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June 5, 2013, 5:00 am

Do You Live for Today or for Tomorrow?

by: The Financial Blogger    Category: Assets and Net Worth,Career



Last week, I wrote about our Daycare project in order to make more money. This is the compromise we found to make more money, reestablish our budget and still enjoy our quality of life. While my wife will be working and I will have to participate more in the household chores, my children will still come home from school early and we will be there to help them do their homework.


However, we won’t be chillin’ like villains as we are right now. Life has been pretty smooth since I moved into my house in the country three years ago. We haven’t worked much, enjoyed two awesome vacations in Virginia Beach and Disney World an even put money in the house so we have central AC and a pool for summers. As I have mentioned before, life was great but my debts were stagnating. It was somewhat impossible with such a lifestyle to aggressively drop my debts and I even ended-up with some consumer debt, something I’m definitely not used to having!


Working Harder with One Goal in Mind


I’m pushing harder on my online company while my wife will start her daycare for one specific reason: we want to reach financial independence. I’m tired of looking at my account balance to make sure I have enough money to cover for the month. I’m tired of thinking about the best moment to cash out my employer’s stock or waiting for my year-end bonus in order to breathe again. This strategy worked well for several years and enabled me to live beyond my means most of the time. This time is over.


Why Live for Tomorrow if You Have To Skip Today??


Some people think it’s better to live now and not wait for tomorrow. Their thesis is based on a pretty strong argument: what if you die tomorrow? Since nobody knows, I guess we can argue a long time about this concept of life. On the other hand, I’m tempted to ask: what if you live until 90? The odds are actually on my side as your chances of dying tomorrow are pretty thin compared to an average life expectancy over 80 now in industrial countries…


Nonetheless, I’ve always been a big supporter of the “live now and see for tomorrow”. I have a stable job with a solid pension plan so I don’t really mind about tomorrow. I spend a lot of money to enjoy life right now and even dropped my hours worked since 2009 to almost feel like a half-retirement (after all, who can work in a bank at 4 days a week? Hahaha!). But over the past six months, I realized that I want even more. I’ve been telling people as a half joke, half truth that I wanted to retire by the age of 35. I’m turning 32 this year and I now truly want to retire at 35. It’s not really retirement; it is more like financial independence.


The Price of Early Retirement


Dreaming about the morning where I will have to head for my coffee before playing golf is surely interesting but it doesn’t bring the dough home. While I’ve realized I want to retire early to enjoy life, I also realized that I have to make some sacrifices to make it happen. You can’t chill out and hope you will win the lottery.


The price of my early retirement is definitely in the number of hours worked. I have to go back to 50 hours/week while my wife goes from “0” to 40! Don’t get me wrong, she is definitely working more hours than me right now being a stay-at-home mom but those hours are not compensated. This is what we need: more money to pay off our debts faster!


By changing our life and making more sacrifices, it implies I will have to participate a lot more in doing household chores and that we will have to do the groceries over the weekend and so on. Our lifestyle won’t be as smooth as it was before. But I know that we will build a stronger future for us and our children.


I Won’t do That Forever


If I had to change my current lifestyle for the next 10 years or even for the rest of my life, the change wouldn’t make sense to me. The point here is to work very hard for the next three years and then, change  our lifestyle drastically. I did it once when I started working ten years ago and I was able to buy myself 5 years working 4 days a week. Next time, the goal will be to drop my hours worked to 25 hours/week. This is just enough to keep me busy and ensure a source of income. But I won’t be able to do this as long as I have all those debts!


Which Kind of SacrificesAre You Willing to Make?


I told my wife that the next three years won’t be fun. We will be working hard and this is going to be very tough. However, in three years, we won’t have discussion about our budget anymore. This is the whole point: being able to spend money as I want without having to check my bank account.


This new project implies that we will both crank up our hours worked. I don’t want to cut back on my current lifestyle and there is not much I can cut out of my budget anyways. This is why the only solution is to crank up the income for a few years and use this extra income to clear our debts.


Would you be willing to work like an animal for the next three years if it leads to financial independence? 

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May 22, 2013, 4:15 am

What Would You Do Without a Job?

by: The Financial Blogger    Category: Business,Career,Make Money Online



I have discussed the topic of having a Plan B on this blog a few times. Recently,  I explained how much I would need in 30 days to pay off my bills if I was going to lose my job today. What I barely discussed yet is what would I do with my time?


