Why I Will Quit My Job for a Passive Income

written by   Pat Flynn
on  October 17, 2008
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Comments

  1. Caleb Nelson says

    I was talking to my mom about retirement. She’s really far behind considering when she wants to retire. I posed her the question:
    Would she rather save $700,000, or would she rather find ways to generate $3-4,000/month. I think that when you think about your retirement it is allot more valuable to think in passive rather then sum. Besides, passive income continues to build long after your gone. Look at Sam Walton.

    Caleb
    http://www.mefinanciallyfree.blogspot.com

    • Jason Love says

      I think what your have talked to your mom about can hold true for most people who are in the business owner, self employed, or maybe even the self-employed quadrant from Robert Kiyosaki’s book “Rich Dad’s CASHFLOW Quadrant”.

      I know I personally have been trying to earn a passive income in a way that allows me to express myself creatively and have an impact on others. That is why I am really getting into Pat’s media outlets and have decided to go through his archive of posts.

      Jason Love
      http://www.jasonloveslife.com

    • Victoria says

      That’s a great way in looking at it. Most people would opt for the large sum- never thinking twice about the potential in the passive income.

  2. Pat says

    @ Caleb,

    I agree. Especially today, when so many people have lost almost half of their retirement accounts, earning a passive income using their experience and wisdom in life could be the key to living a pleasurable retirement.

    By the way, I’ll be reading your blog, I enjoy what you have to say.

  4. HallyZ. says

    Well, I’m writing to you from one of my passive income sources right now- my financial blog. I earn a little bit of cash from that, some residual income from my published articles, and a little bit of dividend from my stocks. I think that, at this point, what’s keeping me from generating even more passive income is my job. I’ve a few good ideas for e-books, for example, but I do way too much freelance writing, blogging, and article publishing to stretch my time any further. So, it’s my job that must now be put on the chopping block, so to speak. I don’t want to entirely quit at the moment, but I do want to cut down my hours. I’ll see how that works out very soon. Thanks for keeping up this great blog!

  5. Azad Shaikh says

    So this is your first post. Liked it. Now i am thinking of dropping out of college. My semester exam are starting from next week and i am still not started my preparation. I do not like going to college any more. i love to work with wordpress and php.

    Azad Shaikh
    http://www.internetgeeks.org

  6. David says

    Its a shift in how you get paid. Either you get paid based on the hours you contribute, or you get paid based on the VALUE you provide. I like the latter since it makes more sense.

  7. Ms. Freeman says

    I’m not sure why I didn’t go on the hunt for this post when I first found your blog a couple of months ago. But, the more I read your blog the more I am coming to the realization that passive income is the golden ring-so to speak. Although I enjoy working for myself when I am completing service requests for my concierge business, in the end it is still a manual job and it is wearing me out.

    The new year is still fresh so time for a change in my game plan. Still keeping the concierge business going, but now my focus is more geared towards the dreaded “making money online” goal.

    UGH..I am glad I figured it out early on in the year. LOL 🙂

  9. Dustin Stevens-Baier says

    Passive Income is definitely a big goal of mine. Its interesting to read this article knowing some of how it worked out for you. Hope you don’t mind me going through the archives to see the journey from the beginning.

  10. Christina (@CashCampfire) says

    That’s an interesting way to compare a 9 to 5 job with online income. If you consider it this way, making a living online is the absolutely best option available.

    Like Dustin, I’ve decided to go through your archives and read about your journey from the very beginning. I’m unemployed, and I’ve decided a few months ago that I wanted to make a living online rather than work at a 9 to 5 job. For several months, I’ve been struggling to do so. Like you, I created a blog (Cash Campfire) to record my successes and failures during my online journey. My blog is also a way to help my readers through certain tasks I’m struggling with.

    I hope that, by emulating your progress, I’ll also make a decent online income in the months ahead.

  11. Aidil says

    Like Christina and Dustin, I too am scouring your archives. Thanks Pat for the podcasts and the website. I’ve not done anything substantial yet to earn me passive income, but armed with your experience and knowledge imparted, I shall brave the rough but rewarding seas 🙂

  13. Cameron Hacault says

    Great post. I’ve been reading your blog (sporadically) for awhile and am finally going through all your posts (from 2008 till now). It’s great to see that someone is genuine, honest AND successful.

