Building Wealth Through Passive Income Strategies (w/Joey Mure) [Ep.138] скачать в хорошем качестве

Building Wealth Through Passive Income Strategies (w/Joey Mure) [Ep.138]

Episode Overview In this episode, I sit down with Joey Muré to discuss achieving financial freedom through passive income strategies rather than traditional Wall Street approaches. The conversation challenges conventional financial wisdom about debt payoff, retirement planning, and wealth accumulation, offering a roadmap for high-earning professionals who feel stuck on the hamster wheel despite their success. Joey and I explore practical strategies for creating cash flow today rather than waiting decades for retirement, including how to evaluate investment opportunities, avoid common money traps, and align financial decisions with personal values and family priorities. Key Topics Discussed The Psychology of Money & Financial Freedom Why traditional retirement planning keeps you dependent on the system The difference between financial freedom and debt freedom How to shift from an accumulation mindset to a cash flow mindset The financial freedom formula: Passive Income to Monthly Expenses Common Money Traps Paying down debt too aggressively Maxing out retirement accounts (401k, IRAs) that lock money away until 59½ Treating your primary residence as your biggest asset Lifestyle creep and keeping up with the Joneses Passive Income Strategies What passive income really means (involved but not day-to-day operations) Real estate investments, business partnerships, and alternative vehicles How to start with your first $500/month in passive income Building a personal P&L for your household Practical Steps to Get Started Conducting a cash flow awareness analysis Creating a shared financial vision with your spouse The importance of financial education and coaching Building your "buy box" for evaluating investment opportunities Key Quotes -"When your passive income exceeds your monthly expenses, you're financially free. It's not about what things look like on the outside, it's more about how much freedom do we actually have with our time." -"You can never pay off the cost of living. You can't pay it off. So you have to cover it with cash flow." -"Wall Street is not just the places where we've been told to invest. It's also a mindset that leads you to believe that your goal is to accumulate dollars for a someday, for a one day. That is complex to keep you dependent on the system that everybody else is getting rich off of." -"If you have no surplus because your lifestyle has crept up to where it equals your income, you're no closer than the person who is the janitor in the cash flow game." Episode Timestamps 4:21 - Joey's Wake-Up Call Making $300K+ but feeling trapped; the beach vacation story with his five daughters that changed everything 10:15 - The Psychology of Money & Financial Freedom Shifting from Wall Street accumulation mindset to cash flow thinking; the formula: Passive Income must be greater than Monthly Expenses 17:55 - What is Passive Income Really? Passive income is "involved but not uninvolved" - being an active steward vs. abdicating to others 25:51 - The Debt Dilemma Should you aggressively pay down debt or invest for cash flow? The $400K student loan story 30:08 - "You Can Never Pay Off the Cost of Living" Key insight: debt freedom doesn't equal financial freedom; the Cashflow Game lesson 45:00 - Dave Ramsey vs. Rich Dad Philosophy Why paying extra on your mortgage doesn't create freedom; the 2009 mortgage crisis cautionary tale 50:39 - Your House is NOT an Asset Debunking the primary residence myth and understanding lifestyle creep 56:09 - Aligning with Your Spouse Getting on the same page financially; the Passport Challenge for couples 1:04:44 - The Passive Income Lab 12-week program guaranteeing first $500/month in passive income; becoming an investor through education 1:15:24 - "Opportunities Find Cash" & Due Diligence How to attract deals, vet operators, and use tools like custom GPT for investment analysis 1:23:25 - How to Get Started Resources and next steps: wealthwithoutwallstreet.com/doc for Financial Freedom Analyzer LINKS: Joey@WealthWithoutWallStreet.com WealthWithoutWallStreet.com X: @WithoutWallSt FB: /WealthWithoutWallStreet IG: @WealthWithoutWallSt YT: /@WealthWithoutWallStreet Apple Podcast: WealthWithoutWallStreet WealthWithoutWallStreet.com/DOC for free resources! Join The DOC Community on Facebook for more great content and discussions:   / 1cb9rkqvde   Check out the DOC CE Courses: https://theorthocoach.com/ce-courses/ Free Balance Sheet: https://theorthocoach.com/ (You will need to disable your pop-up blocker) Link to Dr. Mike talking about goal setting:    • Motivational Mondays - Vision & Goals [Ep.11]   Disclaimer: The content and advice offered during this episode is for informational purposes only and is not intended to serve as financial or legal advice. Please consult with your own tax and legal professionals for advice relative to your specific financial situation.