CDL 47: The 4 Phases Of Financial Freedom….


So the big question is this, what would you do if money didn’t matter? So you had millions in your bank account, what would you focus on? Would you spend more time with your family, with your wife, with your kids? Take family vacations. Would you pursue your gifts and talents in dreams?

Serve your local community, teach others, serve your church. You see if what you would do if money didn’t matter, it was pursue your gifts and talents and dreams to serve others, and that is probably what you should be doing. The problem is most people are in the rat race, living five inches in front of their face with no time to pursue what they were born to do. That is the problem, and the solution is to develop enough passive income to replace your working income so you can quit your job and be free to live your life the way you were created to. That is the solution and this podcast will show you how.

What’s up everybody? Welcome to another episode of Cash Flow Dad Life. I’m your host Ryan Enk, and today we’re going to be talking about the four phases to financial freedom, true financial freedom. I’m sorry, the four phases to true financial freedom. And the reason that I’m going over these phases is because it’s really important for you to be able to identify where you are at right now in your life and set some goals and figure out what you need to do in order to get to that fourth phase. So here are the phases in a nutshell. The first is survival, the second is comfortable, the third is financial freedom, and the fourth is true financial freedom.

So let’s go over them one by one. So obviously the first phase to get to financial freedom is survival mode. Now, survival mode. I, I wrote an entire book about survival mode, and if you haven’t gotten your book yet, you can go to cash flow [inaudible] dot com slash the number seven.

And that’s the, um, it’s the seven day real estate survival blueprint, how to create 10,000 out of nothing in less than a month. Okay? Survival mode is really awesome, uh, in that it forces you to develop skills that you wouldn’t normally develop.

So back when I was, um, you know, survival mode is kinda like you aren’t making enough to make ends meet every single month or you are just over being broke, you know, the job acronym just over broke. So, you know, when I was back and um, you know, Hurricane Katrina hit that put me in survival mode where, you know, I’ve got a wife who is pregnant for eight months and I’ve got to figure out somehow how I’m going to provide for my family. I got to figure out where we’re going to live. I’m going to figure, I’ve got to figure out how I’m gonna pay for it, I got to find a job, you know, that’s, that’s survival mode.

And that forced me to develop skills and to step outside my comfort zone in order to make things happen in order to make ends meet. Okay. So survival mode is a really purposeful. It’s a really great place to be, um, because it, it puts you in that, uh, that, that category of development. Now, the second phase towards financial freedom is probably the most dangerous of all phases. This is the comfortable phase.

Now this is where you, you, it’s either you’ve got a good job and you’re making a pretty good money and that’s enough to survive a or you’ve started making passive income investments, so you’ve got some passive income rolling in and so that just, you know, that extra 200 to $500 a month really helps out in just your monthly activities, but it’s not complete freedom and comfort mode is the worst place to be because it doesn’t force you to develop outside of it.

You know, the, the lack of freedom in the comfort zone is kind of a nuisance. Like it’s kind of a nuisance to go in and have a boss. It’s kind of a nuisance to have other people to tell you what to do and not have complete control of your time. You might be making ends meet every single month, but you’re not really using your gifts and talents to the greatest of abilities because you’re basically, you know, making everybody else money. Um, so a comfort mode is, is a hard place to be, and, and it’s, most people stay in comfort mode.

money resale pricesOkay. It’s not until something kicks them into survival mode that they’re able to get out of that phase, but if you are and the comfort phase you really need to be asking yourselves and, and dig deep into some important questions like, what are your gifts and your talents?

What would you be doing if money wasn’t an issue? Um, I actually had a student the other day that gave me this quote. It’s an awesome quote. It’s from a John W dot Gardner, Uhh, a, he’s got a book on leadership and it says great gifts unused.

Even unsuspected are hardly a rarity, no doubt. There have always been a great many men and women have extraordinary talent who have died with all their music in them. And that’s just a whole, that’s a horrible thought, but it’s, the reality is that so many people are just in this comfort zone, but it kind of lows you to sleep to where you’re not using your gifts and your talents to the best of your abilities. Okay. So you die with regrets and comfort zone. All right? So the best thing to do if you’re in comfort zone is to do something that pushes you outside of that and start asking yourself questions about your purpose.

Why are you here? Who are you supposed to serve and, and how are you supposed to serve them? All right? And then the next phase is the phase of financial freedom, which you know, it’s actually just the technical definition. Um, it’s basically where your passive income replaces all your monthly expenses.

So as soon as you have the money that you make while you sleep, going into bank account, that replaces all your monthly expenses, that’s where you’re considered financially free, right? Because you can choose to work if you want, or you could choose to not work if you don’t want, because all your monthly expenses are covered.

