396: The Investments That Will Give You COMPLETE Time Freedom

BiggerPockets Money Podcast

BiggerPockets

Investing, Education, Business

4.6 • 2.9K Ratings

🗓️ 27 March 2023

⏱️ 54 minutes

🔗️ Recording | iTunes | RSS

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Summary

You want to retire early, but odds are, you think that you can’t. Whether it’s a high-stress job, a business that requires your full attention, or just the belief that you MUST be working, most Americans don’t think they can regain their time freedom. But most people don’t know about “lifestyle investing.” Instead of trying to be the wealthiest investor with the biggest house, fastest car, and most money in the bank, lifestyle investing asks, “what do you TRULY need to be financially free?” And there’s no one better to answer this question than Justin Donald, author of The Lifestyle Investor: The 10 Commandments of Cash Flow Investing for Passive Income and Financial Freedom. Justin redefined what it means to be rich by focusing on time, not money, as the most important metric. He went from working as a stressed-out business owner to having complete time and financial freedom simply by putting the lifestyle he wanted before everything else. And he has a lot to teach those of us that have yet to hit financial independence. Today, Justin will define some of his cash flow commandments, explain why passive income is the most essential investment you can make, and detail how to start living a proactive, not reactive, lifestyle. No matter where you’re at financially, this shift in understanding will help you build the life you love, WITHOUT creating more tasks for yourself to take care of! In This Episode We Cover Lifestyle investing explained, and why time freedom is far more important than money How to find out whether you run your business or your business runs you The ten commandments of passive cash flow and where to find it Real estate investing and other income streams EVERYONE should know about Diversification vs. concentration and which builds wealth faster De-risking your investments and how to get money out of any deal your enter And So Much More! Links from the Show BiggerPockets Money Facebook Group BiggerPockets Forums Finance Review Guest Onboarding Mindy's Twitter Jamil's Profile Listen to All Your Favorite BiggerPockets Podcasts in One Place Apply to Be a Guest on The Money Show Podcast Talent Search! Subscribe to The “On The Market” YouTube Channel Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets Check Out Mindy’s 2022 Live Spending Tracker and Budget Money Moment 12 Ways To Make Passive Income From Real Estate Investing Click here to check the full show notes: https://www.biggerpockets.com/blog/money-396 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Let us know! Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to the Bigger Pockets Money Podcast where we interview Justin Donald and talk about his book, The Lifestyle Investor.
0:07.0	When people buy their time back, it gives them permission to really pursue the things in life that they truly desire.
0:14.0	The things that, you know, fulfill them and give them passion. And for me, I felt like I was working harder just to make more money,
0:23.0	to maybe move up or expand or grow and eventually this business that I created to own owned me. It owned my time.
0:32.0	Hello, hello, hello, my name is Mindy Jensen and joining me today is my guest co-host from our sister podcast on the market to Mill Damjee.
0:42.0	Hi Mindy, I'm so happy to be here with you today.
0:45.0	I'm so excited you have joined me taking filling Scott Shoe's as he is off galvanting on the ski slopes being a slacker who is not a slacker is Jamil.
0:58.0	He fills Scott Shoe's admirably because he's wonderful.
1:03.0	Jamil and I are here to make financial independence less scary, less just for somebody else to introduce you to every money story because we truly believe financial freedom is attainable for everyone.
1:14.0	No matter when or where you're starting.
1:17.0	Whether you want to retire early or travel the world, go on to make big time investments in assets like real estate or start your own business will help you reach your financial goals and get money out of the way.
1:27.0	So you can launch yourself towards your dreams.
1:30.0	Jamil, thank you for joining me today. I'm so excited that you're here.
1:34.0	I am also super excited to talk to Justin Donald because he has what is possibly my favorite quote of all time.
1:41.0	He said live life by design, not by default. And that is I've been looking for that phrase for my whole professional career.
1:51.0	I had such a great time on this episode.
1:53.0	I had an extraordinary time on the episode as well.
1:56.0	I love being around people who are well versed in all aspects of investing.
2:03.0	You know, I've spent my entire life, I'm, you know, near 45 years old and everything I've done is real estate.
2:10.0	Tonight, today we get to talk to somebody who was so diversified and allows me to expand my mind into different aspects of ways that you can invest. It was very eye opening.
2:21.0	With actionable tips, realistic actionable tips. Sometimes you get these actionable tips and you're like, hmm, I'm not going to do that.
2:28.0	There are actual tips that you can take and put into use right now. Well, I mean, this is what you're done listening.
	...

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