Working on my online company


Yeah… that’s the easy answer and you are probably thinking about something similar to these options:


Find another job

Grow my side gig

Become a freelancer


These all sound like great ideas, but that’s BS…. Why? Simply because there is no plan attached to it! If I do some stupid math, I would resume my situation with the following equation:


10 hours / week of work = $9,000 of gross revenues per month

50 hours / week of work = X

X = $45,000 of gross revenues per month



This is the most unrealistic number I’ve ever heard out loud… oh wait! I know people making this much online… Mike… listen to me… just quit your darn job!


I won’t quit my job right now because I’m a cozy coward. A cozy coward is someone who doesn’t have the guts to leave his comfort zone to get his hands dirty again to work on another project. I would rather enjoy my wine on the terrace than type like a crazy maniac on my computer in my basement.


Nonetheless, if I had a choice between keeping my day job and leaving my company or leaving my day job and keeping my company, I would chose the latter. Maybe this is what I’m waiting for to make the big move. This thought crossed my mind recently and I thought “Darn! I’m so not prepared to work 50 hours/week on my company… what would I do???


How Can I Use My 50 Hours Per Week?


Ah! This is what I need to do! Plan my 50 hour weekly workload to make sure it will result in something that makes so much money that I could live a crazy life. The key here is not to increase the amount of time required to manage my online business but to use the extra 40 hours in a manner where I could make a lot more money. You read that on this blog many times: focus on value-added tasks. If I can’t make more money with these hours, I’m just as good as dead.


The key here is to work 10 hours per day from Monday to Friday. If I start at 7am, this means I finish at 6pm (with an hour of lunch). It’s darn hard but it’s feasible. We don’t call being an entrepreneur a sacrifice for nothing, right?


I know myself very well and know that when I’m creating something, I work all-in. Therefore, I could focus on just one specific task each day. For example, my schedule could look like this:

Monday: write all my blog posts

Tuesday: work on niche sites

Wednesday: produce comments, emails and promotions

Thursday: work on an eBook

Friday: tweak my sites (SEO, design, conversion rate, etc).


This sounds like a good plan for someone who can jump from one thing to another. But it doesn’t sound like a real plan for me. I would rather focus on a narrow set of things…

A Weekly Routine


Here’s what my weekly routine would look like:



Take the 10 hours to generate content for my blogs for the week. Ideally, write 8 blog posts during that day.



Tweaking day!

Focus on improving conversion rate on existing products,

Study website traffic,

Plan for new ideas,

Do SEO, link building,

Improve design, try new software,

Improve newsletter,

Outsource irrelevant tasks,

Manage employees,

Plan topics for the following week, etc.


Okay… so I have 2 days planned; the beginning and the end of the week. They make up the daily stuff concentrated into 2 days per week. There is not much I can do to vary this kind of work. However, this leaves me 3 days… or 30 hours to focus on specific projects.


I would take this 3 days block to focus on 1 project at a time. My guess is that I would probably be able complete at least one project per month since it equals 120 hours on a project. I don’t think I ever put 120 hours on any of my projects so far, therefore I can only imagine how great it could be to so!


Specific Projects I Would Work On


I think I would need to list at least 12 projects to make sure that I make more money each month. Technically, it’s not really stupid math to think that if I can work 120 hours on a site it would generate an additional $500/month. This means that I could *technically* improve my revenues by $6,000 per month within a year. After 12 months of working for myself, the company would be making roughly $15,000/month. I could then draw a salary of $8,000 per month easily… wow…


All right, enough with day dreaming… now it’s time to generate these dollars with real projects. It’s one thing to think about making money, it’s another one to make the site generate it!


Here’s a list of 12 ideas that could generate $500/month:


#1 Optimize all my niche sites to grow by $500/month


#2 Create a membership website


#3 Create an authority site to become a successful financial planner


#4 Create another set of 5 small niches sites generating $100/month each


#5 Create additional products to sell for my existing websites


#6 Take my 5 main sites and improve them so they make more money


#7 Create an authority website about insurance


#8 Create an authority website about finding a job (how ironic! Hahaha!)


