Rich dad has this one famous line. A person can be rich but he might not be wealthy.
What's the difference...
A 14 year old teen once told me she doesn't want to be rich (In mandarin, she mean she doesn't want to have money). I was surprised. I asked why?
She told me even if you have RM2.00, you have money but that's not enough. Hmn.... intelligent kid.
A person who has RM1 million with a monthly expense of RM100,000 will have a 10-month wealth. Is that wealthy?
Well, the 10-month wealth will not last him a life time. The millionaire has a problem?
What's the difference...
A 14 year old teen once told me she doesn't want to be rich (In mandarin, she mean she doesn't want to have money). I was surprised. I asked why?
She told me even if you have RM2.00, you have money but that's not enough. Hmn.... intelligent kid.
A person who has RM1 million with a monthly expense of RM100,000 will have a 10-month wealth. Is that wealthy?
Well, the 10-month wealth will not last him a life time. The millionaire has a problem?
If the millionaire has a passive income of RM100,000 a month will probably solve his problem.
But what is passive income? Passive income is income streams that keep coming to you even if you don't want it. Cool? Passive income do not require our labour to produce it. Yes, we might need to set it up though. We can work hard to set it up once and enjoy the fruits for the rest of our lives. Isn't it good.
The next question is, is that possible?
Think of how aeroplanes transport people around the world. Think of how people landed on the moon.
To create passive income, we need to accumulate assets that can produce passive income. So what are the assets that generate passive income?
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