Cody Berman | Passive Income
@codydberman
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Passive income with digital products 💻 Real estate dabbler 🏠 Financially free by 25 💸 Grab my free guide here ⬇️
Joined April 2018
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Since I’ve reached financial independence, a lot of people have asked me “Cody, why don’t you have a bigger house? nicer car? luxury travel budget?”
The answer is this: Freedom is everything. Since I choose *not* to have those things, I never have to work again.
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This Airbnb is $80 per night in Bali.
We’re staying for 3 weeks and spending just $1700 on accommodation.
Vacations don’t have to cost thousands at an all inclusive for a 5-day stay.
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It’s ridiculous the number of people I see saying things like:
- “$100K isn’t a good salary anymore”
- “$1 Million isn’t a lot”
- “I need at least $10K/mo to live”
Go travel somewhere outside of your bubble.
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Six years ago my credit card balance was higher than my bank account.
Consistent investing pays off.
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Is $60,000/year in passive income enough to retire on?
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My net worth is
- 47% stocks
- 45% real estate
- 5% cash
- 3% crypto
What should I change?
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I know people who haven’t changed in 5+ years.
Same job.
Same conversations.
Same bars every weekend.
If you want to grow, avoid these people.
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I would rather make 50% less and have complete control of my time…
Than have a high paying job with strict work hours.
Agree or disagree?
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Last week we completed our first house flip ever and made over 6 figures in profit.
Excited to start looking for flip
#2
!
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If your mortgage rate is under 4%, it doesn’t make financial sense to pay it off early.
Agree or disagree?
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This is almost 2x my last salary…
From one property flip.
Deals are still out there in 2023.
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Check from our latest fix and flip 🏠
That’s almost double my last salary.
There are still deals in 2024.
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$274 per day…
That’s all it takes to make $100,000 in year.
Does this surprise you?
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There are houses for sale in the South and Midwest for less than $50,000… and no that’s not a typo.
Just a quick vent for when I see “wHeRe cAn I gEt a HoUsE fOr UnDeR $300k?!?!?” comments on posts 😂
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If you’re under 40, I don’t see any reason to invest in bonds.
Agree or disagree?
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I’ll have over $35,000,000 by retirement even if I never invest another dollar.
Compound interest is insane.
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America is the best place to earn money.
Europe is the best place to spend it.
Agree or disagree?
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My net worth journey since taking personal finance seriously in 2018 📈
2018: $75,000
2019: $179,000
2020: $392,000
2021: $1,035,000
2022: $1,541,000
2023: $2,375,000
Persistence pays off.
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I lived on less than $25,000…
For 3 years.
Don’t let the internet fool you.
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Is it possible for the average person to save 20%+ of their income?
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Genuine question: Why are so many investors on here obsessed with dividends?
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Would you rather be 10 years younger or get $1,000,000 in cash?
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We just bought this place for $290,000 using hard money.
Needs ~$50,000 of work.
Will list for sale at $499,999 in 3 months.
Aiming for $150,000+ profit.
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The goal is $10,000,000 net worth by 30.
I’m saving 80%+ of my income and investing it all into:
- the stock market
- real estate
- other business ventures
- crypto
I have 2 more years to get it done.
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I saved up $40,000 of FU money before I quit my job.
I was only spending ~$1200/month at the time…
So this meant I had saved up 3+ years of expenses while I tried to make something happen.
Best decision I ever made.
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Holy shit... just put in my two week notice 🤯
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Can the average person in America become a millionaire?
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If you’re in your early 20s fresh out of school making more than $50,000/year…
There’s almost no reason you shouldn’t invest at least 25% of your income.
Agree or disagree?
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The stock market earned me $230,000+ in the past year.
That’s almost 3X my last corporate salary.
Don’t sleep on the power of investing.
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Is it unreasonable for someone to save $100K by age 30?
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Do you think parents should help out their adult children financially?
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Nobody gets rich by driving a mile down the road to get cheaper gas.
The faster you focus on the “big” money levers, the faster you’ll build real wealth.
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Leasing a car is a terrible financial decision…
For 99.9% of people.
Agree or disagree?
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If you’re someone who pays off your credit card every month…
Taking advantage of credit card rewards is a no brainer.
I’ve cashed in $10,000+ of free travel.
