Financial Independence For Students With Rob Phelan (378)

Life Skills That Matter | Create Work That Works For You

Do you want to become achieve financial independence?

Rob Phelan wants you to know that becoming financially independent is not as far out of your reach as you might think!

He's a math and personal finance teacher by day, but has several side hustles. He's the founder of The Simple Startup, a training and education company helping high school students learn how to start a business.

He also develops curriculum for Choose FI, the financial independence community.

Lot of great lessons in our conversation including:

1. How to tell your story effectively.
2. How he automated aspects of his classroom to give him more time to start side businesses.
3. How he learned to earn income without trading his minutes for dollars.
4. The simple formula for achieving your financial independence.
5. Battling perfectionism.

Life Skills That Matter In This Episode

• Tell your story.
• Curiosity.
• Personal finance.

How Rob Works and Thinks

• Wake up time: 5:50 am
• Ideal work environment: Working from home without feeling like anyone was looking over his shoulder and being able to make teaching very efficient.
• Superpower: Ideas.
• Definition of success: When he’s in full control of what he does.
• Regains focus by: Putting things away for a while and allowing yourself to be unmotivated for a time. Sometimes, it’s going back to his idea journal to see what might be exciting.

Inspirational Quotes

“The story you tell yourself about who you are and who you want to be is one of the biggest catalysts for change.”

“I like to solve problems, it gives me a buzz, I enjoy doing it, and it just lends itself then to me saying, well, that just makes me an entrepreneur by default.”

“I started enjoying teaching more, I think, as I started being able to bring this kind of knowledge-base in that I was learning about at the same time.”

“There’s no income ceiling. You can make as much as you want side-hustling and doing entrepreneurship.”

“I want things that I can scale and they kind of take on a life of their own.”

Coaching Advice

Have an idea for a side business but haven’t started yet? Rob shared this advice for getting started:

1) Think about what the most bare-bones version of the idea is and test out how it goes at a very basic level

2) You don’t have to do a career change on day one, just start small and simple then grow it if it feels worth growing.

Resources + Bonus Materials

The 4-hour Work Week by Tim Ferriss

Choose FI Foundation

The Simple StartUp Workbooks

The Lean Startup by Eric Ries

M Is For Money by Rob Phelan

LSTM Lifestyle Calculator

Special Offer!

Get 20% off Rob’s summer course and his self-paced course using the discount code: LIFESKILLS20

102 Business Ideas for Young Entrepreneurs

Related Episodes

Flirting With Self-Employment With Diania Merriam (376)

Visualize Your Career Goals Using Sketchnoting With Doug Neill (140)

Connect With Rob

Website

LinkedIn

Twitter

Instagram

Facebook

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