Financial Samurai - Forums

Career => Entrepreneurship / Side Hustles => Topic started by: Sam on December 22, 2019, 08:01:30 AM

Title: The 5 am Club
Post by: Sam on December 22, 2019, 08:01:30 AM
Hello Everyone!

In the post: The Average Net Worth For The Above Average Person (https://www.financialsamurai.com/the-average-net-worth-for-the-above-average-person/)

A reader commented:

"After reading many of your articles, I am genuinely curious how an average person is supposed MAX out their 401k and some how magically save up for invest in RE and still figure out to pay rent and live some what of a life. Could someone please explain to me how this would even work ? I feel like something needs to be sacrificed, Im not a doctor nor lawyer nor someone that makes over $100k.

Any advice would be appreciated."

I've received plenty of similar types of comments before, mostly from younger readers who find it impossible to save more and invest more to build their wealth. I have written in depth about the importance of grinding it out in your 20s and 30s to set yourself up for a great life in your 40s and beyond.

Examples:

https://www.financialsamurai.com/achieving-financial-independence-on-a-modest-income/https://www.financialsamurai.com/maxing-out-your-401k-is-a-choice-on-an-average-income/
https://www.financialsamurai.com/average-vs-recommended-expenditure-on-housing-food-transportation/

To simplify the process of building wealth, I want to start The 5 am Club. Because no matter what I write, there is one thing that I think helped me build wealth more than anything else: getting up by 5 am to work for at least a couple hours a day BEFORE going to work or or taking care of my children.

If you work for two hours a day on something productive every day, over the course of the year, you will work 730 hours more than the average person who does not get up early to work before work. You might get so hooked on your progress that you will work an hour or two hours after work as well. It is almost impossible not to see progress after a year of commitment.

If you want to join The 5 am Club, then you simply have to sign up, bookmark this forum, wake up by 5 am for at least five days a week, and highlight what you've done during this time at least once a week.

Your goal is to work at least an extra 10 hours a week on being more productive all year. If for whatever reason you slack off one day and wake up at 6 am, simply work an extra hour or however many hours it takes to stay on track.

You don't have to be smarter or more skilled to get ahead. You just need to be committed to doing more than the average person.


The 5 am Club will start on January 1, 2020.

Regards,

Sam

Title: Re: The 5 am Club
Post by: DRW on December 22, 2019, 03:02:49 PM
I'm in. I started waking up @4a in September to study to re-take the GMAT. I fell off a month or so ago so this will get me back on track so that I can get these apps going. The plan is to keep this habit going even after the test is done and the acceptance letters are in.
Title: Re: The 5 am Club
Post by: Sam on December 22, 2019, 04:04:37 PM
Quote from: DRW on December 22, 2019, 03:02:49 PM
I'm in. I started waking up @4a in September to study to re-take the GMAT. I fell off a month or so ago so this will get me back on track so that I can get these apps going. The plan is to keep this habit going even after the test is done and the acceptance letters are in.

Excellent! I don't expect many people to commit, but I plan to do so all 2020 and it's good to have you on the ride.

Ideally, I'd like to have 5-10 people stick around all year. I'm sure good things will happen.
Title: Re: The 5 am Club
Post by: J.R. on December 23, 2019, 02:54:24 AM
Hi Sam-
I'll give this a go as well.  In fact, after seeing your post yesterday, I decided to do a "dry run" today and see how it goes.  (I understand you weren't starting this until 1/1.)  I usually get up at 6:00 (Eastern Time here).....got up at 5:00 today. Went through my entire normal routine, just started it at 5:00am instead.  So now I essentially have added an extra hour to my first half of the day....my more productive half of the day.

I think the accountability factor is going to be important.
-JR





Title: Re: The 5 am Club
Post by: Sam on December 23, 2019, 05:51:57 AM
Dec 23 Week - Let's Go!

12/23/2019 - Got up at 4:50 am and published https://www.financialsamurai.com/proof-getting-ahead-is-about-production-not-skill/. Sent out e-mail blast and social shared post on various networks.

Need to update old education-related posts with new copy from a new ad partner.

Update posts from 2013 and older.

Take care of little one starting at 6:30 am - 8:30 am.
Title: Re: The 5 am Club
Post by: Field8 on December 23, 2019, 05:59:10 AM
Count me in as well.  (Except I'll be waking up at 4:30 because I usually wake up at 6:30). 
Here is a list of activities I'll do with my extra two hours:
1.  blog
2.  exercise
3.  wash dishes/clean my apartment
4.  study for the GMAT
5.  write eight presentations for a class I've always wanted to put on at Continuing Education at the university
6.  money management
7.  teach myself astrology
8.  meditate
9.  study my aviation textbook
10.  do my Red Cross online training
11.  In the summer of 2020 I hope to be taking a interior design staging course.

Yes I have too many things going on.  I think 2020 will be the year to try a bunch of things and see what sticks.
Title: Re: The 5 am Club
Post by: griesrt on December 23, 2019, 08:46:22 AM
I'm down for this.  This has been a goal of mine for a while. My aim was usually to wake up this early to exercise but this is the best time to work because you're less likely to be contacted this early to do things.  I talked to a friend last week who is in the 3-4am club.  I have no idea how he does it this early but he said that the benefits are huge.  I have about 3 things going atm.  I have a new real estate product that I've been working on with a friends.
Title: Re: The 5 am Club
Post by: Shannon on December 24, 2019, 06:32:36 AM
Count me in! I'm an early bird by nature and have some goals I want to achieve this year, so this will be a great accountability measure. I'm going to broadly focus my two early hours on financial matters, which I'm currently thinking of in 3 categories. These may change as we get moving, but for now:

1. Something Old: Moving forward with my existing list of to-dos relative to work and finances.
2. Something New: Bringing life to new ideas that change my current landscape of work and finances.
3. Something for Others: Accounting for what I did in the course of the week to help someone else.

