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Residual Income - Wealth Strategies - Financial Freedom With Murray Miller
Residual Income - Wealth Strategies - Financial Freedom With Murray Miller episodes
- S2E19: Insider Training with Chelsea Miller! Building a Lucrative Income Stream in Network Marketing: Part 1Today’s episode features one of our family members, Chelsea Miller! Listen in on this live leadership training call regarding how to build a massive and sustainable consumer network and develop a powerful residual income.Chelsea currently holds the #2 highest income position globally with Isagenix in the 35 and under age segment. Today we have the privilege of being a fly on the wall in this exclusive interview as she describes exactly how her income increased over $120,000 in the last six months and how she is on track to double that growth in 2023.Chelsea has been featured on numerous social platforms and is a main stage key note this year at our New Year’s Kickoff in Dallas. She is also featured in the new short film at https://thefamilybusiness.info/powershift/Chelsea’s Instagram: @chelsealauren_mBest,MurrayStart Your Free Wealth Coaching: Text me at 508-905-5561 with a couple dates and times and let’s begin building a financial wall around your family.Join the conversation on Social: Facebook, LinkedIn, Instagram
The post S2E19: Insider Training with Chelsea Miller! Building a Lucrative Income Stream in Network Marketing: Part 1 first appeared on The Family Business.
The post S2E19: Insider Training with Chelsea Miller! Building a Lucrative Income Stream in Network Marketing: Part 1 appeared first on The Family Business.
28 min - S2E18: Limitless with Chris HemsworthHere are my cliff notes and my take on the six episodes of National Geographic’s seriesLimitless with Chris HemsworthStress-Proof:
- Practice Mindful Meditation 3 times a week
- Remember Box Breathing when you’re stressed (4 seconds in, hold, out hold, repeat)
- When under pressure use positive self-talk
Shock:- Early morning ice baths 2-3 times a week
- Regular 20 minute saunas at around 175 degrees
- Cold water for the last 30 seconds of every shower
Fasting:- Avoiding eating until midday at least 3 times a week
- Go 24 hours without food twice a month
- Fast for 2 days once a quarter
Strength:- Endurance training 2 hours a week
- Rope climbing to hit a wider range of muscles
- Daily exercise away from the gym
Memory:- Eat and sleep well
- Challenge my mind and body with new experiences
- Amerce myself in nature away from the distractions and stress of modern life (unplugged)
Acceptance:Focus on what matters!Every momentEvery smileEvery tearEvery kiss…All of it, living your longest, healthiest, happiest life!Best, MurrayStart Your Free Wealth Coaching: Text me at 508-905-5561 with a couple dates and times and let’s begin building a financial wall around your family.Join the conversation on Social: Facebook, LinkedIn, InstagramThe post S2E18: Limitless with Chris Hemsworth first appeared on The Family Business.
The post S2E18: Limitless with Chris Hemsworth appeared first on The Family Business.
25 min - S2E17: Getting in the Entrepreneur Mindset (Part 2 of Conversation with The Mom Empire Podcast)
In this episode, I share with you the second part of my conversation with Alyssa and Jennifer from The Mom Empire Podcast about Marketing Your Side Hustle.
One thing I talk about on my podcast is the timing of your business venture and building a strategic wealth plan alongside that. Here’s strategy points for how it works with your business financial goals:
- PYF! Pay Yourself First
- Compound Interest
- Tax Free
Click here to download my Residual Income Guide.
Here are my tips for marketing & promoting your side hustle:
- Create Raging Fans
- Under Promise and Over Deliver
- Humbly Ask for Referrals
You want to Cultivate A High-Income Skill: Speaking, Sales, Coaching or Team Building, these skills will allow you to grow and scale your income.
- Choose a Niche: think of a books store, they have Categories or Sections like for example Relationships or Fashion or Computers or Food or Self-Help, you get the point, find something that feeds your soul and you’ll stay passionate! Dive in 100% and don’t second guess yourself, if it feels right you’ll be fine. And only you will know that.
