And it was written by an author named Robert Kiyosaki. Many of you have heard of Robert Kiyosaki and rich Dad, poor dad, and I encourage all of you to read it. But inside this book he portrayed a concept. And I had never heard. It totally revolutionized my life and it was a concept of passive income. Now if you've read the book, then you know what I'm talking about. If you've not read the book, let me explain it for you. You see we have two types of income that we can create in our lives. We can have the income that we work for and we call that earned income or active income because you have to do activity in order to receive the income from it. And then we have what we call passive income. This is income that we set it in motion and then it continues to pay us over time.

So for example, book royalties would be a type of passive income. Or if you're a songwriter here in Nashville, you know, songwriter royalties, it's a type of passive income, you do some work for a little while and then you get paid over and over for as long as it's in practical use. Right? So I read Rich Dad, poor dad right at the beginning of my personal growth journey. And it really in many ways was the book that catapulted me into a lot of the stuff that I do today. That book on its own was a breakthrough, so I encourage all of you to read it. Another book that was recommended in that book was thinking, grow rich, which I encourage you to read. That was another major breakthrough in my life and just some of the concepts in that, but when I was reading the book, Rich Dad, poor dad, and I learned this concept of passive income, it truly transformed everything I know about money because I started to think differently about the type of income that I would create and fast forward years later, I actually got to meet the real rich dad, the original guy who, who trained Robert Kiyosaki, who taught him how to do everything and his name's Keith and I got to work with him for actually for four years.

He helped mentor me and one of my business partners and one of our other businesses and he's just an amazing human being. He's taught me so much. But what I want to say about that is it was that that first concept of learning what passive income was that transformed my life because I stopped thinking, Oh I have to do everything. And I started thinking about what's possible, what else could be done, what could I create that would create some residual income in my life. And there's been times and seasons in my life where, you know, I was just totally broke. But for example, my recording studio, when I built my recording studio, I had just read Rich Dad, poor dad, and I added an additional room to my recording studio that I hadn't played on adding and I could rent it out. And that created some income for me when I didn't have other work.

And that was just such a blessing at that time. And in other businesses, we have another business where some of the cashflow in that business really low for awhile, but we had a residual income component of it. And because of that we were able to keep the business going and we were able to sustain through some really dark times. Because we had that piece in place of passive income, something that just kept coming in month after month on a residual basis and those kinds of decisions, whether it's a rental property or whether it's a piece of your business or whatever it is that you think up and that you come up with that you can put into place, the more income you can create in your life that you don't have to keep going out and generating month after month after month. The more you can create in your life that will feed your piggy bank, if you will.

The most amazing things will happen the more you figure that out because that is the key to wealth. It truly is because now you start to leverage, you start to build the income while you go work on other things, and if you put the majority of your effort into building passive income, then what happens is, you know maybe in month one you don't have any money but you work, work, work, work, work, and you get a little passive income stream coming. And then month two, that one's already running and you come over here and you add another piece in there and you keep working, work, work, work, work. And now you have two passive income streams running. And as they start to snowball and it starts to stack up, it's going to transform your finances. It really will. So I really want to challenge you if you've never conceived this idea of passive income, I have a training program called building your financial fortress for life.

It's a great place to start. I teach passive income in there and it's not just passive income, but it's, it's also the, the ways that you build passive income. But if you've not thought about this before, if you've not added this to your life, I really want to encourage you, start studying it. Start looking into it because this one concept will more than anything else, transform the way you understand money. It will transform the way you understand income and it will transform your work ethic. Everything about it will change. It's just amazing. And I said your work ethic, but what I mean by ethic is is the way that you work towards something, not necessarily how hard you work, but the intention behind your work. All right, so I want to encourage you today, start thinking about passive income. How can you add passive income into your life and don't settle for less.

Don't say, Oh, I don't know how to do it. It's too hard. Oh, I don't have the money to do it. It becomes a must. It must become a must because if it's not a must, then you're going to be here five years from now, 10 years from now, 20 years from now, still sitting there doing the same job you're doing right now, saying, how can I get out of this? And the only way to get out of it is to start adding passive income into your life. So today decide passive income. I'm going to learn what does it mean to add passive income into my life?