Financial Freedom – Clayton Morris

Thriving Launch by Kamala Chambers and Luis Congdon Financial Freedom - Clayton Morris
00:00:00 00:00:00

financial freedom

Summary-icon

SUMMARY


What does financial freedom mean and how can we achieve it?

Clayton Morris, a news anchor on Fox & Friends on Fox News Channel and a real estate investor, says that you don’t need to be a millionaire to achieve financial freedom. As long as your passive income can cover all your monthly expenses, then you can have financial freedom.

In this episode, Clayton shares his belief that human beings are event horizons who either allow or stop the manifestation of money. If we choose to allow for it, things will start to show up in our lives.

key-takeaways-icon

KEY TAKEAWAYS


arrow-iconFinancial Freedom is having all of your monthly expenses covered by your passive income.

arrow-iconMoney is a human creation. Welcoming more of it into your life is a manifestation.

arrow-iconWhen you put out in the universe that you’re going to create financial freedom, you start to put steps and goals in place, and things start to show up in your life.

arrow-iconThings are going to start to show up if you allow for it. If you start shutting your brain down, then you’re going only to live a mediocre life.

arrow-iconStick with one course of action.

arrow-iconOnce you stop shiny object syndrome in your life, you will achieve success.

Summary-icon

TRANSCRIPTION: FINANCIAL FREEDOM – CLAYTON MORRIS


kamala-head

Kamala Chambers

On this episode, we’re going to be talking with News Anchor Clayton Morris about creating financial freedom.

Today, we are here with News Anchor on America’s number one morning show Fox & Friends on The Fox News Channel, Clayton Morris. He’s also a real estate investor, and he helps people create passive income and financial freedom. He also has a podcast you can check out investing in real estate.

luis-head

Luis Congdon

All right, Thriving Launchers, financial freedom, what does it even mean? Let’s talk about it.

Clayton, welcome to the show. Are you ready to launch?

Clayton Morris

I am ready, guys.

luis-head

Luis Congdon

Here we are, Kamala and I, and I assume you, and most of our listeners are in a first world country. We’re in The United States. We have all these privileges, and yet, we hardly ever talk about this subject of financial freedom. What does it even mean?

How many of us are even taking the time to consider that we can even have such a thing as financial freedom? It’s because we don’t usually put that word “freedom” and “finances” together. It’s like “debt” and “taxes.” But they’re two words that should go together.

What does that even mean? What does financial freedom mean, Clayton?

How The Financial Freedom Concept Was Born

Clayton Morris

It was born from me out of a minute as the thing that changed my life when I came up with this concept.

I was born out of tears. My wife was coming down to the basement in my home office a few years ago, saying, “We can’t pay the mortgage.” And here I was, a network news anchor. I was like, “What are we doing wrong where we have not been able to have passive income, cash flow coming in that would cover our monthly expenses?”

At that point, I owned two rental properties, but I didn’t fully wrap my head around the idea of financial freedom. My wife said, “We can’t pay the mortgage,” and I said, “What are you talking about?” She said, “We can’t.” We had to go through my closet and find old DVDs and electronics to just sell on Craigslist to pay our mortgage, and we managed to buy a few dollars.

Financial Freedom Number

Clayton Morris

I said, “Something’s got to change. I don’t get it.” and I said, “Wait a second.” I jumped up onto my whiteboard in my office, and I said, “We have these two rental properties that we bought a few years ago in the Midwest. Rehab them, got them cash flowing. They have a high return.

How many rental properties would it take to cover our monthly expenses? If each of them was cash flowing $800 a month, how many of those $800 a month houses would it take for us to cover our $5,000 a month and monthly expenses? Or $7,000 a month and monthly fees?”

That’s where the Freedom Number was born. I just teach people how to reverse engineer that, but it all comes down to this. When you ask people, “How much money do you want to make?” People say, “I want to be a millionaire!” I think it’s total garbage because it’s such an arbitrary number that it means nothing.

What Financial Freedom Means

Clayton Morris Financial Freedom Thriving Launch Podcast

Clayton Morris

Forget a million bucks. It might even be as small as $3,000 a month, and that’s what financial freedom is.

We’ve worked with investors through my company where I’ll ask them when we get on the phone, “What is your freedom number?” They’ll say, “Six houses,” which means $3,000 a month in passive income. I say, “What? That’s all you need to live?” He said, “Yeah. I’m a single guy. I don’t have kids so yeah, that’s all I would need for to be financially free.” I’m just like, “Wow. Try doing that with three kids living in New Jersey where we have high taxes and high expenses.”

Freedom Number Varies For Each Person

Clayton Morris

That number is going to be different for every person. That’s why you need to sit down and get honest with yourself and figure it out, but that is what financial freedom is all about.

kamala-head

Kamala Chambers

When you’re talking about your monthly expenses, this is the things you need to live off, right?

