Thirty-Something Mom Earning $120K Per Year In Passive Income Credits These Three Books For Her Success

One of the best things about reading is that it can help readers bridge the gap between where they are in life and where they want to be. This is especially true for people who want to acquire knowledge in subjects they have no prior exposure to, such as investing. One great example is the story of 36-year-old Rachel Jimenez, who credits three books with helping her earn $120,000 per year in passive income.

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Jimenez is a CNBC contributor, investor and mother of two who has achieved financial independence by developing passive income streams and running an ETSY shop. She began her journey four years ago after realizing she was unhappy in her current job but lacking knowledge about building wealth. Rachel says that as a child, she remembers her parents buying lottery tickets and fantasizing about winning.

That is not a good investment strategy, but it led Rachel to wonder, “Why not find a way to get rich with better odds?” One of the first things she had to do was change her mindset. Like many people, Jimenez struggled with being overly harsh on herself. Jimenez credits the book “Change Your Questions, Change Your Life," by Marilee Adams.

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The book’s focal point is reexamining how internal dialogue can be self-destructive and lead to self-doubt. Rachel credits internalizing the lessons and techniques in this book with shifting her thinking away from being overly judgmental and toward being more solution-oriented. Self-confidence is the key to achieving any goal, but believing in yourself is a habit. This book helped her learn how to do it.

Once Rachel had the self-belief to pursue her dreams, she had to acquire the skill set necessary to become an effective money manager and investor. That is where "The Simple Path to Wealth" by JL Collins came in. Rachel says this book equipped her with the building blocks to establish a solid financial foundation.

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Here, she learned to live debt-free and save 50% of her income. Jimenez says the book taught her other important lessons, such as the ideal ratio of annual investment income to investment capital necessary to be financially independent (4%). It also stresses the importance of avoiding relationships with people who are bad with money, deep in debt or who spend recklessly. It's hard to go wrong following that advice.

Finally and perhaps most importantly, Rachel knew she had to figure out exactly what her ideal life looked like (and how much it would cost) before she could plan to live it. She said the book "Designing Your Life: How to Build a Well-Lived, Joyful Life" by Bill Burnett and Dave Evans was of great assistance in this regard. Having money is important, but having the life you want to live is the ultimate goal.

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It’s very hard to achieve without understanding or knowing what that life is for you. What's more, you could earn all the money you want and still be miserable if your job or life is incompatible with who you are as a person or your core values. Knowing how to achieve this balancing act can help keep you from chasing only money and turn your focus toward quality of life.

The key thing to understand here is that everyone's dream life will look and feel different. Yours will not be the same as Rachel Jimenez's. With that said, you are unlikely to achieve your dream life without careful planning, self-belief and some basic financial skills. These three books helped Rachel reach her goals and they may help you do the same.   

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