46: Engineering Passive Income Streams to Fund the Life You Want with Financial Samurai

46: Engineering Passive Income Streams to Fund the Life You Want with Financial Samurai

This week’s episode features Sam Dogen from Financial Samurai. After one month working for a top investment firm, Sam knew 70-hour workweeks were not the life he wanted. So Sam took action immediately. Instead of fancy cars and dinners out, Sam shared a studio apartment with a friend and socked away HUGE sums of money—50% of mediocre starting salary. He invested in real estate (shocker), stocks, and bonds—and continued his massive savings rate. Taking advantage of the economic downturn, Sam engineered his layoff and an enormous payout. Sam now lives the life he wants, having set up multiple passive income streams during his working years. He spends time with his family every day and embodies the concept of financially free. He no longer trades his time for money; his money just simply reproduces itself and does all the heavy lifting. This episode is a great look at how a little upfront discomfort can lead the your best life. Links from the Show Craigslist PayPal BiggerPockets Jobs Why Households Need To Earn $300,000 A Year To Live A Middle Class Lifestyle Today (blog) Don't Quite, Get Laid Off Instead (blog) Learn more about your ad choices. Visit megaphone.fm/adchoices

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221: Hard Decisions Leading to a $170k Debt Payoff (During Covid)

221: Hard Decisions Leading to a $170k Debt Payoff (During Covid)

Darius Smith always knew how to make money, but wasn’t very good at saving it. Growing up, he had jobs ranging from delivering phone books, to running paper routes, to even putting up eviction notices...

9 Elo 20211h 17min

220: Finance Friday: How Do I Scale My Business But Reduce My Hours?

220: Finance Friday: How Do I Scale My Business But Reduce My Hours?

Entrepreneurs work long, stressful hours, and as a result, they get paid the big bucks. This is the position that Stephanie, a freelance Salesforce consultant is in. She makes a respectable income, br...

6 Elo 20211h 3min

219: Syndications: Everything You Need to Know BEFORE You Invest

219: Syndications: Everything You Need to Know BEFORE You Invest

You may have heard the term “real estate syndication” thrown out quite a lot over the past few years. It seems like almost every real estate investor is either starting a real estate syndication or in...

2 Elo 20212h 8min

218: Finance Friday: How to Plan for Inconsistent Income as an Entrepreneur

218: Finance Friday: How to Plan for Inconsistent Income as an Entrepreneur

Combining finances can be complicated, but what’s even more complicated is combining one salary with two inconsistent business accounts. How do you manage the household’s budget when you don’t know wh...

30 Heinä 20211h 12min

217: Don’t Quit Your Job, “Fire Your Boss” on Your Terms w/ Rahkim Sabree

217: Don’t Quit Your Job, “Fire Your Boss” on Your Terms w/ Rahkim Sabree

Rahkim Sabree “aspired to be poor” when he was growing up. He saw his parents collecting section 8 housing vouchers, getting food stamps, and thought that this was the way life was. He didn’t grow up ...

26 Heinä 20211h 14min

216: Finance Friday: Turning Spare Bedrooms into $1,000+ Extra Every Month

216: Finance Friday: Turning Spare Bedrooms into $1,000+ Extra Every Month

Amanda is making a teacher’s salary and spending her weekends working a part-time job at a grocery store. She contributes to her retirement accounts, but she could be sitting on a passive income gold ...

23 Heinä 202152min

215: FI: More Than Retirement, a Chance to Take Risks w/ Diania Merriam

215: FI: More Than Retirement, a Chance to Take Risks w/ Diania Merriam

After years and years of working in licensing, Diania Merriam opened up her credit report and saw that she was (collectively) $30,000 in debt. This forced her to ask the question, “what am I working f...

19 Heinä 20211h 21min

214: Finance Friday: Fighting Cancer, Starting a Family, & “Planting Seeds”

214: Finance Friday: Fighting Cancer, Starting a Family, & “Planting Seeds”

It’s hard to imagine what someone is going through once they’re given a cancer diagnosis. The last thing many people want to think about during such a troubling time is finances. This was true for Zac...

16 Heinä 20211h 18min

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