Get Rich with Passive Income - Cardone Zone with Grant Cardone
Have as much money as possible coming in from passive income. I want a check every month, how about you? I want the company to pay me and I want the real estate to pay me even if I didn’t ’t work today.
There are not a lot of options for passive income out there. You make 50k you pay 15k in taxes, you need to figure out how to get this 3k a month you’re left with into passive income.
When you buy stock you don’t need to worry about the loss it had over time because you really already lost the money when you bought the stock. You gave money for a piece of paper. Stop buying things that go up and down, you need something stable that pays dividends over time.
If you make 100k a year your goal should be another 100k matched in passive income. Ultimately you want more passive than active income.
Invest in things that stay stable. You don’t want a piece of paper you want a piece of asset. Only invest in companies that can’t be disrupted. AT&T went down because its in telecom and it got disrupted, Facebook will be disrupted, Apple will be disrupted. Just look at all things from 30 years ago that don’t exist anymore, like your mom's old phone. This is model you want to follow: work your ass off, save your money, when there is a good asset - buy it. You guys spend money on junk, I spend money on things that go up in value o
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Passive income is especially powerful because it doesn't eat up your time. The old adage "time is money" applies here; if you think about most conventional forms of earning revenue, money is simply an exchange of your time. You're paid an hourly rate or a salary for straightforward work, and the time you spend getting an education or more experience can yield higher pay rates. Passive income costs basically no time on an ongoing basis.
So true and important! Not so easy with less money, but this is the way!
Wow, just found you and I already love your attitude!
Remember your "Money Rules: #7 nothing last forever"
Apple will not be forever,
cell phones will be just like the 'car phone
old and outdated.
keep evolving,
keep learning.
Good post.........
Good post.........