So we already established that I am deeply in debt (which TOTALLY SUCKS by the way). But that doesn't stop me from aspiring to be financially free by the time I reach 30.
Last year I ordered a video game from www.richdad.com a PC video game called "Cashflow the E-Game". The game is basically like an electronic version of Monopoly wherein you go around a board and collect money, etc. But what makes it much cooler than the old-school Monopoly game is that in order to win the game your successful investments and businesses must be the ones that will cover your monthly expenses.
In short:
To win Cashflow the E-Game your Passive Income and/or Portfolio Income must EXCEED your Monthly Expenses
And once your passive income exceeds your expenses, you can now kiss your job goodbye (aka go on retirement) and pursue your innermost childhood dreams, like being a Power Ranger (lol!).
In Robert Kiyosaki's "Rich Dad, Poor Dad" universe, there are three types of income:
- Earned Income (aka Active Income) - income from a your job
- Portfolio Income - income from gains in the stock market or dividends from companies
- Passive Income - income from Real Estate, book royalties, music royalties (I am a frustrated rocker by the way), royalties from TV shows if you are a TV star (like the cast of FRIENDS), patents from your inventions (like a real-life Gundam)
WARNING: Articles posted in this blog are from my actual life experiences and opinions. These do not guarantee a life of riches, alleviation of poverty, or making the world a better place. I am NOT LIABLE if you follow any of the articles posted in this blog and got poor.
INVEST AT YOUR OWN RISK. YOU ARE RESPONSIBLE FOR YOUR OWN DESTINY.
