#226: Tactical Tuesday: Create Financial Freedom through Pseudo Passive Income

<p><strong>OVERVIEW:</strong></p> <p><span style="font-weight: 400;">Jason A. Duprat, Entrepreneur, Healthcare Practitioner, and Host of the</span> <em><span style= "font-weight: 400;">Healthcare Entrepreneur Academy</span></em> <span style="font-weight: 400;">podcast talks about creating a roadmap to becoming financially free through pseudo passive income. He weighs in on three methods to do this. He also presents the advantages of owning a business - especially a medical practice - as one of the most effective methods for achieving financial gains using pseudo passive income.   </span></p> <p><strong>EPISODE HIGHLIGHTS:</strong></p> <ul> <li><span style="font-weight: 400;">There’s no such thing as passive income because you always need to do initial legwork and research.</span></li> <li><span style="font-weight: 400;">Jason prefers to call it pseudo passive income and has identified three methods to this type of income to become financially free. </span></li> <li><span style="font-weight: 400;">One method is to decrease expenses. There are several experts on YouTube talking about how best to do this, many in the homestead space. </span></li> <li><span style="font-weight: 400;">This method also includes penny-pinching and clipping coupons or searching for the best deals. This can be referred to as living a scarcity lifestyle. </span></li> <li><span style="font-weight: 400;">The second method is to increase your income by starting new businesses and building new revenue-generating streams. This is often referred to as choosing an abundant lifestyle. </span></li> <li><span style="font-weight: 400;">The third method is a hybrid model. It includes getting rid of bad debt and keeping your expenses reasonable while also increasing income.</span></li> <li><span style="font-weight: 400;">If you’re a budding entrepreneur, it’s better to build a new business from scratch rather than buy one and leverage its debt. </span></li> <li><span style="font-weight: 400;">When you build a business, you develop the necessary skills r