Oct. 26, 2021
Money as a Resource with Paul Thompson
In 2015, Paul Thompson wanted out. His corporate office had become a suffocating cell. Paul decided to start buying rental houses, build passive income and break the chains of Corporate America. He was so successful; he secured 20 deals in his first 18 m...
In 2015, Paul Thompson wanted out. His corporate office had become a suffocating cell. Paul decided to start buying rental houses, build passive income and break the chains of Corporate America. He was so successful; he secured 20 deals in his first 18 months of investing. Since that time, he has acquired more than two dozen rentals without bank financing. Now he teaches others how to raise money from regular people that have some funds to invest. In addition to coaching others and still investing himself, Paul hosts a podcast to educate others. Ready Investor One Offers tips, hacks, insights, and more for listeners interested in creating opportunities for passive income. "Level Up YourLife through Real Estate investing."
In this episode, Paul shares how to look at money as a resource and not something to strive for, switching one's outlook from earning loads of money to creating streams of income or buying an asset that works to provide revenue while you sleep.
Checkout: Raising Capital Without Rejection Full-Day Workshop (Online):https://investorattractionworkshop.com/
What you'll learn in just 17 minutes from today's episode:
- Find out what your time value of money is
- Discover the five categories of thinking about money as simply a resource
- Find out how to have a mindset shift of not trading your time for money
Resources/Links:
- Website: https://myfreedomfoundry.com/
Topics Covered:
- 01:34 - A mindset shift you want to take around money
- 03:24 - Tips on how to shift to this new money mindset
- 06:24 - Creating residual income
- 07:23 - Value is subjective
- 10:52 - Remind yourself that you don't actually want money
- 12:23 - What can you do that's valuable and interesting to you
- 15:43 - Looking forward to Paul's presentation about analyzing the market, finding your niche, and making offers to help people
Key Takeaways:
"One of the best exercises that I think someone can do to kind of capture and get their head around the goldfish bowl that they're in is to figure out what your time value of money is." - Paul Thompson
"One of the first things you want to get your head around is separating time from money. There's a saying that time equals money, and we're trained to exchange our time for money. And that's a huge mistake if you want to accomplish the things you want to do in your life. Money is simply a resource; you don't want to just be trapped into the framework of exchanging time for money." - Paul Thompson
"Value is subjective, so you want to go out into the marketplace and create value." - Paul Thompson
"You don't want more money; you want what money can do for you." - Paul Thompson
"Figure out what you want personally, figure out how to be resourceful enough to acquire the assets and the money that you need to do what's important to you. Do something that matters to you and your life." - Paul Thompson
"You have plenty of money for all the things in the world that you truly want." - Paul Thompson
Connect with Paul Thompson:
- Website: https://www.pauldavidthompson.com/
- LinkedIn: https://www.linkedin.com/in/paulthompson-wincoreinvest/
- Facebook: https://www.facebook.com/paul.thompson.16100921
- Instagram: https://www.instagram.com/pauldavidthompson/
- Twitter: https://twitter.com/WinCoreInvest
- Podcast: https://podcasts.apple.com/us/podcast/ready-investor-one/id1343930864
Connect with Dave Dubeau:
- Podcast: http://www.propertyprofitspodcast.com/
- Website: https://davedubeau.com/home
- Investor Attraction Workshop: http://www.investorattractionworkshop.com/
- Facebook: https://www.facebook.com/thedavedubeau
- LinkedIn: http://linkedin.com/in/davedubeau
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