Uncommon Wealth Podcast

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Episode 57

The Myth of Passive Income with Phillip Ramsey and Bryan Dewhurst

Uncommon Wealth Partners
Uncommon Wealth Partners
The Myth of Passive Income with Phillip Ramsey and Bryan Dewhurst
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Passive income sounds so nice. You make a pile of money while sitting on a beach somewhere. But does it really work like that? Not really. In fact, we don’t like the term ‘passive income’ and much prefer terms like ‘passionate income’ or even ‘active income.’ But why?

This episode is all about the goal we all have, which is financial and time freedom. Even if that means sitting on a beach somewhere, how do you get there? It’s like any “overnight success.” It takes time and effort. It starts with identifying your passion and discovering ways to create residual income and cash flow from that passion.

Because the truth is, passive income isn’t truly passive if you do it right. It’s passionate income. It is a lifestyle, it is a movement. It’s aligning your God-given gifts with a path to that time and financial freedom. That’s the path we love helping our clients with, and it’s what we want for you.

What You Will Learn in this Episode:

  • The hard work that is usually behind what people call passive income
  • How a growth mindset is a key element to generating cashflow
  • Why chasing rate of return is not always the best policy
  • The biblical principles behind where your money and attention go
  • How to keep the main thing the main thing
  • How your financial accounts tell a story about what you value
  • Aligning your investments with your interests and passions
  • How to create multiple exit strategies through your investments and cash flow
  • Why a value ladder is a great strategic business tool to build residual income
“We want to coin a different term other than passive income. We are all about helping people find cash flow from their passion. So how about, “passionate income?” – Phillip Ramsey Click To Tweet “What we think of as passive income almost always comes from years of active hard work to create streams of revenue that eventually take little effort from you personally.” – Bryan Dewhurst Click To Tweet “If you ask us where our money is going, it’s going into our business, and that’s as it should be. That’s what we are passionate about and where our focus is.” – Phillip Ramsey Click To Tweet “Everyone looking for time freedom is really looking for control. We're talking about it in many different ways, but at the end of the day, you want financial freedom to control your time.” – Bryan Dewhurst Click To Tweet “Numbers tell a story about why you're investing in what you're investing in. So I encourage you to look at each of your accounts and ask what story it is crafting for you.” – Phillip Ramsey Click To Tweet “It does take a strong mindset, strong conviction, and belief to keep persisting on this path of residual or passive income.” – Bryan Dewhurst Click To Tweet “Retirement at any age is all about cash flow.” – Phillip Ramsey Click To Tweet “The more complex the side hustle, and the more incongruent those are from what your gifting is or what you're passionate about, the more likely you are to quit or to lose money.” – Bryan Dewhurst Click To Tweet