Financial Freedom: Insights from Scott Trench’s Set for Life

Hello, everyone! I am thrilled to welcome you to a series of conversations that dive deep into what it truly means to be set for life. Today, we’re talking to some of the most insightful voices in financial independence, wealth-building, and personal growth. You’ll hear from Scott Trench, a master of creating pathways to financial freedom and author of Set for Life. We’ve also got the legendary Robert Kiyosaki, whose book Rich Dad Poor Dad has inspired millions to rethink money, and Pat Flynn, the go-to expert on turning passion into profit through Smart Passive Income.

You’ll also get powerful insights from Tim Ferriss, the productivity guru behind The 4-Hour Workweek, and Gary Vaynerchuk, the digital pioneer redefining hustle and personal branding. And we’re not stopping there—Paula Pant will share her wisdom on financial freedom through real estate, while Brandon Turner dives into his experience building wealth through property investments.

These imaginary conversations explore the core strategies and philosophies that can change your relationship with money, help you spot opportunities, and build the life you dream of. It’s all about creating freedom—financially, emotionally, and mentally. So, let’s get started and discover what it takes to be set for life!

Mindset and Sacrifice for Financial Independence

Nick Sasaki: Welcome, everyone! Today, we’re diving deep into the topic of mindset and sacrifice for financial independence. Joining us are three incredible thinkers: Scott Trench, author of Set for Life; James Clear, author of Atomic Habits; and David Goggins, author of Can’t Hurt Me. Let’s get right into it. Scott, in Set for Life, you talk a lot about aggressive saving and adopting a certain mindset. Can you share what that mindset entails?

Scott Trench: Absolutely, Nick. For me, achieving financial independence quickly requires a willingness to embrace discomfort and delay gratification. This means questioning societal norms around spending and comfort, and understanding that sacrifices today can lead to freedom tomorrow. It’s about reframing your thinking—seeing temporary sacrifices as investments in your future self.

Nick Sasaki: That’s powerful, Scott. James, in Atomic Habits, you discuss how small habits compound over time. How does this idea of incremental changes fit into building a mindset for financial freedom?

James Clear: Great question, Nick. What Scott’s saying really aligns with my philosophy. Often, people set these huge, daunting financial goals and get overwhelmed. But the key to achieving big things is by focusing on small, consistent actions. A habit like tracking expenses daily, automating savings, or even practicing gratitude for simple pleasures can compound to shift how you perceive wealth and sacrifice. These small wins build confidence and reinforce the mindset Scott is talking about.

Nick Sasaki: That makes a lot of sense, James. Now, David, you’ve built a career around mental toughness and pushing through pain. How can the mindset of embracing discomfort apply to financial independence?

David Goggins: Man, this is right up my alley. People avoid discomfort because they’re conditioned to seek pleasure and escape pain, but that’s where growth happens. Financial independence isn’t just about cutting expenses or saving money—it’s a mental battle against your own excuses. You’ve got to sit down and be honest with yourself about what you want, and whether you’re willing to suffer for it. Comfort is the enemy of progress, in fitness and in finances.

Nick Sasaki: I love how all these perspectives tie together. Scott, let’s build on that. In your experience, what’s the biggest mental barrier people face when they start pursuing financial independence?

Scott Trench: One of the biggest barriers is accepting that the standard lifestyle most people follow isn’t the only path. It takes courage to choose something different—like house-hacking or opting out of material possessions—and to face judgment from others. People struggle with the idea that financial freedom requires a radical shift in priorities, and it’s often hard to ignore what society expects you to do.

Nick Sasaki: James, what strategies would you recommend for someone trying to stay consistent with this mindset shift in the face of social and peer pressure?

James Clear: Consistency starts with identity. If you believe you’re someone committed to financial independence, every decision aligns with that identity. This means setting up your environment to support that belief, like surrounding yourself with like-minded people or tracking daily progress in a journal. Also, embrace the 1% rule: if you aim to get just 1% better every day in your financial habits, over time, the results are profound.

Nick Sasaki: That’s really practical. David, I have to ask: How do you handle the moments when staying consistent feels impossible?