    Keep up the awesome and inspiring work 🙂

  14. Vanson Tan says

    Happened to stumble upon this blog, which totally rocks! I was on my way to financial freedom and you really motivate me to move on. Right now I encountered obstacles, guess I’ll continue to read to seek my answers!

    Keep moving!

  15. Pete says

    I am at that time when I am considering leaving my full-time employment and concentrating on Internet marketing. I enjoy reading your blog and I appreciate your frank and honest views.

    Boy, it will be good to get rid of that 9-to-5 feeling.

    Cheers,
    Pete

    PS. I am a member at Internet business mastery, thanks to your recommendations. Those two have a good couple of guys.

  16. Steven Leconte says

    Hey Pat,

    I’ve decided to do like Christina and Dustin. I will be reading your blog posts as if it was a book (from start to finish).

    I currently do make some money online but I can’t say that the passive portion of it is enough to pay the bills or a mortgage. I’d like to change things a little and I tough I would use your blog as inspiration because you’re doing what a lot of us are aspiring to do.

    I guess what’s keeping me from growing online is fear and time but deep down I know that these are just excuses that I need to get over to reach my dreams. I feel like I’m sleeping on my knowledge at times.

    I’ll read less and do more because… “progress is success”.

  17. Arvin says

    I have been playing with the though of going into passive income a some years back but was always discouraged to go online because of the fear of the unknown. I had no idea how to start it nor how I would maintain it.

    I have been searching all over the web ways of generating passive income. There are a lot of information in the internet. Most are inspiring but I cannot find a way to start off on a good first step.

    After reading some of your latest articles for a few months, something inside me awoke once more. The hungry desire to set up a passive income, plan my life, work to get off work, then live the life I plan. The amount of information available is overwhelming that I decided to take it slow and take it one step at a time. Starting from Day One.

    What you mentioned in your first post is exactly what I have in mind right now. I have to work for 9 hours, travel for 2 hours total, sleep 6 hours, (sometimes less), do household chores for 2 hours total, steal an hour to do what I whim for 1 hour (to keep the sanity in check), then spend the rest as quality time with my wife.

    Not exactly how I want to live a fulfilled life and it is a struggle to get out of it.
    Finding time to get out of the routine is a feat in itself but I HAVE to find time for it. I’ll look into your past archives and see what you do and use it as a guide.

    You are not me but we share the same dream (your are already living in the dream life I have in mind). Your are a beacon to where I want to go but truth be told, there is still a vast horizon beyond us.

  18. Peter says

    I’m very inspired by all those making “passive income”. I just think it should be easier for people with no background or experience. That’s why I started my new project. When I’m done anyone can earn a “passive income” with very little effort and no experience.

  19. Rody says

    Looking forward to reading more of your blogposts. Getting started is a big step for me because I have no idea where to begin. But thanks to your blog I have somewhat of an idea. I have been brainstorming and mind mapping some ideas for eBooks and niches. How do you feel about selling already successful e-books based on Gravity information from Clickbank? Would really appreciate it if I could get your opinion on this. Thanks you Pat.

    -Rody
    Chicago, IL

  20. Carl says

    Hi Pat,
    I’m starting from the begining with you. I like everything your site is putting out, but I was getting overwhelmed, so I decided to start here and make my way through your archives. I have an idea for an E-Book, a strong desire to create some passive income for myself with this e-book and some relevant affiliate niche sites, and an even stronger desire to get out of the “9-5” too. So I will start here. Thanks for all your generosity…you are definitely “paying it forward”.

    Best Wishes,

    Carl

  21. Arnaud says

    Wow! So this is the FIRST blog post on SPI! 4 years ago, now on page 52.

    Pat, you are such a motivation to so many people! It is so interesting to follow your story and see how you’ve gotten to where you are now.

    I wish I could go back in time and start my blog then. I’m seriously motivated now so maybe in a year or two, you’ll get in touch with me to do an interview about my success story! 😉 Wishful thinking!

