Why Entrepreneurs Making $1M+ Still Have No Passive Income

Most entrepreneurs spend years building a successful business, but what if that business is also the thing keeping them trapped? Russ Morgan reveals why building an operating business alone might never create true financial freedom and explains the second business entrepreneurs need to build to turn active income into lasting passive income. He breaks down the three components behind building an investment business, explains the “earn, store, deploy, repeat” framework, and clarifies how entrepreneurs can both keep money growing and be ready for opportunities.

Two businesses every entrepreneur needs to build

The system for turning active income into passive income

Why financial freedom starts with defining your finish line

Why Maxing Out Your 401(k) Hurts High Income Earners Most

You’ve been told that maxing out your 401(k) is the smartest financial move, but have you ever looked at the math behind the strategy? Joey Mure breaks down the assumptions behind traditional retirement planning and why the strategy may not create the freedom you actually want. Joey shares four overlooked challenges that can impact your wealth, flexibility, and ability to access your money when opportunities arise. He also explores why building a retirement account balance may not be the same as creating true financial freedom.

The four hidden challenges of relying on your 401(k)

Why retirement account balances don’t always equal financial freedom

The difference between accumulating money and building cash flow

What CPAs Get Wrong About Infinite Banking (ft. Anthony J. Faso)

What happens when a CPA evaluates Infinite Banking like any other financial product? In this episode, Russ and Joey sit down with Anthony J. Faso to explore what CPAs may be getting wrong about Infinite Banking, why he changed his perspective after the financial crisis, and how his experience eventually led him to leave his CPA firm and focus full-time on helping people implement Infinite Banking.

Why evaluating Infinite Banking solely by rate of return can miss the bigger picture

How liquidity can create opportunities for entrepreneurs during difficult markets

Why simply taking a policy loan does not create wealth

Anthony J. Faso

Anthony J. Faso is a self-proclaimed “Recovering CPA.” He was born and raised in Las Vegas, NV. After serving in the Army, he graduated with a degree in accounting from UNLV. After working for the accounting firm PricewaterhouseCoopers (PwC) and owning his own firm, Anthony now focuses his practice on teaching his clients the Infinite Banking Concept.

Entrepreneurs Are Terrible Investors… Until They Learn This

Entrepreneurs are wired to solve problems, take risks, and believe they can make almost anything work. But those same strengths can become dangerous when investing. Russ and Joey reveal the mindset shift that separates building a business from building wealth and why optimism can become your biggest investing weakness. In this July Passive Income Report, they compare the entrepreneur mindset with the investor mindset and share examples from their portfolio. Mentioned in this episode: The Entrepreneur Roller Coaster by Darren Hardy - https://store.darrenhardy.com/products/the-entrepreneur-roller-coaster July 2026 Income At-A-Glance: Gross Income for July: $59,099.00 Total Expenses for July: $14,108.00 Total Net Profit for July: $44,991.00 Difference b/t June & July: $883.00

The Problem in Becoming Your Own Banker by Nelson Nash

What if the biggest problem in your finances isn’t your interest rate but where your attention is focused? In this episode, Russ and Joey continue their Becoming Your Own Banker book review by exploring Nelson Nash’s concept of “the problem.” The hosts explain why many people spend their time chasing better rates on small amounts of money saved while ignoring the larger financial environment where most of their money actually flows.

Why interest rates may not be the most important financial number

What Nelson Nash’s airplane analogy reveals about money

How to create a system that puts your money back to work

Why So Many Professional Athletes End Up Broke (And How to Avoid It) | Dan Brisse

What happens when a professional athlete’s career ends and then the income ends too? Dan Brisse spent nearly 15 years as a professional snowboarder watching fellow athletes lose their homes, cars, and financial stability after their careers ended. That forced him to think differently about money. Instead of waiting until retirement, Dan learned how to turn the income he earned as an athlete into assets that could generate cash flow and give him greater control over his future.

Why athletes need a financial plan beyond their athletic career

How to evaluate a real estate deal before investing

Why investment losses can become valuable lessons

Dan Brisse

Dan Brisse is the co-founder & Managing Partner at Granite Towers Equity Group and oversees operations, acquisitions, investor relations, and asset management. ​ As a professional snowboarder for over 13 years, Dan took home multiple X Games gold medals and was known as one of the top urban snowboarders in the world. His drive for excellence and success can be seen in Granite Towers' real estate portfolio.

