This 39-year-old makes $160K/month in passive income—a look at his typical day: ‘I work just 5 hours a week’

I by no means was the entrepreneurial sort. But after shedding my job as an audio engineer in 2009, I needed to get inventive to make ends meet.

Thirteen years later, at age 39, I've constructed two on-line companies that earns me a mixed $160,000 a month in passive revenue. I additionally lately revealed a guide, "How to Get Paid for What You Know."

The first enterprise I began was The Recording Revolution, a music and training weblog that sells music manufacturing programs. The second, which I began in 2018, teaches individuals learn how to become profitable off their passions, like I did. It's essentially the most profitable enterprise, due to on-line course and training program gross sales, in addition to affiliate commissions.

Graham Cochrane began his first enterprise in 2009. Since then, he's scaled two on-line firms and now grosses about $120,000 monthly.Photo: John Olson for CNBC Make It

Around 2,800 individuals use my merchandise, and my purpose is to assist extra entrepreneurs develop their on-line companies whereas working fewer hours.

My prime priorities are spending time with household and having the ability to give again, so I've arrange my work and private life to have the ability to concentrate on these key values.

Here's what my typical day appears like:

Mornings begin sluggish and straightforward

I normally get up at 5 a.m. — earlier than the youngsters — as a result of I at all times need an hour to myself. I'll begin with espresso and my Bible.

After some studying, praying and journaling, I'll make breakfast with my spouse and wake the youngsters. We'll spend 20 to half-hour consuming collectively in the kitchen earlier than I drop them off at college by 7:30 a.m.

Then I head again to my house workplace, or do a fast health club session if I'm in the temper.

Graham and his spouse have breakfast with their youngsters in the morning earlier than speaking by their schedule.Photo: John Olson for CNBC Make It

I work just 5 hours a week — Mondays and Wednesdays

On Mondays, I plan and create YouTube movies and podcast episodes. Potential prospects normally discover me by this free on-line content material. If they prefer it, they’ll join my publication and get emails about free assets and premium on-line programs.

I make a chunk of passive revenue from these programs. I've designed my enterprise system to robotically ship emails, so the majority of my work is just to keep up a regular circulation of latest, free content material.

Recording movies and podcasts takes about two hours. I even have somebody who edits and uploads the content material. My remaining hour on Mondays is devoted to answering emails or giving recommendation to members of my Six-Figure Coaching Community.

On Wednesdays, I spend time on group interplay, then host a 90-minute dwell name with my superior enterprise teaching college students.

Graham spend about 5 hours a week creating content material and managing his companies.Photo: John Olson for CNBC Make It

Once a month, I movie an unique coaching for members of my paid group which provides about two further hours of work monthly to my schedule.

I've by no means been a fan of the hustle tradition; I don't consider it's wholesome or smart. If you will discover a option to construct techniques into your enterprise in order that it largely runs by itself, you don't must waste time doing fixed maintenance.

After all, what's the purpose of "being your own boss" if you happen to're working on a regular basis?

Family time is my No. 1 precedence

People usually ask me what I do with all the additional time in my week, and my reply isn't essentially the most thrilling. I run errands, hit the health club, go to the automotive wash, have espresso or lunch with a pal, or dive into a good guide. Right now, I'm studying "Living Fearless" by Jamie Winship.

But most significantly, I spend time with my household. Fridays are thought of as "date day" with my spouse. We work out, exit to lunch, atone for life, discuss concerning the youngsters, and meet with our marriage counselor.

Lately, we've been specializing in learn how to talk higher when we’ve disagreements. No marriage is ideal, and the work I've put into our relationship has has made me a higher husband and father.

My spouse and I by no means compromise on selecting up the youngsters from college collectively. We wish to be house when they’re. Our different non-negotiable is household dinner. We sit right down to a tech-free dinner each evening. Most evenings, my spouse cooks and I do the dishes. But we additionally eat out a few instances a week.

"My schedule has two non-negotiables," says Graham: "I pick my daughters up from school every day, and our family eats dinner together every night."Photo: John Olson for CNBC Make It

We love going out for walks, swimming in the pool, watching motion pictures or enjoying Nintendo Switch with the youngsters. By spending time collectively, we hope to show them important life abilities like learn how to share emotions and be sort to one another. I additionally need them to really feel like priceless, included family members.

We're huge on touring, too — each domestically in Florida and around the globe. A couple of summers in the past, we spent a month in the South of France. And just this spring, we stayed in Puerto Rico for 3 weeks. Having the time and adaptability to make these sorts of recollections collectively is priceless.

Radical generosity a core worth

We attend church each Sunday, and sometimes do volunteer work with native organizations that assist the unhoused inhabitants in our metropolis.

My philosophy is that I make this cash in order that I can provide most of my earnings away to charities and my native church, teams which can be doing a lot of excellent in the world.

Right now, my spouse and I donate 30% of our revenue, however we hope to ultimately give away 50%.

Graham Cochrane is founding father of The Recording Revolution, writer of "How to Get Paid for What You Know″ and is a enterprise coach to over 2,800 prospects worldwide. Follow him on Instagram and Twitter.

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I stop my $35K job to develop my aspect hustle — now it brings in $141 million a 12 monthsMake It

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