#72: Money Honey: Passive Income

Path to Progress with Paul Heintzman and John Ackerman

Rachel Richards, author of the best selling book Money Honey: A Simple 7-Step Guide For Getting Your Financial $hit Together, shares how anybody can earn enough passive income to retire in their twenties. Some questions answered in this episode:

• What has the last year looked like for you, and what has happened to allow you to quit your job?
• How long did it take for you to be able to retire from when you first got serious about passive income?
• What made you want to get into rental real estate and what was your first step?
• How do you find a good rental property?
• How has having your real estate license benefited you in purchasing a rental property?
• What is passive income and what kinds of forms can it take?
• When writing your book, how did you find people to help you with publishing?
• What have you learned from publishing your first book, is there anything you would've done differently?
• How far are you in writing your second book?
• Can you break down the category of ad/e-commerce passive income?
• Who are some people involved in your second book?
• What is dropshipping?
• How has interviewing others and having them contribute to your second book changed it from the first?
• How do you find a good property manager?
• What are the basics of portfolio income?
• If you were given a million dollars, which passive income stream would you invest in first?
• What are the next few steps for finishing your book?
• How can people connect with you online?
• What are the benefits of a credit freeze?

Last call:

• What advice would your 60-year-old self give you today?
  • I'm still trying to figure that out, but protect your identity with credit freezes and invest at a younger age.
• What advice would you give to somebody who wants to start earning passive income?
  • Consider time versus money, what is going to be easier to spend.
• What is a book/documentary/podcast you would recommend?
  • Millionaire Fastlane by M.J. DeMarco
• What is the best thing you spent money on in the last six months?
  • Travel
• What's your favorite thing to drink?
  • Double Oaked Woodford Reserve

Enjoyed this episode? Check out our previous episode with Money Honey. Have any topics you want to be covered or amazing people you’d like us to interview? Let us know! You can email us at [email protected]. You can also find us on Facebook, Instagram, Twitter, and Linkedin. Please be sure to subscribe to our weekly mailing list at drunkenmoney.com/subscribe.