Click here to listen to the full MASTERCLASS: Achieve financial freedom by working less and earning more with Danny Randazzo
[01:16] – Danny shares something interesting about himself that most people don’t know.
He met his wife for the first time on a boat in Halong Bay, Vietnam. On that boat he told his buddy that he would marry that girl. A couple years later, they got married.
[02:32] – Why was Danny so interested in achieving financial freedom?
It all started when he was 5 years old – he lost his wallet. It inspired his book The Boy Who Lost His Wallet, which is the number 1 new release in the education space for children on Amazon.Danny’s book series, The Wealth Lesson for Kids, is filled with real-life examples – things that happened to him throughout his journey to get to where he is today. It is the backbone of financial freedom for him.Everyone is responsible for their own success, their own freedom, and their own finances.
[05:22] – Danny shares a story about a business realization he had at 8 years old
When he and his buddy were 8 years old, they stayed in university dorm rooms over the summer to attend camps.During the camps, their parents would load them up with a lot of snacks to survive for 3 days and 2 nights, which they sold to the other kids in the camp.That experience taught him that he has the ability to run a small business and generate income in several different ways.
[09:44] – What does defining the freedom number mean?
Danny is used to getting the answer first and then figuring out the solution afterwards when it comes to math and solving a story problem.The freedom number, or your freedom goal, is how much income you need to generate to live.The financial freedom goal should always be updated as your life situation changes.Achieving that financial freedom opens your brain to creativity, fulfillment, and giving back to the community.
[13:06] – How do we get to that freedom number?
The light bulb is really connected with real estate. Danny’s plan was always to use real estate to generate income in order to achieve financial freedom.You can passively invest in opportunities to build income streams that will help you slowly get to your target.Financial freedom is not a ‘get rich quick’ scheme.
[17:24] – Danny talks about his financial freedom journey.
It was an obsession for him to have investments that would slowly help him build a portfolio that generated enough income to pay his expenses.They didn’t have an exact plan, but making the initial effort and being open to change and embracing the journey allowed them to grow and acquire more assets, build a portfolio, and get to where they are today.
[22:27] – What was the defining moment of Danny’s journey from zero to $130 million?
The defining moment was when he felt that tipping point in his gut, and it came when he was surrounded by the right people. Meeting the right people and forming the right team was exactly what they needed for the business to take off and get to where they’re at today.You cannot force finding the right people to work with. It needs to be a natural progression.
[25:39] – Developing the freedom plan and taking action on that plan.
The best education is through real life experiences.Educate yourself, but then go and take action. Be involved in the business in some way so you can use that experience to your benefit.
[28:10] – What does Danny have to say to those who were building their real estate portfolio to generate income?
Don’t believe what you see on HGTV.If you’re interested in building a real estate portfolio, you’ve got to be educated first.If you’re interested in investing passively in real estate, go to PassiveInvesting.com where Danny and his team provide info on how you can passively invest in real estate!
[31:07] – Danny’s parting piece of guidance
Financial freedom and financial responsibility are your own ownership. Do not rely on other people to be responsible for it.Make a change today that can benefit you and your family for generations to come.