Having just graduated in the midst of a global pandemic where news of retrenchments being announced almost daily does not really bode well for us fresh graduates. Just last year, I finished my internship in Predictive Analytics and was gearing up for a career that could incorporate data science and my majors in Economics and Finance. The path now does not seem so clear anymore. As the events of the pandemic unfolded, I began to question the reliability in the model of a corporate 9–6 job. Being employed may not be as risk-free as I thought. We may slog at our desk being overworked and underpaid, only to be issued a severance letter when the company faces some hardships.
This got me thinking: if businesses are not able to withstand a year of economic downturn without going under, how are we, as individuals, able to support ourselves through retirement? Aren’t they at a more advantageous position than we are? Aren’t we more vulnerable?
Risk. Either way, we are taking a risk. Upon careful considerations, I have decided to take a path less traveled. I am fortunate enough to have no student debt, being able to live rent-free with my parents, overall not having financial responsibilities. This is my unfair disadvantage (a great book by Ash Ali) and I would like to utilise it. Thus, I have decided to be an entrepreneur.
Great. What now? Unfortunately, there is no manual for this. I love it. Life is now a plain canvas and the decisions I make will alter the course of this journey of self-employment. This is why I am writing this article, it is to try to reduce the elusiveness of being your own boss.
What exactly is the plan?
Well, I am glad you asked. I would like to generate multiple streams of income and here is a quick overview of what I plan to do.
- Forex Trading
- Dividend Investing
- E-Commerce
- Consulting
- Affiliate income through YouTube and Medium
All of which I plan to document and reflect upon weekly on YouTube and here on Medium. This would a series titled Zero to One.
I have been trading for about 8 years now and it is something I am truly passionate about. This is something I would do even if I were employed. I am expanding my strategy now by incorporating machine learning models for algorithmic trading. Additionally, I plan to offer a free trading course on YouTube.
Dividend investing in my opinion is the solution to retirement. I feel that it is something everyone should do. It is a long term strategy and like trading, it is something I would do even if I were employed. I would have a series similar to Joseph Carlson, my man is doing a really good job and hope to be as good as him!
E-commerce is a tough cookie. A lot of gurus claiming that they are able to make bank and live a passive income lifestyle through dropshipping and Amazon FBA. It is not that I buy into it, but I do see the potential. I know that it is not going to be passive, but it is for sure going to be rewarding if we can scale it up. I have actually launched 3 stores and failed miserably during the lockdown in my country, but I enjoyed the process and picked up a lot of skills! Excited to apply the knowledge gained from school like competition analysis and various industrial economics models.
As I take my time to grow and equip myself with knowledge and expertise, I plan to expand my income by offering consultations.
Contingencies
I would like to still remain employable in the event in which I fail and have to look for a job. I am writing the CFA level 1 paper in December this year, and I have also been preparing for the Google TensorFlow Developer Certificate.
Closing words
I am very excited to embark on this journey and have been enjoying every moment of it. If you are keen to connect, you can find me on LinkedIn. I know that I seem like I am doing a lot, however to me these are all passion projects and I get excited when I am able to work on them. All that’s left is to be able to make a living doing what I love.