- Build your Brand: and I’m not talking about just building a logo and name here I’m talking about who you are and what you were present. People will buy you long before they will buy your product or service. They need to believe in you, your passion, your knowledge, your commitment.
- Create Content: Content creators make money, content consumers spend money.Learn, consume, Communicate it with your own voice. Always strive to add value! Build relationships and trust. (Know, Like, Trust). They will tell you what they want. So perhaps share your take on classes or events that you attend or books you’ve read.
- Monetize: Do Network or even Affiliate Marketing. Promoting a product that you relate to and believe in.
- Finally you can Coach People (part of a value add if your in network marketing or for a fee in that is the only source of revenue) and you can create online course to go with your program or opportunity.
Start Your Free Wealth Coaching: Text me at 508-905-5561 with a couple dates and times and let’s begin building a financial wall around your family.Join the conversation on Social: Facebook, LinkedIn, InstagramThe post S2E17: Getting in the Entrepreneur Mindset (Part 2 of Conversation with The Mom Empire Podcast) first appeared on The Family Business.
The post S2E17: Getting in the Entrepreneur Mindset (Part 2 of Conversation with The Mom Empire Podcast) appeared first on The Family Business.
27 min - S2E16: Marketing Your Side Hustle (Part 1 of Conversation with The Mom Empire Podcast)
In this episode, I share with you the first half of my conversation with Alyssa and Jennifer from The Mom Empire Podcast about Marketing Your Side Hustle.
Ways to Create Residual Income to Boost Your Business:
- Owning a Business
- Royalties
- Subscription Models
- Affiliate Marketing
- Network Marketing
- Investments (ETF’s, Mutual Funds, Bonds and Cryptocurrencies)
- Compound Savings/Life Insurance
- Real Estate
Click here to download my Residual Income Guide.
One thing we talked about is the timing of your business venture and building a strategic wealth plan alongside that.Habits to Establish When Setting Your Business Financial Goals:
- PYF! Pay Yourself First
- Compound Interest
- Seek Tax Free Solutions
Managing Your Time in Order To Market Your Business:
- How to Create Raging Fans
- Under Promise and Over Deliver
- Humbly Ask for Referrals
Why outsource your social media and marketing? Your Time is Valuable. Look for Specialists.
Marketing plans look different for everyone and every business. My family may use different strategies for marketing their businesses but it all starts here:
Create an Avatar!
- Describe your perfect client/customer, partner, teammate, etc.
- Determine where they hangout (socialize, work, play, etc.)
- Connect with them on Social Media
Start Your Free Wealth Coaching: Text me at 508-905-5561 with a couple dates and times and let’s begin building a financial wall around your family.Join the conversation on Social: Facebook, LinkedIn, InstagramThe post S2E16: Marketing Your Side Hustle (Part 1 of Conversation with The Mom Empire Podcast) first appeared on The Family Business.
The post S2E16: Marketing Your Side Hustle (Part 1 of Conversation with The Mom Empire Podcast) appeared first on The Family Business.
31 min - S2E15: The things I would do if I had to start over!If I had $0 to my name! The Things I would do if I had to Start Over.
- Open your Contacts: Separate the people you know that either run a business or lead a team
- Reach out to business owners and ask them what problems they need to solve and simultaneously
- Find an established network marketing company with a proven track record and hundreds of success stories
- Set up a system of duplication for your new networking business to get that into momentum through consistent daily engagement.
The moral of the story is you don’t invest your way to wealth you work your way there and then you let your wealth do the work for you.- Stick with businesses with $0 or very low start up costs.
- Build a healthy money mindset!
- Maintain the mindset of someone that is driven and excited and passionate and can deal with adversity and delayed gratification, etc.
