Nov 2018 income, expenses, and travel report from chiang mai, thailand johnnyfd.com – follow the journey of a location independent entrepreneur electricity deregulation wikipedia

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However, even though I can live for a lot less as a lot of my expenses are non-essential, I also love enjoying life now, especially if the things I do are a good value. Things like spending 700 baht ($21.30) on a coconut frappuccino may sound like a terrible use of money, but the fact that it allows me to use the pool and spend the entire day at a 5-star resort in the mountains to relax, unwind and enjoy the same life as someone spending $250 a night, making it a great value. electricity symbols In fact, sitting next to us at the pool was a couple where the man was 67 and had just retired and his wife just a few year’s young is still working. Even though they were loving their time there, by now they’re already back home still paying down a mortgage and living an expensive life.

For me, I get to do this 30 years earlier and can go there every weekend if I wanted to. Or better yet, go to a different 5-star resort every other week for some variety while going home to my super comfortable condo in the city center, eat out 21 meals a week, and have a house cleaner come whenever I need them while still living for around $1,000 a month as a base cost. The only giant expense that doesn’t really need to be there, but is something that I’m happy to do, is paying for my parent’s property taxes as well as giving my mom $1,000 a month to help with her retirement so she can be financially comfortable without working. Here is everything I spent this month.

As I do every month, here are screen shots of some of the sources of income that I earned for the month. Some items don’t have dashboards to share and some things payout quarterly and not monthly so a few aren’t shown, but in general, these insights can give you an idea of what is working, and how much money each source is earning. la gasolina letra Be aware that, even if something don’t look like it makes a ton of money right now it’s mostly because I’m not that focused on it, and not because it doesn’t work. For an example, I have a friend who made $11,000 as an Amazon Associate last month as it was Black Friday. The only reason why my Amazon affiliate earnings is so low is because I didn’t focus on promoting it, and 100% of my Amazon referrals come from posts I’ve written years ago like this USB Microphone Review post that I wrote in 2015 that still earns me passive income every month up until today.

Also not included in my income calculation for the month are gains or losses for my investments if I didn’t actually sell the shares to cash out. So even though my Vanguard fund technically went up by $4,214.11 this month, I don’t count that as income as it fluctuates up and down each month and you don’t technically make or lose any money until you sell the shares.

Below is a screenshot of the spreadsheet I use to keep track of where my income comes from including book sales, udemy courses, dropshipping, dividends and interest collected from investments, ad revenue from youtube, podcasts, income earned as an affiliate, and income earned coaching, doing seminars or putting on conferences. All numbers are net profit after expenses, and if you want more details and the how to, you can join my Income Boss course where I break down everything in even further detail. If you missed out on the Black Friday sale for the course, you can use the coupon code JFDBLOG at IncomeBoss.com for an extended discount that’s still valid this month.

This month was the start of the new dropshipping partnership program. As those who have been following along these past 5 years know, I’ve now started and sold a handful of dropshipping stores on my own and with partners, and the income I’ve generated from both the monthly profits of the store as well as the windfall cash that I’ve gotten from each sale has allowed me to purchase $173,946.87 in low cost index funds through Vanguard as an investment. That money has now earned me an additional $43,000, making it the ultimate source of passive income. The only problem now is that once the stores are sold, it’s time to build new ones, which is why I decided to start up another batch of stores.

Six weeks ago I sent out an email to my newsletter subscribers asking if anyone wanted to move out to Chiang Mai for two months and build stores together. A ton of people said yes, but many of them couldn’t make it out in time. I took the remaining 20 or so applicants and decided to choose 7 of them for this year’s program. electricity load shedding We’re all members of Anton’s dropshipping course and am using his method of selling high ticket products ranging from $300-$1,000. For those who didn’t get chosen this year, a big part of it was I wanted people to have already been a part of the course for a while now and have tried it themselves, or otherwise had some experience or training before jumping in. My plan worked out and within 3 weeks of us starting this program, all 7 partners already have stores up and running with suppliers on board.

