The Side Hustle Show 653: 3 Ways to Escape of the Rat Race
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Jan 27, 2025 Discover the secrets to escaping the rat race with alternative income streams! Learn about different pathways, from real estate to entrepreneurship, and weigh the pros and cons of each. Dive into the FIRE movement for financial independence and hear personal stories of transformation from job loss to investment success. Uncover how to leverage low-cost entrepreneurial ventures to control your financial destiny. This discussion is packed with strategies and insights for anyone ready to break free from traditional employment!
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Rat Race Escape Equation
- Escaping the rat race is simple: non-job income must exceed monthly expenses.
- This is easy to understand but achieving it can be challenging.
Calculate Your Freedom Number
- Calculate your actual monthly expenses to determine your "rat race freedom number."
- Intentional spending helps lower the bar for financial independence.
Traditional Investments: Slow and Steady
- Traditional investments offer liquidity and historical returns, but require significant time or money.
- The FIRE movement suggests 25x annual expenses as a retirement target.
