to organize the information or it's hard for people to understand like you know today you make this video, next week you make that video and it's people have to piece all that together and it's a lot of work for people to try to do that to understand the whole thing that's going to help them. So we create

digital products where everything is organized and easy to follow along so people can actually learn from it just like a textbook almost. And that's where a lot of income comes from from these type of products, consulting calls and things like that. And then for me, I also have other income streams. I have a

fitness supplement business in China where I import fitness supplements from America and sell it to people in China. That's another stream of income for me. I have in my investments, I have my experiments. Uh so I have all these different things working for me in the background. Now imagine this. Imagine you have an income portfolio that's

paying you a,000, $1,000, $200 a month each and every month. You have a YouTube channel or several YouTube channels that pay you, you know, $1,000, 2,000, $3,000 a month. Now, imagine you have products that pay you another,000, 2,000 a month. You have other income through businesses or side hustles or whatever other place you're

getting income from. Now you've essentially created, you know, 4,000, 6,000, 7,000, $10,000 a month without even needing a job. And they're all coming from different places. So this month, this one doesn't perform well, I still have three, four, five more. That one doesn't perform well, I still have three, four, five more. So you're not

just relying on one source of income as opposed to some people who just rely on the job or rely on the social security check or rely on only their portfolio. You have all these different things working for you and they're things that you've built. They're assets you've built and things that you know about and

things that you like. So it doesn't really feel like work to you. And then on top of all of that, for my case, we have what's called geographical arbitrage. I'm living in a place that's cheap. I live in Southeast Asia. I live in China, Philippines, Thailand. Like, I'm living in these places where you can live a really

decent life for 1,00 1,500 a month. You can re live a really, really nice life for $2,000 a month. So, that right there allows me to not need as much money to have freedom just by doing that alone. Now, you don't have to move to Asia to do this. You can do it anywhere. You can do wherever

you're at. You just have to make different decisions like um you know, not getting the $50,000 car, brand new car. You know, you just drive a cheaper car that gets you from A to B. You can live in a cheaper neighborhood. If you're one person, you don't need a six-bedroom house, right? You can live in a cheaper place. You can

eliminate unnecessary debt like your credit card debt and all this kind of stuff, right? Um you basically reduce your fixed expenses, your car payments, your mortgages, all this kind of stuff. if you reduce those fixed expenses because every $1,000 you permanently remove from your monthly spending is $1,000 you no longer have to replace. You don't have

to replace that much money anymore. So what you're actually trying to achieve is not necessarily to like not earn another dollar again is to not have to rely on one thing to pay that dollar to you. You have all these different things where you can potentially earn money that can replace that dependency on your

nineto-five. So you're reducing your dependence on employer. You increase the number of income streams. You increase your invested assets, right? You grow your portfolios. You grow your other businesses. Um you keep your lifestyle at a reasonable cost. And by doing that, you reach optional employment, which means you don't have to work if you don't want to, or you

don't have to work full-time if you don't want to. You can go work at a coffee shop 10 hours a week just because you want to interact with people if you want to do something like that, right? And that's what buys you your freedom. It's not having to work because somebody else controls whether you pay your bills

or not. it's working because you want to or doing something that you enjoy doing. And so that's one of the reasons why I created my freedom blueprint. It's an entire system where um basically I show everything behind the scenes of how you can create this for yourself. And if you're looking to build your own version of the system,

I highly suggest you check it out and I'll leave it down below. But you know, I also have free newsletter and things like that that are also very beneficial and helpful to helping you uh think about what it is, you know, the life it is that you're going after, how to actually achieve that. You know, have

those talks in my newsletter as well. So, um really that's basically the entire strategy in a short version. If you want the full version, uh the full explanation, step by step how to create it, it's all in the freedom blueprint. But basically, my dividend portfolio by itself is not what makes me free. It's

not my Roth IRA. It's not my YouTube channels. It's not my products. It's not my business. It's not selling options or day trading, nothing like that. It's not living somewhere cheaper. It's when I stack all of those things together on top of each other, that's when my assets get larger, my income becomes more diversified, my

lifestyle becomes easier to fund, and my dependence on one thing is much much smaller. And that's really where ordinary people like you and I can gain freedom, can gain optionality. Think of it like you don't have to like think of it like diversifying your income. Just like how they say diversify your investments, you need to diversify

your income as well. Don't rely on just one source. Rely on multiple things together, things that you enjoy in order to create that optionality and to create that freedom. So, if you're interested in more videos like this or if you like this video, hit the like, subscribe button. And also, if you have any questions or comments about

this, about the strategy or about the overall system, I would love to hear your thoughts and comments and questions down below. And if you ever want to reach out to me other than through the comments, if you are subscribed to my newsletter, you can just hit reply to any of the newsletters and I'll will see the message and I will

be the one to reply. I don't have any team or nothing like that helping me. It's always me. So, uh, thanks for spending some time with me today. Thanks for listening. I hope it was helpful and I look forward to seeing you guys on the next video. You guys take care.