Mike Dillard: “A liberating book to set you free”
February 14, 2021 transcript from Self-Made Man podcast
Mike: “Today I’m interviewing Jay Leigeber, author of an interesting book just published under the title LIFESTYLE FREEDOM. Welcome to the Self-Made Man podcast Jay.”
Jay: “Thank-you for hosting me today Mike, I’m thrilled to be on the program speaking directly with your audience. I’ve been a fan for years, going back to the Elevation Group days. I’ve been inspired by many of the entrepreneurs you interview on the Self-Made Man podcast…the tagline “for men with ambition” speaks directly to my heart.
Mike: “So let’s jump right into the topic of the book…what do you mean with the title of your book “Lifestyle Freedom?”.
Jay: “To me, Lifestyle Freedom is not only about having the freedom, but also the where-with-all to be able to live your dreams daily. Now this isn’t just about money. I believe most of life’s riches are not in the monetary realm. However, money is certainly necessary for living the life you love. When one is tied down with a typical job…unless doing that job happens to be your dream, it takes time and choices away from your day being devoted to doing something you’d prefer to be focused on…activities that brings you joy. Even if you have freedom of time, but insufficient money or talent to follow your dreams, then you’ll just sit at home bored and frustrated. Now there is no magic wand that will take away all of your responsibilities or give you unlimited resources. That idea is a fairy tale. But I have discovered that there is magic when you understand and begin to properly utilize LEVERAGE. Once you begin to multiply the power and resources of what you do control with leverage, it opens up new doors of possibility to creating a lifestyle you love to live.”
Mike: “I assume you are talking about being an entrepreneur. Has how long have you been a business owner?”
Jay: “Actually being an entrepreneur has book-ended my career. Prior to going to graduate school I had purchased the blueberry farm I’d grown up on from my parents to run for 3-years while I figured out what I wanted to do with my life and earn money for the graduate education without taking on a lot of debt. Following an MBA, I had a wonderful 30-year career in packaged goods marketing, primarily in the food industry. I had the privilege of managing many of the brands that may be in your pantry or refrigerator. However, throughout the 2007-10 economic downturn, I found myself unemployed. This was quite a shock…I’d assumed I’d be a marketer working for large corporations throughout my life. But the recession really changed the job market, there were so many good people out of work competing for the same few openings and I never landed another executive level job. Eventually, after much consternation and frustration, I decided I had to re-invent myself as an entrepreneur, to take full control of my life again. This displacement really taught me an important lesson about liberty. As I said, I’d been very content with my life. I loved the creativity in managing these big brands, creating value through marketing programs and positioning. And with ever increasing levels of responsibility and advancement, I had proven I was pretty good at it. But to the degree someone could take it all away from me at their whim…there was no safety or security in that path. To experience true freedom, I’ve discovered you need to claim full responsibility for your own path.”
Mike: “What led you down the path you took?”
Jay: “Robert Kiyosaki’s great book Rich Dad Poor Dad. Prior to that point, when focused on my corporate career I wasn’t even remotely focused on how to build lifestyle security through investments. I was a diligent savor in the company 401K plans and this was during a time that that stocks were doing OK…but my focus was on doing well at my job and moving up the corporate ladder. Our lifestyle was enjoyable, and we thought that the career would go on indefinitely…until it didn’t. When out of work, wondering when paychecks would start to come in again and exposed to Kiyosaki’s idea of controlling assets that generate cash flow every month. In my situation this new idea became very compelling to me. Robert teaches the principle that when you have sufficient cash flow coming in every month to cover your lifestyle expenses…then you are really free to live your passions. So, I did a lot of training and started participating in cash flow real estate deals and then eventually raising capital for private lending to others that take all the risk and do all the work. Together these two concepts brought me two of the three critical insights that have led to my platform of liberty through Lifestyle Freedom.”
Mike: “What are those two key concepts, Jay?”
Jay: “As I’ve just said, the first of these is the security that can be provided by owning assets that generate sufficient income to pay for the lifestyle you desire. Once that is established, it can’t be taken away from you. It feels emancipating to know that the basics are covered by dependable cashflow and your mind can focus on living the life you love. The other key concept is the importance of leverage, which enables you to control and benefit from more than you own or have.”
Mike: “Please explain more of what you mean by that Jay.”
Jay: “Here I’m talking about two types of resources; money and time. If you have sufficient capital, say a million or two, depending on the lifestyle you crave, you can invest that capital wisely and create sufficient cashflow so it pays the bills and your principal balance never is at risk. In fact, if you invest in the right types of assets and utilize the tax laws to your benefit…while collecting the monthly cash flow your assets can appreciate in value you’re your equity position can rise dramatically over time. It’s a true win/win. However, almost all of us don’t have anywhere near one or two million dollars to invest, especially at the beginning of this journey. So, what can you do? Use other people’s money, or other people’s resources. That is the principle of leverage. To control a million dollars of cash flow real estate you only need a few hundred thousand, the rest is handled by bank mortgages or other types of private loans and business partnerships. This method is much more achievable for some people. I’ve covered these two investment concepts in depth in my first two books: Harder Working Money and Never-Ending Nest Eggs. Many people have commented how these two books helped them begin to understand investments in a new light and that makes me quite happy.”
Mike: “Yet…for so many people, even scraping together a few thousand dollars would be difficult. Does that mean they can never achieve Lifestyle Freedom?”
