How To Retire At Forty

I turned 30 last December and it really got me thinking about my plans for the next ten years.

“A job isn’t something that you enjoy. its something that you turn up to, in order to pay the bills.”

This is something that my dad said to me growing up. At the time when my dad said this to me it didn’t make much sense. Now that I myself am a father and husband it makes even less.

I remember my dad wasn’t the happiest person growing up. Spending 40 hours a week doing something that you really dislike probably does that to a person.

Since September of 2017 I returned to full time work. Anyone that does matched betting and arbitrage will know that you make about 70-80% of your profits on the weekend. Whilst casino offers can be done pretty much anytime. So I made the decision to go back to work four days a week. Financially it made a lot of sense.

Now I don’t hate my work. It has some positives but probably like most people I don’t really enjoy being there.

Do I want to be there for the next 10 years of my life?

Fuck no.

I would love to be able to work part time doing something I enjoy and have other investments subsidize the loss of a full time wage.

How To Retire At Forty

My plan is to become financially self sufficient by the time I am forty.

By reinvesting the money I make from trading, betting and arbitrage. Alongside creating other more passive of income much like this blog.

To maintain my current lifestyle that would mean I would need to make around £30,000 a year. However that is a low estimate and obviously a lot could change in the next ten years.

Most people would agree that your output is dependent on the things that you are inputting into your brain. 

The majority of what I read online comes into these categories.

Entrepreneurship

Passive Income

Early Retirement

Frugality 

So that should put me in pretty good stead but I don’t really put enough of what I read into practice.

For example if I look at entrepreneurship. I like most people have had hundreds of ideas over the years for a potential business or passive income. Not saying they were all great.

But how many have I actually acted on?

Two………………..

This blog being one of those. Even then it took me about two years between actually thinking about writing a blog around making money from sports betting. To actually buying a domain and writing content.

The second was ramping up my matched betting/arbitrage operation. Which in hindsight has probably cost me a lot of money as the value of offers has decreased over time.

This is something that I am going to tackle this year. Be way more active in attempting to produce further incomes. Outside of the sports betting markets.

Embracing Frugality

There are various early retirement calculators out there.

For example this one from networthify.

But the premise is pretty simple. Have more money coming in then is going out. Invest your savings and allow compound interest to keep adding up. Eventually it will get to the point where the interest from your savings will cover your expenses.

Now of course that are a lot more variables to look at. Everybody has different lifestyles, assets and expenses. 

However it seems like the most accessible way for most people to get to early retirement (myself included) is by saving money.

I have always been a pretty frugal individual. Even before I started playing poker and betting/trading I had a pretty good idea of value. You can ask my wife what a cheap skate I am.

“£10,000 on a wedding? Seems kind of stupid for something that lasts one day.”

“£500 for a watch. My phone can tell the fucking time.”

So yeah frugality or being a cheap son of a bitch as others may call it comes pretty naturally to me.

What doesn’t come naturally to me is the boring aspect of saving. Switching insurance, gas, electric, internet providers. I know that potentially this will save me hundreds over a year. So as I write this I am noting it on my white board of things to get done by the end of the week.

Increasing My Areas Of Income

I currently have three incomes.

My betting and trading portfolio

You can read more in depth about this here.

My job

There is room for progression but it would have a negative effect on both my betting and trading portfolio. Alongside this blog and any further projects I would like to work on. I have always viewed my work as something that pays the bills. While I try to scale up my ability to make an income from my online incomes. Whether this has/or will pay dividends in the long run I am not too sure.

This blog

Smartsportstrader.com is probably the area of income that I could scale up the most. I currently make a small revenue from this site. Mostly by being an affiliate for both Oddsmonkey and Profit Maximiser. Two services which provide the tools for making good money from the sports betting markets.

The beauty of the internet though is that there is always a broader audience to reach out. Whilst I am quite happy with the regular stream of traffic I get to this blog. I have become a little lazy with it. When there was only 10 or 20 people a day reading it. I was much more consistent in putting out content. Now there are a few hundred visitors a day I generally put up something once or twice a month.

Sam Priestley wrote a great blog post called Ethical online business – make money whilst sticking to your morals.

This really sums up how I feel about affiliation in the sports betting world. The people that make the most money are the ones that exploit problem gamblers. Be this tipsters promoting bookmakers on a revenue share or review sites highlighting tipsters that have had one great month but are overall going to lose money.

You can make way more money exploiting the undisciplined punter. Rather then showing that in order to really make money from the sports betting markets. Discipline and a long term view are key.

The truth is there are only a few good services that really offer value. So my options for increasing revenue to this site ethically is really to reach a broader audience and keep plugging matched betting, arbitrage and trading.

Retiring Early

Are you aiming to retire early? Maybe you have accomplished your goal of early retirement?

If you have any good resources or advice share them in the comments.

Here a few resources that I found helpful 

The shockingly simple math behind early retirement

Early retirement made easy

Small business resources

Create multiple passive income streams

 

 

Smart Sports Trader

Ryan Bruno is a former mixed martial arts and kickboxing competitor. He loves sports and making money online. After finishing university he played online poker and taught English for a living in Thailand for a few years. Upon returning to England his focus has been on making a living from sports trading, betting and arbitrage.

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About Smart Sports Trader 103 Articles
Ryan Bruno is a former mixed martial arts and kickboxing competitor. He loves sports and making money online. After finishing university he played online poker and taught English for a living in Thailand for a few years. Upon returning to England his focus has been on making a living from sports trading, betting and arbitrage.

5 Comments

  1. I also like Sam Priestley’s blog, especially his take on both being lazy and having ethics/morals with marketing.

    We’re pretty much in the same boat, in regards to the sports betting niche and ethics/morals. Sure, it’s easy to lie and fake screenshots and promote any sportsbook or tipster service out there, but you have to sleep at night. You wouldn’t be building something that you’re proud of. It’ll take longer, but eventually it’ll happen.

    Look at Sam Priestley. The man is successful, even though he’s lazy and sticks to his morals. That’s my goal as well.

    I also still have a day job, but with no career aspirations. It’s just a job; something to pay the bills until my site eventually takes off.

    Great post!

    • Cheers

      Yeah Sam Priestley’s blog is excellent.

      I think your right about playing the long term game. Building trust with your readers and looking at adding value.
      Rather then just trying to fleece people with marketing bullshit and false promises.

    • haha, well the post is really just about trying to be more productive and make money go further.
      The retire at forty is just a goal to put out there.

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