Interview with Money Honey Rachel Richards
Real estate investor and author Rachel Richards is part of the Total Life Freedom community that I’m in. She is an amazing entrepreneur. At the age of 27, Rachel quit her job and retired. Living off over $15,000 per month in passive income, she has made a name for herself in the personal finance realm.
She has been featured on Penny Hoarders and The New York Times and contracted to speak at colleges. She is a former financial advisor and a real estate investor with almost 40 rental units. Her valuable lessons have helped thousands of female millennials work their way out of financial despair, and she has successfully done what no one has done before: made the topic of money management, fun, entertaining, and simple.
Rachel has also been featured on amazing top podcasts, like the FI show and Bigger Pockets. She has also been featured in Business Insider, CNBC, and in Forbes.
In this episode, find out these things:
- How she was able to retire at 27
- How she published her first book and why it sold so many copies
- What her main source of income is
- Things she learned from going viral on TikTok
- Six strategies for investing
- How long you have to stay consistent before you’ll be successful
- Almost everyone experiences impostor syndrome sometimes. It’s normal. Focus on the next step.
- Consider the gifts you’re withholding. How might those gifts help others?
- Keep going despite any doubters or detractors. The opinions of the people who aren’t in the arena like you are don’t matter.
- Have empathy and compassion for your haters. It’s a sad person who has nothing better to do than harass someone online.
- Start as soon as possible. Rachel said even though she started real estate investing young at 24, she would have started even earlier if she could do it over.
- Be patient; be consistent, do the things you are doing. Never give up, believe in yourself.
- Don’t wait for anyone to give you permission. You have permission. Just do it.
Read her books, Passive Income, Aggressive Retirement, and Money Honey 2nd edition (proofread by our own Jennifer Harshman). They’re both amazing. Thank you again, Rachel, and thank you all for listening. I’m very thankful to have you guys along this journey, and I will see you on our next episode.
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John Schuchman is a licensed REALTOR® in Lancaster, PA with Berkshire Hathaway HomeServices Homesale Realty and a part of the Andrew Welk Group. The opinions shared on this show represent the opinions & values of John Schuchman and do not necessarily represent the opinions & values of Berkshire Hathaway HomeServices Homesale Realty. The opinions & ideas shared in this podcast do not guarantee or promise any results of success to the listener.