6: Here’s Why You Aren’t Financially Free

Get Rich Education

Keith Weinhold

Realestateinvesting, Income, Passiveincome, Money, Business, Wealth, Investing, Careers, Realestate, Kiyosaki, Real, Rich, Creatingwealth

4.3 • 602 Ratings

🗓️ 21 November 2014

⏱️ 37 minutes

🔗️ Recording | iTunes | RSS

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Summary

#6: Would you rather be debt-free or financially-free?

Did you know that for most people with home mortgages, their approach to home equity management actually prevents them from being financially free?

In this no-holds barred episode, which includes material that has shocked some of Keith’s students, your paradigm with what you thought was true about money management can shift dramatically.

Homes are for housing people. Not storing cash.

Opportunity cost is opportunity lost.

Learn about one of the greatest under-utilizations of using OTHER PEOPLE’S MONEY in order to achieve the freedom that you and your loved ones seek.

Transcript

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0:00.0	Welcome to Get Rich Education with Keith Winehold, 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.
0:25.6	Now, here's your host, investor, entrepreneur, business owner, and educator, Keith Weinhold.
0:37.1	Welcome to the Get Rich Education podcast show number six. I am your host, Keith Weinhold.
0:43.8	I have a question for you today. If you were offered an investment that could never go up in value but might go down, how much of it would you want?
0:55.0	Yes, if you were offered an investment that could never go up in value but might go down,
1:01.0	how much of it would you want? Well, zero, right? Were growth-minded investors cognizant
1:10.0	of opportunity cost and risk-aware, the opportunity of what
1:14.9	we could do with money rather than have it invested in something that cannot go up in value
1:20.7	and only go down. Well, depending upon your level of exposure to financial ideas and information,
1:29.3	parts of what I'm going to tell you today could frankly be quite shocking.
1:34.9	It's the kind of thought-provoking information that can potentially collapse timeframes
1:40.6	and shift paradigms for you.
1:43.7	I'm going to have a conversation with you about home
1:46.7	equity management and how it's mismanagement is frankly stifling your wealth. Now even if you have
1:55.8	zero equity in your home or you don't own your home. If you're interested in investing, you can learn as
2:03.7	much from this today as a homeowner with a lot of equity could. In most cases, when I say home here,
2:10.7	you can just as well substitute the term rental property. In the context of acquiring wealth,
2:21.6	losers typically strive to be debt-free,
2:29.5	while winners strive to be financially free. Would you rather be debt-free, or would you rather be financially free if you had to pick one or the other. I mean, debt free simply means that you don't
2:36.5	owe anyone anything. Financially free means that your income is great enough such that you
2:43.7	don't have to work for money anymore. Well, no one achieves financial freedom just merely by eliminating their debt. In fact, you're going
2:53.9	to see that many people have misdirected aspirations of being debt-free. That focus on being debt-free
	...

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