From Blown Engine to Creating Independence – MPSOS151

KrKraig Mathias Creating Independenceaig Mathias was a young professional with a decent job. He convinced a friend and his brother to take a road trip from Minnesota to California in his 8 year old Pontiac. What he came back with was a story to tell – and $20,000 in auto debt!

If Kraig hadn't made that trip, if the engine hadn't blown on his 1999 Grand Prix, we wouldn't be talking about this today. His story isn't spectacular – until you the trail he has left behind.

Don't get mad, get even!

The car debt made him sick to his stomach – it represented about 2/3 of his annual income! He vowed to kill the debt and paid the car off in less than three years.

Kraig didn't stop there. He continued to save more than half of his income, investing much of it in the market. Today, he has a large cushion of cash and chose to quit his day job to build a business. Kraig is creating independence for himself.

Note: The first half of the interview is me geeking out over the math behind his car debt. Wouldn't you love to take a road trip and make the return voyage home in a new car? Would that change your world like it did Kraig's?

1,000 fans or 10 true clients?

Later, Kraig shares the strategy for creating independence (income through his business) with the “10 True Clients” method.

What is the 10 True Clients method? Check in at the 15:15 mark to find out yourself or listen to the original Tropical MBA podcast episode here.


 

Holla From The Impala segment

Pay more for insurance to save thousands in interest.

 

Links to things found in this show

Kraig's podcast, Create My Independence, can be found in iTunes or on his website. 

My April Fools Day podcast joke episode on Starve The Doubts with Jared Easley

My April Fools Day podcast joke episode on Cash Car Convert from James Kinson

My April Fools Day podcast joke episode on Stacking Benjamins

Thanks to Kirsty Bartholomew of the Untrapped Life podcast for the awesome intro “shout-out”

 

Top 5 Ways To Pay Off Your Mortgage Early
Interview with Rachel Cruze, author of Smart Money Smart Kids

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