17: Breaking The Money Rat Race with Maurice Philogene
Jul 28, 2023
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Maurice Philogene, expert in breaking the money rat race, shares his Freedom Plan to escape the never-ending cycle of financial constraints. Topics include the power of passive income, creating a freedom plan, steps to achieve financial freedom, and breaking free from the rat race to live a good life with freedom of time.
Paying yourself first and buying assets that generate income is crucial for breaking the money rat race and achieving financial freedom.
It is important to prioritize and build the habit of storing money in order to invest in assets that provide passive income and equity growth.
Deep dives
Breaking the Money Rat Race
Breaking the money rat race is important for achieving financial freedom. The speaker shares his personal journey of realizing the importance of controlling his time and creating passive income. He emphasizes the need to understand the purpose of money - to create perpetual income streams, such as real estate or dividend stocks. The podcast introduces a 10-step plan for breaking the money rat race, which includes paying yourself first, storing money for investing, and buying assets that pay you. The speaker highlights the importance of building the habit of storing money and consistently repeating the process to achieve financial freedom.
The Power of Storing Money
The podcast dives deeper into the significance of storing money versus saving money. It emphasizes the mindset shift from saving money to storing money, with the intention of using it to buy assets that will generate income. Storing money intentionally allows for easy investing and growing assets, while making day-to-day life harder in order to prioritize future financial freedom. The speaker encourages listeners to prioritize paying their future self first and shares personal anecdotes of how consciously storing money allowed him to steadily build a portfolio of assets over time.
Building Financial Freedom Through Assets
The podcast discusses the importance of building up enough stored money to buy assets that pay you. It emphasizes the habit of storing money and the mindset of viewing assets as sources of income and equity growth. The speaker shares his personal experience with real estate investments and highlights the benefits of cash flow generated from assets. The podcast emphasizes the need to consistently store money, reinvest income from assets, and continually educate oneself about investing and minimizing tax liabilities. Overall, building assets that generate passive income is presented as a key step towards achieving financial freedom.
In today’s “single-sode”, Maurice Philogene pops in to discuss how to break the money rat race. With the American lifestyle being a never-ending cycle of goals like finding a well-paying career, getting a mortgage, buying items, beers of Friday, and kids’ activities all weekend, it’s no wonder we can feel trapped. In 2002, Maurice created his own Freedom Plan that utilizes paying yourself first to buy assets that pay you to keep educating yourself, and now, wants to share this plan with you!
Ready to make the extraordinary, ordinary? Grab a cup of coffee, get comfy, and listen to Try Life On!
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