I'll be back after the holiday week and look forward to getting started with you on Jan 1st!
Title: Re: The 5 am Club
Post by: Snake_eyes on December 24, 2019, 07:08:56 AM
I'm in !!

I'm going to set Quarterly goals. Two per quarter. I used to be pretty good with setting yearly goals and hitting them, but life got busy (kids haha) and now I don't even bother setting up goals.

I read about the effectiveness of quarterly objectives vs annual and The 5am club seems a great fit to go along with this approach.
Title: Re: The 5 am Club
Post by: Sam on December 24, 2019, 11:30:41 AM
Fun response from a newsletter reader:

This made me chuckle,

I built a business that eventually made more over $4M over eleven years while being a full time Stay At Home mom.

People asked me how I did and I always told them two things:

1.  I wake up at 5AM and everyone else in my house sleeps until 7AM.  I work on my business for two solid hours every morning.

2.  I don't watch television.

BOOM.
Title: Re: The 5 am Club
Post by: J.R. on December 26, 2019, 11:32:10 AM
So, I see a few people mentioning goal setting.  Are you guys doing any formal planning or goal setting?  My mind starts to go to "new years resolutions."  I have never made new years resolutions and do not intend to start now.  Maybe I have the definitions wrong.....and maybe I'm drawing too fine of a line.....but I'm distinguishing between goal setting and task planning versus resolutions.  To me a resolution is something like "join a gym and work out 8 times per week."  I don't have a gym now and am not working out now so this isn't going into my 5am Planning.

That doesn't mean I shouldn't be exercising....of course I should be.  But the 5am club FOR ME is about doing the things I'm already doing better.  I've invested in real estate already.  But I haven't achieved the level of record keeping that I'd like.  I will address this at 5am.

One of my kids is in high school and doing college planning.  I want to work on helping find scholarships.  I've done some of this already but need to keep at it.  I want to see if I can offset a significant part of college cost with scholarships.  I will address at 5am.

I'm thinking of writing a "manifesto" of sorts of the things that I plan on working on and achieving in 2020.  A little more formalized goal setting than I have done in the past.  The 5am hour is when I'd envision making meaningful progress on these goals.  I've even thought perhaps of having the manifesto be a live document that I use to track and record progress and adjust the goals throughout the year.

Anyone else formalizing their goal setting?

Thanks,
JR


Title: Re: The 5 am Club
Post by: Sam on December 27, 2019, 06:17:40 AM
J.R. - I definitely have goals for 2020. The 5 am Club is a process. I believe if we follow a process where we're waking up 2 hours on average before the world, we will reach our goals.

***

got up at 4:50 am this morning and got my new 2019 year in review post out and gotta do some podcasts before year end to keep up my one a week streak!

Cheers
Title: Re: The 5 am Club
Post by: torpan72 on December 27, 2019, 08:41:05 AM
I'm going to try this.  I am not an early bird by nature but realize that life is catching up and I am always making some sort of excuse to not get things done.  Want to change this mindset for myself and the benefit of my family.  Have two small children now and realize that the mornings before work are the best times to get personal things done.  I have 2 main goals for 2020:
1) Regular Exercise
2) Study for CFA Level 2 - which I have put off since forever!

For the exercise part I'd like to shed approx. 1-2 pounds a month.  I feel that is a realistic goal but nothing will happen if I keep hitting the snooze button in the mornings.  I feel that this forum can motivate me to stay on track.  Wishing everyone the best for 2020!  :D

Title: Re: The 5 am Club
Post by: JARoss01 on December 27, 2019, 02:19:21 PM
I'm in....this is a great idea.  Preparing my sleep patterns to adjust to 5am by Jan 1st.  My goals are to 1) Get control of my mind and direct energy and intentions towards my conscious desires;  2) Become a better trader by making money in an up, down or sideways market; 3) Find real estate properties I can purchase and flip for profits.
Title: Re: The 5 am Club
Post by: MC4H on December 27, 2019, 05:23:53 PM
Does having a baby count as commiting to wake up at 5 am? ;D My plan is to sleep less since my body will be used to it anyways and focus on adding one skill and focus on building my blog in 2020!
Title: Re: The 5 am Club
Post by: Sam on December 28, 2019, 10:25:16 AM
Quote from: MC4H on December 27, 2019, 05:23:53 PM
Does having a baby count as commiting to wake up at 5 am? ;D My plan is to sleep less since my body will be used to it anyways and focus on adding one skill and focus on building my blog in 2020!

Absolutely! I remember when my boy was born, I forced myself to work for 1-2 hours in between feeding in the dead of the night. He helped productivity! LOL

Congrats!
Title: Re: The 5 am Club
Post by: Austin on December 28, 2019, 01:29:03 PM
I'm in.

I've been struggling in finding time to get more things done. I've been trying to wake up earlier with varying success. I think "The 5 am Club" is just what I need.

I have about a hundred things I'd like to pursue, but I think for now I will focus on one: building a side-business.

I look forward to getting up early with everybody!
Title: Re: The 5 am Club
Post by: novarealtorMNM on December 30, 2019, 07:36:52 AM
Read this from a link in the newsletter and started getting up at 5am for the last 4 days.

As a realtor, no client is awake at 5am lol so I use 5-7am to research and educate myself about real estate, work on my podcast (two eps./mo.), and get myself pumped for the day.

Activity and skill win the day. I'm ready to win the YEAR!  ;D
Title: Re: The 5 am Club
Post by: Sam on December 30, 2019, 08:44:07 AM
December 30, 2019 log: told myself that my 2019 Financial Samurai year in review post would be the last post for the year, but because I was getting up before 5 AM, I had more free time on my hands and decided to write about how the Secure act will help retirees at the margin. Post is out, is helpful, and seems to be doing pretty well.

If you're a business owner, finishing the year strong is really starting the year strong because you get paid for your December work in January.

