Killing Sacred Cows Blog

By Chris Miles  

This is an essay I recently wrote about independence which I feel pertains to our discussion of overcoming myths and becoming financially free.

Could independence be no more than freedom from oppression and domination? Conversely, is independence merely unobstructed freedom to do anything we desire with no fear of intentional or unintentional consequences? Absolutely not! The more freedom we expect, the more responsibility we inescapably accept.

Today, we see a pandemic paradigm governing humans to blame anyone when things go awry. Thomas Jefferson proclaimed, "Timid men prefer the calm of despotism to the tempestuous sea of liberty." Why do we shrilly scream for independence and utter whining whispers at the first sight of responsibility?

To many, independence means to be "in dependence." They fancy others slavishly sowing so they can slothfully reap. They "fight" for freedom, but ultimately, beg for bondage. They want what has never existed - freedom from consequence. Indisputable independence is the freedom to pioneer one's path and be accountable for the destination.

My challenge is to consider what areas of our life and finances are we not taking on responsibility. Are we blaming market events, investors, financial institutions, oil companies, politicians, etc for our problems rather than creating solutions? Why can we see so clearly others' errors which are somtimes trivial and are so blind to our own destructive faults? What possibilities would arise if we focused the energy we waste complaining and repeatedly pointing out others' mistakes towards production and creating greater happiness and financial freedom through discovering soul purpose? What blessings are we failing to see because we focus more time and energy on the lack thereof? I challenge each of us to objectively ponder these questions, journal our responses, and identify ways to further focus on our financial independence.

By Chris Miles

One of my clients recently asked me a question regarding whether or not someone needed passive income to truly be financially free. I believe that many of those striving for financial excellence have asked this same question and debated it.

In response to this question, I would ask "What is passive income to you?" How you define passive income will determine whether or not it can really exist and sustain itself.

Passive = No Direct Value Creation

Many believe passive income to be earning income on investments without having to do anything to earn it. Or, in other words, provide little or no value to receive a lot of value. However, if one owns a rental property and gets paid rent, is that really "passive?" Did you really do nothing for it? If you do nothing, will the income last?

Consider having a business as another example. If you provide tremendous value in a business for months, or even years, so that you create conditions to make money while you sleep, was that a passive event, or were you active in creating it? Do you still have to maintain it?

Do you think Garrett Gunderson put minimal time or value into Killing Sacred Cows to help it sell? If he decided to put little effort and time into it by cutting corners and using no research, what kind of "passive" income do you think he would receive from book sales?

On the other hand, if passive income means working smarter and leveraging your abilities, passions, and talents (Soul Purpose), and others' as well, could that kind of income continue for a longer period of time?

The Law of the Harvest

We violate the Law of the Harvest (sowing and reaping) when we believe that we somehow can reap where we have not sown. If one ever feels that they are getting paid to provide little to no value, that income will not likely last. As a result, it becomes a state of bondage due to uncertainty of the returns rather than financial freedom.

When I have had income streams in the past where I was not certain why I was receiving so much income for providing little or no value, the passive income never lasted longer than a few years. The only income streams I have been able to count on are the ones where I have significant control and contribution.

Some may consider maintaining control and applying one's human life value bondage, but is it really? Who is paid more -- one who provides value for others in a way that few can or one that gets paid doing virtually nothing and has a difficult time understanding why they get paid so handsomely?

With regards to passive income creating freedom, did our Founding Fathers say, "Once we are ‘out of the rat race' then we will begin to fight for freedom?" They declared their independence when they were still subject to King George's rule.

What is Financial Freedom?

Is freedom a state of having or a state of being? Could one ever have enough money to buy freedom? Can freedom be purchased with money? Is it possible that many that have passive income could be slaves to doing investments or businesses that they do not enjoy? If you do real estate investing only to make money, how is that different than a job? Would you call doing an investment or business only for money "freedom?" If that were the case, couldn't one work a typical full-time job and still be free?

I do not believe that living financially free can be purchased. The only ones I have met that believe this theory are the ones that have never had money. I have had times where I have felt more enslaved with more money than living paycheck to paycheck.

Granted, our minds can be put at ease if we are wise stewards with our resources. We may choose to create conditions that cause more stress and worry, such as living on more than we have means. However, the only way to have financial freedom is to live a life of based on purpose, not a life based on our pocket books.

Freedom is a state of being, not a state of your account balance.

I challenge each of us to put money in the proper perspective as a tool to be used to serve others through our soul purpose rather than money being a master that will command us when we will be free.

