Perhaps the title is slightly over the top, but I’ll explain my reasoning. I am writing this article for one reason: to quickly quote “the information.”
Over my years of writing, I have begun to write “the information” as a quick reference to passive income, business, and entrepreneurship.
For example, I say things like, “I didn’t have the information when I left home,” or “Once I had the information, my life changed.”
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I will use this article to quickly insert my thought process into any article using the phrase “the information.” But what is the information?
Starting from the beginning. Our path to passive income begins with our parents—specifically their mindsets.
Most of our parents have a poor person mindset. This may be offensive; we can substitute a scarcity mindset instead.
However, a scarcity mindset will keep you poor. Once you acquire this mindset, your job, boss, and career become the only way to earn income.
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You’ll never see a world full of abundance because you’ll be laser-focused on going from E-5 to E-6 or from assistant supervisor to head supervisor.
Unfortunately, our parents gift us this mindset. You’ll never see it because they want to give us the world. They mean well.
School reinforces a scarcity mindset. Because of scarcity, your parents push you into high-level high school courses, college, and influential professions.
They want to ensure you have all the resources and happiness in the world. However, they cannot give you a job, a house, or an investment portfolio.
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All they can give you is a dream of one day being happy. So they place unhealthy pressure upon you to succeed in this world—all by yourself.
Before I had “the information,” I needed my son to get straight A’s. I needed him to go to college because I had nothing to offer him. Heck, I was in debt; how the hell could I help him?
A career of scarcity. Your scarcity mindset comes from your parents, education, and job. By that time, it’s almost too late to change.
I joined the Marine Corps right out of high school at age 18. I climbed the ladder from E-1 to E-9 over 24 years. However, I had a scarcity mindset throughout the process.
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When I was ten years in, I would look at the pay chart at E-9s over 20 years and say, “wow.” One day I wanted to earn as much money as they did.
Then I became an E-9 over twenty years, and the money wasn’t enough. I felt like a failure because I was still in debt.
My marriage was good, and my family had resources, but why was I in debt? Because I didn’t have the information.
The light bulb clicks. My wife wanted to travel to Turkey in 2019. So in January 2019, We had a long talk.
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I told her we needed to try something different if we wanted to spend $8,000 to $10,000 on a world trip.
At this point, we decided to get our first roommate. By the time we left for Turkey in June 2019, we could pay for the trip without accumulating debt (a great accomplishment at the time).
While in Turkey, I became obsessed with the idea of living overseas without working. I knew I had a military pension coming, but I wanted more income.
How on Earth could I live in Turkey while earning income without working? The answer, “the information,” was passive income.
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Nothing in the workforce matters. Nothing you do in the workforce matters. This may be a tough pill to swallow. Trust me; I did the Lord’s work in the Marine Corps.
However, at age 42, I want to be free. All that matters is what I have after leaving the workforce. Here is why our first roommate was so vital to our success.
Let’s say my wife and I earned $10,000/month at the time. At the end of the month, no matter how much we worked, we spent $10,000. Even worse, some of this went to paying off the past in the form of debt.
When we got our first roommate, we worked the same hours but ended the month +$500. This is a massive amount of money, especially when you are in debt.
Our scarcity mindsets keep us at work, in debt, and from trying new things. We see the world only one way, as an employee.
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Your only chance at happiness. The employee and scarcity mindset will not make you happy. You may think you are doing okay, but you’ll always have fear and anxiety.
You’ll worry about losing your job, not getting a promotion, or your boss leaving (and getting a horrible replacement).
You won’t understand your stress until you get from underneath it. Once debt free, you’ll see the world in technicolor, like in the original Wizard of Oz.
Going further, once you start building passive income through roommates, rental properties, dividends, and royalties, you’ll see a world full of abundance.
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Your relationships will improve dramatically because you will have the freedom of time. My wife and I will retire at ages 39 and 42, respectively.
After years of being in debt and living in fear, we can focus on ourselves, our relationships, and our kids.
Conclusion. The best feeling in the world is not worrying about your kids. My kids each already have a house and a brokerage account.
Beyond these things, they have an abundance mindset. If they want to play the piano, I can help them achieve their goals.
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They don’t have to go to Juilliard or play for a famous symphony to make money. They may help people through YouTube, become a piano teacher, start a piano tutoring business, or play at a piano bar.
Either way, they can generate passive income and live the life of their dreams. That’s the power of “the information.”
You can create your own success—without or without having a job, a boss, or a degree. You only need “the information” and to take massive action. Do you have what it takes to create passive income? Good Luck!
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Disclosure: I am not a financial advisor or money manager, and any knowledge is given as guidance and not direct actionable investment advice. I am an Amazon Affiliate. Please research any investment vehicles that are being considered. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article. All Right Reserved Military Family Investing
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