Once you've got the momentum, the rest of the year gets easier. Let's go!
Title: Re: The 5 am Club
Post by: newalker0407 on December 30, 2019, 11:22:25 AM
Hi Sam,

I'm in. I've already put together a list of goals I intend on accomplishing this year, and can't wait to read about the progress everyone has made!
Title: Re: The 5 am Club
Post by: Koidragon on December 30, 2019, 01:17:00 PM
I'm in!
My goal and ongoing project is to develop a system/business that will generate a consistent and reliable passive/residual/royalty-driven income that is scalable and centered on what I love to do  ;D
Title: Re: The 5 am Club
Post by: Integrity on December 31, 2019, 12:44:30 AM
I'm in!  Thank you for creating this forum.  I've started a land use consulting and property management business but need to focus on growth. This is my goal for 2020.
Title: 31 December 2019
Post by: novarealtorMNM on December 31, 2019, 02:32:45 PM
I got home late yesterday and so wasn't able to go through nightly routine, but I was able to plan today's 5am tasks.

Accomplished 05.00-07.00:
- swept main level floors
- gratitude journal
- Rebus University Real estate coursework (45mins)
Title: Re: The 5 am Club
Post by: Field8 on January 01, 2020, 02:41:00 AM
I'm up!!

I've been sooo worried about my ability to get up at 4:30 this whole week (and after New year's no less), and yay I made it!  I'm going to go get some water and process some receipts.  Good luck to us all this year.  I'm already grateful for this accountability group.
Title: Re: The 5 am Club
Post by: Shannon on January 01, 2020, 05:35:57 AM
Good Morning and Happy New Year 5 a.m. Club!

It's been a good week leading up to the New Year. Here's my landscape of recent financial-related events:

1. From the "something old" category -- meaning something I was already committed to do but needed to kick into gear: I rented one of my vacant apartments. The demand was brisk (probably could have raised the price) and I landed on a tenant who paid the entire year upfront. Love that! We had to hustle to get the lease done yesterday since this was a biz expense for the tenant that they wanted sealed up for FY 2019.  I worked all day New Year's Eve but got it done.

2. From the "something new" category -- this one makes me  SO happy: we bought a property about an hour away from home that is going to double-duty as a vacation rental and weekend retreat for my family. If I told you how many YEARS I've wanted to do this --- let's just say I was stuck in a fear-based cycle that I couldn't seem to break until last week but now that I have it FEELS SO GOOD! It also instantly increased our net worth about 40K since we negotiated a below-appraisal price on the place. For the next couple weeks I'll be putting it together, which feels so much more like play than work. I'm in love with real estate all over again! I still have work to do to get the cash flowing in coming months, but it's work that I'm looking forward to. I'll be posting updates here.

3. Something for others: I tried to tip generously in tipping situations that arose in the last week. I'm trying to generally be more aware and greet with gratitude all the many people who show up in my life to help. Yes, they're being paid, but there's also this genuine desire to help each other that I strive to be more aware of and grateful for in these interactions.
Title: Re: The 5 am Club
Post by: Sam on January 02, 2020, 03:41:01 AM
Happy 2020 everyone! Love that more folks are giving this a go.

Jan 2, 2020 log: 3 am awake. New very long post is out: https://www.financialsamurai.com/why-i-failed-at-early-retirement-a-love-story/

Will do some work until my boy wakes up around 7:30 am. Things still quiet as many people are away until Jan 6. But now is no better time to get things done.
Title: 2 January 2020
Post by: novarealtorMNM on January 02, 2020, 03:59:15 AM
Struggled to get out of bed until 5:15.

I was able to make an edit to my podcast (dropping hot tomorrow!) and continue working through the Rebus University listing agent course.
Title: Re: The 5 am Club
Post by: Field8 on January 02, 2020, 09:27:21 AM
Bombed this one and slept in.  Still got up relatively early (for being on holidays) and blogged. Off to buy cleats for winter running and sparkly stars to put on calendar when I get up on time.  Are we checking in every day? 
Title: Re: The 5 am Club
Post by: randomselection on January 02, 2020, 12:13:53 PM
I've been transitioning to an earlier schedule since seeing this group. I got up a few hours earlier than average and ended up having a really productive morning. Aimed to write one page and ended up getting through four. Once I start my new job I'll likely shift to the 5 am schedule so that I don't feel pressed in the mornings.

Cheers to a productive year and keeping each other accountable! Reading everyone's comments here provides a boost when I feel like slacking off or hitting snooze.
Title: Re: The 5 am Club
Post by: Sam on January 02, 2020, 03:55:56 PM
Quote from: Field8 on January 02, 2020, 09:27:21 AM
Bombed this one and slept in.  Still got up relatively early (for being on holidays) and blogged. Off to buy cleats for winter running and sparkly stars to put on calendar when I get up on time.  Are we checking in every day?

I think we should check in 2X- 3X a week on average and provide an update.

Only once a week makes it easy to slack. Everyday may be too much as life gets in the way.
Title: Re: The 5 am Club
Post by: JARoss01 on January 03, 2020, 06:39:11 AM
After failing om New Years day to wake up at 5 am, I have successfully accomplished changing my sleep pattern to awaken at 5am the last two days.  I have set my meditation routine and morning notes the past two days. I have successfully plotted my swing trades. Now looking for a way to find a property to flip.  Sam if you have any ideas on how I can be more successful in identifying real estate investment properties, please share with me.

Thanks James
Title: Re: The 5 am Club
Post by: Sam on January 03, 2020, 08:55:19 PM
Quote from: JARoss01 on January 03, 2020, 06:39:11 AM
After failing om New Years day to wake up at 5 am, I have successfully accomplished changing my sleep pattern to awaken at 5am the last two days.  I have set my meditation routine and morning notes the past two days. I have successfully plotted my swing trades. Now looking for a way to find a property to flip.  Sam if you have any ideas on how I can be more successful in identifying real estate investment properties, please share with me.