“I know of no more encouraging fact than the unquestionable ability of man to elevate his life by conscious endeavor.” -Henry David Thoreau

In our last post we defined consumers and producers and made clear that the one choice to become a producer is the single most important factor in determining your prosperity.

Booker T. Washington was an extraordinary producer from whom we can learn many valuable lessons. He was born a slave in Virginia, was freed after the Civil War, then set out to become educated. He arrived at the Hampton Institute determined to gain admittance. This story is a perfect illustration of how a producer approaches life and its challenges.

In his autobiography he wrote, “I presented myself before the head teacher…After some hours had passed, the [she] said to me: ‘The adjoining recitation-room needs sweeping. Take the broom and sweep it.’ It occurred to me at once that here was my chance…I swept the recitation-room three times. Then I got a dusting-cloth and I dusted it four times. All the woodwork around the walls, every bench, table, and desk, I went over four times with my dusting-cloth.

"Besides, every piece of furniture had been moved and every closet and corner in the room had been thoroughly cleaned. I had the feeling that in a large measure my future depended upon the impression I made upon the teacher in the cleaning of that room.

"When I was through, I reported to the head teacher…She went into the room and inspected…When she was unable to find one bit of dirt on the floor, or a particle of dust on any of the furniture, she quietly remarked, ‘I guess you will do to enter this institution.’

"I was one of the happiest souls on earth. The sweeping of that room was my college examination, and never did any youth pass an examination for entrance into Harvard or Yale that gave him more genuine satisfaction. I have passed several examinations since then, but I have always felt that this was the best one I ever passed.”

What challenges do you face in your life? Are you approaching them as a consumer, or as a producer? As a victim, or as a hero?

“The difference between a warrior and an ordinary man is that a warrior sees everything as a challenge, while an ordinary man sees everything as either a blessing or a curse.” � -Carlos Castaneda

Being a producer means finding ways to become empowered when you feel that your options are limited. It means finding a way to succeed when everyone around you sees nothing but defeat and discouragement. It means possessing and enduring and vibrant belief that everything will always work out as long as you are committed to creating as much value for others as possible.

Follow the example of Booker T. Washington in every aspect of your life. No matter what you're currently facing, approach it with a mindset of determination and a desire to serve others. An abundance of opportunity and wealth exists for those willing to persevere in spite of obstacles and criticism.

Click Here to See the Building Walkthrough Garrett Mentions in the Video

“A person can have many talents and gifts and do many things exceptionally well, but your vein of gold, ah...That is the thing you do superbly.”     -Julia Cameron  

America's earliest citizens believed in an ideal that they called Providence, which is something that has been largely forgotten today. To believe in Providence means two things: 1) You believe in a Creator that governs, and 2) You believe that you were born with a unique mission that you alone can perform, and that the world suffers if you don’t fulfill your mission.

Providence is having a relationship with your God that gives you the faith and motivation to fulfill your unique mission regardless of the consequences.
Another way to say Providence is “Soul Purpose.” Soul Purpose is your unique set of talents, abilities, and passions applied productively and effectively, making tremendous impact upon the world and bringing the highest levels of joy and fulfillment for you and everyone you touch. It’s the mission that you were born for; it’s what you would do every day even if you didn’t get paid for it. When you’ve truly found your Soul Purpose, you create so much value for others that you’re almost inevitably paid very well indeed.

How do you know if you are living Providence and Soul Pupose? A good indication of that is if you can't wait to jump out of bed and begin every day with excitement and purpose. If you find yourself dreading going to work you know that something must change.

The best thing you can do for yourself and for society is to find and develop your passion--to revive the spirit of Providence in your own life and live your Soul Purpose.

Recommended Resources to Help You Find Your Soul Purpose:

Kolbe A Index

Strengthsfinder

Enneagram Institute

Does the science of economics have real application in your life, or does it seem like a topic reserved for college professors and "experts?"

The word economics comes from the Greek words oikos (pronounced ee kos) meaning home or house, and nomos, meaning name, organization, or management. To the Greeks, an "oikonomos" is a manager of a home. Economics isn't about charts, graphs, interest rates, and index funds. It's about what you do on a daily basis to create a profitable, thriving, and sustainable home life. It's about learning to create value for your family. An oikonomos is a producer in his or her own home before and above all else.

The science of economics, then, is much closer to home that you may have thought. Be a wise and productive steward of your home and that will be reflected in society. Be the economist in your life.