    Cheers to you from Melbourne Australia!

  24. Kez says

    I guess the critical thing is make your first dollar! All of us can spend way too much time taxiing out onto the runway and then trying to hurl the plane down the strip but the critical point is “takeoff”…that’s what we need to know about!…Once you’ve started making $5 a day..you can make $10 and then $100…it’s the first dollar that does it!!

  27. Amir Rimer says

    Hi Pat,

    I LOVE your blog! You are so helpful.

    You give so much inspiration and valuable information to others.

    I have started to read your posts one by one from the time you have just started, and I will be sure to leave my comments.

    Thank you so much for all your great posts, and good luck to you

  28. Sibo says

    Hey Pat, you are totally living your four hour work week! Maybe not exactly, because you love to work – I had to point this out. To me the hardest part to start making income online is to get started. I spent last 6 months training myself to be an action taker and keep myself motivated and inspired. I had to say, I had such a wonderful time.

  29. Prada Outlet says

    Galaxy study finds unexpected patterns. Your articles is what brought me to your blog a few years ago and I faithfully read your posts (in my email rss) and love them all.

  30. Beth says

    Pat I’ve been sampling your website the last few days and I have to say I’m impressed! I love working in technology but am tired of not having a life. Heck at this point I’d be thrilled to pull back to ‘only’ 10-hour days. You give me hope to reach for another path.

    I love your transparency with your activities and earnings. I used to be a sales engineer – I know all too well that first impressions and initial promises aren’t something to bet the farm on. What I see here is day to day reality. Great job!

    Like some of your other readers I’ve decided to treat this blog like a classroom study guide. I will read through it from end to end.

    All the best.

  31. Dustin Hartzler says

    Hey Pat!

    I’m a long time subscriber to SPI and just listened to Session 49 of your podcast. I love how Brendan mentioned that he has went through your advice and has seen a significant change in his blog traffic, so I thought, if it worked for him, it will work for me 🙂 So here I am, starting back with your first posts, working backwards through them and implementing.

    The thing that’s holding me back from making passive income online is my day job. And honestly, it’s my own fault.

    Two years ago, I quit my corporate job to start my own business – building websites. I enjoy building websites, but I hate the fact that I have to work with everyone else’s deadlines, since of course, everyone’s needs are urgent.

    I have several ideas for online products that would go nicely with my podcast (http://YourWebsiteEngineer.com), but I always focus my time on my clients work before my own projects.

    From now on, I’m going to be more determined to work on my own projects for a few hours each day, before getting into client work. Eventually my goal is to eliminate the need to take on clients and build high value digital products to help people learn how to use WordPress at a higher level.

    I look forward to reading through your archive and begin implementing your strategies.

  32. Dean Patino says

    Hi Pat and everyone,

    Congratulations on your great journey Pat!! You and your content are inspiring AND shine a light on the ways we can all lead an SPI lifestyle. Thank you Pat, I’m employing your words of wisdom.

    Kind regards, Dean

  34. Maxidas 708 says

    To toward the end of each visit, as all eye doctors do, he would place an “E” on a screen in front of me. Then he would then say, “Close your eyes and keep them closed. AUTO

  36. Solomon Mwale says

    Pat thank you so much I was just looking around for the best motivating tool that I can have for my blog now that I am just starting and I have finally landed at this post that you so much it is so touching.

  37. The Patriot says

    This is my second post to your site so far. I have been listening to your podcast and decided to start at the beginning of everything you’ve done to try and catch everything. Probably going to explode my brain. You’re content is just too good and I love the style with which you bring it. I’m really using you as a model for the content I intend to put out. Thanks again Pat!

    http://www.securitypatriot.com

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  41. Connor Madden says

    What’s keeping me from earning passive income online?
    Not knowing where to start. I just found out about Pat Flynn yesterday after spending a lot of time reading business books from the bookstore and listening to podcasts on iTunes almost everyday for the past year. I have a great job for simultaneously starting up an online business. I am a paramedic from British Columbia. And at 21 years old I own a house already from previous saving from all the labor jobs I have worked. But despite this, I yearn for starting a business. Particularly an internet business because of the low overhead. I’ve previously found some success in managing a band, but relatively that was easy because I could physically go and make things happen. The trouble is, I have no idea where to start with the internet. Today I decided I will try to make an internet blog, but I don’t know what to write about. I suppose I need to just do something to get started though. Anybody have any ideas? Does Pat even read these comments?
    Connor Madden

