We all have that dream. "What dream?" you ask. You know. That dream. That dream of one day playing the lotto, and you guessed it, cha ching!!! You hit! Dolla Dolla Bill Yall! And as we experience euphoria, we have a carefully choreographed scene in our dream on how we would quit. I know I do.
Me: Hey boss
Boss: Yes?
Me: I quit!
Boss: You quit?
Me: YES, I quit! (explicit) you. (explicit) your dog. (explicit) this job. (explicit), (explicit), (explicit)!
Then I smash some sort of electronic(hey, it must be expensive right?) and walk away feeling like the Nature Boy Ric Flair himself, wooooooooh! But it doesn't end there. I leave, hop into my brand new bugatti, speed out the parking lot, and at the top of my lungs I scream "I'M RICH B!" Dave Chappelle would be proud.
Ahhhh yes, the dream of winning the lottery.
Snapback To Reality
Ooops there goes gravity.
The truth is, the chances of winning the lottery is slim, at best. According to the Huffington Post, the chances of winning the powerball is 1 in 175,223,510. Good luck with that.
Ok, ok, ok, so I know your reading this article, and your asking yourself, "what does working overtime at a job that you hate, have anything to do with the lotto?" If your about chasing that dream, then nothing. But if your about achieving your goals, then everything.
According to BusinessInsider.com, Forbes Asked 50 Billionaires How Much They Worked. Over half said 60 hours a week or more. Furthermore, "...few gamble at all. In fact, the higher a millionaire's net worth, the less likely he is to gamble" according to The Millionaire Mind.
If the rich and the wealthy work more than 40 hours per week, and they don't place their fate on winning the power ball, then why cant we?
Working Overtime To Achieve Your Goal
If your are goal driven, then you already have a list of goals that you aim to conquer. Whether its early retirement, investing, purchasing property, starting your own business, paying off debt, or even traveling, your goals have been set. One way(not the only way) to achieve your goal is through working overtime, even if you hate your job.
For most of us, myself included, our 9 to 5 provides us with a significant amount of our income. Make no doubt about it, living off passive income is the ideal scenario. And if living off passive income is one of your goals, then earning time and a half while working for a job that your willing to earn regular time for can, and will accelerate your path to success.
I've been working overtime at my job nearly every week since I've been eligible. Some weeks I did as little as 4 hours of overtime. Other weeks I did as many as 16. I eliminated my credit card debt, auto loan, and student loan, thanks in part to to all of the overtime I worked.
I decided to live below my means while earning more money. I had the mentality of living below a 40 hour per week paycheck, so imagine all of the extra money I was able to put to work while working a 48 hour week. Paying off my credit cards, auto loand, and student loans was like paying myself first, but on steroids. That's because the interest I was being charged on in these accounts was higher than the return on my investments and the interest earned from my savings accounts. If I would've made the minimum payments required by each creditor, it would take me years to pay it off. Fast forward to today, and I'm still clocking in overtime, only this time the extra money is being used to fund my investments in stocks, commercial real estate, or crypto. I am 100% debt free, excluding my personal mortgage, and mortgage tied to my investment property.
Being financial free is a huge goal to me. I want to tell my boss (explicit) you, I quit! I want to purchase my next property. I continue to split my extra income 4 ways: additional contributions towards my investments, additional contributions towards my brand, and additional savings, and enjoyment for my family and I. One must not forget, investing in your family is important. The best thing about it all, is that my lifestyle wont take a hit. I can still do what I love, plus more, with the love of my life.
Conclusion
So ask yourself, what would you do with a couple hundred or thousand extra dollars in earned income every pay period? Just calculate. How many extra hours would you be comfortable working? Remember, income wise, staying an extra hour 5 days a week is equivalent to working 5 hours on our day off. Once you receive your paycheck, DON'T TOUCH THE EXTRA MONEY! Don't spend it! Don't imagine it! Don't talk to it! Don't sniff it. Don't season it! Don't fondue it! Don't.... wait, I got carried away a little bit. You can tell that I'm hungry, but you get the point. Leave the extra income alone and use it towards your goal. Speed off on your path to your goal, all while screaming "I'm Rich B!".