On this episode of The Passive Income Attorney, Seth tells us today is the day that we will rediscover our freedom and that we can achieve freedom through passive investing. Enjoy!

“We’re here today to discover how we can become an attorney by design or live a lifestyle by design. How we can take a month off and see the world, how we can not only survive, but thrive.”

HIGHLIGHTS:

0:00 – Intro
0:32 – Today is the day you rediscover your freedom
1:01 – Slowly over time, our lives get more complicated
1:30 – We get caught up in what’s next but we forget about the now
1:50 – At some point we realise every day is the same
2:19 – Maybe you’re lucky enough to be able to take a vacation this year but regardless, it is the endless cycle
2:50 – The legal profession, among others, just aren’t what they used to be
3:21 – We’re here to discover how you can become an attorney by design and live a free life
4:18 – Upcoming episodes will involve guests who have successfully become attorneys by design, as well as experts in passive income
4:40 – Seth challenges you to imagine what you would do tomorrow if you had no responsibilities for the next month
5:50 – Seth encourages you to look up the tale of the fisherman and the businessman
6:35 – It’s time to create passive income streams to give us freedom

FULL TRANSCRIPTION:

As the Compton-educated scholar, Ice Cube once said, today is a good day. It’s a good day because today is the day, you’re going to rediscover freedom. Today’s the day you’re going to remember what it’s like to be truly free and how you can get that feeling back.

Most of us never do, but when they finally do it’s too late to enjoy. Most of us are truly free as kids with no responsibilities, not a care in the world, no bills, no bosses, no billables slowly but surely over time though, our lives get more complicated with new relationships and new responsibilities, new desires and new motivations. Accomplishments come with consequences.

My favorite law school professor always said onward and upward, but at what costs? We as highly successful, highly ambitious, highly productive individuals, we get caught up in what’s next. And we tend to forget about the now. You go to college; you go to law school or med school or grad school. You get a great career, and you start getting paid. You may even get married or have kids along the way and you buy a big house and a nice car. And everything’s great, right? But at some point, you realize every day is the same. You wake up, you put on your business suit, you kiss the family goodbye for the day you work, you work, you work, you might slip in a meal, go home, go to sleep, and you do it again.

Five days a week. You’re waiting around for the weekend and that’s okay. Only if you’re lucky enough to not have to go into the office that particular weekend, maybe you’re lucky. And you can take a quick vacation this year. Maybe not may maybe your relationships with your wife, for your husband, your kids, your parents, or your friends aren’t what they used to be or should be. But maybe they are. We all handle stress and time management at different levels of success. Regardless, this is the endless cycle. These are the golden handcuffs.

Sure. You might make a good living, but you have bills and expectations of living to match. And unfortunately, the legal profession and many other traditional high-paying professions, just aren’t what they used to be. We’re subject to more liability than ever. We’re expected to do more, to bill more, get more clients to go to more events, more administration at times, especially in the beginning though, it can be new and provides purpose. Most of us never question it, or if we do, it’s a fleeting moment. But not you. Not me, not us. We’re here today to discover how we can become an attorney by design or live a lifestyle by design. How we can take a month off and see the world, how we can not only survive, but thrive in an economic downturn or when the cycle of our practice is in a trough said simply how we can choose to live this life the way it was intended to be lived free.

Well, who has freedom? How does smart attorneys gain freedom? Who has done it? It? One example was Harvey Levin. Who’s Harvey Levin? He’s a former attorney who owns TMZ. He owns real businesses, assets and real estate. He’s not trading hours for dollars. That’s the focus of the passive income attorney podcast. I want to show you how I’ve done it. And I want to bring others on the show who have done it or can provide incredible value to you so that you can do it yourself. In upcoming episodes, we’ll be focusing on having guests who have successfully become attorneys by design and transition from billables to business.

Some still practice and love it. Some are recovering attorneys and don’t, and they love it. They have passive residual income. We’ll also interview experts in passive income strategies and investments who can help you achieve financial freedom. I challenge you today to take a journey with me, close your eyes, and just think about what you would do tomorrow if you had absolutely no responsibilities for the next month, no office to go to, no bills to pay, annoying clients, no pressing deadlines and enough money in your pocket to do what you want. What would you do? Where would you go? And who would you do it with?

Would you sleep in, would you read a book, take a nap? Would you take your kids to school or go on a date? Take your lover to dinner. Have you ever been Barcelona? It’s awesome. How about a trip there? Have you ever been camping Yosemite? It’s awesome. Do it. Have you ever been whitewater rafting in Colorado? It’s a rush, do it. Just take a few moments to think about what you would be doing if you were truly financially free and could do whatever you want whenever you want.

All right. Back to reality. Thinking about time Freedom makes me think about the tail of the fishermen and the businessman. If you haven’t heard of it, look it up, but I won’t bore those that have heard it before, but it’s basically the story of a businessman who is working his way through life and a fishermen who is enjoying his time. The businessman thinks he’s giving the fishermen Sage advice on how to grow his fishing business. So that one day he’ll be what we would call financially free before realizing himself that the fishermen is already and enjoying his life just the way it is. For most of us, we’re the businessman, not the fishermen. And we need to take notice of that. It’s time for a change. It’s time to create passive income streams now so that you can have the freedom to live your life on your own terms in the not so distant future.

Even if you don’t leave your practice in whole or in part, the incredible shot of confidence you’ll gain from knowing that you are no longer dependent on your job or your clients or your billables or the market. It’s an unbelievable feeling. It’s like the heavens parted and lifted the weight of the world off your shoulders. And you now have the clarity, confidence, and freedom to take life by the horns and live your best life and live in the present. It’s truly a rediscovery of that long-gone feeling you once had as a child, young and wild and free.

If you want to learn more about passive income through private equity or real estate, go check out our website www.passiveincomeattorney.com and snag the free passive income report, which will only be available for the next couple of weeks. All right, folks, until next time, enjoy the journey.