I learned it in a book called Rich Dad Poor Dad while reclining in a chair one night after a long day’s work back when I was living in a single wide trailer.
- Make money in business (AKA – become a business owner)
- Invest the money you earn into income producing assets like rental real estate.
When the amount of residual income you earn from your assets, equals or surpasses your monthly household bills, you are free.
At the time – I owed about $13,000 for the trailer I was living in.
Another $8,000 on a car loan.
Another $40K for student loans.
I had zero savings and I was working a job making $11.09 an hour.
The only 2 things I had were…
- A Dream
- A willingness to learn and work.
Here I stand many years later, still not quite there – but close and more determined than ever.
I can almost taste what it will be like when I can wake up in the morning with zero need to do anything for money.
This last Saturday we got an offer on home we have for sale.
Our asking price is $165,000 and the offer came it at $162,000 with us paying closing costs and putting on a new metal roof.
The proceeds from the sale of this home will allow us to re-invest into at least 2 more income producing assets and will get us most if not all the way to our original goal of FREEDOM.
It’s not a done deal yet, but it’s a step in the right direction.
And that’s how the Freedom Formula works.
You learn the formula and take steps in the right direction with a commitment to never give up, and keep moving forward, day by day.
That’s the freedom crusader way.
The Freedom Formula – like one of my early mentors told me, is simple, but not easy.
Definitely worth it though.