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

Episoder(741)

Finance Friday: Can I Still Reach FI by 45 If I Quit My Job?

Finance Friday: Can I Still Reach FI by 45 If I Quit My Job?

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The 5 Biggest Money Fears Keeping You from FIRE (and How to Overcome Them)

Many people struggle with money anxiety, even those in the FIRE community. Your money fears could keep you on the sidelines, or it could have the opposite effect, making you ultra-conservative with yo...

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$200K/Year & Early Retirement in 10 Years by Being a "Lazy" Investor

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Dion McNeeley retired in just ten years after starting from not just zero but NEGATIVE. He was forty years old with $89,000 in debt, had no assets, a low-paying job, and zero investing experience. Tha...

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Are you beating the average American in personal finances? Today, we’re sharing the average net worth by age to see where exactly you stack up. Whether you’re in your twenties, thirties, forties, or f...

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There’s a “middle-class trap” that can keep anyone from FIRE—yes, even high-income earners. Today’s guest has a sizable nest egg that should allow her to retire early, but there are a few roadblocks i...

29 Nov 202458min

7 Scorching Money Hot Takes That Will Make Your Financial Advisor Cringe

7 Scorching Money Hot Takes That Will Make Your Financial Advisor Cringe

Is frugality overrated? Is hustle culture a waste of time? Do we over-save for retirement? You don’t have to look very far to find a hot take online, but is there some truth to these opinions? Today, ...

26 Nov 202444min

FI by 34 After Making “Calculated” Bets that 99% of Us Would NOT Take

FI by 34 After Making “Calculated” Bets that 99% of Us Would NOT Take

If you follow the almost unbelievable path of today’s guest, you, too, could achieve financial independence in your thirties. Would we recommend mimicking his strategy step-by-step? No! Because if you...

22 Nov 202449min

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Making Six Figures While Living Abroad (NO W2!) to FI Even Faster

Would you move abroad to reach FI faster? That wasn’t Brooklin Nash’s original goal when he left the US and began freelancing from afar. But now, years later, he realizes how much of a leg up he has f...

19 Nov 202441min

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