488. Building a Financial Foundation for Empowerment with Whitney Elkins-Hutten
Release Date: 04/25/2024
Passive Income Unlocked
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info_outlineHow can you break free from the traditional 9-to-5 grind and create a life that allows you to prioritize what truly matters?
In this segment of Mindset Shorts, Suja welcomes back Whitney Elkins Hutton to discuss her journey towards achieving financial and time freedom. Whitney shares her personal experiences and the turning points that led her to realize the importance of being present for her family and having the flexibility to make choices that align with her values. Throughout the conversation, they explore the concept of the five freedoms - financial, time, choice, location, and impact - and how building a solid financial foundation can unlock these freedoms. Whitney emphasizes that while the journey may not be overnight, with determination and the right strategies, it is possible to break free from the traditional 9-to-5 and create a life on your own terms.
Whitney Elkins-Hutten is the Director of Investor Education at PassiveInvesting.com, Founder of AshWealth.com, author of Money for Tomorrow: How to Build and Protect Generational Wealth published with BiggerPockets, co-author of the international #1 bestseller Resilient Women in Life and Business, host of the Passive Investing Made Simple YouTube show and podcasts, and a partner in $800MM+ in real estate — including over 6500+ residential units, 15 express car washes, and more than 2200+ self-storage units across 11 states—and experience flipping over $5MM in residential real estate.
(00:00:00 - 00:02:00) The Turning Point: Whitney's Father's Health Crisis
- Whitney shares how her father's health crisis in 2002-2003 was a turning point in her journey towards time and financial freedom
- She realized the importance of being there for her family during tough times
- This experience made her question the traditional work structure and its limitations
(00:02:00 - 00:04:00) Scaling Up and Facing Layoffs
- As Whitney's daughter was born, she sought more flexibility in her schedule and began investing in real estate
- In 2017, her department faced layoffs, and she was eventually served a pink slip after dedicating long hours to the company
- This experience further solidified her desire to create a life with more control over her time
(00:04:00 - 00:06:00) Tasting Freedom and Never Looking Back
- After being laid off, Whitney took an extended camping trip with her family and realized the power of saying "no" to immediate job offers
- She discovered the empowerment that comes with having the financial foundation to make choices that prioritize her family and well-being
- Once she experienced this freedom, she knew she could never go back to the traditional work structure
(00:06:00 - 00:08:00) Building a Financial Foundation for Empowerment
- Whitney emphasizes that while she didn't have a substantial passive income at the time, her financial foundation allowed her to say "no" for a period of time
- She discusses the importance of building a solid financial foundation to gain the ability to set boundaries and make empowered decisions
- Whitney shares how she continued to prioritize her family's needs even as she transitioned into full-time real estate investing
(00:08:00 - 00:11:00) The Five Freedoms: Unlocking a Life of Choice
- Suja and Whitney discuss the five freedoms: financial, time, choice, location, and impact
- They explore how financial freedom can be the key to unlocking the other freedoms
- Whitney encourages listeners to identify which freedoms they truly desire and to work towards creating a life that aligns with those values
Quote:
- "Feeling empowered that you have the right financial foundation and the right amount of passive income coming into where you can actually set some boundaries for yourself is so empowering." - Whitney Elkins Hutton
Connect with Whitney:
Website: PassiveInvestingwithWhitney.com
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