Did you know that passive income is one of the best ways to build wealth? It sounds pretty good, but passive income also has some flaws. The problem is when most people talk about passive income it isn’t actually passive income, like buying a business where you actually have to work. The true definition of passive income is to have money coming in when you aren’t working, aka when you’re sleeping money is flowing into your bank account. That sounds pretty great to me. But how do you actually build passive income?
That’s where our guest, Chris Miles the Cash Flow Expert and Anti-Financial Advisor comes in. He has used his passive income skills to become financially independent twice and paid off over $1,000,000 in debt after the last recession without filing for bankruptcy. In this episode, Chris is sharing how to create multiple streams of passive income on virtually any budget, why traditional financial advice sucks, and why true wealth can’t come from a scarcity mindset of saving and only contributing to your retirement accounts contrary to what the Dave Ramsey’s of the world spews to millions of people. You won’t want to miss Chris’ very candid take on this. This episode will have you thinking outside the box when it comes to building wealth, and as always, take what works for you and leave the rest.
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Favorite budgeting apps – You Need a Budget & Monarch
Best High Yield Savings – Marcus & Ally Bank
Favorite online bank account – Chime
Best climate-conscious online savings & bank account – Aspiration
Best Business bank account – Novo
Personal loans – Upstart
Affordable Life Insurance – Ladder
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Any product or financial recommendations provided by Everyone’s Talkin’ Money and Shannah Game are made solely in the author’s opinion and do not constitute professional financial or legal advice. All content is for educational purposes only.
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