Thanks James

I like buying into a real estate fund or REIT with a great track record. Choosing individual projects without knowing the location and area inside and out is dicey.
Title: Today | 4 January 2019
Post by: novarealtorMNM on January 04, 2020, 03:56:37 AM
Woke up at 5 and:

- read my daily devotional from a Spurgeon book and St. Teresa of Avila prayer book
- Gratitude journal entry
- completed two hip hop beats I've been sitting on for a couple weeks
- Began my HARD THING FOR 2020: Learn Spanish - did 10 mins of Duolingo and 20mins on the duolingo podcast
- 20 min walk on the treadmill

Title: Re: The 5 am Club
Post by: newalker0407 on January 04, 2020, 06:19:47 PM
I like Sam's suggestion of checking in 2-3 times per week. It was pretty rough getting up at 5am quite a few times this week. :D That said, I was able to work on a Machine Learning and Data Analytics certification course I signed up for. I also started reading some great recommended material on how to write, publish and distribute a blog effectively.
Title: Re: The 5 am Club
Post by: J.R. on January 05, 2020, 05:15:38 AM
I haven't been perfect at getting up at 5am.  Nonetheless, it's gets easier and easier.  Even on a couple days where I opted not to get up at 5am, I still woke up without an alarm around 5:00.  So I'm clearly succeeding in changing my sleep patterns.

So here's an interesting (at least to me) observation.  I'm the type that likes to make a to-do list and then gets the satisfaction of checking those off the list.  So by getting up at 5:00 (or at least more often than not) I have achieved a feeling of "being caught up."

In the past, I always had too much to do.  I thought that's what it feels like if I want to get more done.  I've got work stuff, a long commute, rental properties, stock investing, all the family's personal finance, household maintenance items....the list never ends.  I suspect most people experience something similar.  Overloaded, a backlog of tasks, always having to prioritize what task to work on.

By getting up earlier I'm knocking out a lot of the tasks.  Personal finance stuff is caught up.  Work stuff is mostly caught up.  I've got a handle on the other to-do's.

The result: By feeling caught up, I can sit back and really start doing some thinking.  Really start thinking about what I'm doing, why I'm doing it and figure out what I want the future to look like.

I'm starting to believe getting up earlier has the potential to be so much more than just getting a few extra tasks done.

-JR
Title: Re: The 5 am Club
Post by: Sam on January 05, 2020, 09:49:35 AM
Quote from: J.R. on January 05, 2020, 05:15:38 AM
I haven't been perfect at getting up at 5am.  Nonetheless, it's gets easier and easier.  Even on a couple days where I opted not to get up at 5am, I still woke up without an alarm around 5:00.  So I'm clearly succeeding in changing my sleep patterns.

So here's an interesting (at least to me) observation.  I'm the type that likes to make a to-do list and then gets the satisfaction of checking those off the list.  So by getting up at 5:00 (or at least more often than not) I have achieved a feeling of "being caught up."

In the past, I always had too much to do.  I thought that's what it feels like if I want to get more done.  I've got work stuff, a long commute, rental properties, stock investing, all the family's personal finance, household maintenance items....the list never ends.  I suspect most people experience something similar.  Overloaded, a backlog of tasks, always having to prioritize what task to work on.

By getting up earlier I'm knocking out a lot of the tasks.  Personal finance stuff is caught up.  Work stuff is mostly caught up.  I've got a handle on the other to-do's.

The result: By feeling caught up, I can sit back and really start doing some thinking.  Really start thinking about what I'm doing, why I'm doing it and figure out what I want the future to look like.

I'm starting to believe getting up earlier has the potential to be so much more than just getting a few extra tasks done.

-JR

The feeling of "being caught up" is a great benefit of starting early. You can get so much done that you're never starting a race from way behind, which is what it feels like when you have a baby and toddlers to care for.
Title: Re: The 5 am Club
Post by: Austin on January 05, 2020, 10:40:08 AM
I got up 3/4 days by 5am for week #1. The day I missed was the New Year and didn't roll out of bed until about 7am.

So far with my morning time:

-I finished a bunch of accounting that I was putting off for a side business. My friend / accountant is reviewing my numbers to make sure everything adds up. If everything looks good I will be sending it off to the IRS.
-I bought a new domain name for a website I am going to build out this year
-Spent one of my mornings from 4am - 7am caring for one of my babies that had a rough night and she was finally sleeping by the time I had to head out to work
-I started my "52 Love Letters For My Wife" challenge because I realize that I haven't been the most romantic guy in the world and I want to keep the flame alive. I bought a pack of blank cards and envelopes and started writing notes on them. The plan is to hide a card with a special note on it once a week somewhere around the house where she will find it. She's received one card so far that I left at her bedside which explained that she will be getting 52 love notes this year and already I can tell our relationship has improved. She has been way more affectionate and in good spirits this week. She keeps excitedly asking on what day I'll hide the next card and I have been keeping it vague.

So far I've really enjoyed getting up early. I tend to waste the last two hours or so of my evenings watching shows, playing with my phone, etc because "I'm just too tired to do anything else." Now I just go to bed instead of waste time. So I gained two productive hours and eliminated two hours that never held any value.

I'm excited to see how much I've already gotten done after four days of the 5am challenge.
Title: Re: The 5 am Club
Post by: Sam on January 06, 2020, 05:12:08 AM
Nice job Austin!

Jan 6, 2020: this is the true start of the new year folks! Time to rock it!

Up at 4:15am. New post published on our new early retirement master plan: https://www.financialsamurai.com/just-say-no-to-angel-investing/
Title: Re: The 5 am Club
Post by: newalker0407 on January 08, 2020, 04:08:25 AM
Up at 5:05 am:
Title: Re: The 5 am Club
Post by: Sam on January 08, 2020, 07:55:34 AM
Did the night shift taking care of my baby: 9 pm - 8 am. Published a new post on mortgages and updated some old posts and pages.

