About this Episode
Hi! Welcome to the Creative Force podcast. This week I speak to Sarah Nicole Nadler. Sarah is a licensed financial advisor, the founder of Fierce Feminine Finance, and the co-author of From Hustler to InvestHer. In this episode, she shares the difference between scarcity and abundance mindset, financial terms every woman should know, how to get out of the trap of trading time for money, and so much more!
Scriptures Mentioned
For the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows. – 1 Timothy 6:10
My Takeaways
Financial freedom: having monthly cashflow (passive income) that exceeds your monthly expenses of your dream lifestyle.
The way you calculate your freedom number is identify the life you want to live then how much monthly income do you need to live that life.
Asset – anything you own on the positive side of your ledger, has value. (Examples: stocks, 401k, etc.)
Your home could be an asset or a liability.
Cash-flow – money coming in
Cash flowing asset – An asset that brings money in (Ex: rental property)
Passive – doesn’t require your time.
Your income is directly tied to the value you are bringing in the world.
If you remove time from the equation there is no limit to how much value you can bring, therefore there is no limit to how much money you can make.
Financial success is not a privilege it is a duty.
Your value has nothing to do with how much time you put in and everything to do with the transformation you caused.
Approach wealth-building from the point that I will bring value to society.
78% of Americans are behind on retirement.
The average American if you just for inflation is making less than the average worker during the Great Depression.
Passive Income Pathway - Step one - stabilize your existing income stream (your business). Bring your income up and your expenses down.
Resources