you've probably gotten this from my energy already. Don't get me wrong I love it, but I get bored as heck after about three days.
I also need to be constantly creating. So don't feel bad if you're a person saying I want passive income, but I don't want to retire yet.
You don't have to keep creating to keep living your life to its fullest. Passive means you have to make a decision. It doesn't mean
you live on a beach. You get to make that decision, but you don't have to live by that decision.
Jewels: This is great news for people who are retirees as well and that are bored. They want to make enough passive income so
they have the choice to sit on the beach or create other passive income ventures.
Ver meeren: Three of my favorite students of all time is one, my son who built his passive income by the time he was 11 reaching
six thousand dollars per month. Now he's still adding on that and he's now in his 20s. But I've also got two grandkids who are four
and five and they each have two $2,000 a month in passive income right now.
But here's the deal. you're never too young or too old to start with passive income.
Now there's one other principle that I think is really valuable. And again, I don't talk
about that in this book ,but I do talk about this in our live training. Often I'll ask
people, "What does financial freedom look like to you?" A lot of people will
mention it means you have the freedom of choice, meaning living on the beach, or
spending time with the people I want to be with. Actually that's not financial
Financial freedom is not an emotional experience. This is where most people miss it.
Financial freedom is actually a very specific number. Let me explain. If you take the
numbers of what you owe every month, like your mortgage, your utilities, your car
payments, your insurances, and your groceries and add them all together, that is your
financial freedom number. When you have accumulated enough passive income to
serve that number that consists of perhaps $5000 every month, that means you have
enough passive income that meets that obligation. And it means that you are
This is why most people never get there, because they're looking at it as an emotional experience, meaning it's wishy washy kind of
thing that is way out in the abstract. But here's the thing: A goal that is specific and clear becomes attainable and near.
We must have a very clear idea of what we're trying to reach, so that as we can proceed to make passive income. You can calculate
how far off from the sum total of what you need to be financially free. You know how far away you are reaching it.
The problem is that most people never ever create financial abundance or freedom in their lives because they really don't have a
specific understanding of what they need to do next or how much they really need.
One of my favorite experiences is that I had a guy come to me recently, at one of our events in Las Vegas, and he said, "Oh, I'm so
excited to be here with you today because you're going to teach me how to become a passive income millionaire." Well, my
question always to these people who strive towards that is"Why?" Why do you want to be a passive income millionaire? His answer
was, "So I can live on the beach." I don't know about you, but there's a lo of people that live on the beach that are not millionaires. I
mean they're pushing a shopping cart, so you can do it quite easily without having to have any money at all. The truth of the matter
is that he could actually become very financially free with a very specific number, without having to be a millionaire!
Perhaps he could find financial freedom at $300,000 a year, which is again is a lot easier than a millionaire. And just because my
book talks about being a passive millionaire, doesn't mean you have to go to a million. You can stop anytime you want.
But, then again, maybe you do want to go there. It really depends on what that specific financial freedom number looks like for you.
Jewels: This makes so much sense... because you are talking about obtaining financial freedom. It is a major distinction that makes
everything so much easier to understand.
Ver meeren: And to become a millionaire you must be able to make about $2,739.00 per day. But for most people, like me, I go to
Starbucks, and I put some gas in the car this morning before I drove the grandkids to school. And I spend less than a $100 dollars
for the day. And I may not spend more than that. So even for most people, to have a life of full abundance, if you are able to make
even an extra $500 a week or $500 a day it would be a dramatic shift for you. You don't need to focus on the Millionaire money
although, I do encourage people become a Millionaire. I'm one and it's fun. But it's not necessary. Many can do that quite easily
with even just a few thousand dollars a month. I always say making money is like making cupcakes. Once you have the recipe you
can make as many cupcakes as you want.
I tell my student to set an initial goal of. $500 dollars a month extra with passive income. That's like all the payment on a brand
new BMW basically. And then they learn how to do it every week because they get better at it. Now if you think about, it that's like