On this episode of The Impatient Investor, Andrew discusses how the right investing strategy can save you years of small mistakes, slow progress, and unnecessary failures. It all begins with shifting your focus to prioritize the right types of passive income-generating assets can make your money work for you instead of the other way around.
“Focus on strategies that are based on numbers and don’t require luck. You don’t have to get lucky to earn passive income. Passive income investing is actually about holding onto certain asset types for many years and collecting checks while your investments generate periodic distributions of wealth.”
FULL TRANSCRIPTION:
In last week’s episode, we talked about how Jerry Seinfeld created incredible streams of passive income, thinking outside of the box and also the beginning story of Pat Flynn’s journey to wealth. If you go back and read Pat’s inspiring story again, you’ll notice that even Pat Flynn himself didn’t start his site as an investment, he started it as a hobby. It was something he did for fun to keep himself occupied while he was studying for the Leads Exam. Only after he noticed that the site was receiving thousands of visitors per day, did he begin attempting to monetize it. In other words, he got lucky and I sincerely hope that you get lucky too, and a lucrative stream of web traffic falls right into your lap.
If it does then by all means write in eBook. But until then focus on strategies that are based on numbers and don’t require luck. You don’t have to get lucky to earn passive income. Passive income investing is actually about holding onto certain asset types for many years and collecting checks while your investments generate periodic distributions of wealth, known as dividends or disbursements. Then you can take those checks and use them to purchase even more assets. Round and round it goes until you own a massive portfolio that generates millions of dollars per year without requiring any time, energy, or attention at all. At least that’s how I define it. Call me crazy.
In my work, I’ve seen motivated people govern zero in passive income to tens of thousands of dollars per week. It isn’t necessarily easy to generate passive income, but it also isn’t particularly complicated. Passive income investing is based on simple math that a fifth-grader can understand. In this podcast, I’m going to break down exactly how it works and how I approach it.
No matter what your current circumstances are, you can become wildly successful by shifting your focus to prioritize the right types of passive income-generating assets. I can show you how to make your money work for you instead of the other way around. The right investing strategy can save you years of small mistakes, slow progress, and unnecessary failures. But before any of that, the first step is a mindset shift. It might seem simple, but it’s profound and important.
You need to commit to the idea of building passive income. You need to decide that maximizing your automated cash flow is a top priority in your life. This isn’t going to be effortless and it’s not just going to happen without some serious work. So make a promise to yourself that you’ll put in the time. And once you set up an automatic money machine to generate recurring revenue for each month for the rest of your life, you’ll be freed up to focus your time and energy on other goals you might want to pursue.
Instead of spending 40 hours per week at your job, you can spend that time on well, anything you want. If you’re listening to this, I know you’re at least interested in the possibility of generating passive income. I hope to convince you to make it one of your top goals. In the upcoming podcast, I’ll show you that the way you’ve been thinking about your financial portfolio up until now is completely wrong and I’ll reveal how you should be thinking about it instead.
And in the meantime, if you’re looking for more information, go to www.stoptradinghours.com
