Home » Passive Income = A Path to Financial Independence (Part 1) financial independence

Passive Income = A Path to Financial Independence (Part 1) financial independence

by Dragonspear



Earning money while you sleep is the dream of passive income that few realize. In part, that’s because it requires a significant upfront investment of active work and time to build the assets necessary. For those seeking financial independence, passive income can be both an accelerator and a plentiful source of cash once you reach FI, and leave your primary career.
In this show, we discuss Eric’s experience gained over the past eight years intentionally creating a diverse array of passive income streams. Today, 90% of his small business revenues come from passive sources, bringing him closer to reaching FI each day. Join us as we explore these topics and more in this first episode in a series about passive income.

Timestamps:
00:00 What is passive income?
04:01 The journey to 90% of income earned from passive sources
09:57 The Four Hour Work Week as inspiration
11:53 Trading time for money vs. more efficient paths to income
17:38 Building skills vs. earning income: Post-FI the priority may differ!
23:52 Following your own curiosity = the most successful cash generation tool

**Tools, resources + information:
**Our podcast:

**Jason’s FI Blog:
**Eric’s business: 30X40 Design Workshop:
**Eric’s YouTube Channel:

#twosidesoffi #financialindependence #firemovement .

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13 comments

Two Sides Of FI 12/09/2021 - 1:23 Sáng

Is passive income a part of your current strategy to achieve financial independence? If so, please share what you're up to! We'd love to check out your projects if you link them here. What ideas have you found to be most successful?

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Calvin Wright 12/09/2021 - 1:23 Sáng

Eric, I have been following your work for several years, and have done my part in contributing to your passive income! I’m a big fan of the products you have created. Do you have a rough breakdown of your passive income streams you could share? ie what percent do / did plan sets bring in vs digital tools vs books? I am interested in this path but am personally more interested in plan sets, rental properties, etc which would all allow me to create more architecture as my route to passive income. Thank you!

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Erik Haus 12/09/2021 - 1:23 Sáng

Producing YouTube content is not purely passive by my definition. Perhaps you continue to draw revenue on the content well after you have produced it, but definitely requires a lot of work. Same goes with owning real estate. To me, my idea of passive income are dividends (and annuities, albeit they are not in my mix).

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BINK BINKSON 12/09/2021 - 1:23 Sáng

Just found your podcast and channel – super well produced and compelling even in a crowded space. Into it!

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K. Brooks 12/09/2021 - 1:23 Sáng

Been following @30X40 Design Workshop for a few years now. What an ah ha moment for me. I have wondered many times about the model. I'm degreed in architecture but have specialized in woodworking and product design. I started my own studio 2 years ago and am in the "hours for dollars" grind now and not enjoying the rush from project to project. Jason talked about the "bin of ideas". I have that also and have yet to commit to any of them. What really helped in this episode was Eric's comment about finally deciding to try out the things that rang his bell with no expectations of greatness….just see where they lead. That resonates quite a bit.

Really appreciate your discussion. Will be looking for more and will be getting on the FI path full time now.

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Scale 12/09/2021 - 1:23 Sáng

Wonderful video!
I myself am on the path of creating passive income myself by following my curiosity with my YT channel and this video was very informative.
Your content never disappoints.

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Gobuilditbetter 12/09/2021 - 1:23 Sáng

Many years ago I worked for a couple that owned 60+ rentals. After seeing how little regard renters have we swore to never do rentals. So we build or buy and rebuild then SELL. One of the projects we have going now was to be a Short Term Rental till our County Regulations killed that idea for our 1928 Fishing Cabin. Sell it is. I still get Publishing for songs I wrote with Dangerous Toys back in 1988. It spends as good as any other money. Good real talk here Eric.

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Χρήστος Αγγελόπουλος 12/09/2021 - 1:23 Sáng

tHANX for making that vid

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Julian Lineham 12/09/2021 - 1:23 Sáng

Very inspiring, thanks

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christopher moody 12/09/2021 - 1:23 Sáng

This was cool. Thanks for sharing

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disco beach 12/09/2021 - 1:23 Sáng

This is awesome! Just graduated from architecture school, I’ve always found your content inspiring and I love this new perspective of finance in the industry

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archit 12/09/2021 - 1:23 Sáng

When did you make this channel you should have told us before seriously i watch you videos while im working its just motivation and information at the same time

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Carlos Vigo 12/09/2021 - 1:23 Sáng

Awesome content! Thanks for sharing!

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