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This is the first recorded listener interview in which Myles sits down with listener Alex and talks about his journey and challenges to be unconstrained. We hope you enjoy hearing his tale and how he has committed to the unconstrained journey.
I speak to a lot of people who are trying to attain financial independence and the reasoning goes something like this - “I don’t like my job, so I want to make a lot of money, save it and quit.”. I also speak to those that have done that, and they are not necessarily happy either. Let’s put this all into perspective, and talk about “Why” we do this.
I was recently asked by a listener who is in his 20s, what my life looked like back then, and what did I do in my career, and what I learned from it. Let me venture down my memory lane, tell you what I learned and you might get to know me a bit better by the end of this episode. Strange thing is that I think I know myself better from recording this now.
It has taken me decades of mistakes to come to the realization of all the time wasting business endeavors that I’ve pursued and how stupid they were. Not because they didn’t make money, but because they became an albatross around my neck due to misunderstanding the entire point of Smart Income. In this episode I’m going to tell you the secrets, so you can avoid my mistakes and fast track yourself to financial freedom.
We’ve been programmed into thinking about saving for retirement like it is a ceremonial event throughout our working lives, and that if we don’t do this we are doomed to live on the street, in a cardboard box, or die early. I’m going to dispel some of these myths and explain some alternative thinking you might want to entertain in this episode.
When I speak with people that are working a 9-5 job, investing in their 401K, etc. they ask me why they are not getting ahead. It is hard to tell them this, but I’ll tell you - it is because they are not taking any responsibility for their lives and deferred it to a third party. The unconstrained know the buck stops on their desks so let’s have a chat about responsibility.
There is no progress without risk. Investment returns are tied to risk. You get up in the morning and live your life - that’s a risk. There are risks everywhere. The key is knowing your tolerance for risk, how to manage and live with them, and seek out enormous returns with proper risk management.
The traditional thinking of Financial Independence is to amass a large amount of cash by savings, then invest it at interest rates that return more than a draw rate, and eventually you can retire. In this episode we are going to burst that bubble by focusing on the falacies of this approach and how Financial Sustainability offers a contrarian position that you might want to entertain.
This episode shines a light on the choice of going to college. Parents and students are trying to make the right decisions for this important choice. I am going to give you some ideas you may not be yet considering... The Red Pill approach.
I am 100% financially sustainable because of my rental real estate investments. But it didn’t start out that easily, so I’m going to share what worked and what didn’t work in my real estate portfolio and how, once you discover what works for you, you can scale it to the moon and live 100% financially independent and sustainable.