Need to do research on sleep patterns during the day by those who do regular night shifts.
Title: Re: The 5 am Club
Post by: Koidragon on January 08, 2020, 09:08:24 AM
My 5 AM CLUB project is to develop a product/system that will consistently generate a passive income that is scalable. 
I have had this as a long term goal and every so often would go back to it, make some changes, and then it just sits there.  I decided that this was the right project for this forum. Steps taken to date:

1.  Review content/efforts compiled over last 5 years.
Wow!  Talk about spring cleaning! And stuff all over the place!  Looked like an internet hoarder's paradise :o

2.  Created and organized list of content/assets/resources etc.
Not perfect, but at least I got it going.

3.  Identified 3 Top 90-Day Priorities:
This was inspired by Louis Gerstner's "Who Says Elephants Can't Dance"  ... which I read this summer (it had been sitting on my bookshelf for many years).  In his case it was Top 5 90-Day Priorities. I do not have the equivalent of an IBM machine to put in play, everything will be done by me.

i.   Change site to blog-driven - done
ii.  Publish 1 blog/week  (get a head start so that I always have 10 blogs ready & scheduled for publishing)
- Work in progress
iii. Create lead magnet to post on site.
- list options for consideration

My biggest hurdle?  Overwhelm.  Sat down for what seemed like an hour of nothingness - then decided that I don't have to get it right, I just have to get it going.  I've been there before.  It worked before. I am confident that it will work again.
Title: Re: The 5 am Club
Post by: Sam on January 08, 2020, 09:27:53 AM
Koidragon - "I just have to get going" BINGO!
Title: Re: The 5 am Club
Post by: novarealtorMNM on January 08, 2020, 05:36:10 PM
8 January

5am wake ups have been going every day this week.
- Daily gratitude and morning devotion
- Working through Rebus University Certified Buyer Agent course
- Hip Hop beat cook up
- Coffee
Title: Re: The 5 am Club
Post by: Shannon on January 08, 2020, 07:10:53 PM
Hello 5 a.m.ers:

    The magic hour eluded me a few mornings this week, like today, when I darted out of bed at 4 a.m. with my phone buzzing from an Air BnB inquiry. I thought "I may as well get up," brewed some coffee, then promptly fell asleep! Nonetheless, I made it a few times and expect the habit will start to stick.  In any case, my commitment to post at least every Wednesday is keeping me accountable. Here's the summary:

1. Old business: I moved the funds from my oldest child's 529 account out of the stock market and into asset protection. This was overdue as she is a high school senior who will need the funds by fall.  We got lucky and road the wave up during the months when we really should have been outta there. Well, now it's where it belongs. I also listed an apartment for rent that needed to get on the market for some time but I had been distracted with other tasks. It's getting tons of calls and I expect to identify a  solid, rent-paying tenant within a week.

2. New business: We are moving right along with our new investment property and having fun in the process! We drained the swamp this week, i.e. the backyard swimming pool that was green with neglect. I love that pool. It helped us knock the sales price down, down, down and when it's all said and done, we'll get to swim :-)

3. Something for others: I volunteered to lead a committee and small fundraiser at my church. I had been sitting on my hands in the back hoping no one would call on me but someone finally did. I really do want to be of service, I was just reluctant to commit more time anywhere. Happily, Instead of feeling burdened, I feel glad that I am contributing more. I remember a respected former boss of mine saying: "Anyone can say 'no!' That's assertiveness 101. We want to figure out how to say 'yes'!" Indeed I do.
Title: Re: The 5 am Club
Post by: J.R. on January 09, 2020, 02:53:54 AM
Checking in....1/9/20.

Accountability: Slipped a little.  In the evenings, Wife and I have been watching a series on Prime called the Expanse.  Liking this a lot as wife and I are SciFi fans.  But, for example, last night I was "going" to bed at 10 instead of being in bed at 10.  Hit the snooze twice this morning instead of jumping up at 5am.  Actually enjoying this time with the wife, so not all bad.

Other things getting done:

Next up: dealing with a major problem at one of the rentals.

Title: Re: The 5 am Club
Post by: newalker0407 on January 11, 2020, 05:34:53 AM
Title: Re: The 5 am Club
Post by: JARoss01 on January 11, 2020, 11:53:19 AM
Only was able to make it two days this week due to a myriad of late night activities at work.  But starting again on Sunday bright an early at 5am.  I am completing a master manifestation course and continuing to plan my trading day prior to the opening of the markets.  My thoughts are clearer and my days run smoother.  I am still seeking a good system to identify flip properties in my area.  Sam, I appreciate your advice for using REIT's on my previous question.  I am already using Fundrise  but also want to identify flip properties in Northern Va and a good system to use for this.  These are the three areas I focus on during my time from 5 am -7 am.

Thanks Team....James
Title: Re: The 5 am Club
Post by: Sam on January 13, 2020, 05:26:02 AM
SAHM #1! Anybody who can care for someone 24/7 for years and wake up every 1-3 hours to feed and pump for months is a hero. I only do two 8 pm - 8 am shifts a week besides regular day car and am delirious and useless. Cannot think or write anything at the moment... ZzZzZzz

I'm falling behind on my posting schedule, but I'm not falling behind on how much I'm writing. Weekends are always tough for us because both kids are home. Will catch up once I take my son to preschool. Let's go!
Title: Re: The 5 am Club
Post by: J.R. on January 13, 2020, 10:29:25 AM
Quote from: Sam on January 13, 2020, 05:26:02 AM
SAHM #1! Anybody who can care for someone 24/7 for years and wake up every 1-3 hours to feed and pump for months is a hero. I only do two 8 pm - 8 am shifts a week besides regular day car and am delirious and useless. Cannot think or write anything at the moment... ZzZzZzz

I'm falling behind on my posting schedule, but I'm not falling behind on how much I'm writing. Weekends are always tough for us because both kids are home. Will catch up once I take my son to preschool. Let's go!

Keep doing what you're doing, Sam.  It's so cliche but the time will get away from you.  My oldest is 17 now and has started driving.  I used to enjoy the time with the kids in the morning driving them to school.  Now daughter drives all three of them to school.  What just happened here? 

