RPF0561-Radical_Housing_Ideas_4_of_5-Get_Your_Employer_to_Pay_For_Your_Housing_Costs
00:00:00.000 | Welcome to Radical Personal Finance, a show dedicated to providing you with the knowledge,
00:00:04.600 | skills, insight, and encouragement you need to live a rich and meaningful life now while
00:00:08.680 | building a plan for financial freedom in 10 years or less.
00:00:12.520 | Continuing on today with our radical housing series, today is idea number four.
00:00:18.000 | The idea is this.
00:00:19.680 | Is there a way that you can get your housing to be provided for you by your employer in
00:00:28.360 | some form or another?
00:00:30.080 | Of course, there are many ways that this can be done, many different permutations of this
00:00:34.400 | idea, but it's a powerful way for you to dramatically lower your living expenses.
00:00:41.560 | It's a very efficient way with regard to tax efficiency and expense efficiency for you
00:00:46.400 | to provide a basic need for yourself, and it can provide a foundation for you to grow
00:00:51.560 | your finances.
00:00:52.560 | Let's start with some obvious examples to kindle your creative thinking.
00:00:56.640 | One example would be something like the military.
00:00:59.160 | One of the great benefits of joining a military organization is that your basic living needs
00:01:05.400 | are provided for you as part of your contract.
00:01:08.640 | If you were to join your country's military, they'll provide for you housing, they'll provide
00:01:13.400 | for you clothing, they'll provide for you food, they'll provide for you medical care,
00:01:20.600 | and they'll provide all these things for you as part of your contract.
00:01:24.120 | Now of course, you also, in response, commit your entire life and literally your life,
00:01:31.520 | but you do get a good deal.
00:01:33.680 | So yes, your wages might not be the biggest wages as compared to other types of wages,
00:01:38.620 | but when you run the math on $30,000 wages with all of your expenses provided for you
00:01:44.520 | as compared to $50,000, but you're responsible for all of your expenses, you have a really
00:01:49.560 | neat opportunity.
00:01:51.400 | But the military is not the only way this can happen.
00:01:54.000 | There are some jobs where you wind up with your housing as provided for you as part of
00:01:58.840 | your job.
00:02:00.000 | I met a guy in a, I was in a cigar shop years ago.
00:02:04.120 | I always enjoy hanging out in cigar shops.
00:02:06.600 | I meet so many interesting people.
00:02:08.000 | So I was in a cigar shop and I start talking with this guy.
00:02:10.760 | And there are certain types of people that if you go in on the middle of a weekday at
00:02:15.000 | around 11 a.m., 10.30 a.m. into a cigar shop, the type of person that's there is either
00:02:20.760 | going to be, well, I've never met any financial losers.
00:02:24.760 | I never met just broke people in cigar shops.
00:02:27.120 | They either are very wealthy and that's what they want to do, or they're retired, or they
00:02:30.680 | work a job that allows them this kind of life flexibility.
00:02:33.520 | And so I start talking with this guy who is sharing with me.
00:02:38.720 | And I, at the time I was a financial advisor, so I like to meet wealthy people in cigar
00:02:42.640 | shops and hopes that they would like to hire me to give them advice on how to keep their
00:02:46.640 | wealth and make it grow.
00:02:48.640 | And we start talking and he had sold a trucking company.
00:02:51.840 | But the story that he shared with me was that he started when he was totally broke.
00:02:56.000 | And he started by just working at a company truck driver.
00:02:59.520 | He got a job and what he just negotiated was his ability to live in the truck.
00:03:03.000 | And he drove a lot, but he lived in the truck and he didn't maintain any house.
00:03:06.820 | So he drove constantly, lived in the truck.
00:03:09.720 | All of his expenses were provided by his job, saved all his money, and then he bought his
00:03:13.480 | own truck.
00:03:14.920 | And then he started to buy another truck and he built his own trucking company and he expanded
00:03:18.620 | it out and took him a number of years.
00:03:20.080 | And then his payoff plan at the end, he sold the trucking company and it was enough money
00:03:24.280 | for him to retire on the lump sum from the sale of the trucking company.
00:03:29.640 | Now don't be confused.
00:03:30.720 | He worked hard to make that happen.
00:03:33.380 | He sacrificed a lot, but a major component for him was the ability to eliminate housing
00:03:38.440 | expenses because of the fact that he lived in a truck.
