JF2940: Building Your Way to the Top | Passive Investor Tips ft. Travis Watts

The Best Ever CRE Show

Best Ever CRE

Business, Investing, Entrepreneurship

4.7 • 996 Ratings

🗓️ 22 September 2022

⏱️ 12 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Passive Investor Tips is a weekly series hosted by full-time passive investor and Best Ever Show host, Travis Watts. In each bite-sized episode, Travis breaks down passive investor topics, simplifying the philosophy and mindset while providing tactical, valuable information on how to be a passive investor. In this episode, Travis talks about the various levels investors need to achieve on the path to building financial wealth. Using Maslow’s Hierarchy of Needs, Travis has created his own hierarchy of wealth building to illustrate what needs must be met before you can achieve financial independence. There are five tiers in this hierarchy: 1. Self-Sufficiency The first level in the hierarchy of wealth building is self-sufficiency. This is where you can support your living costs and expenses through active income. You may have a W-2 job or work as an independent contractor — in any case, you are working to pay your expenses. 2. Stability At the second level, you eliminate high-interest debt, bad debt, and credit card debt. You also have some cash in the bank as a reserve. 3. Flexibility At the third level, you could potentially take a year off of work, travel, or even pivot careers. You may have some investments or IRA accounts and adequate cash reserves in the bank. However, you are still working to pay your expenses. Your investments have not been able to generate enough income for you to quit your job. 4. Financial Independence At the fourth level, you are able to live off of the income that your investments generate. It is important to note that even if you are a high-income earner who makes millions of dollars per year, it isn’t possible to reach financial independence unless you become a passive income investor. 5. Financial Abundance At the fifth and final level, money is no longer a concern. You have more than you will ever need, and you may begin using that extra money to give back via sizeable charitable donations. Join the newsletter for the expert tips & investing content. Sign up to be a guest on the show. FREE eBook: The Ultimate Guide to Multifamily Deals & Investing Register for this year's Best Ever Conference in Salt Lake City Stay in touch with us! www.bestevercre.com YouTube Facebook LinkedIn Instagram Click here to know more about our sponsors: Cornell Capital Holdings | PassiveInvesting.com | DLP Capital Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	Did you know that within a decade women will hold $30 trillion in investable assets?
0:05.3	Yet somehow only 19% of women reported feeling confident in selecting investments that align
0:11.0	with their long-term goals. Our friends at Invest Her are out to change. that and it's happening June 2nd through the 4th in Austin, Texas.
0:23.0	InvestHERCON is not just another real estate conference.
0:27.0	It's a transformational experience focused on real estate investing,
0:31.0	business strategies, and self-care tactics, all designed to help women take
0:35.5	control of their financial futures. Gain the knowledge and skills you need to grow
0:40.0	your portfolio and build a sustainable business all while connecting with over 500 women who are playing at the same level.
0:48.0	To learn more and to get your tickets, visit InvestHERCON.com today and use the code 100 best ever to get $100 off your ticket.
0:57.0	That's Invest Her, H-E-R-K-D-K-G-K-G-K-K-K-K-K-K-K-K-K-Kom, promo code 100 best ever to get $100 off your ticket.
1:05.0	Quick disclaimer, the views and opinions expressed in this podcast are provided for
1:09.0	informational purposes only and should not be construed as an offer to buy or sell any securities or to make or consider any
1:16.4	investment or course of action. For more information go to best ever show.com.
1:21.6	If you don't make investments that are generating passive income,
1:25.9	then you just never achieve that level.
1:28.4	And that is one critical fundamental to understand.
1:32.4	H-tag passive income.
1:34.0	Welcome to the best ever show, the world's longest running
1:38.0	daily commercial real estate podcast.
1:40.0	Our hosts interview commercial real estate experts every day to get you the best advice ever with none of the fluffy stuff.
1:47.0	Welcome back, Best Ever listeners to another episode, the 10th episode in fact, of passive investor tips. We are well underway. We are 10% of the way to our goal.
1:58.2	This is inevitably going to be a hundred episode series on tips and strategies and the foundation and the mindset of
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Best Ever CRE, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Best Ever CRE and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.