Let's say that you had the ability to earn $10,000 per month passively. Your income was a 100% guarantee. Let's assume that your expenses are lower than $10,000 per month.
What would you do with your time? Money is no issue. You no longer have to work and now you just get to do whatever you feel like doing.
This is an interesting thought experiment that I saw on Twitter. I think there is a lot of value in running yourself through this. Whether or not you have the ability to earn $10k per month or will ever have it in the future, the ideas you'll get from thinking about this may prove invaluable.
$10k Per Month
We're in the crypto industry. With things like Bitcoin, HIVE, LEO that offer massive asymmetric upside, there is no telling where your life can go.
Using Web3 means that you're layering even more opportunities on top. I know several people personally that have completely changed their life thanks to crypto. Earning $10k per month passively would've seemed like an absolute dream to them. Then they got into crypto, made a bag and learned how to lend out their money and deploy it to earn interest in various ways.
HBD savings now offer 20% APR. This means that chasing after passive income is 10x easer for anyone who is an experienced Hiver. It's as easy as making money, converting to HBD and saving it in your Hive account.
Hive has always been the Blockchain of Opportunities. Actually, if you go back in time, I wrote a post about this.
Hive is the ultimate place to earn income on Web3. That's not the topic of this post, but it feels important to talk about. A lot of people will hit a question like this and say "yeah cool, but I'll never have the ability to make that kind of money every month". Crazier things have happened, frens.
What Would You Do With $10k Per Month Passive Income?
One of my favorite parts of this Tweet was actually reading other peoples' responses.
People have a lot of aspirations. They have things that they want to do in life but feel hampered because they have to work their 9-5 and pay their bills.
I find it interesting that people have so many cool aspirations. You may never think it, but a local grocery store bagger might have dreams of flying to Japan to meditate, eat ramen and enjoy a good life of adventure.
We often limit ourselves.
Limiting Beliefs
Limiting beliefs drive much of life. Sometimes they're good - maybe you look off the side of a cliff and tell yourself its too steep to jump. That limit might save your life.
But we often take this limiting belief into things where we shouldn't. A lot of people will sit around and say that $10k per month isn't feasible. Thus, there is no point in even thinking about it.
Instead, think about it. What would you do if money no longer mattered? If all of your expenses were covered by a magical check in the mail every single month.
All things paid, no worries. Do whatever you are passionate about.
Following this exercise might teach you more about yourself than you think.
What I Would Do
I'm blessed to be in a special situation in life. I worked hard, I saved money into Bitcoin for the past 7 years. I got into Ethereum early. I've been obsessed with projects like Hive and RUNE for years as well.
I love trading and I tend to be pretty decent at it. I invest in projects that I understand deeply and create a long-term belief about them.
All of this has allowed me to be in a position that is not unlike this question. I don't have to work for my bills to get paid.
Instead - for the past several years - I've been able to build things that I enjoy building.
I wake up and spend my day grinding. I build the LeoVerse. I still trade and invest. I read a lot of books. I write a lot.
These are the things that I know I would do if money was no object. If I knew that the magical check was coming in the mail every month.
Guess what? That magical check does come. I do get to do these things. I know that this puts me in a very small group of people, but I'd like to believe that I have done something with my life in getting myself to this point.
If I could go back in time and dream of what I wanted to be and do in life if money was no object it would be to:
- Take care of my health - workout, eat well, etc.
- Take care of friends and family
- Build something I'm proud of that contributes to an abundant future - the LeoVerse
- Read
- Write
- Travel
I get to do all of these things. I live the life that I dreamed of when I was younger. It wasn't an easy nor straight path to get here and things aren't always perfect and sunshien and rainbows.
BUT... I wouldn't trade any of this for the world. I love what I do each day when I wake up. I spend my time dreaming up new features, engaging with my friends on Threads, investing, reading, writing, building cool technology and designing tomorrow.
What Would You Do?
Leave a comment below. I'm really curious. We all have a unique story in life and I had a ton of fun reading other peoples' answers on this Twitter Thread. I would love to hear from Hivers and LeoFinancers about what they would do in a position like this.
It's amazing to get to build and do what you love each day.
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When you get to my age, it's actually easier to answer that question.
