Heads I Win, Tails You Lose with Patrick Donohoe | PREI 114

Passive Real Estate Investing

Real Estate Investing with Marco Santarelli, Investor and Entrepreneur.

Education, Business, Investing, Entrepreneurship, How To, Business:investing

4.6 • 968 Ratings

🗓️ 3 September 2018

⏱️ 47 minutes

🔗️ Recording | iTunes | RSS

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Summary

Americans are losing the money game. Freedom is our innate human tendency, yet that beacon of Americanism has dimmed over the last decade. It's an abstraction to some and a fantasy to others. Our society has replaced the foundational principles of self-reliance and entrepreneurship with security and dependency. The price we've paid for this transfer responsibility continues to compound. However, the opportunity to create financial freedom is far more available than it has been for your parents and their parents' parents. Patrick Donohoe, founder and CEO of Paradigm Life and PL Wealth Advisors, says it all starts with your financial education and your mindset. You may need to question everything you know about money and wealth investing in retirement, but it's available to you. Patrick talks about his new book, Heads I Win, Tails You Lose. His work centers on educating clients to reach their financial freedom by building wealth, creating cash flow, and establishing a legacy. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to passive real estate investing, the show where busy people like you learn
0:05.2	how to build substantial passive income while creating wealth for the long term.
0:09.2	And now here's your host, Marco Santorelli.
0:12.3	Welcome to passive. Now here's your host Marco Santorelli.
0:13.0	Welcome to Passive Real Estate Investing.
0:16.0	I'm your host, Marco Santorelli.
0:18.0	You know, Americans are losing the money game.
0:21.0	Freedom is our innate human tendency, yet that beacon of
0:25.5	Americanism has dimmed over the last decade. It's an abstraction to some and
0:30.0	just a fantasy to others. Our society has replaced the foundational principles
0:35.0	of self-reliance and entrepreneurship
0:37.6	with security and dependency.
0:41.2	The price we've paid for this, this transfer responsibility, continues to compound.
0:47.0	And it's evidenced by these incredible statistics.
0:51.0	Just listen to this. The U.S. national debt is at an all-time high and has been for a very long time.
0:58.0	It's currently over $20 trillion, trillion, with a T.
1:03.0	Half of our earned income goes to taxes when you start to factor in sales tax, property taxes, utilities, and inflation.
1:11.0	Both Medicare and Social Security now comprise over 200% of our GDP, the gross domestic
1:18.3	product. The retirement savings gap is at a staggering $14 trillion. Consumer debt is also at an all-time
1:27.0	high and I believe that's $20 trillion or over 20 trillion dollars.
1:33.0	45% of the workforce today has just 3,000 dollars saved for retirement.
1:38.5	Think about that, almost half of our workforce has only saved 3,,000. Outstanding student loan debt is over $1.5 trillion.
	...

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