From my personal experience, as well as speaking to thousands of investors, I’ve found that the only true way to create passive income is through real estate investing. And the only way to embark on this journey is to discover your Freedom Number. Once you understand this number, you’ll be able to effectively plan your way to financial freedom.
The Financial Freedom cheat sheet was born out of my own frustration. I was in a financial struggle. My situation was not dire; my bills were paid, but at the end of the month, I wasn’t saving anything.
Does this sound like you? Many of us blindly follow the ideal that society tells us: work hard every day, commute for two hours, and set aside some funds in a 401k, and your retirement will be paid for.
This simply isn’t true. The average 401k holds $70,000 at retirement age. Can you live off of $70,000 for the rest of your life? Of course not.
If you want to reach your financial goals, you’ll need to take a closer look at your expenses, and calculate the exact amount that you’ll need to feel secure at the end of the month.
Many people wish to be millionaires, but simply put—we don’t need a million dollars. One million is an arbitrary number. You don’t need to be a millionaire to be financially free. Achieving financial freedom means having all of your expenses covered, even if you were to suddenly lose your job.
Let’s get specific. By uncovering your Freedom Number, you’ll have an exact number of the number of real estate properties you’ll need to obtain to have your expenses covered. I think you’ll be surprised at how few properties it will take for you to reach financial freedom.