5 Great Ways to Have a FIFO Exit Strategy

I’m an FIFO construction worker.

Every FIFO worker I know, myself included, loves the paycheck but would love the same paycheck and not have to work remote.

So I’ve gathered up 5 ways of making additional income as a FIFO worker that can be done completely around our tough work schedule. Who knows, you may love the way so much you end up doing it full time and end up doing it as your full-time gig.

Invest in the stock market

Now I already hear you say “No shit, Sherlock – We all know about the stock market”.

Put your extra cash aside & by doing some research in your time off learn the right stocks to buy and sell. I have quite a few FIFO mates who have built up quite a good portfolio, they know so much about the market & have learned it in such a short amount of time it is quite amazing that they stick with their FIFO job.

Don’t do what I did and ran a heavy margin loan & was a bees dick away from getting a margin call….. I didn’t know what I was doing & let an adviser do all my investing.

Do some research and don’t go balls deep straight away. Learn the market – its a wild animal.

The stock market is probably the best way you can get quick cash back from your investment if you need to get some emergency money. Simply sell your shares and the money is in your bank in a couple of days.

OR  YOU COULD DO SOMETHING A BIT MORE VOLATILE BUT EXCITING……

I have started investing in Bitcoin & I also use my Bitcoin, put it to work & earn profit from my Bitcoin.

You can check out what I am doing here

 

Real Estate

Yep, the trusty real estate market. Buy a house and rent it out. There are thousands of courses you can do on real estate investing & I know bugger all about it, and don’t plan to know about it.

I do have some FIFO mates who have bloody heaps of properties that they have an agent look after their properties.

I also have a few mates that have tried to do it without an agent & end up in all kinds of trouble. So if you are FIFO, then get someone to look after the whole thing & just collect your rent – it’ll save you all kinds of heartache.

This is very much a long term strategy and can be very difficult to get your hands on quick cash if you run into trouble.

One real hard core guy to get info on Real Estate investment (Might be a bit too full on in your face for you – but who know – you might like the guy) is Grant Cardone – I’d suggest subscribing to his Facebook Page, YouTube Channel or his Podcasts.

Hire Equipment

I know plenty of guys that do this. Buy some equipment that the company you work for needs and are going to hire it anyway, so they may as well hire it from a current employee. This can be a great money spinner for you, and if the equipment is on your site you can see if its being looked after.

Right now there are yards and yards of gear for sale, so if you can lock in a good job that you can hire some machinery on you may be able to pick up some good cheap equipment and get it paid for quick.

Yes you can make some good coin from doing this, but people are rough on gear so the upkeep could be expensive & at the end of the job you are stuck with the equipment & many times are not very easy to offsell for a decent amount.

 

Renovate

This one can be very tricky for the FIFO worker & is probably not good for the guys that do long swings. However many people renovate houses and turn them over for a tidy profit & a lot of people don’t do any of the work themselves.

Organize tradies to come in and do the work when you are at work then on your break you can organize the next lot of work to be done. Because you have days off during weekdays its much easier to deal with tradies than on weekends.

Not only can this be profitable it can be a lot of fun too.

Online Business

The beauty of the internet is that it never sleeps and you don’t have to be there to make money from it.

Most FIFO camps have internet access of some sort & it doesn’t take much to do something for your business at the end of your day.

This is my preference – And its what I do.

I have a blog (well…. this site), I write posts & direct traffic to my site where I sell things and make a commission on. The beauty about it is that my blog is there forever. I write a post, I have a link to sell something & it is on Google for people to find. Or I can re-post it on social media

Another awesome thing is many of the things I sell have monthly costs that I get a commission on every month, it may not be much but they add up and more and more people click on the links and buy my stuff & I don’t have to do any more work – the money just keeps on coming in – Its an amazing thing called “residual income”!

Plus you can have access to products that you can receive high commissions. I have freinds that all they do is sell high commission products.

Because the Internet is this huge crazy thing, I have found its very important to get involved with a team that has one vision and can help each other out. I find it very very helpful as a FIFO worker to be able to be part of a team thats able to help.

I’m learning a lot of my online business skills from my 2 good friends & mentors Paul & Mike who started the Home Business Academy – you can check them out here.

As mentioned above I am using Bitcoin as a great way to earn a side income – it is also a business opportunity… you can check the business opportunity out here

It is also a team build & I am working with Mike from the Home Business Academy in this business opportunity with Bitcoin – its possibly the most exciting opportunities I have ever seen

So pretty much you have plenty of different options on making a bit extra money & creating an exit strategy for yourself to be with you Family. There are no get rich quick schemes or anything that will involve no work, all of these options involve time & effort but are all able to be done by a FIFO worker. You just need to work out which one suits what you want to do best.

I hope I have sparked an interest in something for you to think about. We all want to make more money, heck, that’s why we work FIFO, so these are a few ideas you can do.

If you know of any other ways a FIFO worker can make additional money & plan on an exit strategy then please leave your comments.

  • Great information Alex! I love the options. Options are so important because people are different. Personally, I like having a leveraged business that creates residual income because of the long term on going wealth that comes from it. Then I like to invest in the stock market, trade forex and also invest in real estate. I believe that true wealth is built with a combination of the options also keeping you from having all your eggs in one basket. Thanks!

  • bill

    wow I cant believe you just wrote and article that said you direct traffic to sites for a commission and actually put one of those links in it.. bravo

    • Thanks for the comment Bill!
      It sparked me to update the post because I have changed lots of things.
      I have no problem with putting my affiliate links anywhere – especially on my own blog.
      I have actually update the blog post with new affiliate links to my new opportunities… feel free to check them out 😉