The rate at which you are able to save more than 10 percent of your income and invest in your chosen vehicle, and the size of your GOAL for monthly passive income together largely determine how long it takes you to reach your goal. As passive income grows, it is added on top of the active income you already have. We were growing both the active income from our new busi - ness AND the passive income from our portfolio. We chose to reinvest this extra income into more passive investments to reach our goal. And at milestone two, we used this extra income to replace my wife’s salary allowing her to move full time into our investing business and thereby accelerate our active revenues and our passive investment portfolio. Focus is essential. Always keep your eye on the prize (your passive income goal) and always measure your progress. How much passive income do you have today? How much more is it than last month, last quarter, last year? How much is
needed to reach your goal of sup - porting your desired lifestyle? How can you adjust the plan to narrow the gap faster? Our journey was more of an expe - dition or trek than a race—even a marathon. We didn’t know when we began or that it would take us over 12 years to accomplish our goal! We were continually adjusting our time expectations and plans for how. This was not a race against others; it was a competition with ourselves to attain an amazing goal. At times, it was daunting and often challenging, to climb and conquer the mountain. I can tell you without a doubt, every step of the journey—every smile and every tear—was worth the pleasure, the pain, the growth, and the hard work once we reached and stood on top of that mountain! We arrived at our financial freedom goal in 2018 and spent New Year’s Even 2019 in Australia at the Sydney Opera house. We pushed off from there for five months of non-stop travel. We were living our “Financial
Freedom – Never Work Again! Travel Forever!” Your reasons for attaining free - dom—your vehicle, your plan, your goal, your route, and your celebra - tions will most certainly be different than ours. However, the 7 Steps I have described will lead you there. •
Gene Powers is President and Founder of Nationwide Secured Capital, a brokerage and investment company that purchases private loans secured by real estate for its own portfolios and
numerous private investors and funds. Nationwide provides cash out and recapitalization options to those receiving payments on first position private loans. This includes real estate investors/property owners who provided owner financing on properties sold. Call (800) 853-0573 or go to www.NationwideSecuredCapital.com for offers. This article series outlines the 7 foundational STEPS that Gene and his wife learned in their jour- ney. They now travel extensively while co-author- ing a book further detailing these key steps in their journey to Financial Freedom. Email FFReadMore@ CPFFCorp.com for more on this topic.
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