Financial Freedom: 5 Frequently Asked Questions Answered!

Hey, what's going on? This is Jesse Ecker, managing director for Harvacker International, and welcome to this Facebook Live on T. Harv Eker's fan page. I'm going to be your trainer today and super excited to be here and be with you guys. Now I want to say something up front so that no one feels like we're being out of integrity or anything like that. I want to let you know that this video right now is not live. It is pre recorded. And, and there's a really good reason for that and I want to share that reason with you. So there is a chance that I might actually be in the hospital right now during this Facebook Live. And the reason for that is because this Facebook Live was scheduled to go out very, very close to when my wife Jen was supposed to give birth to our first baby boy. So this is a really exciting time for me. And we really also wanted to make sure that you got this video and we did this Facebook Live for you. We said we were going to do it and we want to make sure that we honor that. Now the reason why we didn't just create a video for you and put it online so that you could just view it is because Facebook lives are special. They are great because there's a whole big group of you now coming in and watching this. There's a bunch of people coming in and seeing this video and it's like a community watching this video together. So Facebook lives are special as for participation and energy and commenting and being engaged and listening and sharing this video. So we really want to make sure that. We really wanted to make sure that we put this on Facebook Live so that we could get that experience, so our community could go through this together. Because we have a really important topic we're talking about today, financial freedom. And I know from talking from so many of our students all the time, this is the ultimate goal. The ultimate goal is to be financially free. To be able to work if you choose to. To be able to feel, you know, stress free around money. To be able to just know that you have this security in your hand of money situation as as far as money goes. So really wanted to make sure that we, we gave this topic to you. Now for those who don't know me, the obvious is, is I am Harv's son. And what's great about that is obviously I've had T. Harv Eker as my dad obviously through my whole life. So I've got to experience things that most people don't get to experience. And I've had the blessing and I'm very grateful for being able to do that. He's taught me so many core values in my life and principles and strategies and methods that I've been able to use throughout my life and especially in my later years in my twenties and thirties to help me become what I've become today. And at 31, I have a net worth over a million dollars. So what he teaches works and that's the backbone of what I want to share with you. Because, you know, everything that he teaches, I've learned from him. I've been a sponge to him. He's done a great job of not handing me things, but making sure that I'm doing the things that he would do. And I've just been following that. So that's been a great opportunity for me. Also working with him for the last seven and a half years. It's been an amazing opportunity to study under him as far as, like what he would teach his students, exactly what he would say if questions came up, the exact principles, and just working hand in hand with him on all the different topics that he teaches. I feel very well equipped to pass that knowledge onto our students, especially the times that Harv can't do it himself. So it's our mission together to share his information more to the world and get more people exposed to this information so that more people become financially free so more people live a life, encourage and can really, really take action to create the life that they really want. They're not feeling stuck in where they are. They're feeling that they own their life. They create their life and they're able to make whatever they want out of life come to reality. So it's our mission to be able to share that knowledge with you. It's my mission to share his knowledge and a little bit of my own as well. To help you guys in your life to, for today at least get closer or on track to becoming financially free. So if that's okay with you, put in the comments. Hell yeah, or yes or I love it. So that people can participate so that they know you're engaged, so that people in the community are doing it together. And if you are doing that, I appreciate it and thank you so much. Also, feel free to throw me some likes, throw me some hearts. Share this video with your friends and family if you feel like it's something that's share worthy. But I'm going to do my best to give you as much information and content as possible over some of these questions that we got asked and I'm going to do that with you for as long as it takes. So obviously I can't answer anything live, as I explained, but I'm going to be answering the questions. We did a post on Harv's Facebook page in some of our private communities and we got some amazing questions. I really want to share them with you. Alright, now here's a really important thing. So these questions can be a little specific and some of you might be thinking, okay, well how does that relate to me? Or like why does that relate to me? And so I want to let you know that the mindset going into this is not if this relates to me, it's how can I make it relate to me? How does this question relate to me in my life? Directly or indirectly? And if it doesn't directly relate to you right now, please note that it will in the future. Like there's going to be a time where this is going to be very