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 startContinue reading “Why You’re Not Financially Free: Part 5”
Category Archives: Income Streams
How’s That Working Out For You?
New Year’s resolutions. Ah, January! That reflective time of the year when we reevaluate our career, goals, and relationships. When we look at the scale in the bathroom and sigh. When we sign up for an annual gym membership and only use it for three weeks. Many of us set new year’s resolutions. Yet, ifContinue reading “How’s That Working Out For You?”
Retirement vs. Financial Freedom
Let’s make a distinction. Being financially free does not mean that a person is retired (although they could be). Being financially free simply means one thing: Your monthly passive income exceeds your monthly expenses. This means a janitor who created $3,000 in monthly passive income to cover $2950 of monthly expenses is technically financially free.Continue reading “Retirement vs. Financial Freedom”
Why You’re Not Financially Free: Part 4
Problems with the middle-class strategy. If you call up your typical brokerage firm, they’re mostly going to all say the same thing: Put money into an IRA or 401k, invest in index funds, and pay off as much debt as you can. Then, after slaving away 40 hours a week for the next four decades,Continue reading “Why You’re Not Financially Free: Part 4”
My CEO Has This Saying
“Your job is to save people from themselves.” When I first started down this path to financial independence well over a year ago, my CEO said this simple phrase to me. “Jay, your job is to save people from themselves.” Mind you, he was saying this well before I started networking for him like IContinue reading “My CEO Has This Saying”
My Last Day Working 9-to-5
I’ll never forget the day I quit my day job. A while back I had my last day of working a day job. Praise God. I had finally created enough passive income to cover my monthly expenses (and then some). I had enough in savings to be comfortable. This was it. There’s no turning backContinue reading “My Last Day Working 9-to-5”
Why You’re Not Financially Free: Part 3
You’re driving the wrong car. Imagine pulling up to the Indie 500 in a 4-cylinder sedan. And you’re here to race! You want to get ahead. To win! To come in, perhaps, in the top ten. With that vehicle? Sorry, pops. No dice. Want to get ahead in wealth creation? You’re going to need aContinue reading “Why You’re Not Financially Free: Part 3”
Stop Giving Your Money Away
It’s just that simple. When I was in my 20’s I purchased a game by a well-known financial guru. It was a board game that taught you how to become financially free (i.e., your monthly income exceeds your monthly expenses). It starts similarly to the classic game of Life, where you are a banker, doctor,Continue reading “Stop Giving Your Money Away”
What is Risky?
A common claim that you will hear when discussing wealth creation is that certain financial strategies are “risky.” Of course, certain financial vehicles are indeed risky. Some carry the risk of unlimited losses. Others have an extremely low probability of paying out. Others will lose their value at an exponential pace. The savvy individual, however,Continue reading “What is Risky?”
True Passive Income 