Your, you know, the milk and eggs, the electric, the, you know, the, the housing expenses, taxes, insurance, all the kids’ schooling. Like everything is covered every single month by your passive income. So you don’t have to work. Now, when I was in this phase, it was actually very unfulfilling and boring.

I remember not having to work fired myself as my own boss or the indoor arena, and I had enough passive income coming in through all my different real estate investments. I remember sitting on my couch on like a Tuesday or Wednesday morning and uh, like mid day and thinking I am bored and nothing is really, you know, nothing is really moving forward.

And that’s because my focus was on my own freedom and my own ability to do what I wanted and not focused on others. So that brings us to the fourth phase of true financial freedom. The fourth phase of true financial freedom is where you have that financial freedom. You’ve got all your expenses covered, but then you turn your focus instead of being on your own, uh, on yourself, like going and, you know, just hanging out on a beach all day. And that’s actually, you know, I talked a lot of people.

I’m like, well, why do you want to be, you know, everybody wants to make you know, 20, $30,000 a month in passive income. And I say, well, what would you do? What would you do with that time? You know, when people answer in different ways, some people are like really purpose driven.

They would help, they would give to this charity or they would give to that charity or they would spend more time with their family. Um, but a lot of people are like, I, you know, I spent a lot of time on the beach, uh, you know, I’d go to, you know, different vacations and it’s all like the self center stuff and there’s, there’s nothing wrong with that, right? There’s nothing wrong with wanting to do some things that are fun that you have free time and money in order to do, but true financial freedom where you put your head down on the pillow and you feel good every single day is where you give back where you have answered that question.

Who Do you want to serve? Why do you want to serve them? And how do you want to serve them? Right? Like I knew when I was in survival mode when I was on the causeway going across and I just got chewed out by this Catholic monk about this copier that I had sold them and I wasn’t really making anybody happy when I walked in the door.

I knew that true financial freedom for me would be to open up this indoor arena and my community where I could, you know, people could go and they can play sports and they could have a great time. And like, people look forward to that every single day while they’re sitting in their cubicles every single day. They’re thinking about their game that week. You know, that would be true financial freedom for me to be able to serve people, to provide something that is awesome.

That’s why I mentor with real estate. People ask me all the time, if this is, you know, uh, if you’ve got all these great strategies, why are you sharing them with people? Because it makes me feel good to make, to help other people achieve financial freedom, to help other people explore their gifts. And their talents, I can’t think of a better impact that you can make in the world than helping other people discover their purpose and then giving them the financial means in order to execute that. So if you have answered that question, who would you serve?

money bank cash flow If money was an issue, why would you serve them if money wasn’t an issue? And how would you serve them if money wasn’t an issue? Even if you’re in survival mode, you need to be working towards that goal. Whether you are in survival phase, the comfortable phase, or the financial freedom phase.

You need to be working towards that phase of true financial freedom where you are able to serve other people as if money wasn’t an issue where you are able to help other people as if money wasn’t an issue. Don’t die with the music in your hearts. Guys, use all your gifts and your talents and if you’ve got gifts and talents that you are not exploring right now that you are not utilizing because you are in the rat race because you are, you know, working for someone else. You don’t have that financial freedom. You need to be making the moves and you need to be making them now because life is short and you gotta you gotTa crap or get off the pot, you know, you’ve gotta you’ve gotta be making some moves every single day towards true financial freedom or, or even start with serving other people.

Start with giving people, giving to people. That’s something that, you know, we had a Paul with wellings capital come on and uh, and he talked about how he was about to go bankrupt.

He was about to lose all his money and he said, all right, well if I go bankrupt, I’m going bankrupt anyway, so I’m going to get out of this survival mode by giving to other people that is a secret guys. And once he did that, the stars aligned and he was able to find a creative financial situation for the biggest problem that he had. So whether you’re in survival mode, comfortable mode, financial freedom mode, whatever that is, put your eyes on the prize, put your eyes on serving others and helping others and that will get you there. Okay?

That will get you from a to b as fast as possible. That will get you from survival mode to true financial freedom as fast as possible. If you’ve got a service that you’re oriented to, if you’ve got something in your heart that you want to pursue or people that you want to help, that’ll get you there the quickest. Alright guys. Thanks.

Thanks for listening. Please remember to rate and subscribe. You’re going to want to listen to every episode. As soon as it comes out. Episode has an idea or a strategy that can literally change your life. Listen, don’t miss out on the free investor pools that I have on my website has flowed that life.com. So go to cashflowdadlife.com. Get your free swag handlers and hit me up if you want to talk about how we can get you out of the rat race as soon as possible. Until next time, my name is Ryan Enk and this was Cash Flow Dad Life.

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