Most 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)
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!
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