Power through the sleepless nights.  You'll wake up in a few years and say: "What just happened here?"

I've been told that time accelerates as you get older.....and the kids get older.  I am feeling it now and am understanding what others were saying.  Hard to articulate in words.  Time is accelerating.  Perhaps that's why I feel even more strongly to go harder and faster....trying to keep up with time.

I didn't think of it this way but our 5am club is helping.  Originally I was thinking I wanted to be more effective.  But it's also helping in the evenings.  That feeling of being caught up allows me to spend more time in the evenings with wife and kids.  Previously I felt guilty for not being productive in the evenings when I knew there was a backlog of stuff that needed done.  Now I know the stuff is done and I can focus more time on them without nagging feelings in my head.

I hope we keep this thing going.
-JR



Title: Re: The 5 am Club
Post by: Sam on January 13, 2020, 10:52:28 AM
Thanks for the perspective JR! We definitely going to make the most of our time, especially now that we are getting more of it waking up so early  ;D
Title: Re: The 5 am Club
Post by: Austin on January 14, 2020, 04:48:56 AM
Week #2 Update

I bombed getting up by 5am this week until my daughter got sick.

I found out my 2 year old daughter has asthma. It was scary watching her unable to ever catch her breath. Went to the doctor, got a nebulizer and was instructed to give her treatments every 4 hours until an appointment that happened last Monday.

I learned that I can get up early if I really want to. Earlier in the week I was not getting out of bed by 5am. After I learned my daughter was sick I had no problem getting out of bed to give her treatments, which, by coincidence, fell on 5am. There was no struggle, no thinking about setting the alarm for 6am instead. As soon as the 5am alarm went off I practically leaped out of bed to make sure my daughter gets her medicine.

I am now trying to channel that same sense of urgency towards my 5am projects. Because I know on a logical level I should have that same urgency. Things are going to happen to my family in the future, and taking care of business now is how I protect them.

Anyway - this week I finished two articles for my new website that hasn't launched yet. I also did some technical work on the website and am starting to get the design in place.

And FYI - thanks for everybody that has been sharing. I've enjoyed reading everybody else's progress!
Title: Re: The 5 am Club
Post by: Sam on January 14, 2020, 07:22:02 AM
Did the 9pm - 7:30am shift so far. Tough.. but edited a couple posts for publication this week and preparing newsletter.

Irony of doing the graveyard is that it's unnatural, therefore, I get more work done.

Good insights Austin about springing to action b/c of your daughter.

I have asthma too. See this for some help: https://www.financialsamurai.com/how-to-treat-asthma-allergies-and-copd-as-an-adult/

Nothing is more motivating than our children.

Any other stay at home dads out here who are also the sole income provider? If so, curious how you guys do it. I feel bad wanting to go back to work to take a break from full-time fatherhood after 6 months, but it is hard work and most men I know go back to work within 1-3 months.
Title: Re: The 5 am Club
Post by: J.R. on January 14, 2020, 10:13:00 AM
Quote from: Austin on January 14, 2020, 04:48:56 AM

I found out my 2 year old daughter has asthma. It was scary watching her unable to ever catch her breath. Went to the doctor, got a nebulizer and was instructed to give her treatments every 4 hours until an appointment that happened last Monday.
...
Things are going to happen to my family in the future, and taking care of business now is how I protect them.

Austin, keep the faith, brother.  Been there.  I know that scared feeling for your kid.  You'll be surprised at the resilience of the kid.  Everyone will come through ok.

When you think about it, modern medicine is really quite remarkable.  Just my opinion but I think we are headed into the real golden age of medicine.  Prediction: Cancer and many other things are cured in our lifetime.  I'm trying to cultivate that positive abundance mindset.

I read this book a couple years ago.  Think I may reread it this year.
Abundance : The Future Is Better Than You Think
https://www.amazon.com/Peter-H-Diamandis-Abundance-Paperback/dp/B01FOD4HLK

I'm also trying to use the 5am time to plan, think, act on projects that will ensure my family's security for the next generation.  I'm also starting to think about legacy....beyond the next generation  This gets tricky.  How do you provide security and a safety backstop without taking away the benefits of hardwork and struggle?

Good luck,
JR

Title: Re: The 5 am Club
Post by: J.R. on January 16, 2020, 02:48:19 AM
Checking in....1/16/20.

Accountability:  Continues to get easier rolling out of bed at 5:00.  Actually waking up without the alarm a little before.  Getting up between 6:00 and 7:00 on the weekends.  I'm actually having a harder time getting in to bed at 10 than I thought I would.  Means I feel tired at 5am.

Progress:

Next up:



Title: Re: The 5 am Club
Post by: novarealtorMNM on January 17, 2020, 02:27:11 AM
Checking in: 01/17/2020

- podcast editing and blog writing
- running comps for an open house this Sunday
- scheduling showings for rentals tomorrow
- Spanish practice
- gratitude journaling
Title: Re: The 5 am Club
Post by: Sam on January 17, 2020, 06:47:37 PM
Checking in 1/17/2020: SICK AGAIN! Got a chest cold from my son who is in preschool. So many colds in preschool.

Missed post day today, Friday, but will make it up on Saturday 1/18. Publishing 3X a week is publishing 3X a week!
Title: Re: The 5 am Club
Post by: newalker0407 on January 19, 2020, 04:40:57 AM
1/19/2020 Update:

Title: 01 / 21/ 2020 - The 5 am Club
Post by: novarealtorMNM on January 21, 2020, 02:59:27 AM
All cylinders have been overheating for the last week. Yesterday was family day so I spent my 5-7am with my wife. I realized that I have to be as committed to my family with not only the same time-blocking rigidity, but with the same passion and energy. So Mondays are my rest/family day.

