Add 3 More Days to Your Weekend with 5 Easy Steps!

In the book The 5 Day Weekend, authors Nik Halik and Garret Gunderson give you a plan that shifts your income sources from active to passive. It consists of the following Five Steps:

  • Step 1 – The Foundation – Keep More Money
  • Step 2 – Income Growth – Make More Money
  • Step 3 – Wealth Creation- Grow More Money
  • Step 4 – The Journey – Power Up!
  • Step 5 – Freedom Lifestyle – Live Your Purpose
Step 1 – The Foundation – Keep More Money

This foundational step is about 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.

Step 2 – Income Growth – Make More Money

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.

Step 3 – Wealth Creation- Grow More Money

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.

In the 5 Day Weekend process, you also move away from conventional retirement plans and instead employ cash flow–optimized investments that are safer, more profitable, and that give you greater control. You create your own economy and your own stimulus plan. You move away from investments used by the middle class and instead use strategies that are normally reserved for the ultra-wealthy.

Step 4 – The Journey – Power Up!

The payoff of a 5 Day Weekend is a lifestyle of freedom. But before 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.

When most people start out, most if not all of their income is active. To shift to more passive income streams, resources are required to invest. You start by creating as much discretionary, investable income as possible from your existing resources. Next, you start side projects to increase your income.

Once you’ve put enough money together, you start investing. You start by investing in yourself. If you have less than $5,000, invest in yourself by seeking mentoring, taking courses, and reading books. As your knowledge increases, you’ll be surprised by the investment opportunities that arise for you.

Once you start investing, your investments build over time, thus shifting your income from active to passive. Depending on your starting point and how aggressive and effective you are with the process, within five to ten years the majority of your income should be passive, and you’ll be able to work two days and enjoy five days of weekend each week.

Step 5 – Freedom Lifestyle – Live Your Purpose

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.

The possibilities are endless.

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