Four steps to financial freedom in ten years: track every dollar, increase your income through skills and side hustles, invest surplus money in cash-flowing real estate, and acquire one income-producing property per year. The speaker built wealth this way and recommends it to you.
If you do these four things in order, you will become financially free in less than 10 years. Number one, track your money so you know exactly how much you're spending and saving. No one accidentally becomes financially free. Number two, once you're tracking every dollar, start finding ways to increase your income. That could be learning a new skill, earning commissions, or starting a side hustle. There's only so much you can cut, but increasing your income is unlimited. Number three, once you have more money, you need to start investing that money. Our favorite way to invest is in cash flowing real estate. This gives us more cash flow and appreciat. And number four, if you can buy one property per year for the next 10 years, you will become financially free and have the opportunity to live the life you want without a 9 to 5 job. Real estate made us financially free and it can do the same for you.
Physicians and High Earners — What Real Estate Can and Can't Do for Your Taxes
