Simple Steps To Financial Freedom

Simple Steps To Financial Freedom


In today’s video on simple steps to
financial freedom, I’m going to be sharing with you 2 of the most basic
and most of the important maneuvers that will help you first get to $1,000 and
let the residual income and then $5,000 a month of residual income and then walk
from that job and ultimately wind up financially free. So, where are you currently at in your
journey to financial freedom? If you’re not very far down the road and you’re
still living with a high degree of financial stress, the first of the 2
things that you need to do is you need to create an emergency fund. A whole lot of
fun and it doesn’t even look all that sexy. But it’s going to do a lot more for
you than you actually think. Right now, the concept of an emergency fund is, “Hey,
if I lose my job then how long can I go before everything collapses financially
and I stopped paying my bills and I start losing stuff. You know, in the
beginning, you want to figure out, “Hey, how do I find a way to get enough money set
aside where I’ve got a 3 month emergency fund?” That’s a good first goal.
And now, if you have three months, you’re going to want to turn that into 6 months.
And ultimately, you’re going to want to turn that into an entire year. But remember, we
can’t save ourselves to financial freedom. We need money for investing
which is going to bring me to number two. Couple more things on the emergency fund.
You know, Dave Ramsey and I need to screw on loads of stuff. Because for Dave, it’s
all about get out of debt, get out of debt, get out of debt. And then you can go
somewhere. And for me, my second rule actually massively contradicts Dave. But
you know Dave is a good guy. And ultimately, he is trying to help people figure out
how to live financially smart lives and reality is that you don’t have a game
plan, Dave’s plan is the best plan. Because it basically says, “I don’t know
what I’m doing. Good. Just get out of debt.” But today, we’re talking about financial
freedom. We’re talking about something bigger than just being debt-free. Dave
this year the story about emergency funds. I think this woman put $1,000
behind glass in her closet and I actually remember hearing Dave said this
whereas like, “Break if in case of an emergency.” And then there would actually
be money. So, she was making it hard to actually get to her money so she
wouldn’t actually accidentally spend it. But the biggest reason why I’m putting
this up to today’s video before I go to the more exciting. One that is about the
making money and wealth creation is that this
a huge impact on your mindset. We have got to help you calm down a little bit.
The more you stress about money, the more you push money away. And the less money
can actually be in your world doing good for you. So, in an effort to help
cultivate some calm in your life and to start feeling like, “Hey, we’re going to be
okay.” I want you to attach that to this idea. I’m starting to build my rainy day
fund and this is money again that I don’t touch. As long as you do that,
you’re going to be good. By the way. Yes, I’m going to give you a little bonus on my
favorite place to store money which is do this probably one of the coolest
savings hacks on the planet. And I’ll give it to you at the end of this video
snores. Okay, on to number 2. This one day, is not going to be a huge fan of.
Most people I meet, they’ve never heard this rule. My rule is leverage good
debt to eliminate bad debt. And more than just bad debt, we’re going to use it plus
build wealth. Okay. So, if you were to say, “Okay, Kris, you are in a race to create
wealth. Dave Ramsey, you’re in a race to create wealth.”
Dave would say, “Well ,we’re going to get out of debt and then we’re going to build
wealth. And I’m going to say start building wealth now and let your wealth eliminate
your debt.” Because reality is is that when you work a job, if you’re a great
saver, like check out the average person like the average amount of student loan
debt that someone has or the average amount of credit card debt. Or I want to
get my half of my car paid off. Or I want to pay off my house.” That is a
multi-decade long journey just to get debt-free. And when you’re debt-free, you
can’t retire. You still need income. Which is why for me what I’m really looking at
doing is building a residual income. And I want to help you know how to get to
that first thousand dollars a residual and then five thousand dollars a
residual and then walk from that job. And here’s what it looks like. You’ve got to
take what money you got and instead of throwing in a debt, you
want some to go on emergency fund and you want to throw the rest. If you got
bad debt, then instead of using your money to pay it off, use your money and
put it towards a good debt. So what that looks like is for example, you know me
I’m really keen on real estate investment. I also do alternative
investments. I’ve got my own financial planning company for heaven’s sakes. But
real estate is my tried and proven way of consistently producing twenty to