Clayton Morris

Yeah.

I teach people how to do this on our cheat sheet that we give away, and it is three pages.

Knowing Your Financial Freedom Number

Clayton Morris

I encourage you to sit down with your spouse or partner and go through it. Get honest when you grab a glass of wine, it might be a little painful. Sit down, open up your computer, grab a notepad, and you’re going to add up six months of your monthly expenses.

What you’re going to do is find the average of those six months. You’re going to remove the holidays because it’s always a little wacky during the holidays. Take from February through the summer, and what are your monthly expenses look like? That includes Your Netflix subscription, your coffee habit, your mortgage, your kid’s school, Karate lesson or whatever it is, and then put it by 10%.

To Have Financial Freedom, Be Honest With Yourself

Clayton Morris

So if you want to take a trip or those types of entertainment, that extra night out with your spouse, put it by 10% and then divide it by 6. We want to find the average of those months. Is it $5,000? Is it 6,300? Be honest with yourself.

Until you put it all down on paper, you’re never going to know you spent $200/month on gas. We have all these random subscriptions to Netflix, Hulu, Amazon Prime, and all these things that add up. You can begin even to cut some fat, but also take stock of what you have to pay.

kamala-head

Kamala Chambers

Yeah, I think those monthly subscriptions, especially running an online business, that’s something I always try to encourage people to cut down on your monthly subscriptions because they can add up, even that $5-$50/month.

Clayton Morris

Right.

Cut Down On Your Subscriptions To Have Financial Freedom

Clayton Morris

And you don’t think about them. A lot of times, they’re automatic. Mostly, they’re automatic. They might be in your iTunes subscription. You might have a subscription via iTunes to lynda.com or Texture, which is like a magazine company, which I love.

If you’re not reading these magazines on your iPod, then why are you spending 7.99 a month on these things?

luis-head

Luis Congdon

One of the questions I have for you is something I’m even asking you the Thriving Launchers. Do you think that financial freedom is possible for you? Do you think it’s possible for the people around you? Have you taken the time to consider that? And how do you even begin to have that conversation with yourself, Clayton?

Different Messages About Money And Financial Freedom

luis-head

Luis Congdon

A lot of us have many bills. We’re maybe living paycheck to paycheck, or we’ve grown up where messages around money are, “Money doesn’t grow on trees.” “Where do you think money comes from? I’ve worked hard for it.” We just don’t have enough money for that.”

We’ve grown up with so many messages around money, and now, we’re talking about this idea that you can be affluent, be cash positive, and have enough income passively coming. I would imagine just changing people’s mindset around that is one of the biggest first hurdles people have.

Clayton Morris

My wife and I like to talk about money are not real. It’s a manifestation.

Manifest Money To Have Financial Freedom

Clayton Morris Financial Freedom Thriving Launch Podcast

Clayton Morris

If you think about it at the end of the day, money is a human creation. Welcoming more of it into your life is a manifestation.

If you believe that you are only worth $80,000 a year, do you think you’re going to earn 90,000? You’re going to hit 80,000 continually. At the end of the year, that’s all you’re going to achieve if you every day believe you, as a human are only worth 80,000. Or, your revenue from your company this year is only this value, guess what? That’s all you’re going hit.

Constantly Think That You’ll Have Financial Freedom

Clayton Morris

What you think about regularly becomes real. I know it sounds like such a cliché. We now know what the quantum level that this is true. We have the data. We have the science behind it.

I would encourage all of your listeners to watch an incredible documentary that’ll just blow your mind called Black Whole. The scientists were able to look at the quantum level that you as a human being are the event horizon.

Human Beings As The Event Horizon To Financial Freedom

Clayton Morris

There’s infinity out there and within you, and you as the human being are that road block. You have the opportunity to either be encouraging all kinds of wealth consciousness bringing incredible people into your life that are going to help you achieve great things or you can be the brick wall that stops creation and manifestation of money.

I grew up with all of those things you just talked about. I grew up with my parents telling me “Money doesn’t grow on trees. We’re not the Rockefellers. We can’t afford that. We can’t go and do that. Oh, look at them. They can do it but we can’t.”

Journaling And Meditation Helps You Achieve Financial Freedom

Clayton Morris

I had many years of having to overcome the difficult meme from my parents, and I started by just journaling every day, and in my meditations, seeing it as true.

One thing that was a powerful tool for me to understand is, when you go to a restaurant, and you place an order with the waiter or a waitress, you expect the food to show up, and you go back to having your conversation with the people that you’re tabled. You just know that food is going to come in a few minutes at most. That’s the way most people should be thinking about wealth.

If you put that out in the universe that you are going to build this company, you’re going to achieve two million dollars a year in revenue; you’re going to achieve financial freedom, guess what happens? You start to put steps and goals in place. You start going to local real estate meetings talking with other investors, shaking hands, going out to coffee, and guess what? Things start to show up in your life.

