Epic Real Estate Investing - How to Escape the Rat Race ASAP | Financial Freedom Friday

Episode Date: September 19, 2014

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It's time for Financial Freedom Friday with Matt Terrio. What comes first? Pursuing your dreams or getting out of the rat race. Which one do you take on first? Meaning, you could take on the rat race as a means of achieving your dreams, or you could place your focus on getting out of the rat race freeing up your time to achieve your dreams. Most people take the first option. They are prepped for the first 18 or so years of their lives. to compete in the rat race.

And the subsequent four years or so, they go to college to increase their knowledge and skills to become expert rat racers to get an edge on the competition. Instead of trying to win the rat race, consider exiting the rat race altogether. Besides, who wants to hang out with a bunch of rats anyway? All right, so let's ditch the metaphor.

What is the rat race to which I'm referring? Well, it's the get up and go-to-work routine that most people volunteer for. Each week, we work for five days in exchange for two days to do what we want. And why do we go to work? Well, we go to work to pay the expenses that we've created to maintain our lifestyles of choice. It's a trap. And it's insane.

So how do we stop the insanity and get out of the rat race? All right, number one, shift your focus from exchanging time for dollars to leveraging dollars for your dollars. In other words, see to it that your money works at least as hard as you do. That's number one. Number two, reduce your monthly expenses to the bare necessities. Now, I didn't say reduce your debt. I said reduce your expenses. There's a difference, but not so important right now.

Number three, choose a vehicle to create your passive income and then do it. Even if it's just $100 a month of passive income to start, get started. This is where many people think they know how to get out of the rat race, but never actually get out. They dismiss the small $100 a month as not a big enough step, so they never take that first step. And because they never take that first step, they never get out. Now, after taking that first step,

keep repeating that step until your passive income exceeds your monthly expenses. Once your monthly passive income rises to a level in which it can pay all, of your monthly expenses, you are officially out of the rat race. When it comes to creating passive income, I recommend rental real estate. No duh, right? There are other methods out there. There's many, but there's no other vehicle that has led to more people's escape from the rat race than cash flowing rental real estate.

You've heard me say this many times, and I'm going to say it one more time. Real estate, it's the final frontier where the average person has a shot at not only escaping the rat race. but to amass a good amount of wealth on top. With that said, the choice, it's still yours. You have a choice to make. You can spend the rest of your life trying to win the rat race, or you can spend the next three to five years or so

focused on exiting the rat race and actually do it. Pursuing your dreams once you're no longer stressing over your everyday expenses, I got to tell you, it's like nothing else. You've now got time, time to make your dreams a reality. and the best part is you get to enjoy your dreams while you're still young enough to do so. Now, whether you choose to take that first step or that next step toward creating passive income with us over here or not, us being cash flow savvy, that doesn't matter. That's not what this is about.

What matters is that you get started. I'm Matt Terrio, and I'll see you next week on another episode of Financial Freedom Friday. This podcast is a part of the C-suite Radio Network. For more top business podcasts, visit c-sweetradio.com.