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January 30th, 2015
Episode 299 of 769 episodes
Generating passive income doesn't have to be hard. "If you want to be rich the secret is to spend your life acquiring cash-producing assets."-Robert Kiyosaki The Cheat Sheet: What is Ryan's wealth triad and why is it important? What was Ryan's biggest mistake in his search for passive income? The true definition of wealth. How did he triple his income quickly? The true alpha man, according to Ryan. And so much more... When I say the words passive income what do you think? Do you have any idea how to generate it, how to create it? Or does it seem like a fairytale concept only found at the end of a complicated, confusing process? Joining us to demystify passive income and give us simple, actionable steps we can take to start creating it today is Ryan Moran. Ryan has learned the hard way and he shares his wisdom with his company Freedom Fast Lane. Today we discuss those topics and so much more on this episode of The Art of Charm. Click Here to Support The Show and get 10% off Onnit! More About This Show: Ryan Moran created several successful businesses for himself in his early 20s, and he decided to make his efforts pay off in multiple ways by reinvesting his profits. The first thing he did was hand over a six-figure check to a brick and mortar business: a chain restaurant in his hometown of Cleveland, Ohio. He ran the numbers, everything looked good so he greenlighted the investment. The only problem? He knew nothing about restaurants. Fast forward to today, three years later, and all he has to show for it is a nice write-off on his taxes every year. He gave me $225,000 and hasn't seen a penny of that come back to him. So you don't have to go through the same type of scenario, Ryan has three rules for investing. They are: Don't lose your principle! You should have access to your money after you invest it. The investment must go up in value over the long-term, things like real estate and stocks go up. And when Ryan says long-term he means 5 years or more Your investment must pay you, it must produce cashflow unless it's properly designated for speculation. Another tool Ryan has developed is what he calls a wealth triad. These are three places where money flows andwhen these three are put together, they create wealth for everyone. The first piece of the puzzle is to separate your dollars from your hours. That means find a way to generate money that isn't attached to how many hours you work for it. If you aren't an entrepreneur or you like your day job you can sell things on eBay, flip houses or develop some side business online. Your wealth is not created here, but it is a place for money to flow into. A place where you do start to develop wealth is the second piece of the puzzle. Ryan says you must invest in something that is high yield with a low risk. He suggests opportunities like single family homes, commercial real estate or real estate investment trusts (REITs). And this has to be an investmentthat pays you 1% a month over the course of a year, so 12% at the end of the year unless it is compounded. He recommends ACNC, TWO and NLY as good REITs to look into if you want to go that route. And thirdly is the optional part of the triad, take your income generated from point number 2 and invest them in long-term increasing dividend-paying stocks. Ryan says 80% of the stock market's profits come from this type of company, you'd be smart to find and invest with them. An easy way to find those companies is to simply Google "dividends that have increased in the last 10 years". He also recommends UHT and Target, those are two places he puts his money. We cover SO much more on this show, from how to be paid more (without working more hours), ways for people with regular jobs to generate income and what a true alpha male is. Listen in to hear it all! This was such an informative and insightful interview with Ryan. Extra special thanks to him for all his golden nuggets of wisdom and tips on how to create wealth.Thanks to Ryan for joining us and as always, thank you for being here. We'll see you next time. THANKS RYAN MORAN! If you enjoyed this session of The Art of Charm Podcast, let Ryan know by clicking on the link below and sending him a quick shout out on Twitter: Click here to thank Ryanon Twitter! Resources from this episode: Ryan Moran's web siteRyan Moranon Twitter You'll also like: -The Art of Charm Toolbox-Best of The Art of Charm Podcast Wanna leave a comment? Too bad!Email meinstead (we read everything)!