Why Should I Pay Interest to Borrow My Own Money?

Why would anyone willingly pay interest to access money they already have? In this episode, Russ and Joey continue their Becoming Your Own Banker book review by explaining Nelson Nash’s grocery store example to address one of the most common questions about Infinite Banking. They break down the surprising answer behind the question and reveal why this mindset shift can completely change how you think about money, ownership, and building wealth.

Why paying interest can actually benefit your financial system

How the grocery store example changes the way you think about money

Why discipline is the key to becoming your own banker

We Took a Month Off....and Our Passive Income Kept Working

What would happen if you disappeared for 30 days? Would your income keep coming in? Russ and Joey reveal what their month-long sabbatical taught them about passive income, financial freedom, and why the true goal isn’t more money but more control over your time. The hosts tell of how their $44,108 in passive income allowed them to step away from work, travel through Europe, and be fully present with their families. Today's discussion emphasizes that building passive income is about more than reaching a financial number—it is about creating the ability to choose how you spend your time, especially during the moments that cannot be recreated later. Top three things you will learn: Why passive income provides more than financial security Why financial freedom is really about controlling your calendar The biggest return on passive income June 2026 Income At-A-Glance: Gross Income for June: $63,048.00 Total Expenses for June: $18,940.00 Total Net Profit for June: $44,108.00 Difference b/t May & June: $8,867.00 % of net profit to overall gross revenue: 70%

The Role of Imagination in Becoming Your Own Banker by Nelson Nash

What if the biggest thing standing between you and your financial goals isn’t money but your ability to imagine what’s possible? In this episode, Russ and Joey continue their review of Nelson Nash’s Becoming Your Own Banker by exploring a powerful lesson on imagination and why the ability to think creatively about your future could completely change how you approach wealth building.

Why imagination is a critical part of wealth building

How to train yourself to think creatively about money

Why becoming your own banker requires you to take control

What Does Infinite Banking Look Like After You're Financially Free?

Everyone wants to know how to become financially free, but few people ask what happens after they get there. In this episode, Russ Morgan and Joey Mure reveal why financial freedom is not the finish line. The conversation reveals how Infinite Banking continues to play a role even after one achieves financial freedom. Russ and Joey explain how their banking system acts as a hub for excess cash flow, helping them store capital, manage windfalls, handle lower-income months, and stay prepared for future opportunities. They discuss why financial freedom is not just about replacing income, but about creating a system that protects wealth, preserves flexibility, and allows future generations to benefit from the financial foundation being built today. Top three things you will learn: Why financially free people should not spend 100% of their passive income How Infinite Banking continues after reaching financial freedom How to handle months when passive income falls short May 2026 Income At-A-Glance: Gross Income for May: $56,081.00 Total Expenses for May: $20,840.00 Total Net Profit for May: $35,241.00 Difference b/t April & May: ($7,089,00) % of net profit to overall gross revenue: 63%

The Disciplines Required for Becoming Your Own Banker by Nelson Nash

What if the biggest obstacle between you and financial freedom isn’t income but how you use your money? Most people think becoming wealthy is about earning more, saving more, or finding the perfect investment. But Nelson Nash challenged that entire way of thinking. In this episode, Russ and Joey are revisiting Becoming Your Own Banker by Nelson Nash, breaking down the foundational principles of controlling your money instead of handing over the banking function to someone else. They explain why becoming your own banker is not simply about buying a life insurance policy, but about creating a system where money remains in motion, allowing individuals to maintain control over their cash flow while still accessing capital for opportunities.

Why understanding how banking works changes the way you build wealth

Why becoming your own banker requires discipline, not just knowledge

How to keep your money working instead of letting it sit idle

How to Avoid Burnout as an Entrepreneur (ft. Tim Francis)

What if burnout isn’t caused by working too hard but by working on the wrong things for too long? In this episode, Tim Francis joins Russ and Joey to share the unexpected turning point that forced him to rethink success, productivity, and the role of the entrepreneur in their own life. From financial collapse and physical breakdown to rebuilding through systems and delegation, this conversation reveals what it really takes to protect your energy while scaling a business.

