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Escape the Rat Race and find freedom in Financial Independence!

justinrdreyer
Oct 26, 2018
2 min read

Financial Independence

What

Financial independence (FI) is when your passive income equals your expenses.

Why

When you achieve this, you are able to follow your hearts passion without the restrictions of income insecurity. Another way it is referred to is getting out of the rat race that is so common, most are not even conscious they are in it.

How

Play the game Cashflow. If you are in Hot Springs, I host a game weekly.

You will need to invest your money.

Buy a business but own it, do not run it. Find competent employees to run it for you.

Real estate

Hire a property manager if you want to rent it. Go to real estate meetups to learn to flip them.

Side hustles

This could be a service such as handyman or house cleaner, or a hobby like crafting. The demand for local and quality products is on the rise with higher levels of consciousness, but you could also do something more mainstream. Not everyone cares for a handmade wallet, but most everyone wants a car. I have found the more you research your market, the more likely you are chose a lucrative side hustle. But do let fear hold you back, it is common for investors to risk failure. If you fail, take it as a learning experience and try again!

Financial investing

There are many different investing opportunities from investing in another persons start up or actually buying and selling stocks.

After you have invested in a side hustle or other investment. Look at what you are doing to determine if there is anything you can automate to free up more time.

This could look like hiring a competent manager for that small business or a property manager for those rentals.

How to motivate yourself

I recommend you meditate on your passion and know every bit of work goes toward FI. Make a chart and get to WORK!

What I have personally tried

Real estate

When I returned from Iraq I bought two houses that were side by side. I made more money renting them than the note was so I was instantly making money and also building my credit

Cars

I have bought cars and after making some minor repairs resold them.

Crafts

Thanks to Etsy and Pintrest ideas are everywhere for ideas on crafting. I have picked up leatherwork, sewing, and dabbled in blacksmithing.

Here are a few resources that I have found useful

Look up meetups and others interested in FI.

Play a game to learn FI

online

https://www.amazon.com/CASHFLOW-Board-Exclusive-Strategy-Delivered/dp/B00M085AMI-board game

The Four Hour Workweek

Tim Ferris interviews top performs from all over and his book The Four Hour Workweek introduced me to FI

Mr. Money Mustache