Passive Income
The idea of passive income is pretty fascinating. Imagine having income directly fed to your account without you having to work day-to-day, week-to-week. This idea is precisely what enabled the new rise of millionaires around the globe. Elon Musk did not become the wealthiest man exclusively due to his current company. He supplanted his wealth, essentially developing multiple channels and streames for it, and over time it multiplied and paid enormous dividends. Robert Kiyosaki, in his famous book “Rich Dad Poor Dad”, talks about two ways to earn money. One is by being a specialist in any particular niche. This path requires studying hard, earning some degrees, maybe grabbing a PHD, and establishing yourself as a specialist in a very narrow field. You get a salaried income, that will be sufficient in getting through the month but offers little to nothing in terms of efficient savings. Such people are bound by a monthly paycheck. The 9 to 5 tumultuous routine becomes chains as one is c...