Mary Pat and Brian Kling are shifting from a situation where they are both actively generating income in an "active" way to more of a passive income strategy.
Mary Pat is a realtor with Keller Williams and a professional coach, and Brian is the owner of a water treatment business who has been an entrepreneur his whole career. Brian is currently in the middle of a buyout, which he hopes to be completed by the end of 2022. His exit strategy to get out by the end of 2022 has been in play so it has been a five-year plan.
Accountable Equity has opened their eyes to the opportunities to do things other than the traditional means available such as investing in stocks. Eight years after taking the financial mastery course, they have been walking down this to growth and success.
Here’s what we talked about:
How to shift gears from active income to passive income
Their real estate investing background
Creating an income tracker spreadsheet
The value of sharing the models of life success with young people
Why they feel confident in investing with Renault
The power of syndication
How to Shift From Active Income to Passive Income
It’s important that we’re able to direct our lives versus just letting things direct us. And it takes awareness to be able to do that. Unfortunately, sometimes in life, we just get so busy that we don't even realize there's another way. Therefore, you have to find avenues and seek opportunities, primarily through research and educating yourself.
Even, sometimes, just the word investing can be very intimidating. And yet, being able to create income for your future that you're not working consistently day in and day out for, and it's passive, or horizontal, is a gift for every single person that can give themselves and their families.
Creating an Income Tracker to Track Your Path
Part of financial mastery is also creating an income tracker. If you want to have progress in life, you really need to know where you are. That way, you can track how you will progress to where you want to be. And tracking is vital to our lives and wealth creation.
Being a Mentor to Others
You're going to become a better version of yourself as you change the models that you follow for personal wealth. And all of the people that look up to you, and all the people you care about are watching what you do. They're learning from that and picking up what they should probably implement if they want to see success in their life.
Sometimes, it's not even the success that we might see in our own lives, but the success that we can give someone else in the process of our own growth. There are a lot of different opportunities out there if you're just open up to looking at it, even if you don't even have a clue. Just be open enough to check it out.
The Power of Syndication
Being aligned with people to build and journey together is such a wonderful gift. Find some communities and find some people to align yourselves with.
Syndication works so well because multiple people can do things together that they couldn't possibly do on their own. And everybody has different experiences and different networks that they can bring to the table.