#326: Create Financial Freedom through Pseudo-Passive Income

<p dir="ltr"><strong>OVERVIEW:</strong></p> <p dir="ltr">Jason A. Duprat, Entrepreneur, Healthcare Practitioner, and Host of the Healthcare Entrepreneur Academy 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.   </p> <p dir="ltr"> </p> <p dir="ltr"><strong>EPISODE HIGHLIGHTS:</strong></p> <ul> <li dir="ltr" aria-level="1"> <p dir="ltr" role="presentation">There’s no such thing as passive income because you always need to do initial legwork and research. Jason prefers to call it pseudo-passive income and has identified three methods for this type of income to become financially free. </p> <ul> <li dir="ltr" aria-level="1"> <p dir="ltr" role="presentation">One method is to decrease expenses. There are several experts on YouTube talking about how best to do this, many in the homestead space. This method also includes penny-pinching, clipping coupons, or searching for the best deals. This can be referred to as living a scarcity lifestyle. </p> </li> <li dir="ltr" aria-level="1"> <p dir="ltr" role="presentation">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. </p> </li> <li dir="ltr" aria-level="1"> <p dir="ltr" role="presentation">The third method is a hybrid model. It includes getting rid of bad debt and keeping your expenses reasonable while also increasing income.</p> </li> </ul> </li> <li dir="ltr" aria-level="1"> <p dir="ltr" role="presentation">If you’re a budding entrepreneur, it’s better to build a new business from scratch rather than buy one and leverage its debt. When you build a business, you develop the necessary skills required to be an owner and generate cash flow.</p> </li> <li dir="ltr" aria-level="1">