Day 1 of our 12 Days of Holiday Episodes. Did you know that passive income is one of the best ways to build wealth? It sounds pretty good, but passive income also has some flaws. The problem is when most people talk about passive income it isn’t actually passive income, like buying a business where you actually have to work. The true definition of passive income is to have money coming in when you aren’t working, aka when you’re sleeping money is flowing into your bank account. That sounds pretty great to me. But how do you actually build passive income? That’s where our guest, Chris Miles, the Cash Flow Expert and Anti-Financial Advisor, comes in. He has used his passive income skills to become financially independent twice and paid off over $1,000,000 in debt after the last recession without filing for bankruptcy. In this episode, Chris is sharing how to create multiple streams of passive income on virtually any budget, why traditional financial advice sucks, and why true wealth can’t come from a scarcity mindset of saving and only contributing to your retirement accounts contrary to what the Dave Ramsey’s of the world spews to millions of people.
LINKS
Money Ripples
SPONSORS
Thanks to Monarch for sponsoring the show. After trying out Monarch for myself, I understand why it’s the top-rated personal finance app. Listeners of this show will get an extended thirty-day free trial when you go to www.monarchmoney.com/ETM.
Thanks to Uncommon Goods for sponsoring the show. Get 15% off your next gift by going to www.uncommongoods.com/ETM.
Thanks to EarnIn for sponsoring the show. Just download the EarnIn app in Google Play of the Apple App store and use code Talkin Money under Podcast.
Thanks to Noom for sponsoring the show. Start taking control of your weight management and join the millions who have lost weight with Noom. Sign up for your TRIAL today at www.noom.com.
Thanks to ButcherBox for sponsoring the show. Sign up today at www.butcherbox.com/etm and use code ETM to get $20 off your first order.
How To Connect with Shannah:
Learn more about your ad choices. Visit megaphone.fm/adchoices
3 Money Moves to Make By 45 with Shari Rush
I Hide Money From My Partner - Money Confession
Introducing: Health Hacks with Mark Hyman, M.D.
Ready to Be Debt Free: Learn How to Create Plan to Get Out of Debt
You're Paying Too Much For Car Insurance: Here's How to Save Money
7 Tips to Stop Overspending & Start Spending with Intention
Start Rewriting Your Money Story Today To Build Wealth with Kara Stevens
My Partner is 10 Years Older: How Do We Manage Money Together
Demystifying Crypto: Can It Help You Build Wealth with Tonya Evans
The Secret to Saving Money This Year
TikTok Financial Advice: Is It Harmful or Helpful
Invest Like a Girl and Reach Financial Independence
Why You Aren't Reaching Your Financial Goals (and What to Do About It)
Money Confessions: I Drained My 401K to Pay for a Trip (Is That Bad)
Healing Financial Wounds: Addressing Financial Trauma in BIPOC Communities
Do You Need a Will (or a Trust) and Why Should You Care
13 Money Secrets To Help You Reach Your Goals
The Ultimate Divorce Checklist (That You'll Hopefully Never Need)
Debt to Dollars: Secure Act 2.0's Student Loan Game-Changer
The Best Tips to Save Money Every Month: Ask Shannah
Create your
podcast in
minutes
It is Free
The emPOWERed Half Hour
So Money with Farnoosh Torabi
The Payoff
The Mental Wealth Show with Rich Jones
Jill on Money with Jill Schlesinger
WSJ Your Money Briefing