00:03:42.720 | Now if you want something a little bit different, just recognize that there are all kinds of
00:03:45.280 | jobs that provide housing as a part of their job.
00:03:48.920 | Whether you work on a big rig oil derrick in the middle of the ocean, or you work on
00:03:53.560 | a boat and you sleep on the boat, or perhaps you get a job such as an apartment manager
00:04:00.880 | and you manage a 50 unit apartment complex, but part of your compensation is the fact
00:04:07.040 | that you get to live in one of the apartments rent free.
00:04:12.040 | Now there are so many other ways you can do this and you can do this in your own business.
00:04:16.680 | What about something like operating a bed and breakfast?
00:04:20.860 | Or what about where you own the house, you live in the house and you make your income
00:04:26.820 | from opening your house up to your guests?
00:04:29.760 | I love staying in bed and breakfasts.
00:04:31.320 | I meet the most interesting people.
00:04:32.720 | It's such a wonderful place.
00:04:33.920 | I love to show hospitality to others.
00:04:36.520 | I enjoy cooking.
00:04:37.520 | I enjoy hosting people.
00:04:38.520 | I enjoy meeting people.
00:04:39.520 | It's the kind of thing that for the right personality could be really wonderful.
00:04:43.640 | You live in our ranch and you have some cabins out back and that's a different variation
00:04:47.840 | of a bed and breakfast.
00:04:50.600 | Or perhaps you take that idea and you develop a service business.
00:04:58.280 | Perhaps you work as a live-in nurse or a live-in au pair or a live-in teacher or tutor or a
00:05:06.520 | live-in chauffeur or a live-in butler.
00:05:10.640 | These are all different just common jobs that provide for you, that where housing is provided
00:05:17.960 | for you as part of your employment compensation.
00:05:21.120 | These things can be very, very efficient.
00:05:25.620 | Very efficient tax-wise, very efficient for you in terms of your lifestyle and they really
00:05:31.920 | can provide a pleasurable, pleasing lifestyle.
00:05:36.200 | So that's it.
00:05:37.200 | It's very simple.
00:05:38.200 | Look around and see is there a way that you can get your housing provided by your work,
00:05:43.520 | by your employer, by your job.
00:05:46.820 | If there is, consider pursuing an opportunity like that.
00:05:52.960 | The opportunities are out there.
00:05:54.620 | You just got to look for them.
00:05:56.340 | Remember that just because you're doing something like this doesn't mean you can't also build
00:06:00.320 | wealth.
00:06:02.200 | Just because you're living as a live-in au pair or a live-in butler, that doesn't mean
00:06:08.320 | that you can't also develop for yourself a huge investment portfolio of houses that are
00:06:15.440 | all rented out.
00:06:17.160 | Just means that you're satisfying your need for a place to live with your employment and
00:06:22.800 | you're doing it in a very efficient way.
00:06:25.120 | I think there's a lot of value in considering something like this.
00:06:29.360 | So look for it, see if there's an opportunity that would fit you and perhaps that will help
00:06:33.880 | you to earn more, spend less and have more money to invest.
00:06:40.280 | Thank you for listening.
00:06:41.280 | You've honored me with your time and attention and I'm grateful for that.
00:06:45.520 | And I hope that I've effectively served you today with some ideas and strategies and tactics
00:06:50.320 | and techniques and tools that will help move you towards your goals.
00:06:55.040 | Before you go, three simple requests.
00:06:57.520 | One, if there's an idea that's been helpful to you in today's show, make a plan to take
00:07:03.160 | action on it.
00:07:05.200 | Listening does lead to learning, but learning in and of itself doesn't automatically lead
00:07:10.600 | to a life change.
00:07:12.960 | It's action that leads to a life change.
00:07:16.920 | So take action.
00:07:18.560 | Two, take something that was helpful to you in today's show and share it with somebody
00:07:24.240 | that you care about.
00:07:25.840 | I'm depending on you to be a co-laborer with me in helping me to propagate the message
00:07:33.000 | that I'm seeking to share.
00:07:35.480 | That helps the person that you are engaging with.
00:07:38.960 | And it also helps you because teaching others is one of the most effective ways for you
00:07:43.600 | to learn and for you to cement your learning.
00:07:48.200 | Three, if there's an idea that's been specifically helpful to you and if you're gaining financial
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