Description

In this episode of the Control Your Cash Podcast, hosts Olivia and Tim chat with Joey Mure from Wealth Without Wall Street. Joey discusses his journey from working in the mortgage business, feeling financially insecure despite a high income, to discovering the concept of financial independence through his partner Russ and a pivotal book. Listen as they dig into the idea of controlling cash and generating passive income, contrasting it with the traditional Wall Street approach, and highlighting the importance of setting personal financial goals, careful planning, and the right support system. Joey also shares insights from his new book, which offers a comprehensive guide to achieving financial freedom. Tune in to learn how to align your financial strategies with your goals and create lasting financial security.

Key Takeaways

The Power of Access to Capital:

• Having access to capital opens up opportunities that are otherwise missed. Joey emphasizes the importance of being able to choose the best investment opportunities and passing up those that aren't good enough.

Financial Freedom Defined:

• Joey defines financial freedom as having passive income exceed monthly expenses. He emphasizes the importance of controlling cash flow and aligning financial strategies with personal goals.

Critique of 401ks and Similar Accounts:

• Joey points out that 401ks are not conducive to achieving financial freedom because they restrict access to funds until retirement age. He encourages thinking like Wall Street and banks, focusing on cash flow rather than accumulation.

The Book "Wealth Without Wall Street":

• Joey discusses the journey of writing the book, the challenges faced, and the value it provides. The book offers a roadmap to financial freedom, outlining the steps of setting goals, creating a plan, and finding support.

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