Burnout is often a systems problem, not a workload problem

Eliminate, automate, delegate is the core framework for time freedom

The entrepreneur is the number one asset in any business

Tim Francis

Tim Francis is an award-winning entrepreneur from Canada and the founder of ProfitFactory.com and GreatAssistant.com. Today, Tim helps entrepreneurs transition from Business Operator to Business Owner, helping them successfully arrange, then delegate to a production team around them. Entrepreneurs appreciate their newfound freedom to work ON the business, take time off, travel, or start other ventures.

We Lost Money on 4 Investments... Here's Why We're Not Worried.

Four investments lost money in April 2026, but Russ and Joey explain why that’s not a problem and what it teaches about real-world investing. In this episode, Russ and Joey break down their April 2026 passive income report, describing the reality of running a diversified investment portfolio. While 12 investments generated positive returns, four investments lost money, and three had neutral performance. They discuss how timing and seasonality affect returns, particularly in short-term rentals. Despite losses in some ventures like digital websites and niche startups, Russ and Joey emphasize that learning from each investment is key. They also highlight the importance of filtering deals, understanding assumptions, and investing with confidence rather than emotion. This episode offers insights into evaluating investment operators, managing expectations for cash flow, and creating a portfolio that can withstand occasional losses. Top three things you will learn: Winning portfolios don’t require every investment to succeed Cash flow is inherently lumpy Why operator selection is more important than asset selection April 2026 Income At-A-Glance: Gross Income for April: $64,588.00 Total Expenses for April: $22,258.00 Total Net Profit for April: $42,330.00 Difference b/t March & April: ($6,725.00) % of net profit to overall gross revenue: 65%

Do Not Try Mid-term Rentals WITHOUT Watching This Video (ft. Abi Horton)

Most investors think mid-term rentals are just another Airbnb strategy until they try it and realize the model works completely differently. In this episode, Abi Horton joins Russ and Joey to break down how mid-term rentals actually operate, who they work best for, and the systems that make them either highly profitable or a major mistake if done wrong. Abi shares why she believes mid-term rentals are the sweet spot for investors who want strong ROI without the operational intensity of short-term rentals. She explains how they create consistent occupancy while reducing turnover costs and guest management headaches.

Why mid-term rentals have strong ROI potential

Why there's a huge demand for mid-term rentals

How matching systems outperform listing platforms

Abi Horton

Abi Horton is a voice-over artist and a mid-term rental specialist. Having worked directly with families who need housing and landlords trying to fill their properties, Abi decided to build Aros. This platform connects landlords with high-quality, long-stay housing requests from insurance and corporate clients.

The High Income Poverty Trap | Rich on Paper, Broke in Reality (ft. Tait Duryea)

Think a six-figure salary means you’re rich? Think again. In this episode, Tait Duryea joins Russ and Joey to break down the reality of the high income poverty trap, where earning a six-figure salary or more doesn’t automatically lead to financial freedom. He explains why many high-income earners feel “rich on paper but broke in reality.” Tait shares strategies for redirecting high-income earnings into real assets, passive income streams, and tax-efficient investments. He discusses practical examples, including real estate and oil & gas investments, highlighting how these tools can help create sustainable cash flow and grow net worth over time.

High income doesn’t guarantee financial freedom

How to redirect high income into real assets and passive income streams

Mindset and systems matter as much as income

Tait Duryea

Tait Duryea is an experienced airline captain. While aviation was his primary career choice, real estate always held a special allure. Fortunately, Tait has been able to find success in both. Since joining a major airline in 2010, Tait has gained over a decade of experience in a diverse range of real estate investing.

The Real Estate Crash No One Saw Coming with Neal Bawa

What caused the multifamily market crash that blindsided most investors? In this episode, Russ and Joey sit down with Neal Bawa, a data-driven real estate expert, to discuss the multifamily market crash that caught many investors off guard. Neal shares insights on how the combination of rising interest rates, oversupply, and assumptions about cash flow has caused property values to drop 20–30% across the U.S., creating both challenges and opportunities for investors.

The real cause of the multifamily market crash

How investors and operators can respond strategically

How to identify future opportunities in a lagging market

Neal Bawa

Neal Bawa is CEO and Founder at Grocapitus, a commercial real estate investment company. He is known as the Mad Scientist of Multifamily and one of the most in-demand speakers in commercial real estate. He is a data-driven guru, a process freak, and an outsourcing expert. He treats his multifamily portfolio as an ongoing experiment in efficiency and optimization.