David Goggins: Those are the defining moments, man. When you’re on the edge and everything in you wants to quit—that’s when you learn who you really are. In those moments, I look in the mirror and ask myself, “How bad do you want this?” Financial independence isn’t an overnight thing. When the grind gets tough, you’ve got to dig deep, find your why, and use it as fuel. It’s about staying relentless.

Nick Sasaki: This is gold! Scott, how would you advise someone to find their “why” in the context of financial independence?

Scott Trench: That’s a key point, David. Your “why” needs to be something personal and compelling. Maybe it’s wanting to spend more time with your family, escape a job that drains you, or pursue a passion project. When your reason is strong enough, sacrifices start feeling like investments in that vision rather than losses. Write it down, revisit it often, and let it guide your choices.

Nick Sasaki: I can see the threads coming together here. It’s about identity, consistency, embracing discomfort, and staying clear on your vision. Before we wrap up, could each of you share one final thought on mindset and sacrifice?

James Clear: I’d say, focus on building small habits that lead towards your big goals. The right mindset isn’t built in a day, but through the small decisions you make consistently.

David Goggins: My advice: Embrace the suck. If it’s tough, it’s worth it. The discomfort you feel today is the fuel for the life you want tomorrow.

Scott Trench: I’d add that the sacrifices you make now aren’t about deprivation—they’re about creating choices and freedom later. When you focus on that, it’s easier to stay motivated.

Nick Sasaki: Thank you, Scott, James, and David, for sharing such valuable insights. This has been an enlightening conversation about building the right mindset and embracing the sacrifices necessary for financial independence. Until next time!

Income Strategies and Aggressive Saving

Nick Sasaki: Welcome back, everyone! Today, we’re diving into a critical topic for achieving financial freedom: Income Strategies and Aggressive Saving. We have Scott Trench, the author of Set for Life; Ramit Sethi, author of I Will Teach You to Be Rich; and Chris Guillebeau, author of The $100 Startup. Let’s jump right in. Scott, you emphasize aggressive saving as the foundation for financial independence. What strategies do you recommend for people starting out?

Scott Trench: Thanks, Nick. In Set for Life, I stress that the first step towards financial freedom is aggressively cutting unnecessary expenses and saving as much as possible. This means identifying your “big three” expenses—housing, transportation, and food—and finding ways to minimize them. A great example is house-hacking, which not only reduces your housing cost but can also generate income. The key is to prioritize saving over spending on things that don’t bring lasting value.

Nick Sasaki: Great insights, Scott. Ramit, in your book, you talk a lot about increasing income. How does this idea of income growth complement Scott’s aggressive saving strategy?

Ramit Sethi: Thanks, Nick. It’s crucial to realize that while aggressive saving is foundational, you can only cut so much. At a certain point, you need to focus on earning more to grow faster. This could mean negotiating a higher salary, creating side hustles, or launching a business. I always advise people to invest in high-leverage skills—things that companies are willing to pay a premium for. Once you increase your income, you can save and invest much more aggressively, accelerating your journey to financial independence.

Nick Sasaki: That makes perfect sense, Ramit. Chris, you’ve helped countless people launch successful side businesses. What are some strategies people can use to create additional income streams while still working a 9-to-5 job?

Chris Guillebeau: Absolutely, Nick. The key is to start with what I call “low-risk, high-reward” side hustles. Look at your existing skills and passions, and find ways to turn them into a small business that requires little upfront investment. For instance, if you’re good at design, offer freelance services or create digital products. The main idea is to start small and keep your risks low while you’re still learning. This helps you build confidence and cash flow without sacrificing your main job security.

Nick Sasaki: That’s great advice, Chris. Scott, let’s go back to your concept of aggressive saving. How do you address the challenge people face when trying to maintain discipline while cutting back on expenses?

Scott Trench: It’s definitely not easy, Nick. One way to stay disciplined is to focus on automating your savings. Set up automatic transfers from your checking account to your savings or investment accounts right after you get paid. This way, the decision is made for you before you even see the money. And when it comes to cutting expenses, it helps to focus on the big wins rather than getting bogged down by small sacrifices. For instance, finding a house-hacking opportunity or reducing your transportation costs can lead to much bigger savings than just cutting out daily lattes.

Nick Sasaki: That’s really actionable advice. Ramit, you often talk about “rich life” and spending on what you value. How do you reconcile this with aggressive saving?

