Episode 169 talks about how to create passive income, featuring Rachel Richards of Money Honey Rachel Inc. Listen now!
At the age of 27, Rachel Richards quit her job and retired. She is now living off $20,000 per month in passive income. Rachel is the bestselling author of “Money Honey” and “Passive Income, Aggressive Retirement.” She built a real estate portfolio of 38 rental units by the age of 26.
She is a former financial advisor, and has been featured in CNN and Business Insider. By making the topic of money management fun, entertaining, and simple for her 250,000+ millennial followers, Rachel has helped thousands of millennials work their way out of financial despair.
Episode 169 Highlights:
- Achieving financial independence in her 20’s—Rachel was a self-proclaimed “financial nerd” 🤓 since her early teenage years, which really set the trajectory for her financial success in adulthood. Listen to how growing up in a home where money wasn’t abundant helped her break the cycle of financial struggle. We love to see it!
- How the FIRE movement changed her life—Rachel shares her journey of how she went from being a financial advisor into discovering real-estate investing and the Financial Independence, Retire Early world. Definitely a must listen!
- Real Estate Investing 101—Listen to how Rachel was able to build her real estate portfolio of 38 doors in 2 years! Mind. Blown. 🤯 Rachel also discusses ways to tell if real estate investing is right for you and what steps you should take to get started. Take notes during this part of the conversation, y’all. Lots of gems are dropped!💎
- Why she became a best-selling author—Rachel shares how becoming a 2x self-published author started off as a passion project that later turned into a successful business and some marketing strategies to learn about. Listen up, y’all. If there is something on your mind that you want to write about…WRITE THE BOOK!
- Different types of passive income—Rachel & Jannese share some of their favorite types of passive income streams you can get started with today, especially as a beginner! It’s time to hop off the hamster wheel of only depending on one source of income and let’s get to the BAGS💰, honey!
- And more!
We want to send a huge thank you to Rachel for coming onto the Yo Quiero Dinero® podcast and sharing her words of wisdom for our audience. This episode is all about using money to live your best life. We love to see women having these types of conversations and frankly, we want to see more women having them! It’s time for us to be unapologetic AF about our dinero and use it for what it can be: a tool to help build the life that you want. Thank you to Rachel for an awesome episode!
Until next time, stay empowered, stay inspired and #staypoderosa ✨
Watch the full interview on our YouTube channel! Subscribe here.
Get our exclusive Yo Quiero Dinero® merchandise available now!
WANT TO KICKSTART YOUR FINANCIAL JOURNEY?
Check out these YQD™ Partners:
Fundrise — Fundrise is an investment platform that offers low-cost access to real estate through REITs.
BetterHelp– Professional Support When You Need It, At The Fraction Of The Cost Of In-Person Therapy. Get 10% off your first month!