How to Use AI to Make Money, Save Time, and Be More Productive with Mike Koenigs

What if AI could handle 85% of your daily work and free you to focus on the tasks that truly matter? In this episode, Mike Koenigs joins Russ and Joey to discuss strategies for leveraging AI to save time, increase productivity, and grow your business. Mike shares practical ways to integrate AI into daily workflows, mentioning tools like Wispr Flow, NotebookLM for centralized knowledge, and Claude/Codex for automating processes. Beyond tools, Mike talks about the mindset shift required to trust AI with repetitive tasks, give it access to relevant data, and learn to relinquish control but maintain oversight. He also shares real-world examples from NASA and private equity that show how AI can accelerate problem-solving and content creation.

How to use AI to automate repetitive tasks

The best AI tools and workflows for business communication, content, and operations

The mindset shifts necessary to optimize productivity and scale efficiently with AI

Mike Koenigs

Mike Koenigs is a Minnesota kid from a town of 763 who barely passed high school but taught himself to code at 14. He's also a stage 3a colorectal cancer survivor and is now 14 years cancer-free. That experience changed everything. Mike believes that when you face your mortality, you can't play small anymore.

The Active Income Bridge: How to Build a Coaching Business That Funds Your Financial Freedom with Zander Fryer

Do you want to turn your skills into a business that funds your freedom? In this episode, Zander Fryer joins Russ and Joey to discuss the blueprint for creating a coaching business that generates sustainable income while supporting financial freedom. He shares practical steps for turning expertise into a scalable business, balancing active income with long-term wealth creation. Zander explains how to structure services, identify ideal clients, and leverage time effectively to maximize revenue. He also discusses the mindset shifts required to transition from trading time for money to building a system that supports autonomy. He mentions proven strategies for coaches at all levels.

How to structure a coaching business to generate reliable active income that can fund financial freedom

Strategies for scaling a coaching business while maintaining client acquisition and retention

Practical methods to bridge the gap between active income and passive income

Zander Fryer

Zander Fryer is a best-selling author, internationally renowned speaker, and host of the iTunes top podcast Sh*t You Don’t Learn In College. After quitting his high-paying job as a Cisco engineer, he launched High Impact Coaching to inspire and empower entrepreneurs to build successful businesses while adding value to the world.

How Smart Investors Legally Reduce Taxes Using Entities and Income Shifts with Tom Wheelwright

Do you want to learn strategies that can save you thousands, protect your wealth, and maximize the return on your investments? In this episode, Russ and Joey sit down with Tom Wheelwright, CPA, author, and expert in tax strategy for investors and business owners, to talk about the different ways smart investors legally reduce their tax burden by leveraging entities, income shifts, and the Internal Revenue Code’s incentives. Tom breaks down the difference between tax strategy and tactics, exploring how business structures can protect income and reduce taxes. He explains why proper entity setup can turn passive and active income into deductions and tax advantages, and why reinvesting in your business may be one of the most powerful tax strategies available.

Understanding the right business structure to maximize your tax incentives

The difference between tax strategy and tactics

How to organize investments to legally minimize taxes while growing wealth

Tom Wheelwright

Tom Wheelwright, CPA, is the visionary and best-selling author behind multiple companies that specialize in wealth and tax strategy. He is best known for making taxes fun, easy, and understandable, and specializes in helping entrepreneurs and investors build wealth through practical and strategic ways that permanently reduce taxes.

What $30 Billion in Investor Data Reveals About Bad Investment Decisions with Litan Yahav

Most investors don’t lose money because of bad opportunities. They lose money because emotions drive their decisions. In this episode, Litan Yahav returns to break down the fascinating trends his platform, Vyzer, is uncovering across thousands of investors and billions in tracked assets. Russ and Joey explore why investors have recently shifted from private investments back into public markets, how emotions are influencing decisions, and why people often struggle to stay disciplined during uncertain market cycles. Litan also explains how private investing has evolved over the last few years and how investors can avoid repeating costly mistakes of the 2021–2022 investment boom.

Why emotions lead investors to make poor financial decisions

How private market investing is shifting and where smart money is moving next

How data, due diligence, and objective analysis can help investors make better long-term investment decisions

Litan Yahav

Litan Yahav is the co-founder and CEO of Vyzer, a solution for investors with multiple streams of income who find themselves spending too much time managing, tracking, and monitoring their portfolios. He specializes in private market investing, portfolio analytics, and using technology and AI to simplify wealth management for investors.