Ramit Sethi: That’s a great question, Nick. I believe you should spend extravagantly on the things you love and cut mercilessly on the things you don’t. This is about designing your rich life. If travel is your priority, budget aggressively elsewhere to make it happen guilt-free. But the key is intentionality—knowing what you value and making conscious decisions to fund that while still building your wealth. Aggressive saving and smart spending aren’t mutually exclusive—they work together to create a balanced financial strategy.

Nick Sasaki: I love that perspective, Ramit. Chris, speaking of balance, how do you advise people to juggle their 9-to-5 job with a side hustle without burning out?

Chris Guillebeau: It’s all about setting clear boundaries, Nick. Side hustles should be something you’re passionate about, so they feel less like work. Allocate specific hours each week to work on them and stick to those hours. You don’t need to hustle 24/7; in fact, if you’re working on something you enjoy, it shouldn’t feel draining. It’s also about understanding your purpose—if the side hustle aligns with your bigger vision for financial independence or freedom, it will feel more fulfilling and less exhausting.

Nick Sasaki: Excellent points, Chris. Scott, do you have any final advice for someone who wants to aggressively save but is also looking to explore additional income streams?

Scott Trench: Sure, Nick. I’d say, prioritize high-impact changes first. Reduce your biggest expenses and automate your savings. Once you have a solid saving habit in place, focus on earning more through strategic side hustles or career growth. And remember, the goal isn’t to deprive yourself—it’s to build a future where you have freedom and options.

Nick Sasaki: That’s great. Ramit, any parting words on balancing income growth and aggressive saving?

Ramit Sethi: I’d add that financial success is as much about psychology as it is about numbers. Don’t let money control you—make decisions based on your values and long-term vision. If you focus on earning more while being intentional with your spending and saving, you’ll find a balance that works for you.

Nick Sasaki: Fantastic! Chris, how about you?

Chris Guillebeau: I’d just say, start small, but start now. Your side hustle doesn’t need to be perfect—it just needs to exist. Create something that aligns with your skills and interests, and let it grow from there.

Nick Sasaki: Amazing insights from all of you. Scott, Ramit, Chris—thank you so much for sharing your wisdom on income strategies and aggressive saving. It’s been a fantastic discussion, and I’m sure our audience is walking away with some valuable takeaways. Until next time!

Nick Sasaki: Welcome back, everyone! Today, we’re talking about Efficient Expense Management and House-Hacking, crucial topics for anyone looking to achieve financial independence. Joining me are Scott Trench, author of Set for Life; Paula Pant, host of Afford Anything; and Brandon Turner, real estate investor and former host of the BiggerPockets Podcast. Scott, let’s start with you. You’ve talked a lot about managing expenses strategically. What’s your philosophy on this?

Scott Trench: Thanks, Nick. My approach to managing expenses is all about focusing on the “big three”—housing, transportation, and food. These are the largest expenses in most people’s budgets, and if you can optimize them, you’ll free up a significant amount of money for savings and investments. House-hacking, for example, is one of the most impactful ways to minimize housing costs. By buying a multi-family property or renting out spare rooms, you can drastically cut your expenses and even generate income.

Nick Sasaki: That’s a great point, Scott. Paula, you’ve built an entire platform around efficient living and real estate. How do you approach expense management in a way that’s both practical and sustainable?

Paula Pant: Great question, Nick. For me, efficient expense management isn’t about deprivation—it’s about aligning your spending with your values and long-term goals. I believe in spending money on the things that matter most to you and cutting ruthlessly on the things that don’t. When it comes to housing, house-hacking is one of the best strategies because it doesn’t just lower your expenses; it also turns your home into an income-generating asset. It’s a practical way to achieve significant savings without feeling like you’re sacrificing your lifestyle.

Nick Sasaki: That’s a great perspective, Paula. Brandon, you’re known for your expertise in real estate investing. How does house-hacking play into an overall strategy for building wealth?

Brandon Turner: Nick, house-hacking is hands down one of the most powerful tools for building wealth, especially if you’re just starting out. By living in one unit of a multi-family property and renting out the others, you essentially have your tenants covering your mortgage. This not only reduces your housing costs but also lets you build equity and cash flow. It’s a great way to get your foot in the door with real estate investing without needing a huge amount of capital upfront.