relatable to you. So understanding it and putting yourself in the position to learn and be engaged and say how does this relate to me? Is going to shift your mindset to a learning mindset to really understanding and really activating your, your learning part of your brain. So remember how does this relate to me? And go ahead and type that into the comments. How. How does this relate to me? How does this relate to me? Okay, thank you so much for your participation. I really appreciate it. The community, if you're doing that, thank you so much. And I know some of you are definitely doing it, so I appreciate you guys. Alright, so the first question that we had or the first question I actually have for you, which is one that I wanted to ask you was, and I'm going to be looking a little past you because I have my, on my other computer, I have some of the questions up. I want to make sure that I. So I want to make you to know where I'm looking. So the first question is would you rather be rich or financially free? And are they the same thing? So put into the comments right now what you think? What do you think? Would you or tell me what your preference is. Would you rather be rich or would you rather be financially free? And are they the same thing? Let me know in the comments. I'll wait a second. So would you rather be rich or would you rather be financially free? And are they the same thing? Now I'm assuming that a lot of people are putting both and that's a good answer, right? It's A good answer, Good answer. Because who doesn't want to be both? But the question again after that is, are they the same thing? Now there's this really common misconception that once you become rich, financially rich, not we're not talking about anything else of like a whole life successful, there's obviously a lot more to money. But today's topic is about financial freedom and money. So there's this, there's this misconception that if you become rich, you automatically become financially free. And this is just not true. It's really, really not true. It really depends on the person that's actually rich. So can you be financially free when you get rich? Yes. Can you not be financially free when you get rich? Yes. And here's why. There is, there is a definition that we use for financial freedom and it's you have to be earning more passive income than your living or desired expenses. So you money coming in passively. So not actively passively. So when you have passive income coming in, you need more passive income than active income. So my question for you is, what if someone who is very wealthy rich doesn't really have that much savings, right? They like to spend and they don't have any passive income. They only have active income. So their business or their job, their income is reliant on their business or job. So what if they stop working? Are they financially free? No, they're not. They have bills to pay still, they have a life to live still. They have all these different stuff that they probably have already, you know, that they pay on a monthly basis. And so do they have savings? Most likely they have some savings. They've done a good job with that. But does that mean that they're financially free and they don't have to work? Again, most likely not. Right? So rich does actually does not mean free. Rich does not mean free. Free means free. Rich can mean free, but it really depends. So here's the really, really cool part. Becoming rich or getting rich and becoming financially free, two different strategies, very, very different strategies to get rich and to get free are very different strategies. Now they have some similar components, but they're actually different strategies. So here's the thing. When we talk about financial freedom and our definition as having more passive income than your desired expenses, this goal of financial freedom for 99% of the people that we talk to is actually much closer, way closer than actually becoming rich. So if your goal is to become financially free, then you should be focusing on your freedom first. You should be focusing on going direct to freedom, directly to financial freedom. Because here's the thing, getting rich is not an easy thing. It's, there's a reason why they call it the 2% or the 1% of population because very little amount of people actually become rich. But becoming financially free is not as difficult. It's actually quite simple if you look at it in terms of you just need more passive income than expenses. Now getting that passive income takes some work, it takes some time, it takes some, you know, effort. You need to get really good at managing your money, you get, need to get really good at making money and you need to invest your money. But rich and freedom are two very different things. So when we talk to our students, at least when we talk to our communities, most people aren't interested in becoming billionaires. They don't give a shit. They just want financial freedom. They want that, that, that, that choice of do I work in this job that I don't like anymore or this what I'm doing, do I need to do that? I have a choice now and I feel comfortable that I can step back and do the things that I really love. They have this freedom of knowing that when they get to the end of the times that they actually want to work, that they are not going to outlive their money, which is a big problem because life expectancy is getting longer. So people are outliving their money and they're really struggling because they don't have any of it. And the main reason is because there's this promise, this old way of doing things where it's let's work, work and hopefully get rich or work, work and put it our money into retirements and 401ks and self directed 401s or Ross.