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Big Picture Retirement®

#044: Psychology, Passive Income, and Your Freedom Number With Clayton Morris

Big Picture Retirement®

Devin Carroll

News, Business News, Investing, Business

4.7546 Ratings

🗓️ 30 October 2017

⏱️ 30 minutes

🧾️ Download transcript

Summary

Clayton was shaped by the money experiences of his childhood, particularly his father's job loss.

After some financial challenges, Clayton and his wife decided to figure out how to build an income that isn't tied to their jobs working for someone else.

They decided to buy rental properties to create income to cover their monthly income needs, what Clayton calls his "freedom number."

Highlights include:

The importance of figuring out how much money you need each month

How real estate might be part of the right solution to meet your freedom number.

For more information, visit our show notes at http://www.bigpictureretirement.net/044 

Transcript

Click on a timestamp to play from that location

0:00.0

The Big Picture Retirement Show does not provide specific tax, legal, or financial advice.

0:05.1

Listeners are encouraged to seek out their own advisors in these areas.

0:12.3

Hey everyone and welcome to the Big Picture Retirement Show, where we deliver insight on what you need to know for a meaningful and successful retirement.

0:22.6

If you are planning for or living in retirement, this is the show for you. Hey, I'm Devin, and today I'm in the studio by

0:29.7

myself, John is not on the other side of the desk from me, so it feels a bit empty in here,

0:34.5

but that's okay, because we have a fantastic guest that's going

0:38.2

to be joining us here in just a moment.

0:39.8

At the time of this recording, he was the weekend host for Fox and Friends, and since recording,

0:45.2

he has left that position to run his real estate empire, Morris Invest.

0:50.5

Clayton Morris is coming in in just a moment, but first, because we always forget this, I want to remind our listeners to go out to our website and download our ebook. Big picture retirement, three simple steps to a successful retirement. It's a fantastic guide that's going to talk to you about how to hire the right team, the right financial advisor, the right accountant, the right lawyer. We have a section in there on getting organized, some fantastic stuff in that

1:15.3

guide. So go to big pictureretirement.net forward slash steps and download that today. All right,

1:21.8

have you ever had any fears or anxieties over money? Man, I know I have. A few times I've had tremendous fear and

1:29.5

anxiety over money. Once I was going through restructuring the way I did business. So for the first

1:35.6

eight years, I was with a big brokerage firm, and I looked at what I thought was the trend in the

1:40.7

industry and the way I wanted to do business, and I realized that the path that I was on just wasn't the way I wanted to go. Now, I was pretty comfortable,

1:49.0

pretty successful with that firm, but the future didn't look so great. So I made the decision

1:54.2

to leave, start my own firm, and boy, I tell you, that was an unsettling time. My wife was okay with it. She was on board with me,

2:04.2

and together we made it through, and we're much stronger financially even because of it.

2:10.0

But there were some tough times there. And so with our guest today, we're talking about some

2:15.2

financial insecurities, some financial anxiety,

2:18.2

and also how to make sure that you can guard yourself against financial devastation. So without

2:25.0

further ado, let's go to this interview with Clayton Morris. Clayton, welcome to the show.

...

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