How to Find Purpose and Passion (and Make Money from it) - Dividend Income Investor (2024)

Find purpose and passion, then make money from it. This article explores how to turn your passion into a purposeful career.

Let’s say you’re feeling aimless, directionless, unhappy, unsatisfied, or passionless.

In my opinion, it’s probably because you haven’t found your purpose in life.

Because when your life has a purpose and a true responsibility, most of the pointless sh** fades way.

There isn’t enough time to worry about comparisons to others, trivial bullsh*t, or to get angry at the stupid things people say on social media. You just don’t have the time or energy to spend on it, because you are already so dedicated to your purpose, and life is too short.

Of course, the problem is finding your life purpose and discovering your passion. It’s not easy at all.

People expect teachers, managers, companies, politicians, family and friends to guide them to their purpose. But the truth is that nobody really cares about your purpose—nor should they. Finding your life purpose is your own responsibility.

So, how does someone find purpose? And perhaps even more importantly—how do you make money from it?

Let’s take a look at how to find your purpose and discover your passion. Later on, let’s look at how to profit off it and make it your career.

How to Find your Purpose and Passions – Discover Passions First

Life purpose can mean a lot of different things to different people. To me, purpose and passions are the same thing.

To find your purpose, you must know what you are passionate about.

As for your passion, it is a combination of your personal interests, skillset, and the causes you care about in life.

In other words, your passion is what you can’t not do. It’s what you think about all the time.

Therefore, the first step to find purpose is spending time thinking about what you are passionate about.

Start by observing what you have been drawn towards in various settings over the course of your life. Look for patterns.

For example, I was always drawn to entrepreneurship, working for myself, new technology, business marketing, writing, documenting, and I am very analytical, so blogging is a natural fit.

In addition, you can listen to feedback from others about your skills and abilities. What have you received compliments on the most, even though it seems effortless to you?

And most importantly, what do you spend time on for free? What can’t you wait to do on the way home from work?

After pondering these questions for a while, create a list of your passions.

Narrow down Passions to find Purpose

To be truly fulfilled by your purpose, it must be a passion that you are good at.

If it is not a passion you are good at, you won’t be able to make money from it, nor will you be able to cause enough change for your contribution to be meaningful. So it remains unfulfilling.

At the very least, it must be a passion that you have some natural talent at. You need enough natural talent and dedication to become good at it.

So, the second step to finding your purpose is narrowing down your passions to what you are talented at. Be honest about your strengths and weaknesses. As much as I would love to be a professional basketball player, I do not have the natural athletic ability to become great at it.

Once you narrow down your passions to the passion that you have some natural talent at, it’s time to start dedicating yourself to it.

How to Find Purpose and Passion (and Make Money from it) - Dividend Income Investor (2)

Turning a Passion into a Purpose

Purpose is defined as the following:

“the reason for which something is done or created or for which something exists.”

For some people, this could be having children. They exist to have children, to be great parents, and to raise contributing members of society.

For someone like Elon Musk, it could be changing our transportation system forever or making it possible to travel to Mars.

In my case, I want to help people build alternative income streams so they can reach financial independence. I want to help people find purpose, passions, and a more meaningful way of life.

Noticing a pattern?

To turn a passion into a purpose, it must be able to help others or contribute to society, and it must become a responsibility. It must be something you are committed to.

Consequently, to turn a passion into a purpose, you must dedicate your life to the purpose, so that it becomes a responsibility. It must help others and contribute to society, and you must have enough natural talent to become an expert.

After a long enough time working on your craft, you will become dedicated and feel a responsibility to improve and constantly work on it. Thus, you have turned a passion into a purpose as you have given it a reason to exist.

Why YOU MUST make Money from your Purpose and turn it into a Career

So now that you have discovered your purpose, it’s time to turn it into a cash flow machine or career.

Why, you ask?

Isn’t it a display of the worst part of capitalism to try to make money from a purpose or cause?

No, in my opinion.

Because if you care about something enough, it can’t just be a side hustle.

The reason you must make money from your purpose or cause is so you can become an expert at it.

Even if your goal is not financial independence or to make money, you can do a better job and spend more time on it if it becomes a career.

So, making money from a purpose is not necessarily about greed. It is the only way to be truly dedicated.

