What is Financial Freedom?
What is financial freedom anyway?
Is it the ability to buy all the things you want? To live in a big, beautiful house? Upscale dinners and flashy cars?
No. Rich, even wealthy, does not equal financial freedom. There are plenty of rich people that work constantly to feed their extravagant lifestyles.
Instead, an individual who does not need to work for money is truly financially free.
No matter how much one “makes”… whether a store clerk or a sports star, they’re still transacting their time for money.
The point is that no matter how much someone’s time is worth and no matter how much they enjoy their work, they’re still transacting minutes, hours, days, months and years of their life in exchange for money. To be truly financially free, money has to show up without you having to. The minimum requirement would be enough continuous passive income that your bills would be paid month over month without having to put in a minute of work.
To be truly financially free, money has to show up without you having to.
Now… if you love what you do, then great! The goal shouldn’t be to stop working. It should be to pad your earnings with passive income streams that can supplement it, and eventually replace it if you choose. And if you don’t love what you do, then all the reason to more aggressively implement these strategies.
Life is short. Don’t waste it working 30 years doing something you don’t enjoy just so you can “retire” one day to a beach that will surely get old much sooner than you think.
Cash flow investing allows you to do a lot of things: work less, spend more time with family, travel or commit to causes that are important to you… In essence, it buys time freedom, because when you don’t have to spend time earning money to support your lifestyle, you can devote it to the things that are most important to you, that bring the most satisfaction or that create the biggest impact.
So how do you achieve financial freedom? It’s very simple.
- Live below your means. (There are plenty of people making $500,000 a year who live paycheck to paycheck). Although they may make a great living, they will always have to work to continue generate that income. Get off the hamster wheel! Save money to invest.
- Buy cash flowing and appreciating assets like real estate and notes (not expensive residences, cars and boats).
- As cash flow builds, re-invest it into additional cash flowing assets to grow your snowball of income.
Private equity real estate syndications like the ones Turbine Capital finds, vets and co-invests in provide some of the best risk-adjusted returns on the planet.
Stick with us to learn more about how we find deals with superior risk-adjusted returns, robust cashflow and tax benefits.
True financial freedom can happen a lot faster than you think.
About the Author
Tait Duryea is an active real estate investor with extensive SFR and multifamily value-add experience and has been passively investing in self-storage, multifamily and development syndications since 2017. He specializes in the due diligence and financial analysis of syndicated offerings.
Tait founded Turbine Capital in early 2020 to advance the financial aptitude of his colleagues, and to provide direct access to superior, pre-vetted private placement investment opportunities.
Tait is a captain, instructor and evaluator on the Airbus A321 for a U.S. major airline. When not flying or working on his business, he can be found traveling the world surfing, skiing, snowboarding, skydiving, and sailing.
