Okay,” you’re thinking, “the 5 Day Weekend sounds fantastic. But how do I actually do it?” Here’s how:
“Rome wasn’t built in a day,” so the old saying goes. Well, neither will your 5 Day Weekend be built in a day. When you’re building anything, there’s a process to follow. It is important to see the big picture and how each part interacts with the whole.
In the book The 5 Day Weekend, authors Nik Halik and Garret Gunderson give you a plan shifts your income sources from active to passive. It consists of the following five steps:
The foundation step is putting your house in order. It’s looking at your existing resources and maximizing their efficiency before focusing on developing more resources. You reclaim dollars that are currently being drained from your finances using our cash flow-recovery method. This enables you to then utilize those freed-up funds for investing.
First and foremost, you have to stop the leaks in your financial bucket and keep more of what you earn. We find that more than 10 percent of most people’s income is being lost to Uncle Sam, big banks, and Wall Street. Reclaiming the cash lost to these sources gives you an immediate cash flow increase without spending more time or changing any of your habits.
The focus on this step is to increase your income as much as possible so you have cash with which to invest. Entrepreneurial income is income you earn outside of a job. Ideally, it is generated even if you’re not physically present. However, it may be more active income in your early stages.
You’ve heard the common phrase, “It takes money to make money.” This is patently untrue.
Anyone can start right now with no money and create a way to make money.
However, what is true is that it takes money to invest. And the more you have to invest, the faster you can develop passive sources of income. Therefore, the next step is to increase your cash flow by engaging in entrepreneurial ventures. These can be done on a part-time basis, and many can be done without spending much time at all by simply leveraging your existing assets.
This step is about wealth creation. Now the focus is on shifting your active income to passive income as quickly, safely, and efficiently as possible. You’ll use your cash flow to invest in projects that will continually generate cash flow for you over time.
There are two types of investments: Growth and Momentum. Growth investments are safe, conservative, and cash-flowing. Momentum investments, on the other hand, are more speculative but offer higher upside potential. In these more aggressive investments, you remove all emotion from the equation because they are funded by your Growth investments, rather than your earned income. When successful, these investments pay out in large lump sums, and the proceeds are used to fuel more cash-flowing investments.
The payoff of a 5 Day Weekend is a lifestyle of freedom. But be- fore enjoying the payoff, you must pay the price. Achieving your 5 Day Weekend requires that you conquer adversity, overcome your weaknesses, leverage your gifts, and become your best self. This is done through four key disciplines: strengthening your mindset, building your inner circle, fortifying your habits, and amplifying your energy.
With enough passive income streams in place, your investments can now fund and service your lifestyle and freedom. This may mean buying an expensive car or a luxurious villa overseas, or enjoying unforgettable getaways to the most exotic regions of the world. It may be spending more time with your favorite charity or underwriting an important cause.
See how others have succeeded in adding 3 more days to their weekend.