By Mike Johnson
The true measurement of financial freedom: “How many months can you pay your bills if you stop working?”
For those of us who are 100% financially free, the answer is “For the rest of our lives.”
Perhaps 10% of those who are financially free have amassed millions in cash that is just sitting in a bank (not me). They can write checks forever as long as no one steals their money.
For the rest of us mere mortals, we own passive income streams that keep flowing month after month in amounts that exceed our monthly bills. Once our monthly passive income exceeded our monthly bills, we “retired” from a work schedule and now just manage our income streams. We’re 95% retired. Those of us who are more motivated, keep looking to buy additional passive income streams so our lifestyle keeps improving without having to work a schedule.
How many people do you personally know who could pay their monthly bills forever without having to work a job or a schedule? One? Two? Any?
Sadly, only about 5% of Americans are financially free. Unfortunately, this doesn’t stop the other 95% from giving advice on how to get there.
“Conventional wisdom” (The Herd) tells us to go to college, secure a good job, work and scrimp and save for 40 years to save up a nest egg that is large enough to live off its interest and retire at age 65. This is yet another example of The Herd offering “advice” that is insane.
Why spend 4 years amassing massive college debt and then work and scrimp and save for 40 MORE years when you can just self-educate yourself for a few months and BUY the passive income stream the “experts” insist takes a lifetime to save?
The Herd never offered you that advice, did they? That’s because The Herd only parrots what they were told by the other members of The Herd who are not financially free themselves.
The first lesson in gaining financial independence is to become your own expert. Do your own research. Listen only to the people who have already achieved what you want.
You can love The Herd. You can live with The Herd. But if you want financial freedom, you have to stop listening to The Herd.
Lesson #1: When it comes to the things you most value, individuals who do their own research are always smarter than The Herd.
Become your own expert.
Earning passive income takes active thinking! Expand your thinking with my FREE report, “The Many Ways to Earn Income Besides a Job.” Just sign up for your free subscription to PerpetualSaturday.com and you’ll receive the report in moments.