What is the First Step to Financial Freedom? | 397

What is the First Step to Financial Freedom? | 397

financial freedom

Join Matt Theriault on a shoe shopping expedition this Financial Freedom Friday! As you take a tour through Beverly Hills, learn 3 steps to creating your own definition of financial freedom.

financial freedom

What You Will Learn About the First Step to Financial Freedom:

  • Matt’s interesting pre-Intensive ritual
  • The first step to financial freedom
  • How Matt defines financial freedom
  • 3 steps to determine how you define financial freedom

Whenever you’re ready, here are a few ways we can help:

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Transcript:

Speaker 1: This is Theriault Media.

Matt Theriault: Hey, this is Matt at Epic Real Estate, and welcome to another episode of Financial Freedom Friday.

Speaker 1: It’s time for Financial Freedom Friday, with Matt Theriault.

Matt: So, just got back, just got back from shopping. Went down on Rodeo Drive and Beverly Hills. What I was doing down there was, I’ve got this ritual before each Epic Intensive. I go out and I buy a few new pairs of shoes. I think it was Dion Sanders said, if you look good, you play well. If you play good, you win. So, that’s what I do. I go out and I invest in a new pair of shoes. I don’t drive a fancy car. I don’t live in a nice huge house or anything like that. Those things just don’t do it for me. But, shoes, that does it for me. That’s just kind of what I do. I went down there with Ash, my assistant, and Brian, my video producer. We’re down there talking and we were just kind of thinking what we’re going to film once we came back here for this week’s episode of Financial Freedom Friday.

While we were down there, a question actually came in, and Ash read it to me, and I was like, okay, we can do that. That sounds good. We thought rather than coming back here and filming it with the same old boring background that you see every week, we thought we would just record it down there. I don’t know how good the audio came out, but we went ahead and we answered the question. That question is, what is the first step toward financial freedom? All righty? We answered it live out there in Beverly Hills. Enjoy.

The first step to financial freedom really has to do with how you define freedom, right? So is it being super-duper wealthier or is it having enough income to support the life that you’re living right now? I don’t know. I view financial freedom as you not having to work. That would be the first is to define what it is for you. Second is, to go ahead and come up with that number that’s going to allow you to live it, right? What is that monthly residual income number that’s going to allow you to have that financial freedom? Once you define that number. Third, it’s time to pick the vehicle, right? Anything that would produce the residual income or passive income. That could be a Shopify store. It could be an Amazon business. It could be a laundromat. It could be a car wash, or it could be what we do here. It could be real estate.

The reason we chose real estate, it’s just the statistics show that’s where the average person has the best shot at making it happen. So I’d go with, one, the first step, define what freedom is to you. The second step, pick that number that’s going to allow you to have that freedom. Third, pick the vehicle that’s going to get you there.

All right. That’s it for this week’s episode of Financial Freedom Friday. Kudos to Brian, putting that nice montage together. I will see you, if I don’t see you next week at the Epic Intensive, I will see you next week right here for another episode of Financial Freedom Friday. Yeah, I’m going to be in two places at the same time. Take care.

Matt Theriault

Real estate investor and educator.