#9 Create a series of product review niche sites


#10 Write eBooks (would require more than 1 to generate $500/month though)


#11 Take a month to learn how to use different technique and products to improve my site (and make money with affiliate programs on top of my improvements)


#12 Work on special promotions for affiliate programs and sell them through my newsletter



That’s shocking


I often do that when I write on TFB: I start a blog post with an idea but I have no clue where it will lead me. So as you read this article, you have a resume of my high speed level of thinking about my future. Within a few hours, I just found out that if I quit my job, I could probably generate another $6,000 per month within 12 months. This plan is obviously not detailed enough as published but there is definitely enough room in this brainstorming session to generate the money I’m looking for. Plus, it is line with a highly sustainable plan…


I’m shocked.


I didn’t expect that. I didn’t expect that it would be realistic to think this way. After writing the post, it doesn’t seem completely ridiculous. In fact, I’m not even sure it sounds risky…


What do you think? Would you drop the ball and go all-in?

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May 15, 2013, 4:45 am

The Importance of Keeping Focus

by: The Financial Blogger    Category: Business,Career



I have so many projects, I don’t know where to start….


At work, with your sideline business or for life in general, I’ve observed that many people can’t manage their time well. They all have tons of things to do and work super hard over long hours. But the result is always the same; they can’t make it.


If you feel overloaded, under pressure, crumbling under your pile of work, this post is for you.




Honestly, it’s difficult because you want it to be that way. My boss once said:

You can keep shuffling paper all day. At the end of the day, you will have worked 10 hours in a row like donkey, but nothing will be done.


The problem is not if you are working hard or not, the problem is that you are not working on the right things. I’m known for my sense of productivity. I’m actually obsessed by efficiency. If there would be a religion based on effectiveness, I would be one of their greater preachers ;-). I have never believed that working long hours was the solution to achieve any task. Get smart instead. Here are a few tricks I’ve learned to make sure I keep my focus on the right thing.




One of the biggest time consuming items in your life (after traffic, lol!) is probably email managing. In order to become efficient, you need to have a clear view of what has to get done. You need to look at the entire forest, not just the tree in front of you. If you attack one task after another, you’ll be a good soldier, but you will never lead the army.


What bugs me the most is my mailbox. I can’t start my day with an inbox full of email. This is why I always start my day by cleaning it out. In reality, there are only a few emails requiring immediate attention. Chances are that it’s not even 1 a day! This is why I scan through all my emails, delete the ones that are useless, forward a good part of them to other people who can work on them and answer 1 or 2 crucial emails in the morning. This way, I know that my mailbox is almost empty and the rest could be cleared towards the end of the day.




Each morning, after cleaning my inbox, I look at my week and at my day. I make a list of things I absolutely need to finish. Those are added value task that nobody could do. I’m not here to shuffle paper, I’m here to add value to my company; regardless if it’s my employer or my own company. The point is to add value when you work on something.


The short list will lead to the rest of my day and help me prioritize tasks. Every time a new thing to do hits my desk, I look at my quick list and determine if it should be part of it or not. Most of the time, it shouldn’t. So I put this task aside and continue my focus. I do exactly the same thing with my online company: focus on my quick list and put the rest aside.


Towards the end of the day, I have less “brain energy” so I can handle the rest of my emails, shuffle paper around and clean up other small tasks. The important things have been done, so I can spend time on things that don’t matter as much.




People say you need to take a step back to have a clear view. I don’t think it’s appropriate. I think you need to run a mile, go to the top of a mountain and then turn back and look at the big picture. At each beginning of the year, I take an hour or two to make my plan for the year. This plan is good for my day job, my online company and my personal life.


I listed my goals for 2013 for my personal and online business aspects on this blog. I do the same thing at work to make sure I’ll be on target with my objectives. You know what? This is why I never fail at doing a good job at work ;-).




It all starts from setting your priorities. Most people don’t know which priority to set as first. I find it easy: take the one that adds the most value. I have seen people working on 10 sites at a time and my questions was: why don’t you focus on your top 2 earners and see if you have time left for the rest?


We have been putting a lot of projects on the shelf throughout the years for this reason. I don’t have the time to work on a super project? That’s not a problem, let’s put it on the shelf and work on a super project that is already working and generating money. In 2012, we had an insurance website project. We clearly don’t have the time to build it right now. So we just forgot about it and have focused on other money earners. This year, my main project is a membership website. Last year it was my book. You know what? I’m still selling 40 books per month after almost 9 months since we launched it.


