First published 2011 by Wrightbooksan imprint of John Wiley & Sons Australia, Ltd 42 McDougall Street, Milton Qld 4064
Office also in Melbourne
Typeset in 11/13.5 pt Berkeley
Serena Star-Leonard 2011
The moral rights of the author have been asserted
National Library of Australia Cataloguing-in-Publication data:
Author: Star-Leonard, Serena.
Title: How to retire in 12 months: turning passion into profit / Serena Star-Leonard.
ISBN: 9780730375166 (pbk.)
Notes: Includes index.
Subjects: Retirement Planning. Retirement income.
Dewey Number: 646.79
All rights reserved. Except as permitted under the Australian Copyright Act 1968 (for example, a fair dealing for the purposes of study, research, criticism or review), no part of this book may be reproduced, stored in a retrieval system, communicated or transmitted in any form or by any means without prior written permission. All inquiries should be made to the publisher at the address above.
Printed in Australia by Ligare Book Printer
Cover design and illustrations by Josh Durham www.designbycommittee.com
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Disclaimer
The material in this publication is of the nature of general comment only, and does not represent professional advice. It is not intended to provide specific guidance for particular circumstances and it should not be relied on as the basis for any decision to take action or not take action on any matter which it covers. Readers should obtain professional advice where appropriate, before making any such decision. To the maximum extent permitted by law, the author and publisher disclaim all responsibility and liability to any person, arising directly or indirectly from any person taking or not taking action based upon the information in this publication.
For John, my muse
and
For my beloved brother Ethan; I miss you
Acknowledgements
This book itself is an acknowledgement of a community of people who have given me endless support, belief, ideas, inspiration, laughs and partnership.
Thanks to my husband John, whose love and support know no bounds. You saw the outcome of this idea the moment it was created and held the vision every second since.
To Dad for showing me pragmatism, business intuition and a strong work ethic. Mum for showing me determination, compassion and the belief that anything is possible. My siblings Indi, Sam, Alana, Ethan, Daniel and Aidan for your unconditional friendship, love, business help, adventures, jokes and crazy laughter.
To Melinda Samson for everything that makes the business possible. Working with you is brilliant and I am so grateful for your partnership. Helen Burrows for everything that you have contributed to this book; you are a real life superwoman.
To James Pettengil for showing me what it is to be an entrepreneur. To Denise Eagleton for my mental health and Claude Fonseca for my physical health when I was struggling, overwhelmed and broke. To Amanda Richards for your generous support and friendship and for having that conversation! To Alex Francisco and Johana Te Momo for jumping into every project, business or charity over the years; you are true friends and kindred souls.
To Mary Masters at John Wiley & Sons for your belief, advice and support in making this book happen.
To all of my clients for being the Passion Seekers and choosing adventurous lives. To the readers, subscribers, customers and contributors of the two blogs thank you for being part of the journey and letting me do what I love for a living.
Introduction
In the beginning
It is 10:30 am. I am lying on my bed, buzzing! The warm spring air is heavy with moisture, and the breeze floating through my open window brings the call of birds and the smell of fresh cut grass. Just as I begin to write, a lawn mower starts up nearby, spilling petrol fumes and noise; the bliss is gone but the buzz remains I have an idea!
After four years cutting my teeth in business, I have formed a cunning plan.
I am going to retire within 12 months!
I will create a low-maintenance income of $2000 a week and I will blog the whole journey in case other people want to do the same.
John (my husband) loves it! He said that it is the best idea he has heard from me and he is thrilled to be there at the genesis of it. That is all the encouragement I need. I am off !
That was 12 months ago. It was part of my first blog, and much has changed since then. On 12 December 2009, with a business partner, I launched a website designed to create a low-maintenance income within 12 months. This would allow me the freedom to do whatever I want I can even pack up, sell up and leave Bondi, where I have been living for the last five years, for some long-awaited travel. Now, 12 months later, for the first time in my life there is a sense of freedom in my plans because Im not tied down to anywhere and I dont have to come back! This is a real change to my lifestyle, and very exciting.
So how did I do it? Well, thats why Ive written this book, to show you how you can take this journey as well. The first half relates to retirement, the mindset and the approach you need to make this lifestyle possible. The second half provides a practical guide to how you too can start your own journey to creating a low-maintenance income focusing on a topic that you are passionate about on the internet.
All of this is based on my own journey, and throughout the book I will share with you exactly what I did to create the business and what worked and what didnt work. The examples I share are all real, from actual businesses run by ordinary people like you and me. And, more importantly, they are mostly from people who had no idea about internet-based business but who were passionate about something and willing to learn as they went.
Life is not always breezy
Everyone has a story that ends with where they are at this exact moment. Your story is made up of the moments that define your experience of living. I wouldnt be where I am today if it wasnt for my experiences and so I have included some of them throughout the book.
My early years had some complications, and then when I was 12 my parents split up and I went from living in posh, high-tech, high-rise Hong Kong with a maid, government benefits and private schools to living in a small flat in a small town in New Zealand with nothing but what we had in our suitcases. Without the financial support we were accustomed to, our situation became really difficult. Alone with five kids under the age of 13, even with three part-time jobs my mum struggled to make ends meet.
My siblings and I were entrepreneurial from the beginning. As well as milk runs and part-time jobs, we made many creative attempts to earn some extra pocket money. I spent a year or two making jewellery to sell to the parents of the kids at school, but more lucrative was all the cheap trinkets we could pick up once a year when we had the opportunity to visit dad in Hong Kong. The profits from what we could carry in silk sheets, watches, clothes and toys was an opportunity not to be missed, and for the few weeks while we sold our stock we felt like kings.
Money madness!
From a young age I have seen money make people crazy; the yearning for it, the having of it and the not having enough of it. My childhood was one of extremes of being wealthy and being poor. As an employee I worked my way up the ladder until I was able to spend several years earning a good wage with lavish, all-expenses-paid holidays in luxurious tropical destinations. Then as an entrepreneur I took a risk and started from scratch once more, tumbling down to rock bottom and working my way u p a gain.