53: Building You: What’s Your Income and Cash Flow?
Released Oct 16, 2015
Your income and cash flow tell you about yourself and your allocation. What proportions are active, earned, and passive income? Where are you vulnerable? Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Receive Maverick turnkey RE webinar opportunities. Listen to this week’s show and learn:
02:45 Most people’s #1 cash flow source is their work-a-day job. But they’re trading their time for dollars.
04:02 Here’s how to best determine your cash flow. Cash flow is simply income minus expenses.
05:54 Current U.S. median household income, Top 10%, and Top 1%.
10:02 You need cash to function in an economy, not equity.
11:32 How you can have a negative net worth, yet be financially free.
15:25 Trace your personal cash flow to different industry sectors.
22:04 “Budget” is almost a swear word.
25:07 Turning equity into cash flow.
28:14 “Retirement calculators” don’t work for real estate investors.
32:12 The Outsourcing Myth.