“Enjoy the little things in life. One day you will look back and realize they were the big things.” — Robert Brault
Do you want to leave your job and stop working?
Are you hoping to have enough cash flow to cover your lifestyle so work is optional or you can cut back to part-time?
That sounds pretty amazing!
I’ve spoken with over 1,500 passive investors, and this subject comes up a lot.
Many don’t know if they’ll generate enough to cover their expenses without working.
This is where cashflow and investing can really come into play.
Today I’m going to reveal a few secrets on how I did this.
A few years ago, I left a $200,000 a year job and was able to retire (I do create resources like this, but it’s by choice).
I’ve seen many people do the same thing.
It’s totally possible.
We’re going to go over everything in three easy steps.
Let’s jump in!
1. Make a Goal
The first thing you need to do is make a goal.
This sounds really simple, but it’s true!
Tony Robbins says it’s in your moments of decision that your destiny is shaped.
Once you decide you’re going to do something, that thing begins to happen.
I said: “I want to leave my job in three years or less.”
At the time, I didn’t know how I was gonna do it, but I took the time to learn.
I figured it out.
That decision opened up the possibility.
I had a few reasons for wanting to leave my job:
I wanted to spend more time with my family.
I wanted to travel more.
I wanted to be creative and create videos and blogs or even write a book.
(Keep your eyes out for my upcoming book, Fire Yourself!)
In order to make a goal, you need to figure out your why.
Keep that in mind.
Ask yourself about the reason you want to leave a job or have the ability to do so.
Once you make that decision, I encourage you to create a vision board filled with things you want to do.
My vision board includes some of my goals and my written mission statement.
One of my personal goals is to finish in the top three for my age group in a Spartan Race this year.
I haven’t accomplished that yet, but I’m working on it.
I also want to help stop human trafficking in the world.
I want to spend more time with my daughter.
I want to develop a closer relationship to God.
Fill your vision board with whatever goals that will motivate you the most.
Keep your board close, look at it every day, and let it help you reach those goals.
You should also think about what your number is.
What number do you need to replace your income?
Replacing income doesn’t need to mean reaching the same number, either.
I didn’t need to reach my old salary of $200,000 for a number of reasons.
If I was a real estate investor, I wouldn’t be paying as much in taxes because of the deductions.
My expenses also weren’t what my income was.
I only needed $60,000 to $70,000 a year to leave my job.
That’s a much easier number to achieve.
After you figure out your number, the question then becomes how you get there.
2. Start Investing in Cashflow Investments
The second thing you need to do to leave your job is start investing in cash flow investments.
There are two types of investments.
Some investments offer appreciation, so you’ll make a lot of money someday down the road.
Other investments offer a mix of cashflow and appreciation.
I am a huge fan of cashflow investments.
Cashflow is how people can leave their jobs and cover their expenses.
In my opinion, cashflow wins every time.
We recently put together a course called Cashflow Accelerator.
You can find the course on this very website.
The best businesses I have seen are ones that cashflow.
We invest in ATM machines, which are great at cashflowing.
They’re a predictable investment, along with oil and gas and car washes.
If you haven’t done much investing, it can feel like a muscle you didn’t know you had.
That muscle can feel sore or weird at first, but once you get used to that sensation, you’ll feel amazing!
3. Ramp It Up
The third thing is to ramp it up.
Once you get started in a new asset class, it does take some time to see any progress.
We have some investors who don’t know if they’ll like being passive in a deal.
We find about 95% of them eventually love being in a passive deal.
This is mostly because they don’t actually have to be the ones who are actively involved in the deal.
They go through those growing pains, embrace the uncertainty, and get used to it.
As the cashflow starts coming in, people realize that the investment is pretty great.
They’re then able to ramp it up and scale it up.
Unfortunately, that doesn’t mean you’re never gonna have a loss.
A lot of us are afraid of this.
What happens if I make a mistake?
What happens if I lose money?
If you invest long enough, you’ll probably have some loss eventually.
I like to think of it this way:
If the stock market goes down by 20%, we don’t think much of it.
That’s just the way the market is.
But if we have a loss of 20% in an investment, it’s the worst thing ever!
Prepare yourself for those moments.
Loss will always happen.
The biggest investment is not in growing your portfolio, it’s in your own education.
Brian Tracy says: “To earn more, you must learn more.”
It rhymes and it’s catchy, but it’s also so true.
When you educate yourself, you’ll know what the risks are.
You’ll have that muscle developed and be very comfortable using it.
The greatest goal is learning.
When you have knowledge, you’ll have the choice of whether you want to leave your job or not.
You can make that educated decision.
During this time, you should be aware that time is important.
If you are able to develop financial freedom, it allows you to have time freedom.
When you have time freedom, you can do what you want, when you want, with the people you want to be with.
Sounds pretty fantastic, right?
Leaving my job gave me the flexibility to do whatever I wanted.
Having passive income allows you to choose how you want to interact with all life has to offer.
I hope you get a hold of what your dream is, make that decision, and go for it!
Now I want to hear from you.
What’s your plan to start your passive income journey?
Let us know in the comments.
Before you leave, make sure to check out our special report about inflation investing. It shares the best choices to invest during an inflationary environment.
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Disclaimer: I am not your investment advisor. This is for educational purposes only. I am not giving specific advice on what you can do. I am simply giving my opinions.