Nick Sasaki: That’s a great breakdown, Brandon. Scott, you mentioned focusing on the “big three” expenses. How do you recommend balancing frugality with living a comfortable life?

Scott Trench: That’s a common concern, Nick. It’s not about depriving yourself of comfort but rather being intentional with your spending. When you strategically cut costs on big-ticket items like housing and transportation, you free up money for things you value more, like travel or hobbies. So, instead of focusing on minor expenses like daily coffee, focus on the bigger expenses that make the most impact. Once those are optimized, you can enjoy the rest without guilt.

Nick Sasaki: That makes sense. Paula, do you have any practical tips for someone looking to start house-hacking but isn’t sure where to begin?

Paula Pant: Absolutely, Nick. First, educate yourself about the real estate market in your area and understand what’s feasible within your budget. Start by looking for properties with the potential to rent out additional units, like duplexes, triplexes, or homes with basement apartments. Also, think creatively—renting out a spare bedroom or even parking spaces can be a great way to start small. Lastly, run the numbers carefully. Make sure that the rental income can cover a significant portion of your mortgage or living expenses.

Nick Sasaki: Those are some solid steps, Paula. Brandon, what advice would you give to someone new to real estate who’s intimidated by the idea of house-hacking?

Brandon Turner: I get that a lot, Nick. House-hacking can seem overwhelming at first, but it doesn’t have to be. My advice is to start small and keep it simple. If buying a duplex seems like too much, try renting out a room in your home. This will help you get comfortable with managing tenants and understanding rental income without taking on too much risk. Remember, house-hacking is just about turning your home into an asset. Start with what you have and grow from there.

Nick Sasaki: That’s a very approachable way to get started, Brandon. Scott, let’s bring it back to expense management. What would you say to someone who feels like they’ve cut all the expenses they can but still aren’t saving enough?

Scott Trench: If you’ve optimized your expenses and still aren’t saving enough, the next step is to look at increasing your income. This could mean negotiating a raise, taking on a side hustle, or even considering a career change if you’re not being paid what you’re worth. Sometimes, it’s not just about cutting back—it’s about finding ways to bring in more money so you can save more aggressively and build a financial cushion.

Nick Sasaki: Paula, would you add anything to that?

Paula Pant: I completely agree with Scott. Sometimes there’s only so much you can cut. If you’ve done everything you can on the expense side, it’s time to focus on earning more. Look at ways to leverage your existing skills or acquire new ones that will increase your earning potential. Also, always keep an eye out for opportunities in real estate. There are so many creative ways to generate income if you’re willing to think outside the box.

Nick Sasaki: That’s great advice, Paula. Brandon, how do you balance being frugal while also being willing to invest in the right opportunities?

Brandon Turner: It’s all about understanding what’s an investment versus what’s just an expense. Being frugal doesn’t mean being cheap—it means being strategic. For example, investing in a property that can generate income is a smart move, even if it requires some upfront costs. But if you’re spending money on things that don’t bring long-term value or generate income, that’s where you should cut back. The key is to put your money where it has the potential to grow.

Nick Sasaki: That’s a perfect way to put it, Brandon. Before we wrap up, let’s hear one final piece of advice from each of you. Scott, what would you say to someone looking to manage their expenses efficiently?

Scott Trench: I’d say, focus on the big-ticket items, automate your savings, and keep your eyes on the long-term goal of financial independence. Small changes in the big expenses can have a huge impact on your financial future.

Nick Sasaki: Paula?

Paula Pant: My advice would be to spend intentionally. Know what matters to you, and cut out everything that doesn’t. And when it comes to house-hacking, think creatively and take small steps to get started.

Nick Sasaki: Brandon, wrap us up.

Brandon Turner: Don’t let the fear of starting hold you back. House-hacking is one of the best ways to learn about real estate and build wealth. Start small, keep it simple, and let your investments grow over time.

Nick Sasaki: Fantastic! Scott, Paula, Brandon—thank you all for sharing your wisdom on expense management and house-hacking. This has been a valuable discussion for anyone looking to optimize their finances and start building wealth. Until next time!