- Cultivate a High-Income Skill
- Choose a Niche
- Build your Brand
- Create Content
- Monetize
- Coach People
Start Your Free Wealth Coaching: Text me at 508-905-5561 with a couple dates and times and let’s begin building a financial wall around your family.Join the conversation on Social: Facebook, LinkedIn, InstagramThe post S2E15: The things I would do if I had to start over! first appeared on The Family Business.
The post S2E15: The things I would do if I had to start over! appeared first on The Family Business.
22 min - S2E14: The Investor Matrix – Why Rich Dad, Poor Dad is Wrong!What is wrong with the Rich Dad Poor Dad Cash Flow Quadrant and why I believe it needs to be updated!Tax Status vs. Investor StatusWhat is Financial Freedom:
- A number? One Million dollars, 5 Million?
- A Business Type? (Employee vs Owner)?
- Your Cash Flow?
- Where you sit in the Cash Flow Quadrant?
- Where you sit in the Investor Matrix?
4 Types of People:Rich Dad says:- Employee
- Self-Employed
- Big Business
- Investor
In a word this philosophy promotes one main thing: moving from employee/small business owner to Big Business Owner/Investor.Investor Matrix says:- Spender/Saver
- General Investor
- Calculated Investor
- Mastery
In a word this philosophy promotes mastering and becoming an expert in a niche and using that as leverage to build true financial freedom.Start Your Free Wealth Coaching: Text me at 508-905-5561 with a couple dates and times and let’s begin building a financial wall around your family.Join the conversation on Social: Facebook, LinkedIn, InstagramThe post S2E14: The Investor Matrix – Why Rich Dad, Poor Dad is Wrong! first appeared on The Family Business.
The post S2E14: The Investor Matrix – Why Rich Dad, Poor Dad is Wrong! appeared first on The Family Business.
20 min - S2E13: Recurring Income vs. Active IncomeWhat’s the difference between Recurring income and active income?
Recurring Income, also referred to as Residual or Passive income is money earned on an investment, or work completed in the past, that continues to make money without any additional effort. Active income, on the other hand, is money earned in exchange for performing a service. For example, hourly wages, salaries, commissions, and tips, are all examples of active income.
So, which form of income is better? Well, you be the judge…
I have heard Recurring income called the holy grail of income streams, and it’s pretty easy to understand why:
- Up front effort into something that will generate income for years, or even decades!
Recurring income still requires work. In fact, oftentimes, the upfront work required to generate Recurring income can take years.
So, what are some ways you can make Recurring income? Well, that’s exactly what I’m about to cover.
Examples of Recurring IncomeInterest Earned from InvestmentsEarning interest on investments is probably the original form of Recurring income.
Regardless, if you were to invest consistently, and aggressively enough to build up a sizable nest egg you can create an recurring annual income — living off the interest, alone!
This money would be a result of your disciplined investing throughout your life.
Another way to earn residual income is through Affiliate IncomeAffiliate income, it’s basically money you receive as a referral commission when users click-through a specially-coded link on your website, and make a purchase.
If you build a large audience online, and monetize your website with relevant affiliate links, you can generate affiliate income.
Rental IncomeIf you have the money to buy a rental property, you could spend years pulling in monthly rent checks as Recurring income.
In my estimation, this is one of the higher-risk forms of Recurring income, because it requires a typically large upfront investment, and if you can’t find a tenant to pay you rent, then you won’t make any money.
The other thing about rental income, is that you have to maintain the property; which, at times, can make rental income feel more like active income.
Online Course Sales and Info ProductsMany people make great money, some make six or even seven-figures a year from this Recurring income stream, alone. The key (or hard part) to this, once again, is to build a large online audience — which, yes, can take years. But, if you have an audience, and you launch a course that teaches a valuable skill, then you could potentially make tens of thousands of dollars per month.
I’ll stop with just those few examples for today for time’s sake however I left off several more including one of my favorites which is Network Marketing done right!
