Financial Freedom in Roofing: 5 Money Moves to Live a Rich Life

Financial freedom is possible from roofing. So in this video, I'm going to teach you five money moves that can help you live a richer life. Listen, I'm not a financial expert nor an advisor, but I am about to teach you what I wish I knew when I got started making money. Because very quickly I went from making $19,000 and change a year to six figures in eight months. And then my income has skyrocketed since then. And if I had practiced these five things back when I first started making money instead of letting it flow out as easily as it flew in, I'd be even further along than I am today. And I've watched with myself included in this, by the way, what happens when people are new to making money. And not even only people that are new, but oftentimes when you go from to 5x your income like it opens up a world of possibilities. So that one motorcycle you always wanted, you can get it. And not only can you get one, you can get two, maybe even three. Swap this one for that one. I ran that one for six, six months. Let's buy this one. It can be boats, it can be cars, it can be hunting and fishing equipment. Whatever it is, the money flows out easier than it flows in, which is why you'll see people who made multi six figures come to the table asking for a draw in the very next season. So one of the things I'm working on here on my channel and in my community is to help great people play their best game in sales, marketing, and business. And for that, we need some cash. So let's jump into these five tips right now. Roofing sales is personal development in disguise and the reward for growth is life changing. I hope my content helps you create a richer life and bank account. All right, I'm going to run through all five of these. These apply equally to sales reps and owners. It doesn't matter. The more you make, the more powerful these become. But let's start with number one. I wish I started doing this. Take a percentage of every penny that comes in, save it and invest it. If you need a book to help, read Profit first by Mike Michalowicz. Great book. Every penny that comes in, that goes into a savings, this goes into investments. And when it's scrubbed off the top before it hits your pocket, it's golden. And my tip to you, set up separate bank accounts so when you get paid, boom. It gets filtered in. Out of sight, out of mind. Tip number two, live below your means, not within, but below. You will find that really wealthy people spend a very small percentage of their income and then they invest everything else. And then as they grow, this gap grows and grows and grows. But what's interesting is you'll find a lot of I call them rich broke people, that this is what happens, their lifestyle scales with their income and then this is their lifestyle and they're like, wait a minute. And then now they're neck and neck and they're still living paycheck to paycheck. And it's amazing, someone who's making six figures, multi six figures million dollars, multi million dollars a year when they're spending as much as they earn, they're no better off than someone who's earning $20,000 a year paycheck to paycheck. They just have higher risk, higher liability and more expensive problems. And they're teetering with all these expensive things in the lifestyle on one bad decision that makes them go bankrupt. So you know, you've heard like big money, big problems. It's true. If they overextend themselves, which I have a true story for you on that in a second. Then the one thing that they do, it's like, wait a minute, I just bought a fancy car for example, and then something went wrong and it's a $15,000 repair. Well, now you're playing with $15,000 problems when you're already playing at the top end of your lifestyle. It was about two years ago. It's true story. I was at roofcon and I talked to his sales rep and he was so excited. He's like, I made $450,000 last year and I got $900,000 in cars. And I'm sitting here and I was like, wait, what you're doing? You're Serious? You have four, you make 450 a year, but you have over $900,000 in a depreciating liability, not asset liability. Cars go down, very few of them go up. And if they go up, they're not going up in a way that people really make money on. Right? That's like. So my point is like he's living far beyond his means and it was like this badge of honor. I got $900,000 in cars and I'm like, But you make 450 a year? Dude, do you own a house? Like what kind of liability when things go wrong? So anyway, live below your means. Alright, Number three, build your passive income plan. Now I love that quote that a goal without a plan is just a wish. So what you can do is set a goal. What's amazing. When I did this for myself, I set a really small goal. I was like, I'm going to get at that point. Well, I guess small is all relative and at scale, right? I was like, I'm going to generate $5,000 a month of passive income. And I had this plan in place and I just started thinking and I was at zero and I'm looking at five and I'm like, holy smokes, that's a huge gap. How do I get $5,000 to come to me when I'm not even working? That's nuts. And because I had that plan in place, I could then build it backwards. And then I blew that plan out of the water. And I was like, you've got to be kidding me. This happened. It happened years faster than I expected. It was like a five year goal. I'll get to this. But when you have the plan, you start working towards it now, and it doesn't matter. Every penny put aside grows. In fact, I just talked to a friend of mine who's switching jobs. They have five, or, excuse me, $50,000 of stock options from this company that they can cash out. And like, man, I'll be leaving on the table if I switch jobs. I know 50 grand is a lot, but I'm young and in the grand scheme of my life, and I'm like, I just busted out a compound interest calculator. I'm like, you're just shy of 30. And if you put that 50,000 into a very conservative vessel, it's 7% interest with compound interest. By the time you retire, that's worth over a half million. It's like $533,000. So again, you got to start somewhere. Build the passive income