Passive Income
April 23, 2008 by boyjojo
Filed under Home Business Opportunity
Robert Kiyosaki’s philosophy revolves around generating passive income through investments and continuing to build up these investments until their passive income can support you. Instead of working for money, you will have to make money work hard for you. You should seek out and buy investments that can generate income for you.
You should have heard about “Rich Dad’s CASHFLOW Quadrant”. Apparently, there are four quadrants in this diagram with four different letters, “E”, “S”, “B” and “I”.
“E” stands for “Employee”
“S” stands for “Self-employed” or “Small business owner”
“B” stands for “Business Owner”
“I” stands for “Investor”
With this philosophy, employees and the self-employed will never get rich. Passive income are for people in the “B” and “I” quadrant
Some types of passive income are as follows:
Royalties from writing a book
Royalties from a copyright patent
Earnings from Network Marketing
Earnings from AdSense or online advertisement on your websites.
Earnings from a business that does not require direct involvement from the owner
If you want to earn more, work less, and earning a passive income for your decent retirement, you’re going to have to start creating now. The sooner you start thinking about how you are going to shift your business model to create more passive income, the sooner you can achieve financial freedom.
