In this video, the speakers explored practical strategies and techniques that can help you accelerate your journey towards financial freedom, allowing you to spend more quality time with the people you love and cherish.
Our experienced wealth building experts will share their insights on how to collapse time and create opportunities for you to live the life of your dreams.
Whether you’re just starting your journey towards wealth building or looking to enhance your existing strategies, this video has something valuable for everyone.
Don’t forget to hit the subscribe button and turn on notifications so you never miss an update from our channel.
Transcript:
Chris Bounds 00:00
You talked a little bit about the traditional path. And really what the traditional path is, you need time and money, right? But the traditional path is go out and spend all your time making the money, which you have a limited amount of time, 24 hours a day, and then the number of days is unknown. But the traditional path as you do that, and then eventually, you have more time, and even though your income may have dropped, hopefully, your 401k or whatever is able to pay for it. But the problem is, you don’t have a lot of time left in days, right? That’s if you make it that long, right? Like, if you end up getting cut short for whatever reason. Like, it’s just, it’s, it’s lost.
Jennifer Beadles 00:42
Yeah, we need to build wealth sooner, so that we can enjoy it longer with the people that we love. And, and so that’s for, you know, for me, it’s like, how can we collapse time and help people get there sooner, so that they can control their time and, and you know, have more time with their loved ones or doing the things that they love?
Chris Bounds 01:00
Yeah, and then there’s a lot of ways you can you can approach that one day, I’d like Tim Ferriss suggestion of retire over a 60 year period, like, instead of going on, you know, waiting until you’re 60, to go on a month vacations, go on like eight different four day vacations throughout the year, and have these little mini retirements. And then, but you just happen to build business around that, which is, it’s, it lasts for more exponential growth, especially when you’re funneling that into real estate assets that provide cash flow,
Jennifer Beadles 01:34
right? Well, and then it also becomes real for others. So we travel a lot, my family, and I do, we traveled and it was 320 days and 2021.
Chris Bounds 01:45
It’s insane. I’ve read the post, I’m like,
Jennifer Beadles 01:48
it was a lot of what we had the greatest time. And, and you know, last year 2021, I think we spent maybe about 12 weeks traveling, so there’s a little bit, you know, less than we normally do. And then we have a full travel scheduled travel plan scheduled for 2023. And I think what that does, though, is it also shows what’s possible, you know, so I’m a woman, I’m in real estate, I’m a business owner.
And so, you know, I try to as uncomfortable as it is share my lifestyle, so that it can be potentially possible for other families and other women that are wanting to get into this industry and just kind of see, you know, how it might look for them. Maybe not everyone is into travel, but maybe you just want to be able to take your kids to school every morning and pick them up when they get out of school. Right. And so I think this, this idea of building wealth, as soon as possible, and as quickly as possible is really, really, really important for people.
Chris Bounds 02:45
Yeah. And obviously, the sooner you start the the more time it takes to compound. So any final thoughts on actually going since you have kids want to kind of get your opinion on one of the things that Wendy talked about, and that was work ethic. And you obviously have a very strong work ethic to achieve what you’ve what you’ve achieved in a short amount of time. Being in your position, with with kids and being a parent and a business owner? How are you teaching work ethic to continue that on like to your kids, any thoughts there?
Jennifer Beadles 03:25
Well, so my daughter is a salaried employee in our company. And we have her do work all the time. And so she does due diligence for us. She’s a lot of times, like helping with mailers, and things like that, we don’t actually give her the money that she earns, it gets funneled into we have a custodian account with Vanguard, so all of it gets invested. And then the, you know, whatever the limit is for the Roth IRA gets contributed to her Roth IRA. And then we have conversations as a family on a monthly basis about how our portfolios are performing.
And so she’s had some really great oil and gas plays, she’s had some great short reading of investments that she made. Yeah, I’m a friend in the commodity space. And so he gives me some really great tips. But anyways, and so it’s just, you know, we have these conversations around our investments, and what that means for us as a family and what that allows us to do as a family as well. I think another big thing is we we often, you know, travel may go to other countries and we, you know, kind of experienced the local culture of, you know, families working together, and I think that that’s like really, really impacted her as well as just to kind of see a different lifestyle than the average American family.
And, you know, potentially the struggles and you know, the trials and tribulations that these third world countries are going through and so, you know, she’s really like caught on to that. The other thing that we do so we do not buy our daughter any presents for birthdays holla As she gets zero Christmas presents from us, and what we’ll do, and yeah, it’s a little probably controversial. But she’s, you know, she she gets a lot of travels and you just fly business class so she’s okay.
But instead we go and we do the Secret Santa and we buy gifts for children that otherwise probably wouldn’t be receiving Christmas presents. And so she’s really into that and she understands that, you know, again, we have the ability to do that and rather than buy her presents because she doesn’t need anything else, you know, we get to give that gift to other children and their families and she loves it. Love it, love it.