goal in a plan now and start working towards it. Because even if you get a dollar a month, guess what? It's a dollar more than you had. And then if you keep doing this, your life is never going to be the same. I wish I started this way sooner in my life, by the way. All right, number four, search for opportunities outside traditional paths. I opened up the Roofing and Solar Reform alliance event last year saying this. I know that this is going to be offensive to some, but it's the harsh truth. And I have a saying that I love enough for you not to like me for a little bit. But the harsh truth is that there are two sets of rules in life. There are rules for everybody, and there are rules for rich people. And when you look at how rich people make decisions and play the game of life, and play with their money. They do things that are non traditional and usually these things are a very well guarded secret. It's who knows who and what opportunities are available and you won't find people. If you look at tiger 21 for example, that's an organization for people who are worth their centimillionaire meaning earning over a million dollars. And you look at their asset portfolio, there's a very small amount that's in the stock market. So for those that are going down all the traditional paths, that's great. You should. And you can look elsewhere because these other investment options are insulated from the stock market. You can find private placement, private equity in oil and gas, interval funds, private debt funds, real estate and more. Now I'm not a financial advisor. You need to find someone in alternatives. Now some of these are only available to what's called accredited investors. The guidelines for that change based on government regulation. So you can just type in like Google accredited investor, what are the limits? And you'll see but the high earners and owners of companies like that's the place to play and find the. It's hard to say better because it's all depending on what you mean. But that's where again the two sets of rules, these things you're not going to find by googling, it's getting an introduction into an alternatives advisor and looking in places that are outside the norm. And again, I wish I did that far, far earlier in my life, but I didn't know anybody to kind of bring me into that world. So again, surround yourself with amazing people. I in fact brought one of the investment advisors I work with into RSRA to share some of these opportunities. We've had quite a few of our members using them, some of them have incredible tax advantage, etc. Okay, now number five, this is a big one. Invest in your financial education. Now for those that don't know, I was in the same math class four years in a row. That's not a joke. I was in. What was it? It was pre algebra and then I moved schools and it was intro to algebra and then I moved schools again. I was in different schools four years in a row and then I was in algebra and then the next one I was in algebra. Okay, so I guess technically it was like pre. They had different naming conventions. My point is my brain like math, numbers, finance, it scared me. I had money avoidance. I was really great at making money, terrible at managing it and I avoided that, which was uncomfortable to me because I'm not a numbers guy. And then I started investing in my financial education, my financial literacy. When I'm investing in oil and gas investments or other alternatives, I read everything. By the way, in the investment world, they say that there's two types of people. What is it investors don't read and readers don't invest? Man, I butchered it. But the point is, like, most people don't read this stuff, but I do, because I want to understand. I invest in the things that I can understand and articulate to others. So in the oil and gas investments and these funds and this real estate fund and that, you know, medical device fund, in this private debt fund, I know what's going on and how they work because then I feel more confident, like, okay, so that's how the returns work. And I read the statements. So invest in these because you can learn example like tax strategy, investment strategy, financial literacy, and the more you know, the more empowered you feel to take control. Because even on your tax strategy, if you're like, wait a minute, I could have been doing these little things, all of that adds up and you can keep more of your hard earned dollars instead of donating it to the IRS to blow on whatever. You can ask how I really feel. I probably shouldn't share these opinions publicly, but I just did. I just. I think that all of us are entitled to play by the rules because let me tell you something I learned. And you can agree or disagree, but the rules of the IRS are written in a way to say, become our business partner. Think of it like that. The IRS rules are be our business partner. So they incentivize where they want to see the economy going, which is why there's such incredible tax advantages to oil and gas into real estate into business owners, because our government wants to support these things. So you basically are saying, hey, I'm going to partner with you, Mr. Government, the IRS, Uncle Sam. And we're going to incentivize growth as our economy so you can learn how to play all your chips, the best way to work hand in hand and keep more of the hard earned money that you make, which you can then again put towards your investment vessels. So there you have it. Five simple steps to achieve financial freedom using the high earning potential of roofing. Number one, scrape out a percent that you save and a percent that you invest. Number two, live below your means. Don't spend everything. I've gone down that road. I hope you can learn from me. Number three, build your passive income plan now. Number four, search for opportunities outside the traditional world. Uncommon results are caused by uncommon action. Number five, invest in your financial education. I'd love to hear from you. What have you done? What's your, like, secret sauce to financial success? Drop it in the comments below. Thanks for joining me in this video and I'll be seeing you on the next one.