Fit Rich Life Cody Berman: A Self-Made Millionaire by Age 25 Shares His Wealth-Building Strategies | Episode 4
What would life be like if you had enough passive income for you to live on without trading any of your time for money in return? What if you no longer have to work for your money, but instead your money is always working for you? What would you do with your time? A life like that would likely be pretty awesome, right?! So what does it take to get there? In this episode, Cody Berman, an Entrepreneur, Real Estate Investor, Podcaster & Millionaire (by age 25) shares his path to Financial Freedom at such a young age. We also talk about healthy competition, investing in relationships, travel hacking & much more! Tune in to get inspired to start building the life of your dreams!
Key Highlights:
[00:01 - 10:44] Opening Segment
- How Cody became a millionaire at a young age
- The value of having a saving mentality
- What Financial Independence means
[10:45 - 22:19] Get Out of Your Comfort Zone
- How to pursue Financial Independence
- Why Cody decided to start a podcast and a blog
- Check out The Fi Show
- Why Cody decided to quit his job to join a book tour and ended up traveling around the US
[22:20 - 31:19] Selling Digital Products
- Cody's experience getting to over a million net worth
- How his income has doubled every year since 2019
- Cody shares how he got into digital products
- The beauty of Etsy printables
[31:20 - 41:56] Building A Path To Financial Independence
- Things that contributed to achieving a millionaire status
- Investing in real estate
- Cody's experience doing his first house hack in 2020
[41:57 - 54:32] Invest in Your Network
- Cody's outlook on investing in real estate
- How people can get into syndication
- The three parts to Financial Independence
- Saving, earning, and investing
[54:33 - 1:07:18] Health is Wealth
- Cody's insights about frugality
- When you should let go of some of the frugality
- How to use the money to create a life that you love and amplify your wealth-building
[1:07:19 - 1:18:27] Develop a Network and Create Wealth for Yourself
- The importance of investing in personal development
- Start to be more aware of your expenses
- Cut the fat on your budget
- Cody talks about his passion for travel
[1:18:28 - 1:30:53] Viewing Competition as a Healthy and Motivating Force in Your Life
- Tips for people who want to travel more efficiently
- Travel hacking can help you save money on your travels
- Cody's outlook on competition in business and sports
- Healthy competition is key
[1:30:54 - 1:38:56] The Power of Relationships
- How relationships have helped Cody to build wealth so fast
- Be intentional with relationships
- It's not about having fake relationships, it's about investing in great real relationships
[1:38:57 - 1:43:14] Closing Segment
- Don't be afraid to take action
- Face the fear for 5 minutes and transform yourself
Want to connect with Cody? Follow him on Instagram & check out Gold City Ventures to start and grow your own online business!
Resources & Links Mentioned:
Gold City Ventures E-Printables Course
Financial Freedom by Grant Sabatier
The 4-Hour Workweek - Timothy Ferriss
Tim Ferriss Podcast w/ Mr. Money Mustache
Mr. Money Mustache Blog
FinCon Expo: Where Money & Media Meet
Set for Life by Scott Trench (good House Hacking resource)
Topia: Financial Independence Tracking App
All the Hacks Podcast w/ Chris Hutchins
Doctor of Credit - Credit Cards & Travel Hacking
Key Quotes:
"Being able to fail and fail fast is such a superpower." - Cody Berman
"Most people should probably start with frugality because that's the easiest way to change your financial situation." - Cody Berman
"The fastest way to improve really any area of your life is to model someone else who's already where you want to be." - Justin David Carl
WANT TO LEARN MORE?
Follow my personal website: https://alchemizelife.com/
Follow my Instagram, LinkedIn, Facebook, Youtube, & Twitter
Show Notes: www.alchemizelife.com/podcast/codyberman
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