106: Quitting Your Job and Passive Income with GRE’s John Collins
Get Rich Education
Keith Weinhold
4.3 • 602 Ratings
🗓️ 21 October 2016
⏱️ 46 minutes
🧾️ Download transcript
Summary
#106: With enough passive income to meet your living expenses, you can potentially quit your job. GRE’s Business Developer John Collins just quit his job. He tells us how it feels.
Keith brings you the show from Ontario, Canada today.
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Listen to this week’s show and learn:
02:38 How close are you to quitting your job? The PPY.
05:42 A metaphor about life being the journey, not the destination.
07:40 If the Dow Jones rises from 19,000 to 20,000 points, that’s NOT a gain!
10:41 With zero financial education, stocks are better than real estate. With some education, real estate is better.
12:08 Monthly property management statements.
15:50 The jet pilot.
19:12 GRE’s John Collins quit his job that paid $100K-$200K per year.
22:47 Overcoming fear of leaving the job.
24:32 Nothing dispels fear like education; social connections.
28:48 Altering your life structure.
32:35 Do you still know when it’s “Payday” at your employer?
36:40 Feel of the “corporate-ocracy.”
39:09 With more passive income, here’s how you’ll begin thinking differently than your co-workers.
41:15 Entrepreneurship is not for everybody. “Turnkey job.”
Resources Mentioned:
Transcript
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| 0:00.0 | Get Rich Education is brought to by Norrida Real Estate Corporate Direct and Ridge Lending Group. |
| 0:08.6 | Cash flow real estate investors. This is Get Rich Education's Keith Weinhold. Did you know that you can finance up to 35 income properties all with one lender? |
| 0:18.4 | Ridge Lending Group specializes in investment property loans, |
| 0:22.4 | and they do it in almost every U.S. state. Ridge has worked with tens of thousands of real |
| 0:27.6 | estate investors and homeowners all over the country. They've been doing this for investors |
| 0:32.1 | for so long that at this point, they've helped more families realize their dreams of becoming |
| 0:37.4 | real estate investors |
| 0:38.3 | than any other mortgage lender in the country. To find out more, visit ridglinggroup.com. |
| 0:51.1 | Welcome to Get Rich Education with Keith Weinhold, giving you information and ideas on the investment that has turned more ordinary people into millionaires and billionaires than anything else, and can provide you with more wealth and happiness than you ever thought possible. |
| 1:09.6 | Now, here's your host, investor, entrepreneur, |
| 1:13.6 | business owner, and educator, Keith Weinhold. Welcome to Get Rich Education, Episode 106. I'm |
| 1:24.5 | your host Keith Weinhold here again this week because I've got that drive to help |
| 1:28.9 | you build your wealth. We're talking with GetRits Education's own business developer, John |
| 1:34.4 | Collins, today about quitting your day job and how that intersects with, well, one of your |
| 1:40.3 | favorite mental tug of wars, and really one of mine and everyone's favorite |
| 1:45.3 | mental tug of wars, and that is, yep, it's that time versus money conundrum again, and our |
| 1:52.7 | own John Collins recently quit his day job, but not his daydream, and later I'm going to |
| 1:59.3 | ask John about how that feels and how he overcame that |
| 2:03.2 | fear of ditching the J-O-B. And I'll give you some indicators that it might be time for you to leave |
| 2:10.6 | your J-O-B. Some questions to ask yourself other than the obvious parameter of when you have enough passive income to meet |
| 2:19.0 | or exceed your living expenses, you can detach. And as a lot of you aspire to quit your day job, |
| 2:27.3 | some of you might actually like your job and you're just seeking more passive income to live |
... |
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