Tuesday, 22 January 2008

Passive Income

I came across the concept of passive income last year when I read Rich Dad, Poor Dad by Robert Kiyosaki. The paradigm shift I had after completing the book can be compared to being in Primary School and one day realising that girls and their cooties aren't that bad after all. I found that I had Poor Dad mentality when it comes to wealth; go to school, work hard, make it into university, get your degree and somehow become wealthy. I don't want that kind of life! I want excitement and adventure in my life. The thought of living a conventional life makes me want to puke my guts out.

I must say the whole idea of a passive income still scares me and I'm still not too sure how to go about it. I'm just a snot nose kid in varsity with no actual real world experience. The top seems pretty high from where I'm standing. Brian Lee's blog helps keep me focused. He's a real person who's making passive income work for him. He's not a millionaire but he's creating enough financial freedom to do what he loves (making films) without worrying that it's his bread and butter. He is working to learn and making the money he has work for him. I think that's very exciting! Doing what you love for nothing but experience and knowledge and taking what money you have and investing it in a way that allows you to have a steady income without you having to spend hours of your most precious asset (time) slaving away for some company.

So I'm taking the plunge; right here, right now. Financial freedom!!!
I'm just thinking now that most people must think the "passive" in passive income means that you can loll about doing nothing and earn money. That is not the case at all. PI takes as much effort as any other business venture (if not more) but the reward is greater because you eventually get to a phase where your business is running for 24 hours (i.e. making money 24 hours) without you having to be there for 24 hours. I don't believe God created man only to have him sit in some office for 8 hours a day wasting away his life working on projects he cares nothing for. Authors sit in an office the whole day but they're spending all that time hammering away at the craft they love more than anything in the world. If you're deep into accounting or something by all means work at it. What I hate is that people allow themselves to settle into some mediocre station in life they really don't like but end up accepting. I think one should practice the craft you love or die trying to. Then again I'm an idealist.


Anonymous said...

LOL, I've always had rich dad mentality. Work is for n00bs. :P

Charles Siboto said...

I've replaced my Poor Dad mentality with Hobbit mentality ^_^

Anonymous said...

hey charles!!!!

so i read your blog and its very interesting...you have good book taste..let me know what next you are reading:)mwah!!! anouk

Charles Siboto said...

Thank you dear girl. Pop in once in a while and see what I'm up to.