Investing in Yourself and Building Assets

Nick Sasaki: Welcome back, everyone! Today, we’re exploring the idea of investing in yourself and building assets. This is a crucial step for anyone on the path to financial independence. Joining us are Scott Trench, author of Set for Life; Gary Vaynerchuk, entrepreneur and author of Crushing It!; and Tim Ferriss, author of The 4-Hour Workweek. Scott, let’s start with you. You often talk about investing in yourself before focusing on other investments. Why is that so critical?

Scott Trench: Thanks, Nick. Investing in yourself is foundational because it creates the highest return on investment. Before you put money into real estate or stocks, you need to build your skills, knowledge, and network. These are the assets that help you earn more and make better decisions. For example, developing negotiation skills or understanding the basics of real estate investing can set you up for smarter investments down the road. It’s all about increasing your value in the marketplace before seeking financial returns.

Nick Sasaki: That’s a great perspective, Scott. Gary, you’re known for emphasizing the importance of hustle and self-investment. How do you see investing in yourself as a key part of building wealth?

Gary Vaynerchuk: It’s everything, Nick. You can’t win without the right mindset and skills. People want shortcuts, but there’s no substitute for doing the work and putting in the time to learn. Whether it’s spending hours understanding consumer behavior, mastering social media, or just developing self-awareness, it’s about playing the long game. When you invest in yourself, you’re building the foundation that every other success is built on. If you can become the best at what you do or understand what makes you unique, you’ll find opportunities to build assets that reflect your strengths.

Nick Sasaki: Absolutely. Tim, in The 4-Hour Workweek, you talk about optimizing your time and creating value. How does investing in yourself fit into that framework?

Tim Ferriss: Investing in yourself is really about leverage, Nick. If you can learn a skill or gain knowledge that saves you time or increases your efficiency, it pays off exponentially over the long term. Whether it’s learning negotiation techniques, understanding automation, or mastering a new language, the goal is to amplify your efforts. Once you have these skills, you can create assets—like businesses, investments, or even automated revenue streams—that continue to generate value without requiring constant input.

Nick Sasaki: Great insights, Tim. Scott, let’s dive deeper into this idea of building assets. You focus a lot on real estate, but what other types of assets should people consider investing in?

Scott Trench: Real estate is definitely a big one, but it’s not the only option. I also advocate for building up your financial portfolio with diversified investments like stocks and bonds. Beyond that, think of businesses as an asset. This could be a side hustle that scales over time or even a blog that generates passive income. The idea is to find or create assets that can provide cash flow and grow in value, giving you more financial security and freedom.

Nick Sasaki: That’s great advice, Scott. Gary, you often talk about building a personal brand. How does that tie into the idea of creating assets?

Gary Vaynerchuk: Building a personal brand is one of the most underrated assets out there, Nick. Your reputation and digital footprint are things that can generate massive ROI. By creating content and documenting your journey, you’re essentially building equity in yourself. That brand can then open doors to partnerships, speaking gigs, product sales, or even new business ventures. It’s about being authentic and consistently providing value so that your brand becomes an asset that works for you.

Nick Sasaki: That’s powerful, Gary. Tim, you’ve been a huge advocate for automating income streams. How do you approach creating assets that don’t require constant input?

Tim Ferriss: For me, it’s all about finding opportunities that offer asymmetric returns. In other words, looking for situations where a small amount of effort can yield significant results. This could be creating an online course, writing a book, or building software that addresses a need. Once these assets are created, they can continue to provide income with minimal ongoing effort. It’s not just about making money; it’s about creating freedom through scalable assets.

Nick Sasaki: I love that approach. Scott, how would you advise someone who wants to invest in themselves but doesn’t know where to start?

Scott Trench: Start by identifying areas where you can gain a high return on your investment of time and effort. For example, improving your communication skills, learning about personal finance, or understanding the basics of investing. Once you’ve built a solid knowledge base, seek out mentors and connect with people who have been where you want to go. Learning from their experiences and insights is a powerful way to accelerate your growth.

Nick Sasaki: Great point, Scott. Gary, what’s your advice for someone who feels overwhelmed by all the options for self-investment?

