I wished I knew this earlier.
This entire game, becoming financially free and creating passive income, is all about who you know.
When I was younger, I thought, “If I just had the right skills. If I just knew how to trade stocks or how to flip houses. If I just knew how to start my own business and make it work, then I’d be financially free!”
So, I gave it a go. After some time in the Army, I bought my first business. It failed. I did my best to recoup and gave a shot at trading: Stocks, mutual funds, options, forex, oil, commodities, even a bit of automated trading systems. More and more failures. I bought a real estate course from a top guru and failed. Are you seeing a pattern?
I thought if I could just get the right knowledge, the right skills, the right secret sauce, then I could create an income for myself that didn’t come from a job.
I couldn’t have been more wrong. This entire game is about who you know.
Unless you have mad skills.
Mind you, there are some people who have the technical knowledge to be financially free purely on their skill. I know a guy who is big into crypto trading (which I don’t recommend). He has a couple of trading bots that he employs into the markets to trade for him. It’s mostly hands-off as he lets his algorithms do the work. We actually set up a video call for him to walk me through his entire process, as I was quite curious about his system.
It took a grand total of three minutes for me to be thoroughly confused. Mind you, I’m not very tech-savvy. Making a Youtube video is a chore for me, and the quality of my production is, well, rather low. Regardless, his walk-through was a maze: “Well, you’ll need a VPN, first,” referring to what is a virtual private network. “Then we’ll need to open up our trading system. One sec, I need to get through this encryption code first. Okay, here we are. Alright, now, let’s open up our bot.”
I was perfectly lost as he blazed through six screens in about two minutes.
God bless those people.
If you have a genius-level IQ, if you can build an app and sell a million copies of it for a few bucks, or if you can create the next Paypal or Square, congratulations. You’re on an entirely different level. I wish you all the success in the world. These types of individuals are true entrepreneurs. They are the best of the best.
What about everyone else? Does your everyday joe need some education? Certainly. Honestly, though, it’s very little. Some eighth-grade math will do, along with a few books on the basics of wealth creation (I recommend The Richest Man in Babylon, The Millionaire Next Door, and Rich Dad, Poor Dad).
Outside of that…
It really comes down to who you know. I’ve been blown away by the quality of people I’ve met since I started networking. Need a brilliant accountant? I got one. Want to put your money into a real estate project for a great return? I know a guy. Need some top-tier life insurance? One sec. Need a website built? I have a good friend. Do you have the right business structure to legally reduce your tax liability? I have someone you need to meet. The list goes on.
Especially my CEO. “Hey boss, I have $30,000 that I’d like to put into motion with you in a few weeks. Can we do another 25% APR for 36 months? Great. Send the contract over whenever you can.”
How would you like to have someone like that in your network?