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
Affordable Estate Planning for LGBTQ+ Individuals & Families with Mitch Mitchell
Is It A Good Time To Buy Real Estate with Selling the Hamptons Star Bianca D'Alessio
Ask Shannah: My Partner Won’t Let Me See What He Spends + I Lent My Friend Money, Now What
Top 5 Retirement Risks to Avoid Right Now with Joe Curry
Quantum Fertility; Affordable Tips To Help You Get Pregnant with Carrie Bennett
Ask Shannah: Credit Card vs. Debit Card - Which Should You Use?
Mastering the Money Game: How to Maximize Every Dollar with Tanja Hester
The Dos and Don'ts of Managing Money as a Couple
Become a Millionaire | Manage Debt | Invest Wisely with Deacon Hayes
The Billion Dollar Question…How Much Money Is Really Enough with Ben Hockema
Tina Wells Spills the Beans on Finding Your Work-Life Harmony
Work Hard, Live Well: Unlocking the Secrets to Work-Life Harmony with Tina Wells
Ask Shannah: I'm An Actress on Strike & I'm Worried About Paying My Bills
5 Money Questions to Ask Yourself Right Now with Dielle Charon
How to Self-Coach Yourself Through Money Drama So You Can Achieve Your Goals & Dreams with Dielle Charon
Dome Living 101: Essential Steps to Build An Affordable & Profitable Dome Home with Whitney Hansen
"Is It Ok To Break Up With My Partner Over Money?" Listener Question
Takeaways w/Shannah: Money And Your Wardrobe with Jennifer Mackey-Mary
Saving Money On Your Wardrobe Starts With Pants with Jennifer Mackey-Mary
5 Ways to Build Good Money Habits: A Summer Guide with Eric Roberge
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