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Become Financially Free First, THEN Get Rich

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become financially free firstMost people focus on getting rich so that they can have freedom.

They think that by making a lot of money, they will THEN have the ability to travel more, have more fun and live an awesome quality of life.

In this video blog, I explain why this is a horrible strategy to achieving financial freedom.  Instead, I believe you should focus on becoming financially free FIRST and THEN focus on getting rich.

Financial freedom is when your passive income exceeds your expenses.  When you become financially free, you then have the time and freedom to pursue wealth.  It then becomes EASIER to get rich, as you have the time to build more passive income streams and make money.

Watch the video below:

(Click here to watch on YouTube)

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I've been focused on making passive income since I was in my early 20's.  When I was 24 years old, I became financially free and was making around $60,000 per year from my online businesses.

I always knew that this was the best strategy to becoming wealthy, as I've been reinforced it many times from books like Rich Dad, Poor Dad and The Secrets to the Millionaire Mind.

I struggled financially in my early 20's (much like most do) and I refused to get a job.  I knew that by having a job, I'd be limited in the amount of time and energy I could dedicate to becoming financially free.

Instead, I ran my own business and got by every month by doing coaching and seminars in my local city.  I used all my free time to build passive income streams and figure this “internet marketing” stuff out.

After years of trial and error, failures and frustrations, I finally “got it” and was making money online.  Like I said, I built my online businesses to cover my expenses every month of earning me $5000 per month of passive income.

At 24 years old, I was free.  I now had all the time in the world.

I spent my days sleeping in, going out with friends, watching movies, and traveling.  It was fun.

After a while, I eventually got bored.  I was unfulfilled and needed a PURPOSE in my life.  I needed to find something that would challenge me and that I'd be passionate to do everyday.

That's when I started Project Life Mastery.

I created this blog to share my life and help others.  It's a vehicle for me to become the best version of myself, while making a difference in the world.

I didn't make any money from my blog at the beginning (and didn't do it for that reason).  It was just a hobby for me.

I've since transformed my income to be making over $40,000 per month (or up to $500,000 a year) with my blog and other streams of income that I've created.

This was ONLY possible because I became financially free first.

I focused on building PASSIVE INCOME and put myself in a position where I no longer had to worry about money anymore.

I could instead focus on doing what I love (blogging), and spending my days creating more income streams (publishing Kindle books, creating information products, affiliate marketing and coaching).

Making money has become easier than ever, because I don't have a “job” that I have to attend every day that sucks 8 hours of my time.  I can leverage myself and focus on activities that allow me to scale up and earn even more money than ever.

This is what I believe to be the best way to get rich.

Focus on becoming financially free FIRST. Change your paradigm and mindset around money!

I hope this video blog helps you.  Be sure to leave any comments or questions below!

Please subscribe below to the video on YouTube or the iTunes podcast to get automatic updates:

Thank you so much for your support, and if you have yet to leave a rating or review, please leave me an honest one on iTunes, YouTube or below on the blog.  I appreciate it!

Become Financially Free First, THEN Get Rich
5 (100%) 5 votes
  • Mark Rheeder

    thanks Stefan, another powerful motivating message, this is so true and gives me hope and motivation to work even harder on building streams of passive income to become free

  • Nick Di Fabio

    Great message Stefan. I think this approach really is the key to success — especially in the Internet Marketing space. Your story of going from $5k monthly to 6x/7x/8x is that truly inspiring.

    Thanks for sharing this message!

    Nick Di Fabio

  • Kayvee

    I love reading your story. Hopefully one day you will give us the long version of it.

  • Kayvee

    Stefan…Have you read the book “The Millionaire Fast Lane”?

    I think you will like it

    • Kayvee

      The author is MJ Demarco

      Alot of what you say, is similar to what he says.

      Here is the book…I am reading it right now and its amazing

      http://amzn.to/1wqyyuv

      • Kayvee

        Another book that I heard is great to help you overcome procrastination is the book “The Slight Edge”

        Also on amazon.com

    • Yup, it’s a great book!

    • IgnoreLimits

      IMO it’s the best personal finance book out there! Well written so it keeps you engaged and entertained throughout not to mention the timeless strategies MJ conveys.
      SJ
      http://www.IgnoreLimits.com

  • Christian

    Your approach to making money is great. Thank you for sharing it with us! Are there any books or courses that have helped you with creating systems, outsourcing, etc.?

    Little mindset shifts (e.g. “become financially free first, then get rich”) can make so much difference… It blows my mind how a simple thought can give us a totally different perspective, shake our internal worlds, and make us question some of our beliefs. It’s almost surreal.

    • Hey Christian, I’d recommend the following off the top of my head:

      The Millionaire Mind Intensive
      Secrets of the Millionaire Mind
      Rich Dad, Poor Dad
      Cashflow Quadrant
      The Millionaire Fastlane
      The 4 Hour Work Week

  • Vernon

    Hey Stefan, did you attend a university? If you did, how did you manage to work while attending university? I’m 18, about to go off to college. I’ve been following your channel and blog for awhile now, and many things that happened in my life almost mirrors yours: refusing to get a job during the summer to work on passive income (doing Kindle publishing right now), even getting bad grades in high school because I felt it wasn’t necessary to help me succeed in life and escape the “rat race”.

    Personally I really don’t think college is worth its cost, other than for the life experience. $50,000 for a year? I could spend that money to make 1000 kindle books, and then some.

    Looking forward to what you have to say. Thanks for being an inspiration.

    • Hey Vernon, nope I didn’t go to university. I have a similar belief – I didn’t care to get a “job”, which is what university primarily prepares you for… and I didn’t see it worth the investment, as I’d rather invest in going to seminars or coaches/mentors instead, people that actually have the RESULTS that I’m after and modelling them.

  • Sounds amazing to be financially free Stefan! Thanks for putting this stuff out there man! Really great content you’re making. I’ve said it before but I’m saying it again.

    I’m temporary cutting costs on unnecessary stuff and (trying to) establish passive income trough products I’m making. Got some nice ideas I’m working on atm! Living this way adds a tremendous amount of excitement to your life IMO. Living on your own terms (kind of)

    I was wondering what sparked your desire for living this way when you were twenty years old?

    Anyway, just wanting to let you know that I look up to you. It seems like you have your life all sorted out; you’re jacked, healthy, rich, free, passionate, young, smart AND you know pick-up haha. Keep it up!

    Take care!

  • J&S

    Thanks Stefan. Your ability to be wise so young is amazing. Knowledge is power and Motivation is action. A powerful combination. You are inspirational and motivational to me. I’m building a private label for Amazon and it’s starting to take off and it’s awesome to see the bank account just rise. I’m a silent watcher but I’d thought I’d comment just this once. Proof that your fan base is bigger than your numbers.

  • tee

    Stefan James can you please provide an email that you consistently check.

  • Med

    Thanks Stefan,you are the real deal for us ,thanks for all your efforts putting for helping us.