Business
Have you ever wanted to walk away from your job and never look back? At the age of 27, Rachel Richards quit her job and retired. She is now living off of $15,000 a month in passive income. In this episode, Rachel shares what pushed her to get into real-estate investing and how she did so with a small amount of money. Listen in as she explains the importance of diversifying your income so you have a steady stream coming in from multiple sources. If you want to achieve financial independence and income security, this is the episode for you. “I use the words 'retired' and 'financially independent' interchangeably. So it’s not that I am not working, you know. I still have a purpose, I still have things I am passionate about. Right now it’s just about working when, where, and if want.” - Rachel Richards This Week on Young Money: Why it is okay to say “no” sometimes. The importance of reading. How to get into real-estate with a small amount of money. Tips for diversifying your income. Key takeaways: Choose projects that are important to you. Mental health comes first. Invest at a young age. Lower your interest rate. Connect with Rachel Richards: Website Instagram Facebook LinkedIn Resources Mentioned: Passive Income Starter Kit Money Honey by Rachel Richards Passive Income, Aggressive Retirement by Rachel Richards The War of Art by Steven Pressfield The Millionaire Fastlane by MJ DeMarco Rate, Share & Inspire Other Young Millionaires-in-the-Making Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts. Don’t forget to share your favorite episodes on social media! Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.