This is a YouTube video titled "The Simple Strategy that Boosted My Wealth #wealthbuildingtips #realestate #thefreedomshow" containing a monologue by a single speaker discussing the difference between financial success and financial freedom, emphasizing the importance of focusing on passive income as a financial goal. The content was created in May 2024 and centers on personal financial strategy and mindset.
There is a difference between financial success and financial freedom. So let me explain the difference. Most people are setting goals about they want to do more deals, they want to make more money, but they're not setting goals as far as their passive income. What we did differently after bankruptcy is the only goal I set was financial passive income. We just stayed focused on that. I had so many opportunities to make more money, open more businesses, I turned them all down. I would always ask myself one question and one question only. How does this directly or indirectly increase my passive income? People, period. Every time I went to go do something before I did it, I'd ask myself, does this improve my passive income? Yes or no, Directly or indirectly? And if the answer is no, I didn't do it, I know that sounds so simple, but that was literally the answer and how we were able to achieve it so quickly. Everything we did involved passive income, period. And what you focus on is what you get. So I stopped focusing on all this other crap and wholesaling and flipping and all this other stuff that everybody wants to do, and you get sucked into it. You're into that for three, four, five years, you look back and you've done nothing for passive income.
