The Mind Of George Show

Passive Income Isn’t What You Think with Noah Rosenfarb

Episode Notes

The real ROI of business? It’s not more revenue. It’s the life you get to live.

What if the real purpose of building a business wasn’t just to scale endlessly — but to design your ideal life and exit on your own terms? In this episode, George sits down with Noah Rosenfarb — CPA, family office founder, investor, and advisor — who has helped hundreds of entrepreneurs build, exit, and live with intention.

From $750M in company exits and $1B in real estate investments, Noah shares the secrets of wealth that go far beyond money — including how to avoid common exit regrets, create true time freedom, and build wealth that supports your identity (not replaces it).

This is more than a conversation about taxes. This is a blueprint for building a business that supports your life, not consumes it.


What You’ll Learn in This Episode:

Key Takeaways:
✔️Build with the end in mind — Don’t wait until it’s too late to plan your exit. Most entrepreneurs miss the window or get trapped in the business they built.
✔️Wealth vs Money — True wealth is measured in freedom, time, and alignment, not just income.
✔️Use an Opportunity Filter — Say no quickly and only say yes to opportunities that pass your personal filters (e.g. ROI on time, alignment with lifestyle, no personal guarantees).
✔️Tax Strategy vs Tax Prep — They are not the same. You need both. And strategic tax planning yields the highest ROI per hour for 7-figure entrepreneurs.
✔️Audit your habits — Financial freedom starts by spending less than you earn and investing the difference. Sounds simple, but it’s rarely done.
✔️Identity matters — Exiting your business without building a new identity or purpose leads to depression, regret, and emptiness.
✔️Invest your time wisely — Focus on semi-passive income vehicles that don’t require your daily presence but benefit from your expertise.
 

Timestamps:
[00:00] – Why most entrepreneurs wait too long to plan their exit
[02:19] – Meet Noah Rosenfarb: $750M in exits, 5 books, and building family offices
[05:27] – The one rule for financial success (that’s not so common)
[07:35] – Noah’s “Opportunity Filter” – a 14-item checklist for decision-making
[11:35] – The #1 mistake entrepreneurs make: taxes and lack of strategy
[17:01] – Why tax strategy is the highest leverage activity for 7-figure earners
[21:04] – Best practices to prepare for windfalls or exits
[26:44] – Building a healthy relationship with money
[34:22] – Guilt vs. gratitude in spending: a personal boat story
[37:20] – The power of prudent planning: save, then ratchet up
[40:13] – Passive vs. semi-passive income (and what counts)
[43:34] – The “lottery ticket” exercise to design your ideal life
[48:58] – Where to start with financial literacy and wealth coaching
[53:54] – Why so many entrepreneurs feel regret after the exit
[56:16] – Noah’s final words: Freedom is the real exit strategy

Connect with Noah:
Book: Exit Rich Beyond Money

Services: WellThrive – tax strategy + wealth coaching for US-based entrepreneurs
Main Site: Freedom Family Office
 

Your Challenge This Week

Which question from today’s episode hit you hardest?

Want to build your business with sustainability, freedom, and a bigger purpose?

Here are 3 ways we can help:

  1. Join The Alliance – The Relationship Beats Algorithms™ community for entrepreneurs who scale with trust and connection.
  2. Apply for 1:1 Coaching – Ready to build your business with sustainability, impact, and ease? Apply here.
  3. Live Events – Get in the room where long-term success is built: mindofgeorge.com/event