    • GTO says

      You sound like a real go-getter, Connor! What’s your progress been with the blog or other passive-income endeavors? I’m in the same boat, trying to figure out what my new blog should be about. Currently I feel that a blog that TEACHES people something is the best way to go.

  43. Sadiyya Patel says

    You’re so right, Pat. We have opportunities that never existed just a generation ago. I sure am glad I was born in this era.

  44. Bhuboy Villanueva says

    Hi Pat, like some of the people commented here, I also decided to start reading your blog from the start, so I can see how this passive income works for you from start to end, but I do come and read your new post when they come out to be updated. I was inspired by you and decided to start my own online business journey to, so I can quit my job abroad and be with my family. I also started my website http://www.nitrouseo.com , to document my journey just like you. thank you, keep on inspiring us

  45. Tristram DeRoma says

    What’s keeping me from earning a passive income online. When it comes right down to it, what’s keeping me is not being able to come up with an idea that motivates me to come to the computer everyday.

    I’ve tried twice. One idea was a lifestyle blog, where I would write about things relating to that lifestyle as well as sell and write about affiliate products (Amazon, Clickbank) relating to that lifestyle.

    It failed because I lost interest. I lost interest for three reasons. One, I stopped believing in what I was writing about, two I became overwhelmed and three I became impatient with all the work I was putting in with no financial return.

    My second blog was one that was soley an Amazon affiliate website for “gadgets.” I would basically write a review of the product based on what I could find online about the product. I lost patience with that too because of one reason, impatience with the lack of financial reward.

    If I’m really being honest here, it was the lack of instant financial gain that made me lose interest in both these projects.

    In spite of my failures, I have learned much from Pat, and continue to do so (I’m currently on Podcast 84 as I write this). Why do I keep reading and listening? Well, if you read and listen to enough of Pat, something begins to happen to your way of thinking, the way you approach this whole passive income thing.

    Let’s admit it, I’m sure all of us have stumbled upon Pat’s site on our own little quest for freedom and riches, whatever that means to you.

    But it’s not about the money, it’s not really even about you. Listening to Pat I’ve learned one thing, passion for your work and being a service to others are really the only two things that will make you happy, no matter where you are on your quest.

    So, If you want to earn an online passive income and be “free” those two factors (passion, usefulness to others) working in combination with each other will get you there, nothing else will. Money is just a residual effect.

    Back to the drawing board.

  46. Cindy Dunn says

    So, 7 1/2 years after your first blog post, Pat, I am about to post my first post in my own online venture, and I wanted to mark the occasion by finding the beginning of SPI. I started listening to your podcast every day on my commute to my day job, making my way from session 1 to (currently) 136…A testimony to how you can continue to provide value to your readers for years and years after you create the content. I’m looking forward to the day I can inspire others the way you have inspired me. Thanks.

  48. Christian @myknowledgeschool says

    Post 01: Pat, my name is Christian Figueroa and I am starting to read all your blog post starting with this one.

    Before I start I would like to tell you I started my website,

    myknowledgeschool.com

    I am passionate about this and I HAVE A MILLIONARE MIND! I am going to earn passive income online!

    Let the journey begin!

  49. Hector Mesen says

    Hi Pat. You are my role model and will work hard on creating my freedom business. Thanks Man

Trackbacks

  3. […] Pat Flynn’s first post was on how he was intending to quit his job in order to make a passive income. What ended up happening? A few days after posting that intention, he was laid off from his job. With limited options, he decided to take more action with a study blog he was writing. He turned that into a business by creating products and marketing other courses as an affiliate. The end result was he made a passive income of over $200,000 a year his first year online. He leveraged that success to build up his blog, create an Iphone app business, and the rest they say is history. […]