221: The Entrepreneurial Journey to Forever Passive Income with Josh Cantwell

2021-09-03

As I was taking my daughter to school today for her first day in 6th grade, I couldn’t help but think about the differences between where my family was financially when I was her age compared to where we are now. There are a lot of similarities but there are some pretty stark differences as well. This is what inspired me to jump on the mic and share this story with you today. To tell the story, you have to know that I grew up in a lower-middle class family on a ranch in Ohio. My father went the traditional route, attended Ohio State U...

To tell the story, you have to know that I grew up in a lower-middle class family on a ranch in Ohio. My father went the traditional route, attended Ohio State University, got his masters degree and started climbing the corporate ladder at Sherwin-Williams.

Things were very traditional at home in our Irish Catholic family. My parents never cursed around us, we ate our meals together and talked about how our days went—at least they tried to get us to talk about our days.Things were fine until the 80’s when my father lost his job at Sherwin-Williams. And when I later found out they had declared bankruptcy it made me realize how proud I was of my father—he never told us and we never had to worry about money.

Dad’s bankruptcy forced him into entrepreneurship, shifted his mindset and ultimately allowed him to achieve tremendous personal and financial success.

There are so many similarities between our lives, and how we’ve achieved the success and freedom that we always wanted, and yet, it was very different when my father was my age and when I was my daughter’s age.

In this episode, I’m going to share some very personal experiences and talk about what I learned from my Dad that helped me succeed in my own entrepreneurial life.

Key Takeaways with Josh Cantwell

How Josh’s father went the traditional route in the corporate world and experienced greater success when he pivoted to entrepreneurship in his 50’s.
How his father took over a business and increased his net worth by millions of dollars in 6 short years.
Why bankruptcy eventually led his father to his greatest successes and forever passive income.
The wild parallels between Josh and his father, and why Josh got into financial planning after college instead of getting into the corporate world.
How Josh was able to leapfrog some of the challenges that his father had gone through by learning from those experiences and realizing what worked, and what didn’t.
How Josh and his father essentially became colleagues later in life, going on father and son retreats and talking about business, life and success as equals.
It’s okay to start small as an entrepreneur. Start small and then grow big.
Sometimes the chaos in life can lead you to breakthrough decisions.
Level up with commercial deals as quickly as possible.
What Josh learned about forever passive income from his father and how they achieved it from different types of businesses.
Pay attention to those who have been there and done it.
Whether they are coaches or mastermind members, these are the people that you will learn from the most.

Want the Full Show Notes?

To get access to the full show notes, including audio, transcripts, and links to all the resources mentioned, visit https://acceleratedinvestorpodcast.com/221

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