Storage Wins EP040: Jack Bosch Reveals Helpful Strategies to Achieve Forever Cash — Not Temporary Cash
Jack Bosch is a well-known figure in real estate and the author of Forever Cash. In his book, Jack busts the myth that it takes a full lifetime to acquire and retire on enough wealth. According to Jack, most people are living on one-time or temporary cash, where they're just earning enough to make a living, but what you really want to achieve is the 'forever cash' model through investing in viable businesses.
Key Takeaways:
- When it comes to financial freedom, there's two parts to it.
- What does Jack's business look like today?
- Jack is in the process of buying an apartment complex in Louisiana.
- How did Jack get out of the entrepreneur's rat race?
- There's 3 types of cash - One-time cash, temporary cash, and forever cash.
- Self-financing a house is cash flow, but it's temporary cash flow.
- So, how do you generate forever cash?
- In order to get out of the rat race, you have to focus on passive income.
- Don't get hung up on the 'fast coin'.
- What's the first step to getting started?
- Jack took a portion of his money and put a bit of it into paying off his debt instead of paying it all off at once.
- What advice would Jack give to his 25-year-old self?
- If you're in your 20's right now, it's time to hustle!! Stop partying.
- Be sure to check out Jack's book, Forever Cash.
- What Jack does differently is how he uses the money he's made.
Mentioned in This Episode:
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