How to Find Purpose and Passion (and Make Money from it) - Dividend Income Investor (3)

How to Start Making Money from your Purpose – Or turn it into a Career

The short answer is hard work.

But it depends on learning styles, capability, self-awareness, education level, current chosen field of work, and the purpose itself.

To begin, you must be self-aware enough to consider all options.

For example, there are many different ways to make money from blogging, but I’m not good at all of them. I am not a natural public speaker and I don’t like being on camera, which is why I focus on written content.

Also worth noting, even if you’re not good enough to become the best at something, you can still work closely with it and make it a purpose. An example would be becoming a massage therapist that works for a basketball team, if you love basketball but are not good enough to become a player.

So, you should explore all avenues to make money from your purpose.

Then dedicate yourself to improving, learning, working, and knowing everything there is to know about your passion.

Once you spend enough time on it (5 to 10 years), you will know all the different avenues to make money from it, and you will gain the confidence and know-how to pursue them.

Essentially, I am suggesting that you work as hard as possible at your purpose for 5 to 10 years no matter what. Soon enough income options will appear, unless you select the wrong purpose.

Frankly, you must be willing to fail over and over again until it works.

My Story

For those that don’t know, I quit my job as a stock broker in 2016 to take a year off work. That was ultimately how I discovered my purpose, but it goes back a lot further than that.

I always knew I had to be an entrepreneur to be satisfied. It had to be something creative and personal based on how I like to work.

Unfortunately, though, I didn’t have the leadership capabilities or ability to properly execute business decisions when I was younger. I am the type of learner that needs to fail to learn.

So, after my early attempt at entrepreneurship failed, I found a career in banking.

Then everything around me slowly began to cave in. I became anxious and depressed because I was unsatisfied with my job.

I was angry, directionless, unhappy, unsatisfied, and purposeless. To put it bluntly, I was just a cog in the bank’s system passing time.

Then, during the worst time of my life, I quit. I just didn’t want to go to work anymore. So I didn’t.

But there is always a silver lining. The time off led to finding my life purpose.

I began spending all my free time on investing, blogging, and reading about financial independence. I realized that flexible work arrangements are better for me, and that I wasn’t interested in climbing the corporate ladder.

In turn, by the end of the year, I had dedicated myself to financial independence through blogging and investing. It has been a long journey, but I am beginning to make money from blogging, my investment portfolio spins off $600 per year, and I transitioned to a high paying part-time job to begin my slow FI journey.

My life is more purposeful and intentional than ever.

How to Find Purpose and Passion (and Make Money from it) - Dividend Income Investor (4)

Final Thoughts – How to Find Purpose and Passion – Then Make Money or a Career from it

Ultimately, I wrote this post because financial independence is about finding purpose. It’s not about a net worth target or becoming wealthy. It’s about owning your time and using money as a tool to get what you want from life.

And in my experience, the best way to live a more meaningful life is to find purpose and passion.

In conclusion, it’s possible to find purpose by turning passions into a purpose, if:

  • Your passion helps others or contributes to society
  • You dedicate years (5 to 10) to becoming an expert at it
  • You are good it it

Moreover, turn your purpose into a career or make it profitable so you can spend more time on it and truly become an expert at it.

Now I’d like to hear from you.

Do you feel like you found your purpose? What is it? Should purposes and passions be turned into money making opportunities?

Let me know your thoughts in the comments below.

I am not a licensed investment or tax adviser.All opinions are my own.This post may contain advertisem*nts by Monumetric and Google Adsense.This post may also contains internal links, affiliate links to BizBudding, Amazon, Bluehost, and Questrade, links to trusted external sites, and links to RTC social media accounts.

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How to Find Purpose and Passion (and Make Money from it) - Dividend Income Investor (2024)

FAQs

How do investors make money from dividends? ›

Dividends are payments a company makes to share profits with its stockholders. They're one of the ways investors can earn a regular return from investing in stocks. Dividends can be paid out in cash, or they can come in the form of additional shares. This type of dividend is known as a stock dividend.

How can some investors use dividends as a major source of personal income? ›

Some investors use these dividends as a form of income. Other, usually longer-term investors like to take those dividend payments and reinvest them, thereby boosting the return they earn on the stock.

