Hey guys, Stefan here, just at the gym right now finishing up a workout. I
want to record a quick Q & A video, to answer a great question that I just got.
Gotten this question from a few different people now, but the question in essence
is, "How is it that you're able to do so much? How is it that you're able to achieve
so much and make progress towards all different areas of your life, and have
balance in your life?" This person, they've seen the progress since 2012 on
my blog, YouTube channel, the monthly goals reports month after month, the progress
that I'm making, the goals that I'm achieving in all areas of my life. They also
see on social media, on SnapChat every morning, I wake up, do my
morning ritual, I do my morning cardio, I plan out my day, making progress towards my
businesses, I'm recording videos, I'm reading books, I'm learning and improving
myself. I go back to the gym for my second workout, and I got a relationship,
I'm travelling the world. All these things, and oftentimes people have a
tendency to compare themselves, and it's just human nature, we compare ourselves to
other people. We might see this person's doing this, and then you compare
yourself at your speed, your rate of success and progress in your life.
You wonder, how is that possible? How is it that you're doing it? It's really unfair to
compare yourself, but human nature, because everyone's at a different stage
of life,
different path. Everyone's on a different path. I can give you like a time
management tip, productivity tip or something like that, and I've already shared a lot on my
YouTube channel, how I plan my day, how I plan my life. Really the
biggest things, the biggest differences
are number one, passive income, the biggest difference by far.
The biggest challenge that a lot of people have is that they have primarily
active income.
100% of their income is active income. They don't have any passive
income whatsoever. Active income is when you're trading your time for money.
You're only getting paid based on the time you're putting into something.
Often times people that have a job, it almost puts you at a disadvantage because
8 hours of your day is spent dedicated to someone else. Someone else's dream,
someone else's
vision. So you're working 8 hours a day plus your commute, most of
your day is spent working for somebody else. That's a disadvantage
because that 8 hours or whatever that you're spending every day,
you're basically spending that time. It's omitted from the day. You're getting money
in exchange for that, which can help pay for your current lifestyle, and how you
living right now. But the challenge is that your current lifestyle that you have right now
may not be the life style that you want.
It's not going to give you the ability to work out twice a day, to travel the world,
and to really make quantum leaps in your life and really improve yourself and grow.
I had a job, been a long time ago, back when I was 21 years
old.
I was working for my dad, the family business, before that working for a car dealership, before
that I was selling Cutco cutlery knives and stuff like that. So it's been a long
time but I know the difference. I've seen the difference in my life from then to today.
The biggest difference is passive income because I don't have a job that I have
to spend 8 hours a day on for somebody else. Every minute of the day I
I can spend it to build my own vision, to achieve my own goals, my own results in
all areas of my life. I have total freedom throughout the day.
If I want to wake up at whatever time, go to the gym, take breaks during the day,
or do something fun or whatever it is, I have the freedom to do
that. If I want to take a month off from my business I can do that and my
business will still grow and still continue making me money. All the work that
I put in years ago and today, of
building these passive income streams, of building up content and products,
and things like that, that are basically self-sustaining. So if I stopped
working,
my YouTube channel is still going to be there. Thousands of people right now are
watching videos that are on my YouTube channel, going on my blog and buying
products of mine and all that sort of stuff, and that's the power of passive
income. Basically it's automated, auto-piloted income that comes in day after
day, while I sleep, while I'm traveling, it doesn't matter what I do, it can't
stop. It's like this force that basically never ends.
Maybe it will end
eventually, if I did nothing and if I didn't sustain it or maintain it in some
way. But for the most part if I do nothing for the next few weeks or whatever, next
few months, I'm still making money. I'm still going to have a six figure income
coming in year after year.
If I retire, which I probably never will because I love what I
do, I'm not going to have to worry about money or a pension or
anything like that because of the passive income. I got different
investments in real estate and in online businesses. All the different things that
I've set up. When you make passive income that's a big difference, a huge
advantage because I don't have to trade my time for money.
