Suzi’s Secrets #4: Retiring at 42! It is possible!!

So, how did I retire at 42, when most of society struggles to do so by age 65?? It’s all about leverage. Now most money “gurus” will say that in order to have leverage, you must have assets (real estate, a business, etc). And that IS one way to go. The down side to that is you have no control over your money, it goes up, it goes down and continues to fluctuate with the economy. 

If there are people looking for housing, you may sell a flip house, or get a renter. But then you have to deal with people not paying, leaky toilets or paying management companies. 

If you own a business, that’s great! I owned businesses most of my adult life. The downside to those is you have to find someone that wants your products or service and is willing to pay what you’re looking to charge.

Are both of these scenarios doable? Abo-fricking-lutely!! Society has been employing these ideas for centuries. I wanted more control over my finances. And since reading Rich Dad Poor Dad by Robert Kiyosaki back in 2012, I’ve been trying to figure out how to be my own bank and make my dollars work for me and not the other way around.

Leverage. But how?

So, here are 2 things (very basic things) I did to help me get to financial and Life freedom:

1. Got a TEAM! I didn’t do it “on my own”! I will say, I tried this at first. I was a sole-proprietor of a pretty successful LLC, that pushed this single mom out of poverty and into the middle class. Then I decided I’d be a coach. But I was still trying to “do it on my own.” I still had no idea what to do, really. I had concepts from books and coaches I'd met. Concepts like: aqcuire assets, make your money work for you and do what you love and you'll never work a day in your life. I'll be honest; ALL THESE CONCEPTS WORK! But what's missing is HOW TO EMPLOY them! (Especially as a just over poverty line, single mom). It wasn’t until I built a team (and it wasn't the team that told me to go out and buy a BMW so I can "raise my frequency"...I ended up with a BMW, but that's a different- and amazing story) around me that I started building wealth, and then began to recognize the freedom built. The right team can teach and show you how to take money out of your left pocket and put it back into your right with interest. And how to do this, regardless of the economy. The right team can show you how to create a “pension like” income (ie. Guaranteed Income for Life!) without putting 40+years into a company.
   

2. Got a plan to BE MY OWN BANK! I used a contract with a guarantee to become my own bank. For me, it looks like life insurance. No, I don’t mean selling life insurance, though that is certainly a way to go and something I am licensed to do. (So if you desire help in that area, contact me and I’ll see if I can help you.) I use my policy, like the wealthy do, as leverage. I use it to be my own bank. I use it to get my dollars working for me, instead of the other way around. My team showed me the policies available and how to put this in place. There's so much more to say on the concept of being your own bank, but it's a book. I'd be happy to expand on this, just contact me.

The next thing to build is legacy for my kids, but that’s a different blog.