So keep this in mind: choose what bring the most value as your priority. It’s not that complicated once you use this single rule, is it?

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April 22, 2013, 4:36 am

When the Hobby Becomes a Business

by: The Financial Blogger    Category: Alternative Income,Blogging,Business,Career





Who ever thought of making money out of their passion? Is it not the best financial scenario? Making money while you do something you truly enjoy. Most hobbies and passions require that you pay to enjoy them. If you can find a way where you can be paid to enjoy your hobbies, you have just found the Holy Grail! I’m not sure it’s true. A few weeks ago, I read a very interesting article about not turning your hobby into a money maker @ Retire By 40. Joe outlined a list of reasons why making money from your hobby isn’t as perfect as you may think.


A few years ago, I would have argued actively with him. I turned my blog into a business back in 2008. At that time, I saw the same thing as Joe: I can make money online. I can make money out of my hobby. Where I’m a bit different than him is that I started The Financial Blogger back in 2006 with this objective in mind: making money online.


Where It All Started


When I start writing my blog, I knew I could make money from it. My friend (who became my partner in this adventure) was already making money from his website. He made enough to pay for his tuition fees and go on a 6 months foreign exchange student program. He never had a summer job, he was simply working online a few hours per week from his bedroom.


Then, I started to do some research and found John Chow. He had the first “make money blogging” blog I followed. When I was telling people in the Personal Finance Blog niche (we were less than 100 at that time) that I was in to make thousands of dollars per month, they all told me that I would be lucky if I could make $200 monthly! I decided to continue nonetheless as I knew that other people were making money.


Then I Started To Love the Business


This is why I started blogging: to make money. I wanted to share my financial knowledge as I thought that most people don’t get the right advice from financial advisors and journalists. The second goal was to improve my English writing skills. But behind all that, I knew I could make money from this business.


What happened is that the more I wrote, the more I wanted to write. I’ve always love writing and even thought of becoming a writer when I was a kid. When I realized that most writers are starving, I thought a career in the financial industry was a better idea ;-).


Slowly but surely, my passion for blogging and this whole “new world” started to grow inside of me. At that time, I was thinking about my blog non-stop. I used to get ideas at any time of the day and night and sent myself emails to keep track of them all. I developed a passion for building a business online.


At that point, I had reached the perfect balance: doing something I truly enjoy while making money from it. Unfortunately, nothing is perfect…


When The Passion Becomes a Job


I mentioned this on the blog already but 2012 was a crappy year for us. The combination of having a new (very demanding) job, not sleeping with our newborn, getting stuck under $10,000 of unexpected expenses plus getting kicked in the nuts by Google was a lot of downers in a very short time span.


My passion started to fade away and I temporarily lost the desire to work like a maniac on my blogs. I still liked the fact of having a company and running projects but it looked a lot like a job at one point. The obligation of writing weekly, the tracking of our income and expenses, the projection updates we are doing to make sure we are on track with our objectives… All that sounds a lot like a job vocabulary and not a hobby or a passion.


This was a rough period as I know I need this money in my budget. A good part of my overall income is derived from my online company now. It represents roughly 30% of my income; I just can’t let it go. But having a second job (on top of being a father of three!) seems just like a recipe for a burnout later on. It hurt to think that I needed to work on my company instead of wanting to.


Going Back to Basics


I can describe myself as a very difficult individual when it comes to work. I’m a real beast of productivity and do not fear completing humongous tasks within a ridiculous timeframe. However, I must be happy to do so. If I don’t have fun doing what I do, I become mediocre. I didn’t have the flame burning inside throughout 2012. This is when I started to question myself.


I had to go back to the reasons why I was having so much fun with my business and pulled them back to the top of my priority list. I love managing my business and seeing growth. Results are definitely the most inspiring factors for me. This is why I started to concentrate on how I can bring results to the table.


Cutting the crap, do what I love was the first thing I changed. I decided to write only the stuff that I want to write about. Too bad for Google and too bad if you don’t like it, I’m going to please myself with this blog!


Being part of a Master Mind Group was a clever move. I now have a weekly meeting with motivated people that help me bring results to the table. This is a true motivator for me.