Believe You Can Achieve Financial Freedom

Clayton Morris

A book will show up, recommendations will pop-up in your YouTube feed when you’re least expecting, and a video on financial freedom.

Things are going to start to show up if you want to allow for it. If you start shutting your brain down, you’re going only to live a mediocre life.

You’re going to start to surround yourself with mediocre people. You’re going to look for negative things out there, “It was me.” “It’s the president.” “It’s the economy.” “I can’t become wealthy.” It’s all of these outside factors.

The truth is, and I believe this.

The Power To Have Financial Freedom

Clayton Morris Financial Freedom Thriving Launch Podcast

luis-head

Luis Congdon

That’s completely spot on. Here at Thriving Launch, we love that belief system.

Kamala and I, Thriving Launchers, maybe you already know, is we have very spiritual mothers who are a little bit more on the end of just taking that belief system perhaps a bit too extreme, and not taking some action behind the fate.

To Have Financial Freedom, Follow Through With Faith

luis-head

Luis Congdon

We always love it, Clayton when we have people like you on the show where it is that perfect balance of you taking action. You’ve also followed through with faith, you’ve meditated on it, but you also trust it that now, you can go out into the world that’s going to open doors for you, support you, and help you.

kamala-head

Kamala Chambers

Before we close, are there any last gems you want to leave the Thriving Launchers with?

Clayton Morris

My company, Morris Invest, I’ve worked with a lot of investors who had some money in the bank, didn’t know how they could get started whether it’s investing in real estate or creating a legacy wealth for their families. They thought, “I can’t do this. I’m not worthy of this. I don’t know enough about it.” The fact of the matter is I don’t either. You’re never going to know everything.

You want to spend five years in analysis paralysis mode, never taking action, never making that phone call, never booking a call with that team that’s going to help you achieve financial freedom.

Putting Your Faith In People Around You To Achieve Financial Freedom

Clayton Morris

At least, start having those conversations. I see it with my five-year old little girl and my seven-year old boy. I like, “Come on Ava, come on.” and she’ll say “No, no, no.” Then, she’ll watch sort of other people taking action and do it, and she’ll go and do it.

You just sometimes need that little nudge, and you need to put your faith in those around you that if this person has achieved financial freedom, they might be onto something. They might have already figured something out so why try to reinvent the wheel? Follow in the footsteps of other people who have done it, don’t try to reinvent the wheel, and follow one course of action.

Following One Course Of Action To Have Financial Freedom

Clayton Morris

I see so many investors or entrepreneurs, who start down a path, and they’re achieving success, or they’re about to, or they’re putting one foot in front of the other. They’re not millionaires yet, but they’re putting these beautiful building blocks in place, and then they stop. They go in another direction.

Anytime you go on an entirely another direction, you’re creating a new business for yourself. You’re creating a whole new job for yourself, and you’re chasing shiny object syndrome.

Clayton Morris Financial Freedom Thriving Launch Podcast

Shiny Object Syndrome Stops You From Having Financial Freedom

Clayton Morris

That’s been my greatest success. Once I stopped shiny object syndrome in my life, I finally achieved success. It was like literally overnight, but it took 20 years to do.

luis-head

Luis Congdon

Overnight success is 20 years’ worth of work.

Thriving Launchers, one of the things I’m walking away with from today, it’s something of my own life, is I’ve been a massive action taker. It’s something I believe in taking action a lot.

Re-Strengthening The Faith To Have Financial Freedom

luis-head

Luis Congdon

But I will tell you something that I need to go back into just a little bit more is kind of re-strengthening that faith, re-strengthening that time in meditation or just consideration, journaling, imagining, and realizing that is also a powerful force and creative energies. It’s something that sometimes, in the doing, I lose sight of and yet, makes my doing a little bit harder than it needs to. That’s my takeaway.

I hope you guys have taken a moment, gotten some awesome nuggets, some takeaway from today’s episode.

Financial Freedom Is Possible

luis-head

Luis Congdon

Financial freedom, meaning having passive income that affords you the life you want is possible, and it’s completely available, and there are other people already doing it, so you don’t have to reinvent the wheel.

You can go to Thriving Launch. You can listen to this episode, and you can follow up with Clayton. You can listen to his podcast, his blog. People are out there. Everybody wants to help you, and the resources are out there.

Keep thriving you all.

Thriving Launch by Kamala Chambers and Luis Congdon Financial Freedom - Clayton Morris
00:00:00 00:00:00
Start a Podcast From ZERO That 5x’s Your Following and Attracts New Customers! -
GET THE WORKBOOK FOR FREE


Start a Podcast From ZERO That 5x’s Your Following and Attracts New Customers! - Get The Free Workbook For FREE

You have Successfully Subscribed!