YouTube episode where Flip and Danny (founders of Freedom Real Estate Group) explain passive income, how to calculate a personal “freedom number” (monthly passive income needed to cover expenses), and steps to lower expenses. They describe two routes to passive income—building businesses that can be delegated (e.g., hiring a CEO) and investing for returns—and introduce a downloadable worksheet to compute current and reduced freedom numbers. The episode concludes with calls-to-action: download the worksheet and join a private Facebook group, plus a standard investment/disclaimer.
Questions this video answers
January 2, 2022
freedomcapitalinvestments.com/worksheet
facebook.com/groups/freedomthroughpassiveIncome
Hey, everybody. Flip and Danny here, founders of the Freedom Real Estate Group family of companies. And welcome to another episode of Freedom through passive Income. And today's episode, we're going to talk.
About freedom through passive income.
Shocker.
I thought that was a trick question. No, we did, actually. Good. Like, talk through this. And all of a sudden you said, I was like, what was it? So we are going to talk through what is passive income and what is your freedom number. That's why we set that up for a twofer. And I almost forgot all about it. So what is passive income? It's income that is coming in whether you're working or not, right? So you could have done multiple things. You could have done a little bit of work that then produced passive income. For example, our real estate businesses, that was not a little bit of work. That was a lot of work to build the businesses. But the end game was always to hire a CEO and let somebody else run it for us. So that would turn into passive income. After we're actively not involved, we're just out there going, good job, CEO. We love you.
That's right.
And then there's, you know, other things that you can have for passive income, meaning choosing to invest money in something that you really didn't have any job to do in the first place. You were just investing for a rate of return, 6, 8, 10, 12%. That's another way to produce passive income. So that's what it is. You want to not have to do anything. You want to be off in Australia, New Zealand. What's another place we want to go?
Australia, New Zealand.
You want to be there and you want the money to be coming in no matter what. So that's passive income, right? And then your freedom number is the number you need to get to so that you can go to Australia and to New Zealand. So we want to help you to find your freedom number because this is something that you did for us, right? You, you built spreadsheets and you figured out all the things that we needed to do and we needed to have coming in every single month in order for us to start doing what we wanted to do, in which we chose to keep working, which is fine. Not everybody's going to do that. We're a little crazy, or maybe I'm a little crazy. And you came on the stream. I don't know what it is.
I'm holding on with with all ten fingers.
So we want to help you do that. And so we actually created a worksheet for you to be able to download because we're going to start talking about what freedom means. And essentially the very first part of this worksheet is identifying what your freedom number is. And all it is is expenses. Right. You ultimately took a look at our expenses and said, this is what we spend every single month. This is how much we need to be making passively in order for us to go to Australia and not give a crap about what's going on over here.
Right.
And then there was another piece that we added to it that we're going to talk about again, but that piece was how to reduce the expenses. Right. Didn't you start. You just started slashing stuff, right. To take our expenses from one number down to another number so that the freedom number was easier to achieve.
I tried to figure out all of the. What's income, you know, everything that's coming in. And then I. Then I looked at everything that was out come outgoing and I just, I just, I went through every little thing and like, we don't use that. We're not doing that. Get rid of that. Or wait, what if we do this instead of this? And that saves us another. You know, every little bit helped and it took a. It was quite a long process, but we got it down and we're right where we want to be.
Yeah. So we ended up with two freedom numbers. Right. The very starting point, and that's what this worksheet did for them. They said, what are your current expenses? Figure them all out. And then, because you had to look at bank statements, credit card statements, all those types of things, put it in there. This is our freedom number. And then you said, how much can I get rid of? And that was an easier exercise because you just downloaded all that information. Right. So you just started saying, check, check, check, check. I'm going to get this instead of this. We can check, check. And then. And then you went, danny, here's our. Here's our new freedom number. Yep. Right. So that's the exercise that we wanted to go through with you on this sheet. There's going to be, I think, two other exercises that we put on there, but you don't have to go through them yet. We're going to talk about them in another video and what Flip did for us in order for us to figure out exactly how we were going to achieve the freedom that we wanted to have in order to make a choice of whether we wanted to work or not. We still want to go to Australia, and we will.
And New Zealand.
And New Zealand. But right now we're having fun Doing these videos.
That's right.
And heck, it might be within this.
You know, 2022, we might be doing this.
Oh, yes. It's gonna be fun. So if you want to download that sheet, you're going to go to Freedom Freedom Capital Investments. And that's with an s@the end.com forward slash worksheet. You got it. And so that's where you're going to go to download that. We'll, we'll say that phrase again on the next video when we're talking about the different sections of it.
That's really cool. And I'll have it like on the screen right here.
Oh, yeah, yeah. If you're watching YouTube, you're going to be able to just go, whoop. Yeah.
If you're not watching, it's freedomcapitalinvestments.com worksheets.
Yes. And so just as a reminder of why we're doing this, the Social Security Administration had done a study quite a while ago out of 100 people. And 92% of those people, once they hit the retirement age, they were broke, they were living off family, they were working because they had to. And we're all living longer. And it's going to be harder and harder for us to retire and have enough money to live off of only 8%. We're actually wealthy or financially free and we're able to retire. So we're doing our part to try and change that game. It's what inspired us to get where we are today so that we could retire when we wanted to and choose to work, not have to work. And we want to take a lot of more people on this path with us. So you want to talk about our Facebook group.
Yes. So we do have a special private Facebook group.
Yes.
And it's facebook.com groups, freedom through passive Income. Again, that's our private, one of our private groups. We do have a super, super dup, super private group, but it's a secret. We'll talk about that later. But so that's our Facebook group. It's right up top here. Or you can visit, visit us on our website, which is right down here. And That's Freedom Capital Investments.com so again, Facebook group up here, website down here. And again, we like to end all of our episodes with Invest Smart, Live Happy. Bye bye, everybody.
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