Let’s be honest, not everyone would choose to work 40 hours a week if they could work 20 hours and still build wealth and live a comfortable life.
Discover: How To Earn $750 a Week in Passive Income
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If that’s you, Anthony O’Neal — a financial expert and host of “The Table with Anthony O’Neal” — has shared several ways to build wealth outside of a 9-to-5 job.
Earning passive income doesn’t need to be difficult. You can start this week.
Embrace Seasonal Work
You may be able to find seasonal work in industries like tourism and retail. According to O’Neal, “By leveraging seasonal work, you can earn income during your peak seasons, while enjoying flexibility during slow periods.”
For example, O’Neal suggested that you might be able to find a job delivering packages in the months leading up to Christmas. Then, you could potentially make enough during those months to take off the rest of the year — provided you have your finances in order.
Prioritize Budgeting
Part of having your finances in order means budgeting. In fact, O’Neal said this is a strategy for building wealth outside of a 9-to-5 job. He said effective budgeting is an essential component of financial success.
O’Neal advised having an overall vision for your money and then using a budget to track income, expenses and areas to cut back.
Invest Wisely
According to O’Neal, “You have to get to a point to where you’re investing wisely. Investing is the key component of wealth building.”
In other words, you need to get to a place where your money is making you more money. By doing so, and investing wisely, you can build wealth outside of having a traditional 9-to-5 job. O’Neal suggested seeking advice from a financial advisor and reading books to educate yourself about wise investing strategies.
Have a Strategy
“It’s essential to approach wealth building with patience, diligence and integrity,” O’Neal said. “I’ve learned to avoid falling for these quick money things.”
O’Neal additionally suggested to be wary of schemes that promise overnight success. Instead, have a solid strategy for your money to help you build and keep wealth outside of a 9-to-5 job.
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This article originally appeared on GOBankingRates.com: Financial Author Anthony O’Neal: 4 Ways To Build Wealth Outside of a 9-to-5 Job
