In Part 3, I reveal the passive income business system that I developed as my custom 7-Year fast-track retirement game plan.
First, let’s recap.
In Part 1, I laid the foundational understanding that I developed in the beginning. That is, an understanding of the new term that I had discovered in the world of finance called “earning power.” We both now understand that increasing your earning power must be your first goal toward ultimately earning safe passive incomes.
In Part 2, I outlined for you the six-steps strategy that I planned to use to reach a comfortable retirement income in a 7 years time frame,…at best and in a worse case scenario, a 15 year time frame.
Now here in Part 3, I really get clear on what it really would take each step of the way to reach a million dollars in income for a comfortable retirement in 7 years. Yes! That was my goal. I wanted to become a millionaire. I wanted to build up a financial estate that would outlive me.
Let me start off Part 3 with asking you a question.
Would you rather achieve your secure financial estate goal sooner than later?
To have a secure financial estate means that you make money while you sleep and that money-generating machine can be passed on to your children. You will have finally ended that cycle of working hard but staying broke—for yourself and for your children’s children.
I’m about to share with you a secret that I discovered to generate the level of income that would enable you to retire in less than 10 years. You see, I had to find a way to establish passive income in less than 20 years because I have no retirement nest egg to speak of at the age of 48. And I don’t have 40 years to build one.
Are you ready for this?
My Passive Income Business System
I have designed my own fast-track strategy to retire in 7 years instead of 40 comfortably. The fast-track secret to being positioned to retire in seven years is found in implementing these four key financial practices simultaneously:
Debt Avoidance and Elimination
Let me define for you what I mean by these terms so I can be very clear.
Debt Avoidance – to prevent at all cost taking out any loans for anything even for school or to buy a home.
Debt Elimination – to have no loans at all to repay including school loans and home loans.
Income Generation – to generate income from actively working on the job, in an entrepreneurial venture or business at an increasing scale as you improve your marketable skill level to match your desired pay.
Lifestyle Moderation – to reduce your living expenses to a moderate lifestyle to the cost of ultimately 50% lower than the income you make.
Wealth Creation – to create multiple passive income streams that combined equals a minimum net worth of $1 million dollars of passive income or build an inheritable financial estate in assets worth a minimum of $1 million dollars.
These five financial practices are not new innovations. They have been taught by financial experts for years. However, I have developed a unique strategy to making them work for you in hyper speed to buy you your freedom and never having to work again a day in your life if you don’t want to. I have calculated that these five financial practices when employed in a uniquely, orchestrated way, grant you financial independence in seven years instead of the commonly accepted 40 years of working until retirement. This can happen because when these five secret weapons are deployed simultaneously, they accelerate your achievement of financial independence.
For years, I have been a student of finance, wealth creation, personal success and self development studies. This knowledge combined with the insights gained while interviewing experts for my Passive Income Development Lab at my website, Offtheklock.com, gave birth to my unique step-by-step fast-track retirement strategy and game plan.
Pat Flynn from SmartPassiveIncome.com has it right. I just found this video where he explains his passive income business model that has worked for him. Watch it below.