Today, 5-7am is learning and researching for a listing presentation at 5:30pm.
Title: Re: The 5 am Club
Post by: Shannon on January 22, 2020, 06:42:45 AM
Count me among those dealing with a sick child this past week.  We're generally out of kilter here, but managed to make a little progress on the financial front:

Old biz: Moved some of the kids' college money out of a self-directed CESA (we failed as money managers) into their 529s which have a much better performance record. Also, finally put an apartment on the market after dawdling for a bit.  I was absolutely slammed with well-qualified applicants. Probably could have raised the rent but I prefer to have my choice of enthusiastic applicants rather than try to bleed every last dollar out of a tenant who grumbles about everything because they're paying too much. After more than 20 years of landlording in which I've collected close to 100% of the money owed me and only had to undertake 1 eviction, I'm sticking with what works!

New biz: Opened a new IRA. Trying to discipline myself to invest more outside of real estate. Also spent some time working on our latest real estate acquisition. It's not yet rent-ready, but we've owned it less than a month so from that standpoint we've made excellent progress.

Something for others:  Moving right along with the church fundraiser. It's led by the children of our congregation. The idea is that they will pick an outside organization to whom half of the money will be given. It's been interesting to talk about how to do this in a way that feels "fair" to the children. There needs to be a consensus, otherwise we dilute the power of having done this as a group. But a straight-up vote is biased towards the views of the older, more outspoken kids. I'll let you know what we come up with when the campaign ends in February!
Title: Re: The 5 am Club
Post by: Koidragon on January 23, 2020, 09:15:23 AM
Accountability checkin ...

1. Don't know what happened between Jan 08 and today ... seems like the new year is testing me already!  To begin with got hit with whatever the bug of the year is, whole week of bed to couch, liquids (lots of hot tea and brandy) and finally, was able to have some good ol chicken soup and recovery picked up speed.   

2. 5.00 a.m. job one was to get some blogs finished.  Thought this would be a snap.  Had several unfinished drafts from before.  But suddenly what I thought would be as easy as 1, 2, 3 wasn't.  My job one objective was to write/publish 8 - 12 pillar posts, each leading to the next in a sequential manner.  Hah!  Those unfinished drafts were all over the place!  Nothing sequential about them.  So much for that 1, 2, 3!

3. Today finally back on pace both in terms of crushing that bug, clear headedness and tada!  First pillar blog done!  Not published yet - in the bag! 

Next to do: 
1.  Pillar blog #2
2.  final edit of book of which I am co-author.
Title: Re: The 5 am Club
Post by: JARoss01 on January 25, 2020, 09:14:51 AM
Got up at 5 am 3 times this week...with my goals remaining trading, real estate and self development.  I am making progress in all three area.  I have also added job search to my morning activities.   I am still trying to find the right sleep rhythm to wake up 5 days a week at 5am.  I am still happy I've decided to go down this road with Sam.

Have A Great Weekend !!!
Title: Re: The 5 am Club
Post by: J.R. on January 26, 2020, 07:37:46 AM
Checking in 1/26/20:

Was travelling for work this past week.  Slept awful in hotels.  Still got up at 5:00 everyday.  But man I felt exhausted by end of the week.  Slept in until almost 7:00 Saturday & Sunday.  I usually sleep right around 7 hours naturally.  The past two nights I was well over 8 hours.  Feel better now. 

Finally seem to have the insurance stuff wrapped up.  Stayed with same agent but changed carriers for auto, homeowners and umbrella.  Changed carriers, policy types, limits, deductibles, added a vehicle, added a driver.  Hard to tell with so many changes, but overall I think we saved several hundred dollars from where we would have been.  This has been dragging out for some time so I'm happy it's complete.

Read another book.  Had some extra time while on the road this past week.  Crazy Busy by Kevin Deyoung.  I wasn't planning on reading this but a friend gave it to me and followed up to ask if I read it.  I actually liked it better than I expected.  It's written by a Christian pastor in case that's not your cup of tea.

Worked with my Property Manager to get a major plumbing problem fixed at the one rental.  This property is plagued by plumbing issues.  Haven't heard yet if the tenants are in good shape with the latest repair.  Fingers crossed for now.  There is still another lurking problem there.  But trying to let rental income build up to have funds to repair.

Last day of the workweek, I actually wasn't working but rather interviewing with a new company.  Pretty sure the job is mine if I want it.  Interesting work doing the parts of my job now that I actually enjoy.  Seems like a good group of people.  And also comes with a strong probability of a PE exit strategy that would solidify FIRE by age 50.  Potentially even fatFIRE by 50.  But the job is a 4hr drive from home.  And the family isn't much interested in relocating (kids in high school).  Would you take a job where you were on the road A LOT....or at least 4hrs from home during the week and only come home on the weekends?  Keeping in mind it's potentially temporary for maybe 5 years?  I'm leaning towards thinking the toll being just too great on the family.  But it's difficult as I think these types of opportunities don't come along that often.

That's all for this week.  Carry on 5am'ers.
-JR


Title: Re: The 5 am Club
Post by: Sam on January 27, 2020, 03:36:27 AM
I currently have been up for 23 hours in a row working and taking care of my baby daughter. Tried to take a nap, but couldn't after hearing the Kobe news. Decided to just adopt the Mama mentality. So sad. I'm on night shift Sunday night and Monday night anyway and will try and catch up on sleep later.

If my daughter can't sleep, then neither should I. Feels good to let me wife sleep as well.

Cherish your family everyone!
Title: Re: The 5 am Club
Post by: newalker0407 on February 02, 2020, 04:22:27 AM
Checking in on 2/2/2020:
Reading about the progress everyone has made has been extremely gratifying. Thanks for the inspiration and let's all keep pushing forward!
Title: Re: The 5 am Club
Post by: J.R. on February 03, 2020, 02:49:48 AM
Checking in:  2/3/20

Spent last week getting tax stuff organized.  I work with a CPA to prepare the returns.  But I need to spend time getting things organized.  Especially with the real estate investing I started in 2019.  I don't think I've ever had all my stuff organized this early before.

