Share The Wealth Show

Flashback Friday Ep 06 - Income Rich But Cash Poor


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Imagine having a high-paying job but still living paycheck to paycheck, trying to get out of debt? In today's Flashback Friday Featured episode, Dr. James Bryant shares how he escaped being cash-strapped and built generational wealth while doing good. James' positive mindset is key to his success, and he highlights the importance of focusing on goals. He also discusses passing more than a financial legacy to his kids and structuring his life to be fully present in his family. James Bryant, Ph.D., P.E. is the Founder of Engineer Your Success, LLC, a boutique leadership training and peak performance coaching firm designed to help engineers win in business and in life. Dr. Bryant believes that you can build the business of your dreams and have a life that you absolutely love. He has over 20 years of experience leading teams and organizations in the private and public sectors and is the host of the Engineer Your Success Podcast. Dr. Bryant is a professional engineer, a certified John Maxwell Leadership speaker, trainer, and coach, and most importantly he is a loving husband and father. Dr. Bryant is an Alumni of the initial Myers Methods Multifamily Real Estate Investing Course and using joint ventures, has an ownership stake in 4 multifamily properties that have a total of over 85 units.   ________________________________ FREE Discovery call for The Microfamily Investing Accelerator  https://calendly.com/noirvest/microfamilymavericks  ________________________________   [02:31 - 10:42] Who is Dr. James Bryant? ● Being income rich but cash poor ○ Not living beyond their means but somehow still struggling to get rid of debt ● How they started monitoring cash flow to manage expenses ● The start of his investing journey   [10:43 - 17:32] Getting Your Finances in Order ● Going to multifamily to pay off their mortgage ● Tapping into lines of credits and their retirement account ● Locking in on financial goals ● Projecting your cash flow ○ This has a psychological impact   [17:33 - 20:11] Doing Well While Doing Good ● Financial freedom enables you to give back ● The fulfillment in being able to provide for your parents   [20:12 - 29:07] Having a Growth Strategy and Looking at the Future ● James talks about investing passively in the future ● Leveraging on your 401(k) to get the resources needed to invest ● The work he does with Engineering Your Success, LLC ● He shares stories about his kids and what’s the legacy he wants to leave behind   [29:07 - 36:36] Closing Segment ● The final 2 questions ○ James’ take on the diversification: Niche down! ● Connect with James!     Key Quotes “Success is a journey and it shifts. How we view and use money, and leverage money begins to grow as we grow.” - Dr. James Bryant “Your kids see who you are not who you project to be. And they begin to follow your cues.” - Dr. James Bryant “You can only be an expert at so many things. So even if you're looking to generate income from other areas, then which one are you going to be the expert in? Which one are people going to look to you to be the authority to speak about, to talk about when it comes to investing and moving forward?” - Dr. James Bryant   Connect with Dr. James LinkedIn https://www.linkedin.com/in/jbryant2/ Instagram https://www.instagram.com/drjamesbrya...   Also, check out his Engineer Your Success podcast Listen here https://podcasts.apple.com/ca/podcast... and check out LinkedIn https://www.linkedin.com/company/bett...   Let’s get connected! You can find Nicole on...
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Share The Wealth ShowBy Nicole P.