Gary Vaynerchuk: Keep it simple. Start by focusing on one thing you’re passionate about and double down on it. It’s easy to get distracted by all the noise out there, but if you stick to what you’re good at and love doing, the rest will fall into place. Don’t worry about comparing yourself to others or following trends—just keep building your strengths, and the opportunities will come.

Nick Sasaki: That’s very practical advice. Tim, how would you suggest people decide which skills or areas to invest in?

Tim Ferriss: Look for the 80/20 opportunities, Nick. What are the 20% of skills or areas that will give you 80% of the results? For most people, this means focusing on things like communication, negotiation, and learning how to delegate. If you can master these core skills, you’ll be in a much better position to build scalable assets and optimize your time effectively.

Nick Sasaki: That’s a great strategy, Tim. Before we wrap up, let’s hear one final piece of advice from each of you on investing in yourself and building assets. Scott, let’s start with you.

Scott Trench: My advice would be to keep learning and stay curious. The more you invest in building your knowledge and skills, the more prepared you’ll be to spot and seize opportunities when they come.

Nick Sasaki: Gary?

Gary Vaynerchuk: Be patient but relentless. Building assets and investing in yourself takes time, but if you keep putting in the work and stay true to yourself, the results will come. Play the long game.

Nick Sasaki: Tim, wrap us up.

Tim Ferriss: Focus on leverage. Look for the smallest actions that will create the biggest impact, and use those to build assets that provide freedom and flexibility in your life.

Nick Sasaki: Fantastic insights from all of you. Scott, Gary, Tim—thank you so much for sharing your wisdom on investing in yourself and building assets. I’m sure our audience is walking away with valuable strategies to take action. Until next time!

Creating Financial Freedom and Leveraging Opportunities

Nick Sasaki: Welcome, everyone! Today, we’re diving into Creating Financial Freedom and Leveraging Opportunities. We’ve got Scott Trench, author of Set for Life; Robert Kiyosaki, author of Rich Dad Poor Dad; and Pat Flynn, creator of Smart Passive Income. This topic is all about breaking free from financial limitations and seizing opportunities to build lasting wealth. Scott, let’s start with you. How do you define financial freedom, and what are the first steps to achieving it?

Scott Trench: Thanks, Nick. For me, financial freedom means having enough passive income to cover your expenses, so you’re not dependent on a job to survive. It’s about creating options and having the flexibility to choose how you spend your time. The first step is building a solid foundation by aggressively saving and investing in yourself. From there, it’s about acquiring assets that generate consistent cash flow, like real estate or dividend-paying stocks. Once your passive income exceeds your expenses, you have true freedom.

Nick Sasaki: That’s a great foundation, Scott. Robert, in Rich Dad Poor Dad, you talk a lot about shifting your mindset and leveraging opportunities. How do you see these principles fitting into achieving financial freedom?

Robert Kiyosaki: Financial freedom starts with understanding the difference between assets and liabilities, Nick. Most people think financial security comes from a steady paycheck, but real freedom comes from building assets that generate income without you actively working for it. This means looking for opportunities to acquire real estate, start businesses, or invest in cash-flowing ventures. It’s a mindset shift—from working for money to having money work for you. The key is to leverage every opportunity to grow your assets while minimizing your liabilities.

Nick Sasaki: That’s powerful, Robert. Pat, you’ve built a brand around creating passive income. How does leveraging opportunities play into creating financial freedom?

Pat Flynn: Great question, Nick. Leveraging opportunities is all about recognizing where you can create scalable systems and automation. It’s not just about passive income; it’s about setting up streams that keep working even when you’re not. For me, that’s involved creating online courses, affiliate marketing, and building digital products. Each of these is an opportunity to build something once that pays you repeatedly. The trick is to look for areas where you can add value at scale and leverage the power of automation to keep those streams running.

Nick Sasaki: That’s a great approach, Pat. Scott, let’s go back to leveraging opportunities. What are some of the key opportunities you think people should be looking for when trying to build financial freedom?

Scott Trench: It really depends on where you are in your journey, Nick. If you’re just starting out, house-hacking or getting into real estate investing is a great way to generate cash flow and build equity. As you build capital, you can start looking at more diverse opportunities like small business investments, dividend stocks, or even creating digital assets. The key is to stay open to different paths and not get too focused on just one way to build wealth.

