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True Freedom Comes From Consistency
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Buying a Ferrari or a Lambo is attractive. Sexy. And what isn't sexy? Purchasing a property that nobody knows about that doesn't look nice and is located in a mediocre neighborhood.
But you have to do it. Because in ten years, when you have multiple houses, some of them are even paid off, that becomes really sexy.
Using your active income, the money from your day job, to invest in boring stuff like real estate will accumulate over time. Eventually, you will have a substantial and predictable cash flow.
The boring investments will grant you the money to buy the Ferrari, the Lambo, and all the cars you like.
At the same time, you don't have to wait till you're half-dead to enjoy your money.
But you also don't want to be stupid with it.
In this episode, we share our thoughts on how to invest in boring stuff to buy sexy goods while retaining all the freedom you want to have in your daily life.
"True freedom is when your living expenses are surpassed by activities that don't require any energy from you. That's true passive investing." - Bob Thompson
In this episode:
- Start investing in real estate when you are young
- Having financial knowledge will help you get ahead
- Spend your time wisely developing your skills
- Mediocrity is failure
- Don't delegate your tasks too quickly
- Difference between revenue and profits metrics
- People starting a company may not be the same people taking it to the next level
- Consistency leads to success
- A spectrum of people who spend every penny and people who save everything
- Making money vs. preserving money
Resources:
- Book “The Simple Path to Wealth: Your road map to financial independence and a rich, free life” by JL Collins - https://www.amazon.com/Simple-Path-Wealth-financial-independence/dp/1737724103/
- Book “Ready, Fire, Aim: Zero to $100 Million in No Time Flat” by Michael Masterson - https://www.amazon.com/Ready-Fire-Aim-Zero-Million/dp/0470182024/
- Book “Good to Great: Why Some Companies Make the Leap and Others Don't” by Jim Collins - https://www.amazon.com/Good-Great-Some-Companies-Others/dp/0066620996
- Book “ Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!” by Robert T. Kiyosaki - https://www.amazon.com/Rich-Dad-Poor-Teach-Middle/dp/1612681123/
- Book “The E-Myth Revisited: Why Most Small Businesses Don't Work and What to Do About It” by Michael E. Gerber - https://www.amazon.com/Myth-Revisited-Small-Businesses-About/dp/0887307280
- Book “The 4-Hour Work Week: Escape the 9-5, Live Anywhere and Join the New Rich” by Timothy Ferriss - https://www.amazon.com/4-Hour-Work-Week-Anywhere-2008-04-03/dp/B01K94RC0M/
- Book “The Psychology of Money: Timeless lessons on wealth, greed, and happiness” by Morgan Housel - https://www.amazon.com/Psychology-Money-Timeless-lessons-happiness/dp/0857197681
Connect with Bob:
- Facebook- https://www.facebook.com/bob.thompson.1232
- Instagram- https://www.instagram.com/iambobthompson/
- LinkedIn- https://www.linkedin.com/in/robertthompsonlegion/
- YouTube- https://www.youtube.com/@smallinputs-bigoutcomes
Connect with Angelo:
- Facebook- https://www.facebook.com/AngeloPerone21/
- Instagram- https://www.instagram.com/ceo_angelop/
- Twitter- https://twitter.com/CEO_AngeloP
- LinkedIn- https://www.linkedin.com/in/angelo-perone-909b2a128/
- TikTok- https://www.tiktok.com/@ceo_angelop
- Website- https://legalcaseconnect.com/
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