Welcome back to the newsletter…
I'll be writing here weekly to help you build your Good Fortune, the intersection of your wealth and well-being.
Today I'll summarize my takeaways from Jack Gibson's work. Jack is a serial entrepreneur whose first business makes him $1M in passive income per year. He now coaches people in his new business, Indestructible Wealth. Read on to see how he coached me in my own business.
Here's the first takeaway:
Spend the majority of your time doubling down on your business
Jack's guide offers 5 ideas for building passive income:
- Rental real estate
- Convertible bonds
- Privatized banking
- Bitcoin mining automation
- Syndication
But he prefaces all of those options by first saying:
“If your business is making $250,000 per year. It's a lot easier to focus on making that $500,000 per year than it is to try and make $250,000 with outside investments.”
So his first piece of advice is to “double down on your business, or if you have a job, increase your skills and become world-class at what you do.”
