Does Passive Income Create Financial Freedom?

“…instead of worrying day and night about what the federal government is or is not going to do, instead of worrying about the fact that we apparently have no sweepingly effective leaders and instead of worrying about what they did do or didn’t do or what the army says or didn’t say or what the navy says about the army and so forth, instead of worrying about this sort of thing, would it not be possible to just skip it.” 

 – L. Ron Hubbard

This was sent in an email, which I started to delete when I realized how much sense it made. Many of us are spending way too much time worrying about all manner of things that we cannot control. Being angry about something someone said or didn’t say. Why can’t we just skip it? We cannot control it, there is absolutely nothing we can do about it. 

Instead, we can control what we can control, our emotions, our environment to some degree, our actions, our education. Actions and emotions while controllable are sometimes difficult and require quite a bit of introspection and self-awareness. 

Education is under our control. Education takes all forms. Formal education in school,  “street” education, and vicarious education. It is said that the more you know, the more you realize that there is to know. I find this to be very true. 

Financial education is a great example. It is not something that is taught in school. What is financial education? It’s an understanding of how money works. Generations have been taught and programmed to work for money. I went to school, a lot of school, and became a doctor, a surgeon. 

Doctors make a lot of money and many of us spend as much as we make. This is no different than those who bring in less. Living paycheck to paycheck is the same no matter how much money you get to spend between those checks. 

Financial freedom is defined as having your passive income equal to your expenses. Once this occurs, you are no longer a slave to a job, you are free. Most never consider this as a possibility. 

Becoming financially free can be achieved by saving money and investing money. There are those that will say, saving money will not get you there. I agree, it is actually a losing proposition in this day and time. Inflation causes your dollars to be worth less tomorrow than they are today. Interest rates on savings accounts, CD’s and money market accounts do not match the inflation rate.

Investing your money is a more efficient way to become financially free. Investing your money where it can have a positive impact AND meet your financial goals is extremely efficient. 

What does it mean to have a positive impact? Social capitalism is everywhere. Entrepreneurs looking to change the world and improve their bottom line. They are not mutually exclusive. 

For example, New Foundations Transitional Living is a company started by a friend of mine, Ross Shively.  Ross purchases real estate, either single-family houses or multi-family to house men and women going through programs related to substance addiction. 

Through the real estate investment, using public-private partnerships he is able to get an average investor return near 18% as well as achieve his goal of helping men and women become free of substance abuse and productive members of society. 

If you look around you will find an organization that is working to improve something that is important to you, from helping citizens become free of addiction to improving food delivery and health, they are there with plenty of room for you to improve your bottom line. 

 

Are you ready to give your money a mission and build resilient wealth? There are REAL opportunities available where you can make a difference.

Start this discovery by telling us more about you here>> and we’ll get you connected to projects of your interest.

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