Introducing … the Power of a Freedom Fund

One year into freelancing, I was making a very decent income from copywriting. I wrote direct mail, emails, web copy, research reports, and whatever else that came my way.

Things were going well. The money was good. I had a flexible schedule. And I was able to work on projects I enjoyed.

But I'm ready to take things to the next level.

You see, right now I'm making earned income. It’s no different than having a job where you have to keep working to keep getting paid. If I took extended time off for any reason — no money.

What I want is to be free of the need to keep working. I need to work on projects that would make me money over and over again.

This is also known as generating passive income. That’s money that keeps coming in whether or not you’re physically working.

I want to watch my daughter growing up without worrying about paying bills. And I want to spend more time writing fiction and screenplays. Eventually, my husband and I hope to spend part of each year doing missionary work.

But we want to do it with our own sources of passive income to support us.

That’s true financial freedom.

Hence the idea of a Freedom Fund.

As a copywriter, you have many opportunities to create passive income and build up a Freedom Fund. You can write sales letters that generate tens of thousands in royalties. You can write and make thousands from sales of an e-book. You can write a Money-Making Website that will bring in thousands in revenue month after month.

In these examples, you do the work upfront once. You can even combine several options and create multiple streams of passive income.

Then you relax … and get paid again and again and again!

My first goal is to generate 20% of my copywriting income from passive sources of income within the next two years. I’ve allowed a long time because it takes time to build up this type of income.

What about you? I encourage you to set your own Freedom Fund goal. Here are two easy ways:

  1. Set a passive income goal to achieve on top of your existing income.
    For example, I want to make an extra $20,000 a year in passive copywriting income on top of the $80,000 I already earn.
  2. Replace a percentage of your annual income with passive income (like I did).
    For example, I now make $80,000 a year from copywriting. I’d like 25% of that to come from passive copywriting income. That means $60,000 a year in earned income and $20,000 from passive sources.

Once you’ve set your Freedom Fund goal, tell me about it here.

Then, for the rest of the week, I’ll talk about options to develop Freedom Fund income. You can decide which passive income opportunities suit you best!

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Published: June 3, 2013

10 Responses to “Introducing … the Power of a Freedom Fund”

  1. I love the way you framed this, June! The idea of a Freedom Fund resonates with me more than just saying "passive" income. It really does free you up to do some things you really want to do.

    My goal is to be making half my income from passive sources a year from now.

    Steve Roller

  2. I agree. "Freedom Fund" is a much more descriptive and motivating term than passive income.

    My goal has 3 moving parts:

    1. Generate half my income from passive sources within 2 years.
    2. Move to an area where the standard of living is higher and expenses are lower.
    3. Put my earned income into real estate or dividend-paying stocks that generate additional "Freedom Fund" income.

    The result? Higher income. Lower expenses. Increased savings. Less work. And a HUGE smile!

    Great job, June!

    RNin2013

  3. My goal is to build a Freedom Fund of $3,000 a month within two years. I'm interested in seeing your ideas on how to do that. Thank you!

    Linda R

  4. My idea of a Freedom Fund is setting up little online businesses that earns an income on its own.

    I have heard of people setting up multiple websites and living off them comfortably.

    Well, that is just my dream at the moment. I have no idea what those businesses would be as yet but they have to be timeless in order to make sense.

    Any comments?

    Guest (Jonathan)

  5. I love that idea and that's exactly what I am hoping to do. I admit though that I am very early on in this process, so look forward to your posts over the next week.

    Thanks for sharing...

    Jacqueline

  6. Build freedom fund of 4000 per month within 2 years

    Guest (K)

  7. Love the Freedom Fund idea! I've been having the same thoughts lately about always having to work to make an income.

    I'm not crazy about blogging, but have considered it. I don't believe that's a "do the work once and get paid for life" gig.

    You still have to keep writing...maybe just not the intense deadlines.

    I would love to hear some other ideas on how to make that Freedom Fund appear.

    Currently, I just finished a book...keeping my fingers crossed.

    Brett Allen

  8. I would like to get up to $3000/month within two years with a website like you describe.

    I have some ideas (website name, content focus, etc).

    Guest (K Ostby)


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