Having a meeting with my partner was another great idea. Each year, we meet-up over the weekend to work on our company. We had a great discussion about the future of our blogs and our involvement. This has boosted my motivation through the roof.


Is it working?


It is! I’m feeling free to do what I like and this is probably the most important thing when you have a business or a hobby; never feel that you are forced to do something. This is probably the beginning of the end if you keep on to this route.


Do you find it difficult running your blog now that you are making money out of it? Is it changing anything to your writing style?


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April 17, 2013, 6:28 am

The 3 Prime Jobs I’ve Refused So Far

by: The Financial Blogger    Category: Career



In hockey as in many other sports, we say that good transactions are often the ones we don’t make. That’s always easier to say when you look back at potential moves you could have done but didn’t pull the trigger on. During my career, I have received several job offers. Some were very good, but I didn’t accept all of them. In recent years, I can look back and say that I’ve made the right choices. Today, I am looking at 3 prime jobs offers I’ve received in the past 3 years which I declined. The salary of each job is approximate and could have been higher… maybe not! Hahaha!


Branch Manager – $75,000


As soon as I finished my MBA, I got an offer to become a branch manager. Some people in the industry will tell me that it’s not a prime job as there are hundreds of branch managers working in big cities… and for each branch manager working; there are 2 on burnout, lol!


However, this branch wasn’t the small office at the corner of the street; it was a big branch with roughly 30 employees. The volume and prestige that come with such a branch is interesting. It gets you closed to the centers of power and highly visible to Vice-Presidents. In other words, it’s the perfect place to shine and get another promotion.


The base salary was good and there were obviously bonuses attached to it. I have a pretty good idea of how much I would have made since I was very close to other branch manager of that size. There was only one problem; the burnout factor. In that previous post, I explained I don’t believe in burnouts. In fact, I believe people are putting themselves in highly probable situation that they will crumble. Therefore, it’s their own fault if they burnout. This is exactly what would have happened if I would have accepted such a position. Being a branch manager sounds great but it also means that you are fully responsible for everything happening in the branch. This part is a real pain for me!


This is why I declined my first prime job offer and instead negotiated a 4 day work week. This was the best deal I ever made!


Regional Manager – $80,000


Not so long ago, I got a call from my first boss. I sometimes refer to him on this blog as he taught me everything about managing a career and performing at work. He was and still is my mentor when it comes down to my job.


My mentor got a promotion in his department (his second or third since I left) and he was offering me his previous seat! This was such an honor to be offered such a great job. The pay check is good and also comes with a potential bonus. I don’t have to manage the hassle of a branch since it’s one step higher. The job is more related to strategy and closer to upper management.


It doesn’t require too much traveling and I already knew some of the staff. Even better; I know this business better than anyone else. But the job is in Montreal, 1 hour away from my home. I did this for almost three years and I would not do it again at this time. It wasn’t the first reason why I decided not to apply though. I remembered the negative working climate in this department. Working in cubicles makes people complain and bad mouth each other. I didn’t want to be involved in “hypocritical wars”. For the sake of my own mental health, I decided to decline the offer.


Junior Broker – $100,000 +


Just before I left my job for parental leave in Montreal, I was offered to become a junior broker with a guaranteed 6 figure income. The job was truly awesome, I knew the people I would be working with and knew I would have had a blast with them.


This was truly a “dream job” where I could have used all my talent to perform and have fun. But here’s the trick; you are expected to use all your resources to succeed. This is why I would have been working crazy hours and loving it. The work doesn’t scare me; I’m scared of liking it!


I used to work like an animal while being in the top 3 in Montreal at the same time as completing my MBA. I loved that period of my life as it was incredibly challenging and rewarding. The problem is that if you do this for too long, you lose other things. I could have lost my marriage and seen my kids every two weeks because of my job. I didn’t want that back then and this is why I decided to work four days a week.


When I was offered this job, I took a moment to think about it. I knew that I wouldn’t regret the job itself. But I also knew that I would end-up regretting my lifestyle. There is no point of making a lot of money if all you do is work and have fun with the people you work with. The real richness is found in time spent with your true friends and family, not just with co-workers!


Have you ever said no to prime job and felt happy about it? Or have you accepted a job you shouldn’t have?

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