How Much Formula For A 6 Month Old Eating Solids Passive Income? The Basics

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Passive Income? The Basics

“Rich Dad Poor Dad” Guru Popularized “Rat Race” Robert Kiyosaki is most of us when we have to get up and go to work every morning.

While many of us may be happy with this situation, very few understand what we are doing with our lives and think there could be a better way to make a living and get by.

A job is essentially selling your time for money at a fixed rate, which is your salary. In order for the economy as a whole to function, the employer buys your time and gets back more than what it pays you, hence the old adage: “You work to make your employer rich”.

To break free from this “linear” method of earning a living, you must learn to supplement your income with “passive additional income streams”. Complementary because they can be in addition to your salary and passive because they “take care of themselves” and work in the “background” of your life.

Passive income usually involves a bit of work to create, and then it can generate regular income (which can be forever!) with a bit of work to maintain it.

The best, although not the easiest, example of passive income is renting out real estate. The disadvantage of this is that you have a large initial capital outlay. True passive income starts with no spending money and grows into significant income streams over time.

The idea is that when you rent out a property, the tenants pay you rent on a regular basis, so you can actually figure out how much you’re making each month. This is fixed passive income. The initial ‘work’ is that you have to set up the rental space with furniture, etc., decorate it and then advertise it.

As a bonus, when the real estate market is buoyant, you get both capital appreciation and rent on the property, so it’s doubly good. However, capital appreciation is not part of the passive income equation.

As stated above, you will need to do some work to keep the project going – replacing furniture, paying bills and maintaining the property, but overall the work is minimal – the important thing is that it doesn’t require constant attention so you can go on holiday and still earn rent from your property. This is the real benefit of passive income – it works when you don’t!

Another example of passive income is buying and selling stocks and shares. Now, I know there is risk involved (as many passive income ventures do), but the idea is simple. Buy and hold shares in a specific company that you are pretty sure will be around for years to come.

The important thing to learn here is that the passive part of income is any dividend paid on the stock, not the appreciation of the stock. As in the real estate example, the “capital appreciation” part of the equation can increase significantly, but the passive part is in regular dividend payments. They vary, so this model is not as fixed as the rent in the example above.

Both examples require a lot of money, but they are not the only examples.

Now that you are aware of the term “passive income” as it relates to money, you can start thinking about ways to make money without having to “work” for it!

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