Check out the Power Shift trailer and movie. and download my free e-book so you can read about the additional sources and have a good reference guide. Download my e-book on the 8 Ways to Build a Residual Income
So why Is Recurring Income Important?Because your physical presence and effort isn’t continually required in order to make money.
But, here’s the thing, Recurring income, in most cases, takes years to build. But if you are willing to put in that kind of effort, you could end up literally making money while you sleep. And that’s the goal of Recurring income.
Active IncomeIf you’ve ever earned a salary or hourly wage, then you have earned an active income. And while active income might not be called the holy grail of income streams, it is still extremely important
Think about it, if you want to earn Recurring income from investments, then you need to first invest the money you earn from your active income stream. Or, if you want to build a Blog or Podcast with a big enough audience that you make money through affiliate marketing, display advertising, or online course sales, then you need to work hard to make active in order to sustain your life while you build it.
In most cases, Recurring income wouldn’t come to fruition without first earning active income. Sure, active income won’t make you money while you sleep. What it will do, however, is pay for the bed you sleep on while you work to build your Recurring income.
Here’s a few Examples of Active Income- Salary
- Hourly Wage
- Commissions
- Tips
- Consulting and Freelance Services
So which Is Better: Active Income or Recurring Income?Let’s be honest, recurring income seems better than active income. Think about it, if you have a Recurring income stream that generates money for you when you aren’t working, then you can take a vacation and come home to a bigger bank account. You can fall asleep and make money while you dream. Pretty awesome!
That said, active income is, more often than not, the foundation for you to make recurring income, so don’t dismiss it. Whether you want to make money from investments, a Podcast or a Blog, or anything else, you need to earn an income while you build your Recurring income streams. So, active income plays an extremely important role.
Start Your Free Wealth Coaching: Text me at 508-905-5561 with a couple dates and times and let’s begin building a financial wall around your family.
Join the conversation on Social: Facebook, LinkedIn, Instagram
The post S2E13: Recurring Income vs. Active Income first appeared on The Family Business.
The post S2E13: Recurring Income vs. Active Income appeared first on The Family Business.
19 min - S2E12: Bank-Owned Life Insurance
What do 3,800 Banks do with their money and why should you be doing it too!
Bank Owned Life insurance (BOLI)
What does the Bank do with your money once you deposit it?
One thing we know they do is that they buy bank-owned life insurance, earning between 6-15% average and you don’t have to take my word for it.
FDIC website: https://www.fdic.gov/about/
A few of the well-known banks that hold BONI
- US bank $5 billion
- Chase bank $11 billion
- Wells Fargo $18 billion
- Bank of America $22 billion
In total, 3800 Banks own about $190 billion in bank-owned life insurance
What do they do after they invest? They loan it back to you and me!
One of the reasons they do this is because life insurance is a very safe place to put your money. You don’t lose money when the market crashes; however, you get the benefits of the gains up to a cap.
So now they’re loaning it back to you for credit cards, boat loans, car loans, mortgages, lines of credit, and if you add all that up, they’re making double-digit interest back from us by loaning us our own money at much higher rates than they’re paying us!?
So can we become our own bank?
Yes! You can take some of your own money whether it’s in a lump sum or a monthly deposit or a combination of both and set up your own system using either Indexed Universal Life (IUL) or Cash Value Whole Life (CVWL) insurance policy(s).
The policies I’m particularly fond of right now are earning between 4% and 8% on average. You don’t have to worry that you’re going to lose money in the market because they have floor which is typically 0%, so when there is down year in the market there is a built in safety net.
Additionally there is no 59 ½ age rule on when you can take the money out without a penalty so you can get your money out at any age for any reason without a tax penalty! Because it is Life Insurance, it has an Income Tax Free death benefit for your family and includes many additional Living Benefits like Critical Illness, Chronic Illness and even Terminal Illness protection so you can get money out from the life insurance death benefit prior to dying!!