My time is not related to money right now. I can do nothing and still
continue making money. When you trade your time
for money, when you stop working, you stop making money. In fact you lose
money. You go on that vacation, you basically take your weekend off, you're
losing money because that's time you can be spending to make money. So that's a huge
advantage guys, passive income. I believe everybody should make it a goal
to make passive income, you have to really. It's such an important
thing because a lot of people they depend on their pension or
something like that when they retire, and unfortunately a lot of people are not going to get as
much as they expect when their pension comes. So you really have to make passive
income to help prepare you for different stages of your life. Passive
income comes in many forms. It could be investing your money, you could still have a
job, but invest your money into stocks that pay dividends or real estate that can
provide a passive income for you. You can rent it out. You can build
businesses whether it's online or offline. You can create a vending
machine or something like that or a car wash, there are many different forms of
passive income. I don't think it's ideal or smart to have
100% of your income be active and 0% being passive. Maybe it's
better if you can eventually get 95% active, 5% passive income.
For me in my case, 98% of my income is passive, while 2%
is consulting or coaching that I do but only because I love it and it's fun and really
enjoyable for me.
You got to make it your goal to make passive income if you want to have a great life
style because the challenge is the money that you are getting from your job.
There is nothing wrong with that but understand that it can be holding you back
in your life because during that 8 hours a day you're not able to really grow
and improve yourself and live the lifestyle that you want. It's basically allowing you to
live the current lifestyle of a 9 to 5 life. Traveling
a few times out the year, you're not going to have the time and
the freedom as much to
work on other goals and do other things in your life. I can relate to this
more recently because my girlfriend, she doesn't have a job right now, because she's
building an online business, but when I first met her she had a job.
It was a huge challenge for me, just
frustrating because she wasn't able to travel with me and do these fun things that I
wanted to do. I'm used to just having so much freedom. That's the biggest thing
that has given me the advantage that I am able to do so much. The other one is
that I don't try to do everything by myself. I'm smart enough to realize that
there are only 24 hours in a day, we all have the same amount of time, but if I try to
do everything by myself, I'm also limiting myself as well. I'm
basically still being a slave in working for myself. What I mean by
that is that I need to work on the business and not in the business, and that's a very
important thing. So what I've realized a long time ago is that I need to
leverage myself. I need to use my time in a lot smarter ways,
I need to hire other people, build a team of people, that can help me create
more free time because time is the most valuable thing. So what I've done is
that I outsource different parts of my life. I bring in a virtual assistant, I got
a team now that edit my videos, that does a transcript, that does my audio podcast
and audio engineering for that. My social media,
my customer support, I got programmers, I got pay per click guy on my team,
I got my affiliate manager. I've built a team and what that's allowed me to
do is it freed up my time more so I can spend my time doing things that are
really important for me.
Those are things like working out, building my body, work and spend time on my relationship,
and traveling, having fun, recording content and videos,
learning things and going to seminars, doing the things you guys see
me do, because I don't have to do all the boring stuff that I have to do.
The really repetitive boring stuff I don't have to do that anymore because I hire other
people to do that for me. I personally cannot stand cleaning
and having to cook and prepare meals and stuff. I much rather spend my
time on doing things that are more meaningful for me. If I want to cook, if I want to clean
whatever, fine I can do that, and get some enjoyment if it's a fun thing that I'm planning to
do. But for the most part I want to free up my time so I can focus on what's
most important, what I enjoy and what I'm the best at. Those are the two
biggest things in this video here, because I can go on forever, but those are the two
biggest things. They come together because once you start making
money and passive income you can then use that money to free up your time even more.
You can outsource and delegate things to other people. So really I think
passive income is the ultimate. It has changed my life more than
anything because not only does it give me the freedom, I can live the
4 hour work week if I want, but again it basically provides the money that I
can use to free up even more time. Time is so
important, the most scarce resource that we have, it's a depreciating asset. Most people act
like we have an unlimited amount of time and we don't. You
have to use your time wisely, spend it now to build passive income. Make money so
that you can get out of your job which is basically sucking up a lot of your time
every day. Once you make passive income you can use some of the money
you are making to outsource other parts of your life and grow even faster. That's
my advice, that's how I do what I do, that's the essence of it.
Combine that with a lot of productivity tips and time management stuff and
that's how you're able to live whatever kind of life that you want.
Not sure if that's really helpful or not, but that's the answer.
Thanks for watching guys, make sure to leave a comment below, and subscribe for
more videos.
Going to get back to my workout so take care. Hey this is Stephan and thank you so
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