What is financial freedom & how do I get there?

At a high level, financial freedom is the ability to do what you want, when you want. It’s not being restricted by having to have a job. It’s not having to worry about paying bills and lifestyle expenses because you know you have enough money coming in to do so.

EF-You level or Baller Status?

There are a few levels of financial freedom. The most basic level is the EF-You level, which really means you have the ability to quit your job. It doesn’t mean you have to quit your job of course but can quit your job if you want because you have the monthly money coming in outside of your job to cover your lifestyle. 

Then there is a level beyond that which means you can afford to travel, spend all the time you want with your family and friends, live in the house you want, drive the car you want, eat at any restaurant you want. You get the idea. This is the baller level where we all want to be!

How do we achieve financial freedom?

By replacing active income with passive income, we can achieve financial freedom. Having passive income means income that comes in without trading your time to get it. This can start as a business where you are involved in the day-to-day and overtime replace yourself with others such that you own the business but do not work in the business. 

Passive income can come from investing. Some people have money in savings accounts, for example, where the bank pays almost no interest. Investing in real estate is a great way to get income outside of having a job. People often refer to rental properties as mailbox money, meaning they don’t do anything and the checks just show up each month. 

If you are a landlord then you know owning rental property is not passive! We’ve had calls about air conditioning issues in the middle of the summer, a tenant who called every few weeks asking for random improvements to our house, and even a sewage pipe leak and sewage all in the crawl space. That wasn’t cheap to clean up! Real estate doesn’t have to mean being a landlord though. Real estate investing can be passive through investing in real estate syndications where syndication investors get cash flow each month without having to work for it.

Where to learn more

You can learn more about how syndications work here.
If you are interested in seeing our investing opportunities, make sure you sign up for our investor circle.