And here’s a big kicker when you structure these policies correctly, you can set up so the money you are eventually taking back out of the policy, which includes your own principle that you put in and the interest that you’ve earned can be 100% tax free!
That’s another brick in the financial wall you’re building around your family!
Let do this!!!
Start Your Free Wealth Coaching: Text me at 508-905-5561 with a couple dates and times and let’s begin building a financial wall around your family.
Join the conversation on Social: Facebook, LinkedIn, Instagram
The post S2E12: Bank-Owned Life Insurance first appeared on The Family Business.
The post S2E12: Bank-Owned Life Insurance appeared first on The Family Business.
10 min - S2E11: Your First NFT Is On Me !!!
If you are one of the first 28 people to take action and set up your digital wallet and send me your public wallet address YOU will be airdropped a FREE NFT from The Family Business Podcast and our sister company Residual Wealth Strategies!
Your RWS NFT is the following:This NFT is a 1/28 Residual Wealth Strategies NFT. Originally transferred to the first 28 loyal listeners of the Family Business Podcast and RWS Clients, these NFTs grant access to exclusive content such as Masterclasses, eBooks, and financial software owned/created by Murray Miller, the host of The Family Business Podcast.
Holders of this NFT are entitled to all this exclusive content for free, as apposed to non-holders that would have to pay individually for each course. Not only are holders of this NFT entitled to all Murray’s existing exclusive content, but they are entitled to all future exclusive content for FREE. FOREVER.
28/28 made
In today’s episode you will learn:Why you want it!
Go get a Digital Wallet. i.e. metamask or coinabase wallet (not an exchange or marketplace)
How to set up your wallet: https://www.coinbase.com/learn/tips-and-tutorials/how-to-set-up-a-crypto-wallet
You will learn, what is a:
- Seed Phrase 10-12 words
- Public key
- Private key
- Ethereum and other Crypto (bitcoin, etc.)
Go to OpenSea.com Marketplace connect you wallet
How to set up an OpenSea account: https://support.opensea.io/hc/en-us/articles/360061676254-How-do-I-create-an-OpenSea-account-
Keep in mind:
You don’t need to fund your wallet yet
I will need you Public Address and so I can airdrop you your RWS NFT (sorry only the first 28 people)
Once it appears in your wallet, you own it! You can keep it and utilize it’s utility or you can sell it or gift it to someone else.
Let do this!!!
Start Your Free Wealth Coaching: Text me at 508-905-5561 with a couple dates and times and let’s begin building a financial wall around your family.
Join the conversation on Social: Facebook, LinkedIn, Instagram
The post S2E11: Your First NFT Is On Me !!! first appeared on The Family Business.
The post S2E11: Your First NFT Is On Me !!! appeared first on The Family Business.
19 min - S2E10: NFT’s, Web3 and Residual Income
In this episode:
- What was VeeCon 2022?
- How NFT’s fit in to the economy!
- Examples of RealWorld Utility.
- The Family Business NFT Project.
- Thank you for making TFB #1 on Apple.
Click here for Justin’s Podcast Link
Join the conversation on Social: Facebook, LinkedIn, Instagram
The post S2E10: NFT’s, Web3 and Residual Income first appeared on The Family Business.
The post S2E10: NFT’s, Web3 and Residual Income appeared first on The Family Business.
22 min
About Residual Income - Wealth Strategies - Financial Freedom With Murray Miller
From the publisher's feed
Pursuing your dreams should be center stage in your life! Lifestyle entrepreneur and financial strategist Murray Miller will bring you money strategies to empower you to making your passion to live a…
life of abundance and financial freedom a reality! Murray gives you permission to dream again and pursue your passion through uplifting and inspirational stories from him and his family along with amazing guests! You will learn practical strategies that you can implement to break free from trading time for money and all of the downsides of the traditional pursuit of money to creating a freedom lifestyle and a sustainable residual income! When given the knowledge and tools to break free you can build a financial wall around your family and passionately pursue what you truly love.