thirty percent annual returns. By the way, if you don’t know how to do that, you can
get this book for free ,it’s in the link below.
Straight path to real estate wealth and has created so many millionaires. It
documents a very simple four-step system of what you do in your backyard to
create loads of wealth or you can estimate like my team Stephan and
actually they do it for you. But here’s the very simple idea here. I’m going to buy
a house and it’s going to appreciate in value. It’s going to give me a cash flow.
It’s going to give me tax benefits. And if you do the right way following my system,
there’s no disincentive. So, you only win. You only gain while providing a really
valuable service to someone in the community. This is a great example of a
good debt. You understand that good debt and bad debt are two opposites, right?
Good debt is a house that makes you money. Bad debt is a credit card that
costs you money. So, what we need you have to do is differentiate in your life
between the two of them. And you want to leverage good debt to outweigh that debt.
For example if this house ends up making me let’s say $70,000.
Just that one house. Now, I’m going to put a really interesting choice in front of
you. You could use that 70 grand and buy 2 more houses or you could eliminate
all your student loan and credit card debt. What would you do? Would you pay off
your debt or would you double down and buy 2 more houses? Let’s assume that
those two houses produced 150 thousand dollars gains.
Well now, you can eliminate all your debt and still have money left over to invest.
And then you like, “But what I do that” Or what I then… You know, turn into 300,000 and turn it into 600,000 and turn into 1.2
million. “At what point Kris do you retire your debt?” You’re going to want to
listen to this. You retire your debt when you have enough residual income to live
on after you’ve eliminated it. If you have to because remember residual income
is way more important than just being out of debt. If you do that my friend, you
are going to be crushing it out there. That’s why these 2 rules means so much
to me. By the way, in not in the direct link
below. But if you look like below below below and all my links. You’re going to find
something in there about leveraging financial planning. Leveraging life
insurance as like a bank. I stockpile my money every month in a place that hurts
me 5%, tax free and is untouchable. My normal bank can’t do that. But I do
that with life insurance so if you scroll below the video you’re actually
going to see a link for that check that out. For those of you that are saying, “Okay,
Kris. I’ll get my emergency fund going. I’ll start building this up. But I need
to figure out how to buy real estate. I don’t got money.” Then you for sure need
more than just this book. You need to own a copy of this. You need to read it. It is
a very quick read but thoroughly and very well written. More important is this
book also comes with a no BS consultation for my team to shoot
straight and say, “Alright. How would I buy real estate if I were in your shoes?”
And if you’ve got a hundred grand in an IRA, they’ll show you how to put that in
real estate, tax free and grow and all that cool stuff.” If you’re saying, “I’m
actually deeply in debt and I’m check to check.”
They’ll put themselves in your shoes and tell you exactly how to get ahead and
they got a plan for that because that’s exactly how I got to where I am because
I started deeply in debt. So my friends, for simple steps today on building your
foundation becoming financially free. Get that emergency fund going and then
leverage yourself into positive assets that eliminate your bad assets. You can
do that through real estate investing which is in the link below to get that
book. And I’ve also told you about the other link where you can have my team to
set you up your own bank with incredible benefits. Your local bank will never ever
offer to you. So, that you can get ahead on a next
vases. Thanks so much. Make sure that you are a subscriber and I’ll see on tomorrow’s
video.

13 thoughts on “Simple Steps To Financial Freedom

  1. I love you Man ❤️

  2. Great videos

  3. Can you Lease Option strategy work on Fishkill, New York market? @KrisKrohn

  4. Kris im self employed own a home how can i buy investment property i took too many deductions any advice

  5. Hi man i just wanted to ask if ur method of doing real estate is possible in the UK?

  6. Idk if I’m going about my situation the best way. I’m 23 with my own house and a mortgage, what path do I take from there 🤔

  7. Hi Kris, I've ordered the book around a month ago to the UK. Is this normal delivery time

  8. Do you get regular mortgage or specific for investment property? Let me know bro thanks

  9. Great tips, thank you!!

  10. Hey kris I'm 15 I saw Jack's video I'm like hey you know I want to learn this stuff but its kinda hard for me to understand

  11. How can I download your new book for today’s economy? Or is it only by mail?

  12. So Khris whats your networth??

  13. nice explanation

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