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Luke Morgan is a passive income investor who has built his portfolio to over $2 million in assets providing him with $28,000 in monthly income.
Today Luke breaks down all the investing mistakes he made, including losing $500,000 in a span of a few months. He gives us a blueprint into building wealth intentionally, how to avoid common pitfalls, and most importantly how to change your mindset to help you attain true financial freedom.
Today Luke will cover:
🔹 Mindset needed for long-term investing & wealth generation
🔹 Real-estate and the hidden costs of homeownership
🔹 Pitfalls of chasing status and material possessions
🔹 How to get started with passive income investing
🔹 How to navigate risk
⏱️ Timestamps:
00:00:00 How to change your mindset
00:04:15 Introduction to Luke and passive income investing
00:07:37 Building a $2,000,000 portfolio with $28,000 monthly passive income
00:10:12 Growth mode with passive income
00:11:10 Enjoying money now
00:14:21 Path to investing: real-estate & cannabis
00:19:52 Early wins in investing leading to a dangerous mindset
00:24:36 Learning to be content and staying away from greed & envy
00:30:43 Simplest way to get started with investing (don’t lose $500,000 like Luke)
00:38:51 Simple investment strategy to make your kids millionaires
00:44:04 Social media’s negative effects on our perception of finances for our youth
00:49:40 Using social media with intent and purpose
00:52:54 Just start today
00:55:00 Understanding that Real-estate is a liability
01:06:17 Wealthsimple & Questrade for investing in Canada
01:12:41 Turning liabilities into assets
