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(743)

278: Finance Friday: How to Quell Your Money Anxiety (Even as a High Earner!)

278: Finance Friday: How to Quell Your Money Anxiety (Even as a High Earner!)

If you want to know how to save money, just look at your expenses. Odds are, if you’re like most people, you aren't budgeting or tracking your expenses to a tee. But there’s no need to be so hard on y...

25 Feb 20221h 11min

277: Fighting the “Hustle Culture” That Ruins The Joy of Financial Independence w/ Pete McPherson

277: Fighting the “Hustle Culture” That Ruins The Joy of Financial Independence w/ Pete McPherson

“Hustle culture” has been a term for the past decade or so. It somehow became a badge of honor to prove that you’re working the hardest, longest, and most stressful job around. You can handle it, you’...

21 Feb 20221h 24min

276: Carl and Mindy’s Spending Summary: Why Did We Go So Over Budget in January?

276: Carl and Mindy’s Spending Summary: Why Did We Go So Over Budget in January?

Emergency funds, frugal experiments, free photons, and “thoughtful spending” were just a few things that came to light during Carl and Mindy Jensen’s January 2022 budget recap. If you didn’t know alre...

18 Feb 202247min

275: The Most Common (and Rarely Discussed) Money Mishaps w/ David Pere

275: The Most Common (and Rarely Discussed) Money Mishaps w/ David Pere

Lifestyle creep, budget hesitancy, and cash scarcity are problems you’d likely hear from someone just getting into the realm of financial independence/literacy. But, funnily enough, these wealth woes ...

14 Feb 202254min

274: Finance Friday: What’s The Best Way to Buy Rentals—Partnerships or Solo?

274: Finance Friday: What’s The Best Way to Buy Rentals—Partnerships or Solo?

Rental properties can be a phenomenal second source of income for the majority of us who work at regular jobs. One or two rental property purchases every year or so can slowly, but surely, build a str...

11 Feb 20221h 19min

273: Breaking Down Barriers: From Homelessness to Renowned Surgeon w/Dr. David L. Rhoiney

273: Breaking Down Barriers: From Homelessness to Renowned Surgeon w/Dr. David L. Rhoiney

The poverty cycle is a hard one to break out of. For some people, it is near impossible to climb yourself out of the hole that society, family, or unfortunate circumstances have placed you in. But som...

7 Feb 20221h 22min

272: Finance Friday: Should You Pay Off Your Mortgage Early or Invest?

272: Finance Friday: Should You Pay Off Your Mortgage Early or Invest?

Ahh, the age-old question: pay off your mortgage early or invest? It’s no wonder so many members of the financial independence community have strong feelings about one or the other. With a paid-off mo...

4 Feb 20221h 9min

271: The 4 Rules of Managing Your Money w/Jesse Mecham from YNAB

271: The 4 Rules of Managing Your Money w/Jesse Mecham from YNAB

You Need a Budget is the expense tracker/budgeter that requires no introduction…but we’ll give it one anyways! In 2004, Jesse Mecham launched this ground-breaking software, allowing money masters and ...

31 Jan 20221h

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