Our guest today is the best-selling author of two books on financial literacy; Money Honey and Passive Income Aggressive Retirement, Rachel Richards. She’s a former financial advisor and a real estate investor with almost 40 units. She quit her job and retired at the age of 27 and now helps thousands of people work their way out of financial despair.
Rachel is now living off over $15,000 per month in passive income and is on a mission to empower female millennials to take control of their financial future.
In this episode, we discuss how and when Rachel developed her passion for financial independence and garnered the courage to execute her ideas. Rachel shares the major lessons she has learned in her journey from a corporate job to living off passive income.
Some Questions Asked:
- [2:48] Did you purposely seek out real estate for the passive income and what made you think, ‘this is what I want to pursue’?
- [10:16] When you wrote your first book, what were the carols for writing that first one?
- [13:07] You pursued it so aggressively and so young, is it that you really just didn’t want to have a day job? Is it that you really want to feel secure in your financial future? What gave you the fire in your belly?
- [27:48] Tell us about the book and the impact that it’s made in your reader’s lives.
- [43:14] When you see people that have so much passive income that they really don’t need to work, what are the commonalities that you see?
In This Episode You Will Learn:
- [2:01] How Rachel left her corporate job and is now living 0ff $15k per month from passive income.
- [2:59] Rachel explains how she got into real estate intending to retire in her mid-thirties and ended up doing it even faster.
- [8:13] How she learned to handle rejection and to stay persistent to find those who will say yes.
- [10:21] How offering financial advice to family and friends led her to write her first book and her passion for passive income led her to write the second one.
- [13:21] Rachel’s fear of being financially unstable and how it has driven her to achieve what she has now.
- [16:03] Selling knives taught her how to trade her time with better value.
- [19:47] The pivotal moment when Rachel wanted to give up on writing her first book and how she rose back up.
- [23:37] The unique voice in you and how to use it to make a difference.
- [27:52] How Rachel’s book teaches people to increase their income and decrease their expenses to increase their expenses.
- [34:07] The small steps that will help get you closer to your goals.
- [36:35] Learning from people that are many steps ahead of you by investing in it.
- [39:36] How to protect your time- why saying no is a much more powerful response than saying yes.
- [43:35] The power of execution in separating your ideas with the rest of the world.
- [49:03] Rachel describes some ways you can make passive income even with a day job.
Connect with Rachel Richards:
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