Again, I have this feeling of being caught up.  Which I like.  But I have to say, organizing tax records doesn't do much to move my life forward.

Starting to read another book:  The One Thing by Gary Keller.  I read this a couple years ago but decided to read again.

Onward.
-JR
Title: Re: The 5 am Club
Post by: Sam on February 05, 2020, 06:00:31 AM
Checking in 2/5/2020

Been regularly waking up at 5 am or earlier for 5 out of the past 7 days. Fighting a cold still, bummer.

Wrote about:

* The Best States to Buy Real Estate (https://www.financialsamurai.com/for-the-best-mortgage-rate-refinance-before-these-three-life-events/) - This post took a lot out of me because I had to come up with the framework and create new charts. Makes me wonder whether it's worth coming up with things instead of just copying or commenting on things.

* What Investors Should Know About The Coronavirus (https://www.financialsamurai.com/important-details-investors-should-know-about-the-coronavirus/) - Another long and exhaustive post due to the research involved. But very topical, and very improtant!

It's hard for me to sleep in nowadays because Tesla stock is just going bonkers. We talk about Tesla and other ideas in another thread. So many money making opportunities out there! https://www.financialsamurai.com/forums/stocks-and-index-funds/my-friend-bought-a-new-tesla-model-3-i-bought-tesla-stock/

Sam
Title: Re: The 5 am Club
Post by: JARoss01 on February 08, 2020, 10:31:14 AM
Still on the 5 am plan...waking up sporadically at 5am...this week I woke up at 5am 3 times.  I stayed up 2 times...still working on getting to 5 days a week.  I am having a lot of success with my work toward my goal during this time. I feel way more productive when I get up and take care of business before starting my professional work day.  Still love the idea and hope to be more consistent.
Title: Re: The 5 am Club
Post by: J.R. on February 09, 2020, 05:13:18 AM
Checking in:  2/9/20

Doing well getting up at 5am during the week.  Tend to sleep in until 6am or 6:30 on the weekends.  Things seem to be ok.  Not a lot to report.  Feels like I need to identify the next items to work on to move forward.  Been working on taxes, insurance, rental house plumbing issue and (new) rental house dryer failing...I've been neglecting my investing.  Also, need to get back to helping with the oldest kids college planning.  Need to plan how to organize around scholarship strategy.

Onward.


Title: Re: The 5 am Club
Post by: Shannon on February 12, 2020, 04:30:18 AM
Good Morning:

    Dealing with some of life's curve balls in recent weeks, but still got in some early days and made progress on the financial front:

old biz:  cleaning up some accounts and updating everything in the fin mgmt software (a tedious but ultimately satisfying task), paid off a credit card, finally consolidated the kids' college investment accounts.

new biz: completed the FAFSA for my college-bound child, sent my biz tax file to the CPA, funded my new IRA a tiny bit, made a little progress on the new vacation rental property, though haven't been there as much as I wanted due to aforementioned curve balls. I'm focusing on building my team of helpers for the new property. Since it's away from home that means new people. I think I've identified a few this week. That's going to be the key to making this work.

something for others: wrapping up our little fundraiser next week. The kids group voted and chose "world peace" as the recipient of half the funds. These kids are not bogged down with manageable goals and objectives, they're just going straight for the ultimate prize! I'm not about to dissuade them :-)
Title: Re: The 5 am Club
Post by: J.R. on February 17, 2020, 02:50:53 AM
Checking in:  2/17/20

Plugging along here.  Getting up at 5am on the weekdays and sleeping a little longer on the weekends.  This seems to be a sustainable schedule for me.

Several items felt like they are more or less wrapped up.  Still evaluating a potential new job.  Leaning towards a negative response there as it would have me on the road and away from the family for most of the week, only coming home on weekends.  Don't think I want that at this time in my life.  Tough decision as it would come with "life changing" money that within 5 years would push us to FIRE and have all the kids college covered.  Sam had a recent article on sacrificing love for money.  This situation, to me, is a relevant tangent.

Hope you all are well.


Title: Re: The 5 am Club
Post by: jm4304 on March 20, 2020, 04:22:23 AM
Hello everyone,

I hope you're all staying safe and healthy.  I know I'm a little late joining this club in 2020, but I love the idea of using 5 am - 7 am to be productive outside my normal work/daily life schedule. 

I've always more or less been an early riser although my wife is more of a night owl, so that will make things interesting.  Fortunately, in my corporate job, I have the flexibility to work from home a few days a week (before the COVID-19 indefinite work from home), however, when I do go to the office I have a long commute.  So I may need to flex my 5 am productivity schedule, but I'll still aim to be up at 5 am every day during the week.

I'd like to use this time to:
Work on developing a side business/income and general career planning/development
Journaling
Reading (educational)


In the past whenever I've gotten up early I've generally used that time to work out, which I like doing, but I want to experiment with using this time where I'm relatively free from distractions to prioritize activities that hopefully will lead to FIRE.  I'll need to make sure I stay disciplined to 1) prioritize exercise in the afternoon and 2) not just use this time at 5 am to do more work for my day job.

Thanks for setting up this group and I'm looking forward to getting started!

Title: Re: The 5 am Club
Post by: Sam on May 03, 2020, 08:31:52 AM
What's up everyone! Hope all is well.

It's week 7 of the quarantine here in SF and everyone is going a little stir crazy. Our mayor says badminton and ping pong are alloweed, by tennis is not! ha. I'm so impressed with the power grab and power trip this year by our politicians.

Anyhoo, I've been failing 40% of the time waking up by 5am as schedules have shifted. But, I have not quit on publishing 3X a week and recording a podcast every 3 weeks or so. Newsletter goes out once a week too. Just timing has shifted.

Just need to exercise more!

Cheers
Title: Re: The 5 am Club
Post by: newalker0407 on August 16, 2020, 04:50:09 AM
Good morning Sam!

It's been awhile but wanted to check in with the 5 am Club:


Thanks for the inspiration and let's all keep pushing forward!

-NW