hey this is Stefan from
NASSCOM in this quick video I'm going to
talk to you guys about the difference
between being rich and being free now I
want you to imagine right here is rich
and right here is free now most people
what do they do they work hard they get
a job in education or start a business
whatever it is so that they can become
rich right and make money be successful
do they want to be rich is what I
believe is to be free right you want to
make money so that you can be free so
that you can have the freedom to do what
you want when you want with whomever you
want
maybe the freedom to travel to buy nice
things whatever that might be people
make money to have freedom but the truth
is is a lot of people that work hard to
make money be rich do they have the
freedom in a lot of cases they don't
most cases they don't most people
they're working a job they dislike their
work in extremely hard hours you know
they're they're stressing themselves out
and everything to try to make a lot of
money so that maybe one day they can
have the freedom to do what they want or
maybe one day they can retire and you
know maybe if they're lucky retire early
and then have that freedom now what I
want to propose to you is a different
strategy a different way of going about
it
okay and that's strategy and this is the
path that I've taken and a lot of people
that have freedom and wealth have taken
as well it's first an important most
focus on becoming free okay focus
becoming free first because when you
become free it frees up your time energy
resources and everything and yourself to
now focus on being rich and make more
money and when I propose the vehicle to
become free is learning how to get away
from the paradigm of exchanging your
time for money which is what most people
do in a job or a business and instead
focus on building passive income streams
passive income is basically building a
system or a business or something that
can run without you completely automated
that basically makes money for you 24/7
on autopilot while you're sleeping while
you're traveling while you're doing
anything okay
it's basically building that system you
just build it one time and
you don't have to worry about anymore
and it's basically making you money on
autopilot so that it's paying your
expenses and bills now financial freedom
is when your passive income exceeds your
expenses all right so let's say that
your expenses are ten thousand dollars a
month okay that's what your expenses are
so in order for you to be free you need
to build enough passive income to be
making at least ten thousand dollars a
month now if you're making at least
$10,000 a month passive income and one
cent okay ten thousand dollars per month
and one penny are you now free of course
you are because now all your expenses
are covered by your passive income
you're broke but you're still free you
know you've got one penny left over
every single month all right but at
least now you have the freedom the time
the energy the resourcefulness that you
can now focus on building more passive
income streams and becoming rich and
that's what I did for myself in my life
I focus first and foremost on online
marketing how I could make money on the
internet
built passive income streams built some
businesses got it to a point where I was
making a couple thousand dollars a month
I was making about sixty thousand
dollars a year got more than covered my
monthly expenses at the time living in
Vancouver and I was 24 years old I was
financially free I didn't have to worry
about money anymore
I spent a few months doing absolutely
nothing I traveled I had fun and I
basically was in a position where I had
all this free time that I could then
focus on my passion I could focus on my
video blogs I could focus on building
products I could focus on building more
passive income streams I could focus on
doing a fitness competition I could
focus on going out and having fun it
gave me the freedom to build the wealth
the rich and have balance in my life
okay when you go to the strategy of
becoming rich first and having a job or
a business you don't have the freedom or
the time to build the passive income
because you're already too caught up in
the rat race all right you've got to get
out of the rat race and get on the fast
lane and the way that you do that is the
passive income and becoming it free now
there's a lot of ways that you can
become free develop passive income it
could do be through investment income
maybe investing in stocks or mutual
funds or something like that that case
dividends or interest
Gabey through real estate and maybe you
buy a property that can pay you a
residual passive income every month a
positive cash flow or it could be in
business maybe you build a business and
it's run on the autopilot it's automated
can run without you you maybe you hire
employees or you have a system developed
in that and now that just runs autopilot
and you get a positive cash flow from
that or you could also do what I believe
to be the easiest way and what I've done
is through online marketing because
online marketing allows you to build a
website a product a service sell it on
the Internet and have the systems in
place through technology that can
automate and run the entire process and
that's what I've done with my Kindle
publishing business that's what I've
done with my blog that's what I've done
with my product Kindle money mastery my
ebooks that I saw on Kindle and a lot of
different affiliate marketing that I
have pretty much tons of stuff I use
technology to leverage everything I use
Google to search engines Facebook
marketing I use platforms like WordPress
and Hostgator and Aweber and leadpages
and a lot of the resources that I share
on my blog and anything that just all
run things automatically and if I do
need an employee which I never really do
to maintain things but if I do I can
hire someone from the Philippines really
inexpensively that can run a certain
portion of my business so for example
I've got a customer support team that
handles all my emails and everything
that's an expense but that's all
automated it requires none of my time
whatsoever so I have the freedom because
I've built the systems in place okay so
that's all I want to share with you in
this quick video is think more about
becoming free first becoming financially
free building passive income then become
rich okay don't do it the other way
around thanks for watching this video
I'll see you in the next one
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