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TODAY IS MY LAST DAY OF CORPORATE LIFE! 🎉🖕🏼
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Crypto has ruined investing for a lot of new investors.
People want 5000% returns and don’t have the patience for “boring” 10% returns.
The truth is, boring works.
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I’ll have over $35,000,000 at retirement age even if I don’t invest another dollar.
Don’t sleep on the power of compound interest.
Start investing early!
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I pay $274/month for healthcare as an entrepreneur.
Someone told me that it was “impossible” to find anything for less than $500.
What do you pay?
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Most people would go broke within a few years if they were given $1,000,000 today.
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Why does saving early matter so much?
If you can save $100K by age 25, using average historical market returns, you would have:
• $200K by 35
• $400K by 45
• $800K by 55
• $1.6M by 65
You could practically live paycheck to paycheck until retirement if you save early! 💵
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Last week we eloped on a cliff side in Bali.
It was just us two and it was more special than we could have ever imagined.
The wedding ceremony and prep + 2 videographers and a photographer cost $4,500 all-in.
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AirBnb isn’t “crashing”.
We made over $11,000 in profit on our two properties and had a 90% occupancy rate last month.
Don’t believe every headline you see.
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If health insurance is stopping you from pursuing entrepreneurship, I highly suggest you check out your state’s healthcare exchange website.
17 states have their own sites and 33 are on healthcare . gov
I pay $274 per month for health + dental with a high-deductible plan.
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55% of Americans retire with nothing.
If you invest the following amounts per day for the next 35 years you’ll have:
$10/day = $600,000
$20/day = $1,200,000
$50/day = $2,900,000
Don’t be the person who wishes they started earlier.
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Is it possible to retire early if you make less than $100,000?
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We bought this property for $200,000 and sold it 5 months later for $380,000.
- Rehab + closing = $50,000
- Debt service = $12,000
Total profit was $118,000.
That’s more than I used to make in a year at my corporate job.
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If you have $4,210…
You are richer than 50% of people in the world.
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My business recently crossed $5,000,000 in revenue.
Completely bootstrapped.
Two laptops and a vision.
You never know what’s possible until you take a chance.
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If I offered you $10M, would you take it?
Of course.
But what if there was one caveat… if you take the money, you won’t wake up tomorrow. Would you still take it?
Of course not.
That makes waking up tomorrow worth more than $10M.
Remember that.
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I quit my job when my side hustles were making $1,500 per month.
Risky or the right move?
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Becoming wealthy is more mental than tactical.
Agree or disagree?
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Finally signed the paperwork for the latest fix & flip 🏠
Purchase: $300,000
Rehab + Other Costs: $60,000
Sale: $470,000
Total Profit: $110,000
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If someone says a 401k is a scam…
They either
- Don’t understand 401ks
- Are selling you life insurance
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In line at the convenience store today…
ALL FOUR people in front of me spent over $20 on scratch tickets.
And people wonder why they can’t build wealth.
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I quit my $80,000 corporate job while I was making just $1,500/month with my side hustles.
It was scary at the time, but it ended up being the best decision I ever made.
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Live on 50% of your income.
Invest the rest.
Retire in 17 years or less.
It doesn’t have to be complicated.
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My current net worth breakdown:
45% real estate
40% stocks
10% cash
3% angel investments
2% crypto
What’s yours?
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Becoming a deca-millionaire actually isn’t that complicated.
If you can get to $1,000,000 invested by age 35…
You’ll have over $10,000,000 by retirement age without ever investing another dollar.
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You can drink and be successful.
You can watch TV and be successful.
You can wake up at 9 and be successful.
People love to glamorize the “all or nothing” approach.
But this isn’t reality.
As long as you’re moving in the right direction, that’s what matters.
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My fiancé Lauren just worked her last day in her 9-5. Excited for this next chapter! 🚀
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Every single month I’ve invested.
For the past 9 years.
The result?
Over $900,000 in investment gains.
Starting early pays off.
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Wow! A 14 year old just reached out saying he’s inspired by the idea of financial freedom and wants to get started immediately. Emails like this make my day! 👍🏼
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Every DM on LinkedIn: “Hey I see you’re crushing it. Want to hop on a 30 minute call to see how I can help you crush it even more?”
Does this horrible reach out tactic ever work? 😂
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Made $118,000 on our first flip ever today.