Jay: “Not at all Mike. Recall I said we have two primary resources. Money and Time. If you don’t have the money to work harder for you, you need to leverage your time in the same way.”
Mike: “Please explain how you leverage time, Jay.”
Jay: “Two ways. One is by owning a business. Now by definition if you don’t have the money to buy cashflow assets, you certainly don’t have the money to start a traditional business. However, anyone can choose to become involved with a network marketing business where there is only a very modest capital investment, but a more substantial time investment. Essentially these are referral marketing, where you earn residual income by subscribing others to programs that can benefit them. It may be involved with selling products or just services. The key is when one is compensated not only for the work they do, but also for the work they people they bring into the business…you can achieve significant leverage on other people’s time. But it all comes down knowing what your objective is. The plan I’m following is to create teams that I teach to build teams without me. So, in the longer run it self-duplicates. This won’t happen on its own, but if you teach and manage people the right way it becomes self-perpetuating. Let me tell you there is nothing like waking up in the morning and looking in your reports and seeing that a dozen new people joined the business this past week that you had nothing personally to do with…that you will start earning commissions off of their results, as well as the results of anyone else they bring into the business. That is a true feeling of liberty.
Mike: “You mentioned two ways of leveraging your time. What is the second one?”
Jay: “It’s really the combination of the first one and how you direct your personal time. With a clear focus on leverage, I’m trying to teach people how they can follow in my footsteps and create full-time income from part-time effort. Often this starts by taking on a side business while still employed. Over time as it grows it can replace the job you have been doing because you felt you had to rather than because you want to. I’ve heard it is quite refreshing to fire your boss. Then as your network marketing business becomes bigger and bigger…and if you have been also doing what I’ve suggested in investing in cashflow assets, pretty soon you can fund the lifestyle of your dreams without working all the time. People like how I characterize this as living a life with 5-day weekends. It’s not that we don’t have to do work any of the time, but when the work you do is quite valuable by keeping your activities focused on critical income producing activities rather than the things that suck up a lot of time with little reward…then you are being efficient. Some people say I’m the expert at harder working money and harder working time. I’d rather characterize is a person who has found a way to focus my days on achieving Lifestyle Freedom”
Mike: “I’m certain your message of achieving liberty and prosperity will be of interest to a lot of folks who follow the Self-Made Man podcast. Early on you said there were three core concepts included in the book Lifestyle Freedom. You’ve talked about cashflow and leverage. What is the 3rd core concept?
Jay: “This is a more recent adventure and development of my life. It comes down to learning how to control your thinking and define your dharma, so you can live a life filled with bliss.”
Mike: “Wow, that is quite a shift from real estate and network marketing. Tell me more about this.”
Jay: Thoreau said in the poem Walden: The mass of men lead lives of quiet desperation. The truth is most people have no idea how they would live their lives if they achieved true liberty, because they never expect to be able to do so. I think this is such a shame and a huge waste. I’m committed to influencing as many people as possible to focus on controlling their “world-within”. If you don’t know what you desire how can you chart a course to get there? I’ve started a journey of reading about controlling my thinking, realizing all power and creation begins in the mind. Back in 2018 I discovered a wonderful program called the Master Key Experience which goes through a 6-month process of clarifying your dharma, getting control of your thinking and beginning to leverage the awesome power of the subconscious mind. My life has has truly reached new levels of joy since I participated in this transformative program.”
Mike: “How has it changed, Jay?”
Jay: “For the first time in my life I’m feeling fully autonomous and in control. I know what I desire and where I should put my focus. I know what I should ignore. I’ve discovered that when you eliminate all the distractions and negativity that embroil most people’s lives, things become much simpler. In harmony, in the flow. I know that I’m much happier that I ever was in the first six and a half decades of my life. And the best part is, I’m sharing so much more with others. It is truly the case as Emerson says in his great essay Compensation…“the more you give the more you get”. This approach is fully supportive of living with Lifestyle Freedom.”
Mike: “This Master Key Experience sounds quite transformative and valuable. Is it affordable for ordinary people to go through?”
Jay: “That is the best part, Mike. For me to go through didn’t cost a cent. No one can buy their way in. It is entirely done though Pay It Forward scholarships. Of course, details about the program are fully explained in my new book Lifestyle Freedom. From a small beginning, this program has grown to impacting tens of thousands of family’s lives. It truly is an amazing program.”
Mike: “So rapping it up, this has been a different type of conversation, but one that is important to our audience, most of whom would be aligned with your desire for freedom. What can they expect to be the result if they read your book or follow your vlog?”
Jay: “More than anything, people who understand my perspective begin to perceive that so much more is possible in their lifestyles. Rather than living under constraints imposed by others, they begin to chase bigger dreams and truly believe they can achieve them provided they start to apply the strategies of cashflow investments and the leverage of money and time. As well, once they learn to control their mindset…they world-within, anything they desire is possible in their world-without.
Mike: “Well thank you Jay, this has been quite an informative conversation. How can people find you book or more information about your programs?”
Jay: “Of course the book Lifestyle Freedom is available on Amazon. As well I have a video-blog on YouTube that has become quite popular under the same title Lifestyle Freedom. And my best wishes to everyone in the audience for discovering their own path to liberty and living the life they love.”