What is a dividend Why would investors be interested in them? ›

These are payments publicly traded companies may make to shareholders and can take the form of cash or additional shares, known as stock dividends. There are several reasons investors look to dividend stocks: Most pay out quarterly, which can provide relatively reliable income.

How to be a successful dividend investor? ›

In investing, it's often just as important to avoid doing unwise things as it is to actively do smart things.
  1. Find sustainable dividends. ...
  2. Reinvest those dividends. ...
  3. Avoid the highest yields. ...
  4. Look for dividend growth. ...
  5. Buy and hold for the long term.
Jan 12, 2024

How much money do I need to make money from dividends? ›

Here's a breakdown of how much you would need to invest based on different yields: For a 2% dividend yield, an investment portfolio of approximately $2,969,200 is required to generate $59,384 in annual dividend income.

Can you become a millionaire from dividends? ›

So, Can You Get Rich Off Of Dividends? Dividend investing can indeed be a path to building wealth over time. By harnessing the power of compound interest and carefully selecting dividend-paying stocks, investors can create a growing stream of passive dividend income.

What is the safest dividend stock? ›

Top 25 High Dividend Stocks
TickerNameDividend Safety
ENBEnbridgeSafe
EPDEnterprise Products PartnersSafe
VZVerizonSafe
CCICrown CastleBorderline Safe
6 more rows
May 10, 2024

Which stock pays the highest dividend? ›

10 Best Dividend Stocks to Buy
  • Verizon Communications VZ.
  • Johnson & Johnson JNJ.
  • Altria Group MO.
  • Comcast CMCSA.
  • Medtronic MDT.
  • Duke Energy DUK.
  • PNC Financial Services PNC.
  • Kinder Morgan KMI.
May 3, 2024

What type of investors prefer dividends? ›

Different investor types tend to have a preference for how excess cash flow is returned. For example, investors who desire supplemental income, such as retirees, often prefer to receive dividends. A dividend is a real cash payment, which the investor can then use to spend however they wish.

Should I be a dividend investor? ›

Dividend investing can be advantageous for those seeking steady income, such as retirees, as well as those who wish to take advantage of the compounding effects of reinvested dividends over the long term. But like all investment strategies, it comes with benefits and risks.

Why do people like dividends? ›

There are a couple of reasons that make dividend-paying stocks particularly useful. First, the income they provide can help investors meet liquidity needs. And second, dividend-focused investing has historically demonstrated the ability to help to lower volatility and buffer losses during market drawdowns.

What is the fastest way to grow dividend income? ›

Setting Up Your Portfolio
  1. Diversify your holdings of good stocks. ...
  2. Diversify your weighting to include five to seven industries. ...
  3. Choose financial stability over growth. ...
  4. Find companies with modest payout ratios. ...
  5. Find companies with a long history of raising their dividends. ...
  6. Reinvest the dividends.

Who is the best dividend investor of all time? ›

It's no wonder why investors closely monitor Warren Buffett's portfolio. He is arguably the greatest investor of all time, and he has doled out some of the best investment advice over the years.

How much to invest to get $1,000 a month in dividends? ›

In a market that generates a 2% annual yield, you would need to invest $600,000 up front in order to reliably generate $12,000 per year (or $1,000 per month) in dividend payments. How Can You Make $1,000 Per Month In Dividends? Here are the steps you can take to build yourself a sufficient dividend portfolio.

How much can you make in dividends with $100K? ›

What Can You Make With $100K in Dividends?
Dividend YieldAnnual Dividends from $100K
1%$1,000
2%$2,000
3%$3,000
4%$4,000
6 more rows
Feb 16, 2024

How long do you have to hold a stock to get the dividend? ›

If you buy a stock one day before the ex-dividend, you will get the dividend. If you buy on the ex-dividend date or any day after, you won't get the dividend. Conversely, if you want to sell a stock and still get a dividend that has been declared, you need to hang onto it until the ex-dividend day.

How to make passive income from dividends? ›

Dividend stocks and funds

Companies don't have to issue dividends, but many do as a way of rewarding and enticing investors. You can create passive income from dividends by investing directly in dividend stocks or by investing in dividend mutual funds and exchange-traded funds (ETFs).

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