June 23, 2022
Joe Fairless

JF2851: How to STOP Exchanging Time for Money | Actively Passive Investing Show ft. Travis Watts


“While we wait for life, life passes.” —Seneca

 

While we are constantly seeking more money and more freedom, it’s important to determine how much you want or need to avoid falling into the trap of trading away all of your most important, finite resource — your time. In this episode, Travis shares how passive investing can help you stop exchanging your time for money. 

 

1. Put a System into Place

“If you don’t put a system into place, then you inevitably end up chasing things that bring you short-term money, short-term dopamine hits, but in the long run, they lead to unhappiness at an older age,” Travis says. Happiness comes from spending time, effort, and energy on things that you love and enjoy, which passive income can allow you to do. 

For Travis, that meant earning enough income as a W-2 employee in a job he didn’t enjoy in order to save up enough money to passively invest. By creating a system and a plan to generate passive income, he was able to achieve his goal of quitting his W-2 job and spending more time on things he enjoyed.

 

“Creative people say yes until they have enough work that they can say no.” —Austin Kleon

 

2. Become a Stoic

An investor, in Travis’s opinion, is a stoic, or someone who postpones present pleasure for a greater return in the future. While he was saving up to passively invest, he gave up modern luxuries by sleeping on an air mattress, strictly budgeting his meal expenses, driving older cars, and buying his clothes at secondhand stores. In the end, this mindset helped him to reach his financial goals. 

 

3. Outsource Tasks You Don’t Enjoy

By building a passive income stream, you can outsource the parts of life that bring you unhappiness and spend more time focusing on what matters to you. If you can’t stand cleaning your house, for example, you can follow a plan that allows you to create enough passive income to pay someone to clean it for you. The system you create should ultimately allow you to live your fullest and best life. 

 

 

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