Purchase price: $200,000
Rehab costs: $50,000
Debt service: $12,000
Sale price: $380,000
Happy to answer any questions ⬇️
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I’ve seen people say they don’t want to start a side hustle because they don’t want to pay more taxes.
I’ve seen people say they don’t invest because they don’t want to pay more taxes.
Simple math: If you earn $100, even if $20 is taken away, you’re still $80 richer.
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You’re 22.
You have $0.
What are you doing to get to $1,000,000 before 30?
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Relative of mine invests heavily into silver and gold (like 80% of his money).
Advised me not to invest in stocks and real estate when I first started 9 years ago…
My net worth is now more than 2X his.
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Just finishing Dry January and wow the mental clarity is insane. Plus I’m down ~2% body fat.
Anybody else doing it?
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If someone makes X per year, they make “good money”.
What is X in today’s economy?
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Serious question: when shouldn’t someone have a side hustle?
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I hit $2,000,000 at age 27.
I hit $1,000,000 at age 25.
I hit $100,000 at age 22.
The point?
Positive financial habits compound.
It’s not a linear journey.
Your second, third, and twentieth $100,000 will come much quicker than the first.
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I know someone who retired with real estate in 2 year.
I know someone who retired with digital products in 3 years.
I know someone who retired with index funds in 6 years.
There are SO many different paths to early retirement.
Pick the right one for you.
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I quit my 9-5 when I was 22.
People told me I was “an idiot” for giving up my $80,000/year job.
It ended up being the best decision I ever made.
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Making $16 per day (and investing it) for 35 years will get you $1,000,000.
But so few people actually do this.
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$10,000 in passive income idea.
Let’s say you create a $10 digital product.
3 sales per day = $900 per month
That’s $10,800 per year.
From one digital product that might take you a few hours to create.
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It’s crazy to me how few people IRL ask me about what I do / how I reached FI at 25…
Instead it’s just a lot of “must be nice” and “lucky” 🤦🏼♂️
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I’ve saved 80%+ of my income for the past 5 years.
The keys were:
- House hacking
- Driving a paid off car
- Only spending on what I value
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What’s the worst piece of mainstream financial advice?
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You start with $0 in a new city.
You have one month to make $10,000.
What’s the plan?
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Toured this gem today.
WHY does anyone put carpet in a bathroom?! 😂
Wrong answers only ⬇️
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Wealth can be built with a 9-5 or through entrepreneurship.
One is safer, one has higher potential.
It’s up to you to make that decision.
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@theficouple
That’s what I thought too. Someone told me that 60k would be “living in extreme poverty” 😅
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What’s easier …. earning an extra $500 per month or spending $500 less? Why?
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Anyone else have a laundry list of business ideas that they want to try but just don’t have the time? 😅
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Joey Chestnut is worth $4,000,000.
He’s eaten ~19,200 hot dogs.
That’s $208.33 per hot dog.
If you want to become a millionaire, you just need to eat 4,800 hot dogs.
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How much money do you need every month to live comfortably?
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At what age would you consider someone retired “early”?
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I now make more in a month than my salary at my last corporate job.
Entrepreneurship isn’t for everyone, but it’s certainly the fastest way to multiply your income.
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I know I have a lot of age 20-30 followers so if that’s you, listen up.
Make as much money as possible while you still have time / energy.
Invest everything you can.
If you can maintain a massive savings rate for even a few years, you can set yourself up forever financially.
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2020 Goals:
• Contribute $50K+ to retirement accounts 💸
• Get down to 8% body fat 💪
• Take a least one memorable trip per month 🏝
What are your 2020 goals?
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Best unexpected benefit of quitting the corporate job .... 60% less laundry 😂
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Earning that first $1 outside of your day job makes you feel unstoppable.
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I lost $1,824 in a crypto investment.
Heard it was going to back a lot of NFT projects, and it didn’t.
I know someone who invested over $100,000 into this cryptocurrency.
The lessons?
1) Nobody knows the future
2) Only bet what you’re willing to lose
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I remember how excited I was to make $3 from my blog back in 2018.
How did you make your first dollar online?
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At what level of wealth do you stop using your friends Netflix account?
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I quit corporate America after 7 months. I had saved 50k and wanted to try out entrepreneurship full time.
Since I was crazy frugal at the time, I was only spending about $1k per month. This meant that 50k had bought me over 3 years of experimental freedom.
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