Because I had a $100,000 income target in mind while in college, I set out to work in an industry which would allowed me to make such an income. Industries such as consulting, finance, legal, high tech, and medical are such industries. The problem is getting in and surviving for a long enough time to reap the financial rewards.
I see many people bail out before the income really gets good because they just can’t take the work hours, pressure, and stress anymore. I understand completely since not everybody is cut out to work 50-80 hours a week and constantly compete for their lives. Eventually, we all burn out. I’m just surprised how quickly some of the younger folks burn out nowadays.
As a middle-aged man now, I’m no longer naive about the world. $200,000-$250,000 is my ideal income for maximum happiness, but at what cost? If I am to spend more than 50 hours a week trying to make $200,000, that’s not very impressive. If I could spend just 20 hours a week making $200,000, then I think that would be mighty fine.
IDEAL AMOUNT OF WORK TIME A DAY
My ideal amount of work a day is roughly four hours. I like to get up early and work from 7:30am to 11:30am non-stop. I find that I can maintain a maximum focus of up to four hours, by which time I start to fade if I work any longer. My concentration deteriorates, and I start to get fidgety and want to go outside.
From 11:30am-1pm, I take a leisurely lunch break. Afterward, I enjoy a nice 30 minute siesta on the couch before I go and perform some physical activity to try and stay in shape. I might sprinkle some afternoon errands and by the time 6pm roles around, it’s date night and relaxation time.
There will often be times when I have to get on the computer and work at night due to clients in Australia and Asia. However, I don’t plan on spending more than 45 minutes online after dinner anymore because I want to spend time with my loved ones instead.
I encourage everybody to get a sense of what their optimal work hours are and find a way to get there. I know if I only worked for one hour a day, I’d feel unproductive. Meanwhile, each hour after four hours of work gets less and less enjoyable to the point where I will start hating work after the twelve hour mark!
SLOW AND STEADY WINS THE RACE
Making $200,000-$250,000 a year working just 20 hours a week is no easy task. I’ve reset to zero now that I’ve retired from corporate life and look to build multiple income streams online instead. Although the task may be difficult, if I give myself a long enough runway, I believe I can make it happen.
By December 31, 2015, I aim to generate over $200,000 a year in operating profits from my entrepreneurial activities. I know that if I stick to building up my consulting practice, producing products, writing consistently online, and networking, I will get there from scratch. I’m going to invest in new ventures as well.
I’m excited about this three and a half year goal. Perhaps I will fail, but at least I will try. Perhaps I’ll get tempted to go back to the corporate life before then. That doesn’t mean I still can’t strive towards my goal. All I know is that I’m going to focus on the journey and have fun trying to get there!
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