I work out most of the week and have done so since my late 40's and I'm an OTF fanatic, so my wife and I would visit more OTF's worldwide.
Travel would be at the forefront of what I would do as I know that is what my wife would agree with me.
Outside of that, I would spend more time on HIVE and the dApps and continue learning - and growing in every sense of the word.
I would probably travel to Kenya make a dream como true, join a training camp at Iten and just enjoy high altitude training with very long roads to run
I would say: Helping my family, some friends, NGOs, traveling the world and starting my own business.
Will use some and will donate some inshaAllah 🤗😇
Great plan!
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Thank you for appreciation 🥰
The first thing I would do with that guaranteed income is saving up to move to another country, buy a house with lots of space so my partner would have a very nice workshop for his hobbies. He would spend all day on working with wood, creating everything you could ever dream off. We would have a big garden for growing fruits and veggies, and a separate garden for the dogs. I would take in dogs that are difficult to place and give them a good life, and go out for photography and paint a lot.
Of course I would also spend a lot of time on hive, that wouldn't change.
I would probably help other people or animals.
That’s awesome and selfless
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10k per month, will surely help me in buying a house.
Invest a percentage in HBD, hive, bitcoin to name few.
Donate a few and share with friends.
Ooo nice! Get a nice house and keep investing
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I would honestly want to help people reach finical freedom without having to charge. I would also need help at the same time from others to help find meaning in my life. I don't know what I would do, but that is a problem to solve later
I would buy a bunch of cars over the years. I love cars... Would put some cash in BTC, HIVE, and LEO every month (something I'm not able to do now, unfortunately :(... I would travel more, financially help some random poor people constantly, make sure that my parents would not worry regarding personal finances for the rest of their lives, and adopt a bunch of kids and dogs. Passive income is what I am after for the next bear market. The past one grew me a lot of grey hair...
If I have that money coming in every month, I'll first make sure that my family are taken care of in financial terms then I will travel the world and sit with knowledgable and philosophical people so that I can study the nature and mysteries of the universe.
Some backstory first - A year and a half ago when the price of Splinterland assets shot through the roof, I decided to sell everything I had held for years. My goal was to take some of that money as well as some Hive and trading profits and invest in an apartment so I would stop paying rent. I did that but quickly realised that instead of living there I could rent it out and offset my own rent.
Which brings me to the question, what would I do with $10,000 passive income?
I would replicate the same model with the passive income purchasing a series of bedsitters, 1 and 2 bedroom apartments in high demand areas.
From that income, I would pivot to stand alone houses.
Finally, combine all that income to buy land and build my own sustainable gated development which has always been a longstanding dream of mine.
$10k/month... Well, the first thing is to loan an apartment with good wifi or live in a hotel if I'm traveling. I can't buy a house or apartment if it says, "No invest... real estate included".
Finish more than 1 college and strategize my money savings, I think 🤔. $10k / month is quite a lot for me now but it's too small for my dreams too 🤣. My dreams that will never happen for now: "No money problem with traveling to some places to taste their foods. Glory to the chefs."
*Smack to reality and back to work.
If there's no requirement, I'll split it to 30/10/60 -> 30% for living expenses / 10% for fun / 60% for re-investment (Increase the passive income). At least until I can cover my travel and gluttony expenses not just for myself but for everyone around me 🤗
It's time to work more to make that dreams come true 💪
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I would spend a lot more time in the garden and at the sawmill. So many projects would get done, (new barn doors, new barn siding, greenhouse, saw shed, outdoor kitchen / pavilion, full kitchen remodel) the list goes on and on. I'm pretty sure I would be just a busy as I am now just with a different focus.
The real question is would I sell my business? At my age it is a real possibility with that kind of steady income. Definitely a nice thought experiment...
I'd Sort out all of my immidiate family, get everyone out of rented accomidation, then probably buy a farm or something.
Although it's less than 10k, I do have a secure passive monthly income.....it's enough to pay all my bills (utilities, food, property taxes, etc), and leave me with a little to invest, save, and spend each month.
So, what do I do with my time? I'm on-grid homesteading, so my daylight hours are split between doing things like tending the greenhouse, working firewood, general property maintenance, and profitable hobbies like metalcasting, smithy and shop work. My evenings and nights are typically pure leisure time, be it streaming, gaming, improving my backwoods gourmet cooking skills, or whatever.
