How To Become Financially Free in 10 Years or Less

 

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We’re back to talk about all things money, wealth, and investing in another finance focused episode - this time with Ryan Lee, co-founder of Cashflow Tactics. Now Ryan happens to be one of my trusted financial advisors as well as one of my favorite humans, and he and the team at Cashflow Tactics are on a mission to help everyone - whether you’re working a corporate job or working for yourself - become financially free in 10 years or less. 

Today, we’re taking a deep dive into why 97% of the financial advice you’ve been told your whole life is outdated, misleading, or downright dangerous, and how you can use your money to live a life of impact NOW instead of running the rat race of trading time for money into your 60s or 70s.

We go over:
-Why putting money in your IRAs or buying mutual funds isn’t really investing
-How to determine how much money you actually need to retire
-The three best assets you can ever invest in (hint: it’s not stocks, gold, or cryptocurrency)
-How to use a tool we call the “vault” to secure your money in for better rates than any bank will give you while also leveraging your cash to go make more cash for you.

Trust me, your mind is about to get blown. My Dave Ramsey people especially, buckle up. 

As always, a reminder to do your own research on the financial strategies you choose to implement. 

Connect With Ryan

  1. On Instagram @theryanlee

Favorite Takeaways From This Episode

  • No one cares about your financial success as much as you.
  • You have to take control of your finances because money is nothing more than a tool that you can LEARN how to use.
  • If you do what isn’t working and expect extraordinary results, it is the definition of average.
  • Do you actually know how much money you’ll need/if you’re on target for financial freedom?
  • The rule of 25: you take however much money you want for retirement, multiply it by 25. That’s roughly the number you’ll actually need for retirement.
  • Following traditional financial advice is not going to get you what you want. You have to raise your own financial IQ.
  • When you put your money somewhere and hope for a good result, that’s not investing. That’s speculating.
  • You have to know: What do you want? What is a life that is fulfilling to you?
  • Investing in your mindset, skillset, and network. Those things will do more than any financial investment.  
  • Your best investment is you.
  • Your mind can bring you infinite returns.
  • Invest in your ability to create and exchange value. 
  • Making money is one skillset, KEEPING money is an entirely different skillset.
  • It doesn’t matter how much money you have saved up until you learn how to convert that money into cashflow.
  • A “vault” is really an investment-grade life insurance policy.
  • Leverage is the most powerful tool in finance.
  • ROI vs. ROA - ROA: use money as a tool to build and live a life you want to live NOW.
  • If you look at life as an opportunity, it will begin to work for you.
  • How do you know if you’re winning in your financial plan? When you own your time.
  • It’s about building a system that makes money for you.
  • If you want more money, go create more value. 

What Did You Think?

What was the biggest "a ha" moment for you? Share your biggest takeaway below!

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Are we not email friends yet? Make sure you download my income report at ellenyin.com for my "6 figures in 6 months" case study for a transparent look at how I made $102,721.44 in a 6 month time span in 2020!

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