Nov 11, 2021
What kind of freedom are you looking for in life? Is it the freedom of time, money, or mind?
There is a way you can achieve freedom, no matter what kind it is you’re looking for. In this episode, we are joined by SBD Housing Solutions’ Investing Liaison, Mike Sullivant, to talk about the experience in the recent Freedom Founders event we attended and the book, Own Your Freedom, by Dr. David Phelps.
Dr. David Phelps is the founder of Freedom Founders. He has been a dentist for a number of years until his daughter fell sick. He had been investing in real estate at the time, so he had a cushion that allowed him to spend time with his daughter, who has since recovered from her illness. Listen to this episode to learn more about the book, Own Your Freedom.
Key Talking Points of the Episode
[01:12] What is the Freedom Founders community?
[01:34] Who is Dr. David Phelps?
[02:36] First take on owning your freedom
[03:10] Why do you need to own your freedom?
[03:40] Owning your freedom number
[05:06] The point of association
[06:25] The five freedoms
[07:12] Wealth is what you own, not what you do
[08:45] Real estate isn’t going to double your income overnight
[09:47] Principles before strategies, strategies before tactics
[10:33] What’s the difference between principles, strategies, and tactics?
[11:14] Transferable skill sets
[12:20] What are your transferable skills?
[13:50] Challenging your thinking
[14:54] Mike’s thoughts on Freedom Founders and Own Your Freedom
“The freedom number is at what point does my passive income extend beyond my monthly expenses. Finding this number of creating true passive income - income that is generated while I’m doing something else is the equilibrium.”
“Too many people think that the old style accumulation method of wealth is simply to invest in the stock market, get as much as you can to accumulate wealth, and then hope you have enough when you start depleting it and spending it when you get into retirement.”
“Having a central purpose and a common theme, it begins there.”
“You don’t get rich with what you earn, you get rich with what you own.”
“Real estate is not sexy, it’s not the one that’s going to double your income overnight. It’s something that takes discipline and time.”
“You have to know who you are. You have to have core values before you go anywhere else.”
“Tactics come and go, but your principles remain the same.”
“Critical thinking usually leads to education, more discovery, and more knowledge. That knowledge empowers you to make decisions that can turn out into financial freedom.”
“We all know that there’s no one-size-fits-all investment strategy, but we also know that diversification is a wise thing to do.”
Website: Freedom Founders
Book: Own Your Freedom: Sustainable Wealth for a Volatile World