Discovering how passive income and leverage works and putting those concepts to use helped me and my husband Jimmy claw ourselves out of $600,000 of debt when we were forced to sell our business in the 1980s for way less than we owed on it.
These days we strive to show others how to do what we did, shifting their mindset on money and what it can do for them. It's all about leverage and making your money work FOR you.
On our podcast Everything Life And Financial Freedom, we discuss mindset, talk to others who are building passive income through interesting and unique ways, and share our experience in real estate investing. New episodes go live every other Thursday!
Your “Freedom Number” is the amount of passive income you need to generate each year to sustain the lifestyle you have or the lifestyle you want when you no longer wish to work or simply want the freedom of your time and your money.
Submit your email and I'll send you a copy of our Freedom Number Worksheet. This is what we developed years ago to help us get out of debt and create a life of true financial freedom!
There are moments in life when the unexpected happens.
Some people continue to coast through life as if nothing happened. Others take steps to course correct. It can be a life-changing illness, a downturn in the economy, a bad investment, or any other life-altering experience.
Many people reached out to us during the pandemic, as that's what caused them to want to take action and make a change.
For us, it was when we suddenly plunged over $600,000 into debt during the economic downturn in Texas during the 1980s
We decided to make some changes. We started to build wealth, first through real estate investing, then through other methods of passive income: owning businesses and owning stocks. It took us a few years, but we were able to achieve true financial freedom.
We would come up against another life-changing experience; our son-in-law was diagnosed with terminal cancer. The wealth we had built through passive income–income continued to come in even though we stepped away from the day-to-day management of our investment properties and our businesses.
It allowed us to take the better part of a year off and spend time with him, our daughter, and their children before he passed.
That financial freedom allowed us to be where we needed to be for as long as we needed to be there. And it all started with creating our Freedom Number back in the early 1990’s. That one seemingly insignificant decision was the catalyst that allowed us to create a life by design not default.
So, if you are ready to begin creating your life by design, a life of freedom of your time, money and choices, then it all starts with knowing your Freedom Number!