I’ll keep everyone updated with our progress in future blog posts, but the goal is for us to launch the stores and start getting sales by the end of the year, run them for a year to maximum profits, then sell the stores after 14 months like I did with the previous 4 that I’ve sold. Then taking that money and putting it into investments which will continue to generate truly passive income for the rest of time.

It’s honestly kind of strange being this transparent with my numbers. I think that the longer I do this, and the more I share, the more comfortable I get with showing the ups as well as the downs. quadcopter gas engine If you ask me why I do it, it’s honestly because I wish others would do the same. I’d love to see a trend of everyone being transparent with their numbers as it would make learning, growing and improving our businesses while cutting out expenses much easier for everyone.

Another reason why I do it is because it keeps my accountable to both myself as well as to those who follow my journey. Earlier this year from March – September when I basically took six months off of work on passion projects that didn’t make any money and just coasted in maintenance mode while traveling and enjoying the summer in Europe. But even then I always had on the back of my mind how many people I was letting down by not doing as much as I could and was capable of. Luckily I got my act together a few months ago and have been working hard and taking on new projects once again.

The goal for December is to finish organizing the upcoming Nomad Summit, get the remaining speaker’s confirmed and announced, fill up the remaining two sponsor slots and start marketing the conference hard to hopefully beat last year’s record of 400 attendees. I’m also meeting two the dropship partners twice next week to focus on optimizing their product pages so they’ll convert higher, and my partner Sebastian, will spend the rest of the month with them optimizing traffic and ads so we can start getting sales by year end.

There’s a lot to do, and it’ll be a busy month regardless as I’ll be going on a scuba diving liveaboard trip in the Maldives just before Christmas, but I’m excited to end this year strong! Let me know in the comments what your goals are for year end, and for those who are aiming for financial independence, where you are on the journey and how much money you’re spending and earning each month. Lets rock this and achieve FIRE together!

Great to see that you’re still doing this after all this time and still promoting dropshipping as a great way to build an e-commerce passive/semi-passive income stream! You were actually the first online mentor/influencer I ever found in regard to building online businesses (back in Nov-December of 2015) and I promptly enrolled in Anton’s DSL course during the New Year sale… Sadly, I got distracted by Amazon FBA and the idea of using that method instead of drop shipping to create passive income streams (not that there is anything inherently wrong with it), but that brought along a long cascade of "shiny object syndrome" and many thousands of dollars and different courses later, as well as many failed attempts at FBA… youtube gas pedal dance Here I am, 3 years later with nothing to show for all that time and coming right back to my roots and actually re-starting the DSL program I bought and never even started going through because of those distractions (also I’m part of your Income Boss program and I need to start and complete that course after DSL). Sad that so many different distractions got in my way of real progress, but I learned a lot in that time period and I am now more motivated than ever. Just good to know you still are doing this consistently and promoting Dropshipping as still a viable option. It seems like my best bet all along and I’m really going to nail it down this time around. (Im a young guy, 23 years old with dream to be a millionaire by 25). Thanks for all the great content you put out, and keep it up with your transparency and honesty!

That’s exactly right Johnny! And that’s something I realize now, so while I have very little to show for the past 3 years (besides many failed attempts at FBA and a lot of money spent on various courses)…I’ve learned the value in simply following through, doing the small things, being consistent day in and day out, and that these things are really the only things that will lead to success in any part of life, especially in e-commerce. I’m done and over with the shiny objects, I just want to commit to something simple and proven to work (dropshipping) and just make it happen no matter what. Ironically, it happens to be the first thing I found and the very first course I bought. If only I would have had the same outlook then that I do now, I would be much farther along.

You are very right though. I bought in at a good time and though I never really finished past the niche selection part first time around, I can see that I saved a lot of money buying back then and got a ton of new updated information and videos. gastroenteritis Very excited to continue my journey and also to continue following along on your journey. Keep it up man.