A school teacher and PE coach quit their job after years of planning using the "3 paydays" framework: cash now, income over time, and long-term wealth. Escape timelines range from nine months to three years depending on your goals. Don't wait for permission or ask people who haven't done it themselves.
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Have you started planning your escape yet? In some of our past events and/or videos, we've defined what planning the escape means, but what it means in our community is that we help people plan their escape, meaning leave their job. It's a fun project, and also we equate it to what we call in our community 3 paydays financially, because they can then predictably plan their escape. 3 paydays for us just simply means If you're new to these videos, pay now immediate cash, pay over time income over time, and income long term. It's like the ideal business model for any business. It happens to be how we do deals in real estate. But think about that: cash now, cash over time, cash down the road with some wealth building in between. That's pretty cool. So that's what planning your escape means. Let me give you a recent example. We had a school teacher and PE coach. After 23 years, just recently this week as of this video, give his notice. And he was ecstatic because this has been about a 3-year project. We've, we've had others do it in 18 months. We've had people do it in 9 months, 2 years. What matters is not the time frame, but what's important to you to plan your escape. So have you started that yet? If you dread each day, if you dread being away from your family, if your job includes travel, if it's just not a satisfying picture financially related to the job, any of these things that are going on right now, that's more important reason to go ahead and start planning your escape. So how about change now? And how about change super fast? The alternative is keep doing what you're doing and keep getting what you're getting. And I'm not talking down to any one individual because I've been through this myself. But think about it. If you keep rowing, In the same direction, you're going to get in the same exact location. So however many years it took you to get here, how about we again change now and change fast? Now I have 2 cautions I wrote down here on this sort of this planning your escape journey. One is please, please don't wait for permission, and please don't ask others for their opinion unless they've accomplished exactly what you want to do. Because everybody will give you their opinion. In fact, most don't want you to succeed. In fact, if you're not getting people saying to you, you're crazy, or you can't do that, or you shouldn't do that— if you're not getting that, I'd be shocked. It probably means you're not pushing the envelope enough. You're not planning your escape aggressively enough. I know in 2013, after 4 years coming out of the real estate crash, people told me numerous times— my wife reminded me of this recently— Chris, you're crazy. Don't do that. You just went through the crash. Don't go back into real estate. Man, what a mistake that would have been. So number one is please