From Grocery Clerk to Retiring at 40: The Journey of Tim Rhode
About Tim
- Tim is the founder of One Life Fully Lived
- He has also founded Gobundance
- Tim runs affordable conferences each year for people at all levels of real estate knowledge
Nuts and Bolts
Tim is the founder of One Life Fully Lived which is an organization that changes the lives of people across the planet by teaching financial literacy and investment in real estate. His life centres around 4 things; family, health, real estate and his charity work. Tim had a tricky start in life when his parents split and he grew up in rural Idaho, in his own words he was a teenage screw up and found himself at 25 working in a grocery store with no education beyond high school. At 25 he turned things around and got a real estate license and hit the ground running. By 40 he was financially free and able to retire if he wished. He explains that the best way to success is to master your “ABC’s” These are A – have income coming in from multiple diverse sources, B – Work out what it costs you to live including taxes and vacations, C – take what’s left and use it for debt reduction and investments.
When Tim made the decision at 25 to turn his life around the main foundation of his success was education. He estimates that he’s spent approximately $200,000 on ongoing education to master mindset and financial knowledge. At 40 Tim changed from selling real estate to acquiring assets, this means he could work less and live off passive income. At this time he decided to start One Life Full Lived because he believes that even when you’re climbing up the ladder you should be giving back. As well as OLFL he has also founded Gobundance which is an organization for people who have already reached a master level of investment and are looking to network and find new opportunities.
It can be easy to get into real estate investing as a newbie using OLFL; Tim runs two conferences a year which cost $275 for 2 days. This year they are in Sacramento and Philadelphia and the people who go are from all levels of real estate experience. Tim also runs a OLFL Facebook community which can help you if you have strengths in one area of your life but are looking to improve in other areas. The community is an ecosystem to help create balance in your life. There is also the OFLF road map which teaches the basics to go from real estate starter to master, this is an online course and you don’t have to go to the conference to get access.
Tim’s courses help people create a horizontal income stream where you are received a lot of paychecks from different places. A vertical income stream is only coming from one boss and you have to wait for a payrise to get any increase. Horizontal income streams can come around when you have enough passive income to cover living costs. It’s not what you make but what you do with what you make that will make the difference. You have to be sure you’re creating income on the side of what you’re doing each day.
Top tips
- Most important habit – Getting up early and doing the miracle morning routine
- Most influential person – Dr Fred Grosse
- Most important tool -Displayed Thinking
- Most important failure – A divorce early in life
- Contact – tim@timrhode.com and onelifefullylived.org
