Retired at 27 with $15k/mo in Passive Income with Rachel Richards Micro Empires

Millennials, known as the stereotyped generation, are actually the ones suffering the backlash of today’s economic crises. Get out of this trap with today’s episode with Rachel Richards. Rachel is a full-time real estate investor who "retired"  27. As a millennial, she will share with us the pressures of her childhood and how she overcame society’s imposition towards her and her generation. Let’s jump right in and learn how to become financially independent at such a young age—without a trust fund!
 
[00:01 - 9:27] Opening Segment
I introduce today’s guest, Rachel Richards Passive rental income Best selling book ‘Money Honey’ Rachel’s money culture growing up Being poor and surrounded by Wealth Sparked by the feeling of not fitting in Fear as a motivator and a mindset change Fear of not having enough money Abusive boss as a turning point to take action Women should not be abused anywhere in any form! [9:28 - 22:37] Getting Started as a Millennial Female or Older
Two levels to establish before venturing out Tracking your expenses Creating a budget plan Having financial education crisis while being expected to know how to survive Being a full-time investor Being retired and financially independent as an interchangeable term Rachel talks about her other passive incomes Lessons learned from COVID-19 Income diversification to safeguard your finances Rachel talks about her other income streams that contribute to Diversification Shoutout to my Podcast Producers: Streamlined Podcasts Use promo code: MICROEMPIRES and get a discount [22:38 - 39:22] Keeping it Cool During the Pandemic and the Foreseeable Future
Rachel talks about the effects of the pandemic on her investments Having multiple properties with multiple tenants “Live below your means” attitude Real estate as a means to an end Rachel talks about how the economy is dying and how passive income could serve as an alternative Getting started in real estate investing House hacking Wholesaling Getting comfortable with being uncomfortable: Sacrificing time, money, or comfort [39:23 - 49:25] Social Media and Millennials
Rachel shares her insights on social media and its effects Glamourous life’s pressure People’s prejudice especially on women when it comes to finances Hard work and determination  Having wealth as an opportunity to create impact Spreading knowledge and helping others [49:26 - 51:07] Closing Segment
How to connect with Rachel See links below Download a free passive income starter kit


Tweetable Quotes:
“We are truly in a financial education crisis. At no point in our lives are we taught how to manage our money, and then we are left as young adults to figure it out all on our own.” - Rachel Richards
“Having a salary in a full-time position does not equate to income and job security.” - Rachel Richards
“When you become wealthy, you are giving yourself the opportunity to make a difference in the world.” - Rachel Richards



Resources Mentioned:
Money Honey Rachel Mint Fundrise


You can connect with Rachel through Instagram and you can find her books Money Honey and Passive Income, Aggressive Retirement on Amazon. You can also get a free passive income starter kit by visiting www.moneyhoneyrachel.com/bonus.
 
You can connect with me on LinkedIn, Twitter, Instagram, and Facebook. I’m excited to hear more about you. I’m excited to know more about you. Also, feel free to shoot me an email at jennifer@micro-empires.com. You can call or text 213-973-7206



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