Nick Sasaki: That’s a great strategy. Robert, how do you advise people to spot and seize opportunities, especially if they’re stuck in a traditional job?

Robert Kiyosaki: Most people miss opportunities because they’re looking through the lens of an employee, not an investor. To spot opportunities, you have to change the way you see the world. Start by educating yourself on investments, real estate, or entrepreneurship. Once you know what to look for, you’ll start seeing opportunities everywhere—whether it’s a distressed property, a business for sale, or even market trends. It’s about being proactive and willing to take risks, but calculated ones.

Nick Sasaki: That’s insightful, Robert. Pat, you talk about creating scalable systems. What advice would you give to someone who’s starting to build these systems but feels overwhelmed?

Pat Flynn: Start small and keep it simple, Nick. If you try to automate everything at once, it can get overwhelming. Focus on building one system at a time. For example, if you’re creating an online course, build the first module and get feedback before scaling up. Once you’ve got that working, you can add more. It’s about taking it step-by-step and focusing on high-leverage activities that give you the biggest return on your time and effort.

Nick Sasaki: That’s great advice, Pat. Scott, how do you balance being aggressive in seeking opportunities with being cautious about risks?

Scott Trench: It’s about having a clear understanding of your risk tolerance and sticking to a plan. Start by building a strong financial foundation—have an emergency fund and avoid high-interest debt. From there, evaluate each opportunity based on its potential upside versus the downside risk. It’s fine to be aggressive when you’re young or if you have a solid safety net in place, but always be strategic. Not every opportunity is worth pursuing; sometimes the best move is to wait for the right one.

Nick Sasaki: That’s a practical approach, Scott. Robert, what’s your take on balancing risk and opportunity?

Robert Kiyosaki: Risk is all about education. The more you know, the less risky things become. People think real estate is risky, but that’s only true if you don’t know what you’re doing. So, my advice is to invest in your financial education and surround yourself with knowledgeable mentors. When you’re well-prepared, what looks risky to others is an opportunity for you.

Nick Sasaki: Pat, let’s hear your thoughts on balancing risk while building passive income streams.

Pat Flynn: For me, it’s all about diversification. Don’t put all your eggs in one basket. If you’re building multiple income streams, make sure they’re not all dependent on one platform or strategy. That way, if one stream fails, you’ve got others to rely on. Also, test things in small ways before going all-in. Start with a minimal viable product or a pilot run to see if the idea has legs before scaling it up.

Nick Sasaki: Fantastic advice from all of you. Before we close, let’s get one final piece of advice on creating financial freedom and leveraging opportunities. Scott, what’s your takeaway?

Scott Trench: Focus on building a strong foundation first—through saving, investing in yourself, and creating initial cash flow. Once you have that, stay curious and keep looking for opportunities to grow and diversify.

Nick Sasaki: Robert?

Robert Kiyosaki: Don’t work for money; let money work for you. Invest in assets that generate cash flow, and always keep learning so you can spot opportunities others don’t see.

Nick Sasaki: And Pat, wrap us up.

Pat Flynn: Look for ways to scale what you’re good at. Start with something small, automate what you can, and keep adding value. Financial freedom comes from creating systems that work even when you’re not.

Nick Sasaki: Thank you, Scott, Robert, and Pat, for sharing such valuable insights on creating financial freedom and leveraging opportunities. It’s been a fantastic conversation, and I’m sure our audience has a lot to take away from it. Until next time!

Short Bios:

Scott Trench
Scott Trench is the CEO of BiggerPockets and author of Set for Life. He is a real estate investor, financial educator, and advocate for achieving financial independence through aggressive saving, strategic investing, and smart financial decisions. His approach focuses on building a strong foundation for long-term wealth.

James Clear
James Clear is the author of Atomic Habits, a bestseller that focuses on the power of small, consistent changes to achieve massive results. He is a writer and speaker specializing in habits, decision-making, and continuous improvement. His work has inspired millions to embrace intentional habits for personal and financial growth.

David Goggins
David Goggins is a retired Navy SEAL, ultramarathon runner, and author of Can’t Hurt Me. Known for his relentless mindset and pushing through pain, Goggins emphasizes mental toughness, resilience, and embracing discomfort to reach one's highest potential in all areas of life.

