This 28-Year-Old Man Says He Works 3-5 Days a Week, Identifies 7 Income Streams That Earns Him N124.7m Yearly
- According to 28-year-old Josh Ellwood, he worked as an engineer in an oil firm where he worked longer hours weekly
- He said he started to experiment with different side side businesses until he discovered about seven income streams
- Ellwood said he resigned his engineering job and focused on his side businesses from which made N124.7 million every year
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Josh Ellwood graduated from the university in 2017 and started working as an engineer at an oil firm at 23, earning $98,500 a year.
He had seen the job as a dream job, but after he saw senior colleagues work 60 hours a week with occasional travels, he realised it was not the life e dreamt of. Moreover, losing his father when he was three years old made him value family.
Source: UGC
In the beginning
In 2018, he began to experiment with different side businesses. He set his goal to make at least $3,450 a month from his side hustles to fund his lifestyle. Immediately after achieving that, he decided to quit his full-time job, he told CNBC.
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He said he has achieved his goal of being his boss and has left his engineering job in February 2021 to work on his side businesses full-time.
In 2021, he made more than $189k from seven different income streams.
As per Ellwood, he works just 22 hours a week. He takes Thursdays, Friday afternoons and weekends as his days off. As a result, he says he has plenty of time with his family.
He details how to turn side hustles into full-time gigs while working fewer hours.
Don’t b scared of trial and Error.
With his early side business, he tried acquiring rental properties, placing adverts in the backseat of Ubers and renting out his three-wheeled Polaris Slingshot motorcycle on Turo, an online car-sharing platform.
He said none of those businesses was successful until he began to sell products on Amazon using the fulfilment By Amazon service. Then, he understood what making real passive income is.
Build a community around your expertise
He launched his YouTube Channel, Debt to Dollars, in 2020 and began to post two to three videos weekly. At first, he gained 14,000 subscribers in eight months and 871,000 channel views.
As he grew his audience, he discovered he wanted to connect more with subscribers and build a real community. So, two years ago, he began to mentor students one-on-one for $50 a month on how to make money selling products on Amazon.
He currently uses Patreon, a platform that provides business tools for content creators to run a subscription service, to host his coaching sessions.
Josh lists his income streams:
- YouTube (Google AdSense): $82,349
- Fulfilled by Amazon: $13,886
- Patreon (coaching): $33,114
- Fiverr (product research): $29,014
- Affiliate marketing: $29,496
- Rental property: $1,272
- Taxable dividends: $639
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