What does financially independent mean? Find out in this special, deep-dive podcast episode.
James defines financially independent:
James discusses how you need to have clarity on what financial independence looks like for you... especially as a real estate investor... and then what you need to do to get there.
What you NEED to be financially independent is your ultimate destination. That's what your budget looks like when financially independent.
What you choose to invest in is the path to financial independence. That's your action plan.
James provides you with The Ultimate FIRE Budget so you can plan your budget now, when you're at lean FIRE and when you're at fat FIRE... and specifically what your sources of income are for being financially independent at each of those three stages.
James also discusses Warren Buffett's two list strategy as described by James Clear and how that applies to real estate investors seeking financial independence.
Bonus conversation about whether you should pay off your primary residence or not and how that has far reaching implications on other financial questions.
Watch the video version of this class:
Resources Mentioned In Class
Download a copy of the newest version of The World's Greatest Real Estate Deal Analysis Spreadsheet™ by going to: