In this episode of “Beyond the Paycheck,” Paula Christine dives deep into the topic of passive income with her guest, Joey Muré from Wealth Without Wall Street. Joey shares his journey, starting in the mortgage business and making a significant income but realizing that increased income didn’t equate to freedom. He mentions the importance of understanding the difference between active and passive income and the impact it can have on spending time with family.

Paula and Joey talk about the significance of setting clear financial goals, emphasizing that everyone’s financial goals are unique based on their current expenses. We touch upon the idea that financial freedom is achieved when passive income exceeds monthly expenses. Paula relates this concept to her own experiences as a business owner and the balance between work and family life.

Joey explains the GPS model, which stands for Goal, Plan, and Support, as the key to achieving financial freedom. He highlights that having a clear vision of what life will look like when financial freedom is achieved is crucial. Understanding the importance of a well-thought-out plan and the role of a like-minded community in providing support is key.

Paula underscores the importance of having a structured process to develop passive income, and Joey mentions an upcoming book that will provide more detailed guidance on this subject. He also directs listeners to resources on their website, including an investor DNA profile assessment and the opportunity to talk to one of their coaches.

Joey has an exclusive website for listeners of Beyond the Paycheck. To get access to the DNA profile and a free 15 minute chat with one of their coaches, visit: wealthwithoutwallstreet.com/beyondthepaycheck

If you would like to contact Paula, you can reach her at paula@paulachristine.com or visit her website at paulachristine.com.