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The Map to Economic Independence Part 4: Cash Flow
Manage episode 329941925 series 3345764
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In this last part of the four part series, Carol continues to talk about The Map to Economic Independence, we will gain clarity about the single most important part of mapping out your path to economic independence or the state of having enough cash flow to cover your expenses.
As people begin to gain momentum and success, those distractions, disguised as opportunities, pull them off course. They look good on paper, but then they get involved in something they don't understand. Ultimately, it destroys time when it loses again. Competence is undermined, and it goes against their investor DNA. This is the cause of our economic losses, setbacks, and inability to achieve economic independence. Becoming a better investor requires awareness, skill, and discipline to trust and stick to your investor DNA.
In This Episode
1:15 - Net Cash Flow
2:19 - The single most important thing that is really economic independence
3:18 - Taking Personal Responsibility
3:38 -Being stuck in the accumulation mindset
4:38 - That one thing that saved me the most
6:00 - Trading time for money
7:55 - The power to multiply results
10:57 - How do I set up my finances to be more stable?
14:24 - Mistakes that people make when they try to reach economic independence
15:47 - Focus rather than Diversify
16:52 - The single most important part of reaching economic independence fast
18:53 - The core components of becoming a more powerful investor
22:48 - Three buckets in the framework
24:56 - Employee Retention Credit
28:18 - Place I've been putting some of my own money
29:52 - Create penalty-free cash flow
Favorite Quotes
"Financial freedom is a state of being of, or a state of mind where money is no longer your primary reason or excuse for doing or not doing something" - Carol Dewey
"What you do right now will be, and what makes the difference for the long term?" - Carol Dewey
"Never in our history, did we have more people saying what they learned in what I'm going to teach you today and what they learned from us, helping them not only survive during that time but thrive." - Carol Dewey
"What can you be doing that will give you the most impact the best life and how do you eliminate distractions?" - Carol Dewey
"If you're only getting 3% on something and paying 6%, pay that off, that's a hundred percent improvement" - Carol Dewey
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