Passive Income
Make Money While You Sleep
The idea of separating time from our ability to make money may be one of the hardest concepts for us to grasp. It is also one of the most crucial to building a financial fortune. Whether you are rich or poor, are there any more hours in a day or a week?
The rich obviously do it differently.
They don’t trade an hour of their time for a minimum wage or salary. By properly structuring their business, they also limit or avoid one of the greatest destroyers of wealth that plagues the poor and middle classes: taxes.
Why complain when it is far easier to join them? Again, Robert Kiyosaki has some excellent advice for us. He suggests that we need to move as quickly as possible from the ranks of the employed and self-employed into the business and investor classes. He continues that each class has its own set of rules, and we need to learn and apply these rules if we are to be successful.
Still not convinced? Consider this: What is the significance of August 16, 1977?
Apply This Concept
August 16, 1977
This date marks the anniversary of the passing of The King of rock and roll, Elvis Presley. His estate lives on, and continues to generate enormous revenue year after year. He doesn't complain about not having the skills, or not having enough time, or not being smart enough, or that rock and roll has been replaced by another trend in music. Silently, methodically, the passive income keeps pouring in, while Elvis is in eternal sleep. It kind of pokes holes in all our excuses about why we are not wealthy yet. Time waits for no man. We should be about the business of living while we can do something about it! Start building your fortune today, brick by brick, from wherever you are.Laws of Wealth
