What does it mean to be Self Unemployed | Self Unemployed Podcast

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Summary
The conversation is the first episode of the Self-Unemployed Podcast, where Colin and Drew discuss the concept of being self-unemployed and achieving financial independence.

They explain the four phases of wealth:

1. Stopping money from working against you,
2. Starting money working for you,
3. Building wealth through education and risk-taking, and
4. Protecting your wealth.

They emphasize the importance of financial literacy and education, and the need to find purpose beyond just making money. They also touch on the FIRE movement and the importance of balancing saving and enjoying life. Phase three of building wealth involves taking risks and continuously educating oneself. It is important to be cautious of the quality of education available, as some courses may not have your best interests aligned. Phase four focuses on protecting your wealth and finding your purpose. Good debt, such as a mortgage or borrowing to start a business, can be beneficial, but it's crucial to reduce leverage and maintain financial safety. In phase four, it's essential to contribute to society and find ways to make a positive impact.

Manifesting goals can be powerful, but it's important to take actionable steps towards them. Setbacks and failures are learning opportunities that contribute to growth and success. Colin discusses his journey from working in the film industry to starting his own YouTube channels and teaching English. He then explains how he got into property investing and the strategies he uses, such as buy-refurbish-rent-refinance (BRR). Drew shares his own background in graphic design and TV/film, and how he transitioned into property investing. They both highlight the importance of networking and the supportive community they found through the Samuel Leeds Academy. They also discuss the misconceptions about being a landlord and the value they bring to the housing market.

Takeaways

• 
  Being self-unemployed means achieving financial independence and not relying on selling your time for money.
• 
  The four phases of wealth are: stopping money from working against you, starting money working for you, building wealth through education and risk-taking, and protecting your wealth.
• Financial literacy and education are crucial for achieving financial independence.
• Finding purpose beyond making money is essential for long-term fulfillment.
• The FIRE movement focuses on saving and investing to achieve financial independence and retire early.
• Balancing saving and enjoying life is important for a fulfilling financial journey. Phase three involves taking risks and continuously educating oneself.
• Be cautious of the quality of education available and ensure that the courses align with your best interests.
• Phase four focuses on protecting wealth and finding your purpose.
• Reduce leverage and maintain financial safety by paying down debt and making smart financial decisions.
• Contribute to society and find ways to make a positive impact.
• Manifesting goals can be powerful, but it's important to take actionable steps towards them.
• Setbacks and failures are learning opportunities that contribute to growth and success.
• The importance of networking and finding a supportive community.
• The value landlords bring to the housing market
• The strategies of buy-refurbish-rent-refinance (BRR) and lease option agreements
• The benefits of continuous learning and education

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