Episode 13: All 7 Sources of Residual Income: How it's Done
Audio is streamed directly from the publisher (redirect.zencastr.com) as published in their RSS feed. Play Podcasts does not host this file. Rights-holders can request removal through the copyright & takedown page.
Show Notes
Ready for a masterclass in managing the 7 sources of residual income? It’s not like today’s guest makes it look easy – but he definitely shows us how it is possible. And how you can have some fun along the way! Between real estate, owning a business, and even running a music festival – it is never a dull moment.
On this episode of the Uncommon Life Project Podcast, hosts Phillip Ramsey and Bryan Dewhurst talk with Courtney Wooge.
Courtney is a second generation owner of FCIS Insurance. He is also one of the founders of the Tree Town music festival – the premier country music festival in the Midwest – in Forest City, Iowa.
Get ready for a fascinating, wide-ranging conversation. Building wealth for you, the next generation, and where giving back is not a sprint, which makes Courtney a great coach in running a marathon.
What you’ll learn about in this episode:
- How it’s possible to have a hand in all 7 sources of residual income
- Diversify, diversify, diversify
- Why income property can be a great source of cash flow – and a lot of hard work
- The tax benefits and long-term wealth benefits of owning property
- Something completely different – fun and profit in running a music festival
- How to take calculated risks in service of your cash flow
- Setting up for success as a 2nd or 3rd generation business owner
- The mental shifts needed to move from managing yourself to managing a company
- Taking responsibility as an owner
- Using your cash position to leverage the interest on that cash