A Little Background
I've always had an interest in creating passive income for myself. The thought of my money making more money for me, or the rewards of previous effort I had expended coming back to me multiplied several times over, always excited me.
From the age of 14, I realized I would someday have to work 40 hours a week ( or more) to support myself, the same as most everyone else. I hated the very prospect of this. Not because I disliked working, far from it, but because of the obligation, the trap that working was. The thought of having to do the same sort of thing for half my waking hours every day, five days a week, was just awful. I realized I would have precious little time for much else in my life. I searched for a solution, a way out of this seemingly inevitable path I was on.
I tried several things. Read a lot of books about how to become wealthy, bought into some of those mail order schemes, ran businesses like a mowing business. While other kids focus on school, sports, video games, and dating, I focused on finding a way out of the rat race. Depending on who you asked, I was either really mature, or really dumb.
I spent a lot of time on this, but never really got anywhere. Part of the reason for this is because I was underage, so I legally couldn't trade stocks, or buy real estate, or drive myself around. I also stayed home a lot. So, I was somewhat limited in what opportunities I had to take advantage of.
I worked some part time, and some full time growing up. Part time wasn't too awful, but full time was everything I had dreamed it to be. Being gone 8 hours a day, having to get up when the sun was peaking over the horizon, coming home when it was sinking past the mountains. Feeling like the week was blowing by me so quickly, as if I was trapped, missing out on so many good things life had to offer. I couldn't meet up with friends. If someone needed to talk, I couldn't be there. Former neighbors came up to visit for the afternoon, and I completely missed them. As for the money I made... what good was it? I had precious few investment opportunities I was eligible for, and no time to enjoy the things I spent it on.
The Turning Point
Right before I turned 18, I came to a somewhat painful realization. My whole point to trying to find a way out of the rat race was so that I could avoid the seemingly inevitable sentence of spending the majority of my time concentrated on money, and not having time for anything else. But in trying to escape this, I had created a very different version of it for myself! I had denied myself from trying new interests, like starting a YouTube channel, because I had wanted to "wait until I was in a better position." My health had become poor due to staying up late. My relationships with family was a bit worn, and I had little in the ways of friends. I had made my own trap, trying to avoid one I was headed for. And this made me very upset.
I stopped spending so much time trying to generate passive income. I still spent some time on it, but only a more appropriate, healthy amount. I began spending more time on my health, and on relationships with others. Within a year, I had started a YouTube channel, made many friends, and had become closer to my family. I also became more health conscious, starting eating and sleeping better, and tried cutting out bad habits I had formed.
This helped me come to three very important conclusions. First, my life needs balance. If I spend too much time on one activity, everything else will suffer for lack of attention spent on it, such as relationships and health.
Second, it'll be very, very difficult to escape work while I am working to support myself full time as an adult, because I'll have precious little time for much else. And if most of my time is being spent building a secondary source of passive income, I'll have next to no time to focus on health, relationships, and personal interests.
Third, I need to focus more on getting lots of time rather than getting lots of money. My plan had originally always been to obtain a lot of money, and thus be able to buy my time back. But, what if I was to find a way to have a lot of time first... and then use my extra time to obtain the money I needed? This way, I wouldn't have to be working myself ragged, and a lot of the pressure would be off. In addition, I would now have enough time to look after my health and have relationships. It would allow me to be much more flexible, opening up all sorts of opportunities to invest financially, to invest in relationships, to help people who needed a hand up, all sorts of things!
A New Plan
After more research, and several months of working out the bugs, I made a new plan. My plan is to finish college, and work in my chosen field for as long as it takes me to save up a year's worth of living expenses, likely 2-3 years. I will then quit, (or perhaps get fired) and receive welfare. Once I am on welfare, I will spend some of my spare time working to climb out of it, by building up a source of passive income. With the stress of providing gone, I can work on it gradually, when I have time, without being obsessed over it and rushing the process along too much out of desperation.
The Incredible Benefits
Once I get to the point where I am on welfare, I will undoubtedly see a large improvement in my quality of life. This will be for several reasons. First, a major portion of the pressure of living by the clock will be gone. I won't have to schedule my day so rigidly. This will allow me to be more flexible in taking life as it comes. If a friend needs to talk, I can talk with him. If my mother needs help moving furniture, I can go over to her house and help her. If a sunbeam looks especially appealing, I can lie in it and soak it up, instead of glancing wistfully at it as I grab my keys and head to the office. Additionally, the lack of a rigid schedule will lead to less stress, and thus better health.
Speaking of which, I'll now have more time to focus on my health. I can spend time cooking nutritious meals, and sharpening my culinary skills, instead of grabbing a quick bite at a restaurant or throwing something quick together at home. I'll have time to exercise. I'll feel better and look better at the same time.
I'll have more time for relationships. I can be there for my siblings, my parents, my friends. And when I get married, the benefits become even greater. I can spend more time with my wife and children. I won't have to be gone from them half the day, and too tired to play with them and show them love and affection the other half. My wife won't have to feel pressure to work and help pay the bills. We can have time for dates, and for taking care of ourselves, and one another. I won't have to miss the special moments that happen at odd times, the wondrous parts of my children growing up. Like when they take their first steps, or learn to ride a bike. They'll have the security of their parents being home with them, and the closeness that brings.
I'll have time to work on building up passive income too, as I already mentioned. I can start little side projects, things I like and am interested in. For example, I believe I mentioned I wanted to start a YouTube channel. I have done that, and not having to work would give me time to work on my channel, something I am actually passionate about. And with time, it could have the potential to grow and support me and my family, so that we can leave the welfare system. And that isn't the only opportunity either, I could try some other things too. And without the pressure of having to make this my ticket out by a certain deadline, I could take my time and enjoy the process.
The Cherry on Top
Perhaps the strongest, and most ironic point of all, is found in the nation's tax system. If I was to try and work to support myself, the government would be weighing me down, by taking 25% of my earnings. What for? To pay for the very system I am planning on using! When I use this system, not only is the government giving me money instead, they are freeing up my time so that I can accomplish my objectives. I can either row against the current, or let the current carry me. Tell me... which sounds like a smarter move to you?
Really, the biggest concerns with this plan are the ethics of it. Some might say I am stealing money from those who "really need it". Those who can't actually work, who the system is "designed" to help.
First off, I have a simple question. What about those receiving Social security retirement benefits? Should these people not be taking their benefits because they don't "need them"? You could say no, because they have paid into the system and earned their benefits. Well, I will have done the same. Having worked a few years, I will have contributed by paying my taxes, and will now be receiving the benefits I have paid for and earned, some of which I would not qualify for if I hadn't paid for them.
As for what the system is "designed for", the welfare system is not designed to help poor people that can't earn their own way. If that were the case, people with phobias of spiders wouldn't qualify as "disabled." And neither would people who have a million dollar net worth, but no income, so they qualify for disability. I'm not stealing, I am meeting the rules, legally, and ethically.
That's my argument. Thank for reading everyone!