For the most part, I do what I want, when I want.....and yet I'm still driven by the need to feel productive.
Doing the things that I love like travelling and looking for new unfound products that would be a hit. $10k is not that far off for some of us if we just keep on grinding away.
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Exactly, sometimes the end goal seems daunting but little steps consistently can get you there
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Not worried about getting there as I know that will be a definite.
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I'll take a course in football management and chase a career in sports management
Whatever money I make is not for me alone. I have people who depend on me, family, friends and others too.
Take care of my parents and build them a comfortable place to stay.
My covenant of praise family will also get a part of the money.
Acquire some plots of land which has always been my dream and probably develop them.
Travel
Engage more in gardening.
Read more and write too.
HBD savings.
Invest in some crypto too
Funny I was going to write about this today before I went on a tangent and started a rant. This would make for a nice challenge where people can speak extensively and talk about what they would do when they make it or what makes it looks like to them.
For me, $10K is enough to sustain my life and that of my family for a year. I guess making that much would mean I don't have to worry about money, so I can focus on creating the type of content I want. I am interested in travel and videography, so it is definitely at the top of my list of things to do.
I also want to compile my poems into a book. having that type of revenue coming in monthly will allow me to do that conveniently whilst travelling and vlogging for a year.
I have some community projects like hive naija will like to invest in. There are so many things I would be able to do i.e. start an online radio show; a weekly newsletter; monthly hangouts for hive/hive-naija.
My last most important deed was to buy a hectare of land to build a house, library, and farm, to live the rest of my life in gratitude whilst writing my opinion pieces. This is what $10k will do for me in a year.
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I do not really like to speculate, but with 10k$ I'm buying HBD and keeping the 20%, then using the 20% to build a revenue which I can use to start up real-time business. I love owning a school and fully going into videography, travel to places my health can carry and never have to do worry about anything again.
Probably I would live a more tranquil life and wouldn't stress so much like I do at my current job, even if I am good at it. I simply want to do things that are pleasant and which also provide an income and crypto is that for me.
Would love to be in your shows and start building something. I've tried doing that with my brother which is a developer, but he doesn't have time to get it to lift of. The alternative is to start building by employing somebody even if it is on a project base. At the moment I don't have the financial comfort to do that, but I am slowly building towards that.
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Nothing would really change, except I would have 40 hours a week to pursue my passions. Photography, and art mainly.
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I would focus on my health even more than I have now. I am seeing such good results so far. Feeling better.
Then I would want to help other find their way to the same passive income.
Fun to think about.
Dedicate time to traveling a bit... be a bit of a nomad for a while...
It sounds like you're living the life. Like you, I'd spend a lot of time writing about the things I want to write about, traveling, and taking care of my friends and family.
For me it's easy, buy a plot of land and develop it myself and work it. Good back to the roots of connecting with earth and living the more simple life and just enjoy the moments. I feel like its a lost art and meaning.
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I don't understand why ppl think $10 K is a lot. It is Not.
I could probably to name a few dozens various (different !) ways to spend 10K/month. For each of them.
Even $50K would be not enough.
OK, you say no invest, no trade, no gamble? Fine
No crypto, stocks, real estate? FINE
No estate rent, no fancy cars/yachts? Fine
One of the first options could be - build a ham-radio SUPERSTATION, somwhere on the mountain top in Canaries or Cape Verde, and win #1 in world wide contests. Always. That is - year after year. Not, not forever, maybe 3-5 years would be enough.
That damn thing alone would require $4-5M on the first year, just to build. Or keep building it for 3-4 years. No maintenance included.
I know the feeling, when you push your foot-switch, and know you are the NUMBER ONE SIGNAL from your continent. And can RUN those QSO's at the rates your close competitors can only dream of.
The name of the game is RADIOSPORTS.
Probably the biggest arm-race game I can think of (and have ever tried)
For those who have no idea what Im talking about - this maybe a small example of possible goal. Just bigger, and more capable:
I would literally use it to power up and distribute tokens through curation. It's not 100% altruistic because I believe curation is the only way for whales to protect their investments. All boats rise kind of thing.
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I also believe in family and friends in all I do
I’d find a solid curriculum and homeschool my kids first and foremost.
I would travel and invest.