As I’ve expanded my diversified income into another area, Android apps, I’ve started making significant passive income. More importantly, I’ve come to realize that there are three types of people:
- Those who desire passive income, but immediately and completely rule it out based on their perceived capabilities (self limitation)
- Those who consider it, maybe even try it, but soon quit – sighting various reasons like “I lack the required skills”, “other people just got lucky” and “I’ll totally do it as soon as I have time” (self limitation)
- Those who set no boundaries on personal capabilities and whose curiosity drives them to keep trying
You may be born into a category, but it’s not a death sentence. Personally, I was born into #1 but moved to #3 at about 32 years old.
If you stumbled upon this blog you are most likely desiring financial independence and possibly seeking an extreme early retirement (like me). So let’s explore that…
If you are #1 above, you will not achieve FI early. Regardless of what you are willing to save, you’ll be lacking the ingenuity to adapt with your current skill set and learning ability to take care of yourself and family. To exaggerate this point, picture a 30 year old man that has saved heavily, but failing to learn new skills and always avoiding manual labor. He may have saved up a ton, but the first home-maintenance disaster will send him back to work in order to pay for services that he did not budget for. Worse, the fear of a home disaster will never let him leave work in the first place.
The second group is the fantasy group. Those who want to learn, those who are easily taken advantage of… They are easily influenced by advertisements like “get rich with your blog” and “make money writing Android apps” but they personally limit their ability 0n actually doing it themselves based on various reasons (technical knowledge, lacking a strategy, too busy right now, etc). While I don’t categorize everyone together, if I must then I consider this group the group that sees the light, finds too many problems,and exerts energy on why something can’t be done. These people are so close to achieving freedom, but not there yet.
The third group is the group I love and desire to join. These people never lose the curiosity of a 2 year old (which I had for about a decade, but am now in recovery). These people don’t ask “why” but instead ask “why not.” These people are constantly learning new things, both money-making and not. This is who I’ve only recently become.
So what is this all about? It’s simple… If you are category #1 or #2, you are very unlikely to achieve an extremely early retirement. That’s OK, ERE is not for everyone. But if you want to reach an extremely early retirement, I suggest you deeply analyze yourself and find a path to category #3.