How to Turn Active Income into Passive Income Using the Passive Income Operating System

Becoming financially free does not have to be difficult. But it is! It is complicated because we constantly get distracted by many things in our busy lives. We don't know what to do, and we don't have time to figure it out. But what if someone can show you how to install a system to put your finances on autopilot?

In this episode, Russ and Joey explain the Passive Income Operating System to teach people how to automate their financial system while they go on living their busy lives. If you want to learn how to do it, this episode will show you the way.

Top 3 Things You’ll Learn:
The importance of installing the Passive Income Operating System
Why you must not co-mingle your personal and business accounts
How to properly set up your financial system, so it works on autopilot

Turn Active Income Into Passive Income:
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01:10 - What stops us from building a financial system?
08:34 - What is PIOS?
10:40 - What's going through your brain when you get your paycheck, business distribution, or maybe your bonus? What are the things that start going through your mind?
11:57 - How often have you sat down at your desk or your bedside table, wherever you keep your bills, then thought about whether or not you have paid your bills or have extra money to invest? How many times have you done this?
16:54 - Is not having passive income a result of not having the right investments or not being able to invest enough?
23:31 - Have you ever heard of the term spatial disorientation?
23:54 - So, what's the solution?
26:03 - What does an income account do for somebody?
33:28 - What is Infinite Banking?
41:12 - Imagine you have a million dollars on your line of credit and have borrowed half a million dollars for multiple things. What happens to your balance when you make that $20k payment on the line of credit?
41:29 - I have a premium due for one of my many life insurance policies. Where do I get the payment?
41:36 - What happens if I need to make an investment? Where is that cash going to come from?
42:04 - When the investment entity you invested with asks where you want your money returned, what will you tell them?
42:20 - What happens when the tax bill comes up?
42:36 - What's the benefit of paying taxes later?
44:04 - Will this really change anything, or is it just moving money around?
44:29 - Do I need expensive tax attorneys and CPAs to implement it? Is this going to be a constant thing? Am I going to spend hours and hours of my life managing this thing?

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www.wealthwithoutwallstreet.com/podcast/how-to-turn-active-income-into-passive-income-using-the-passive-income-operating-system-with-joey-mure-and-russ-morgan

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