Carol Dweck
Carol Dweck is a psychologist and the author of Mindset: The New Psychology of Success. Her groundbreaking research introduced the concept of a "growth mindset," which shows how adopting the right attitudes towards challenges and failures can lead to greater achievements in personal and professional life.

Ramit Sethi
Ramit Sethi is the author of I Will Teach You to Be Rich and a personal finance advisor known for his practical, psychology-based approach to money management. He focuses on increasing income, intentional spending, and living a "rich life" aligned with one's values.

Chris Guillebeau
Chris Guillebeau is an entrepreneur and author of The $100 Startup and Side Hustle. He is known for inspiring people to start small, low-risk businesses that create additional income streams. His work empowers individuals to take control of their financial futures through creative side ventures.

Grant Sabatier
Grant Sabatier is the author of Financial Freedom and founder of Millennial Money. After achieving financial independence at a young age, he shares insights on saving aggressively, earning more, and strategically investing to reach financial freedom quickly.

Paula Pant
Paula Pant is the founder of Afford Anything and a real estate investor who advocates for smart financial decisions and prioritizing what matters most in life. Her philosophy emphasizes creating flexibility and freedom by managing expenses efficiently and building passive income through real estate.

Brandon Turner
Brandon Turner is a real estate investor, co-host of the BiggerPockets Podcast, and author of multiple books on real estate investing. He is a key advocate for house-hacking and leveraging real estate as a tool to build long-term wealth and financial independence.

Mr. Money Mustache (Peter Adeney)
Mr. Money Mustache, real name Peter Adeney, is a retired software engineer who popularized the concept of extreme frugality to achieve financial independence early in life. He focuses on simplifying expenses, maximizing savings, and building a life focused on purpose rather than consumerism.

Gary Vaynerchuk
Gary Vaynerchuk is an entrepreneur, digital marketing expert, and author of multiple books, including Crushing It!. Known for his emphasis on hustle and personal branding, he advocates leveraging social media and digital platforms to build scalable businesses and long-term assets.

Tim Ferriss
Tim Ferriss is an entrepreneur, investor, and author of The 4-Hour Workweek. He is known for optimizing productivity, creating automated income streams, and exploring innovative ways to leverage time and resources to achieve more with less effort.

Tony Robbins
Tony Robbins is a life coach, motivational speaker, and author of Money: Master the Game. He is known for his high-energy seminars and teachings on financial empowerment, personal growth, and creating a fulfilling life through mastery of one's finances and mindset.

Robert Kiyosaki
Robert Kiyosaki is the author of Rich Dad Poor Dad, one of the most influential books on personal finance and investing. He is an advocate for financial education and focuses on building wealth through acquiring assets, understanding money, and using strategic leverage.

Pat Flynn
Pat Flynn is an entrepreneur and founder of Smart Passive Income, a platform that teaches individuals how to create passive income streams through online businesses. He emphasizes the importance of diversification and scalability in creating financial security and freedom.

Chris Hogan
Chris Hogan is a financial coach and author of Everyday Millionaires. He provides practical advice on building wealth through disciplined saving, smart investing, and adopting millionaire habits to create a secure financial future.

Steve Jobs
Steve Jobs was the co-founder of Apple Inc. and a visionary entrepreneur known for his relentless pursuit of innovation and excellence. He inspired many through his focus on creating products that change the world and by demonstrating the importance of perseverance and resilience in the face of failure.

Masanobu Fukuoka
Masanobu Fukuoka was a Japanese farmer and philosopher, best known for pioneering the concept of “natural farming” in his book The One-Straw Revolution. His approach emphasizes working in harmony with nature, simplicity, and sustainable living, which align with broader perspectives on wealth and fulfillment.

Jane Goodall
Jane Goodall is a primatologist and conservationist known for her work with chimpanzees. Her life is a testament to following one’s passion and purpose while advocating for the well-being of others and the environment, adding a unique dimension to discussions on meaningful living and success.

Thich Nhat Hanh
Thich Nhat Hanh was a Vietnamese Zen Buddhist monk, author, and peace activist. Known for his teachings on mindfulness and living in the present moment, he offered wisdom on finding peace, joy, and purpose in life, which ties into deeper understandings of wealth beyond material success.