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Episode 385 - Invest for cash flow with Tom Burns
Manage episode 379951328 series 2942547
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Tom Burns, a former orthopedic surgeon and physician for the US ski team, shares his journey to financial independence and offers advice on how others can achieve the same. He emphasizes the importance of investing for cash flow and building multiple streams of income. Tom also discusses his transition from medicine to real estate and the benefits of being financially independent. He encourages listeners to start small, gain education, and surround themselves with like-minded individuals. Tom shares his favorite books and thought leaders that have influenced his journey to financial independence.
**Key Takeaways:**
1. Financial independence is about having assets that produce cash flow, not just a high income.
2. Start small and focus on cash flow when investing in real estate.
3. Passive income allows for more freedom and choice in life.
4. Surround yourself with people who are heading in the same direction or have achieved what you want to achieve.
5. Celebrate small wins and use active patience to compound your success.
**Quotes:**
- "Real wealth is having assets that produce cash flow." - Tom Burns
- "You can have partial independence by taking care of part of your bills." - Tom Burns
- "You can't learn your way to financial independence, you have to get in the game." - Tom Burns
- "Start small, your mistakes will be small, but the lessons will be the same size." - Tom Burns
- "Invest for cash flow, you can't eat equity." - Tom Burns
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