Becoming Debt Free, Investing, and Earning Money-on-the-side (Episode 1)

Welcome to the very first episode of the Build Wealth Canada Podcast!

This episode is all about what you’ll get out of this podcast series and what you can expect in future episodes.

More specifically, the podcast series will focus on:

  1. How to become debt free in the quickest time possible (and how I did it becoming mortgage free at 29).
  2. How to master money management without spending hours entering receipts, cutting coupons, while still taking vacations, going out and enjoying life.
  3. How to invest so you can retire early (or have the freedom to do what you want, when you want).
  4. How to use your favorite hobby to make money on-the-side for guilt-free spending (restaurants, vacations, etc.), to pay-off debt, or save for an early retirement.

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Links and Resources Mentioned in this Episode

The “mini-retirement” concept that I mentioned is from the book: The Four Hour Work Week  by Tim Ferris (affiliate link). I consider this book a must-read for anybody interested in earning money on-the-side, productivity, and having a freedom lifestyle. But…

One word of caution about the book: When I first read the book, the action steps that Tim recommends sounded very easy to do, and I foolishly thought that I would somehow get instant results.

Upon actually implementing his advice and building a profitable online business, I can definitely say that while the advice he gives is fantastic, keep in mind that it’s not as simple as building a website over a few weeks and watching the money roll in automatically forever while you’re sleeping or on a beach somewhere. It does take a lot of learning and work, and you also have to keep working on your business at least part-time (or hire someone to do it) once you’ve build it. Your business will not last forever if you never work on it (due to competition, technological changes, etc.). The rewards of debt freedom early retirement, and more disposable income are worth it though but just remember that it’s not “get-rich-quick” and not unlimited money for the rest of your life without any work after you’ve built the business. Of course I’m not blaming Tim and I love this book, but I just wanted to give you that warning so that you don’t fall into the same mindset trap that I did when first starting out.

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