INCOME STREAMS

It is a common say today that there is no job security whatsoever, that is
true worldwide. The civilized countries of the world are not left out.
They all downsize. So what's the hope of an average employee who only
keeps the 9 to 5 grind as the only source of income?
The first objective for such people is to get out of rat race and move
onto financial fast track, then to achieve their dream while they're
on financial fast track.
But before you talk about financial fast track, how do you get out of
rat race first?
To get out of rat race, you must have equal or more passive income
than your monthly expenses.
In other words, your passive income must be enough to cover your
monthly expenses before you can move onto financial fast track.
Like everyone else, you have your own profession. You have a job and
you receive paycheck at a fixed time interval. It's what you do
differently that determines how fast you get out of rat race.
But how do you accumulate enough passive income to get out from rat race?
There are only two ways to achieve this; Robert Kiyosaki in his book
Rich Dad Poor Dad has pointed out that we live in an age where we must
ensure that we have Multiple Sources of Income. He correctly
identified four ways of earning money:
1. Employment (i.e. a normal traditional 'job')
2. Self Employment (working for yourself)
3. Business (having a 'system' that makes money)
4. Investment (earning money of accumulated capital)
Kiyosaki argues that an individual seeking financial freedom should try to
position himself in both nos. (3) and (4), which is exactly what the rich
do - they either own a business (its management can be outsourced at a
cost
to a professional manager), or invest surplus capital in other people's
business - and both these do not require an individual to work (i.e. trade
time for money).
The point is basically to be free from being wholly dependent of an
employer.
A wise man does not work for money, but lets money work for him.
So to get out of rat race, the trick is to accumulate as many assets
as possible by investing in money opportunities that appear around you.
You know very clearly what asset is and what liability is. Once you
know the difference, you focus on accumulating assets rather than
liabilities.
The feeling is great when you are able to get out of rat race and move
onto financial fast track. No words can describe my feelings when I
first got out of rat race.
Why?
When you're on financial fast track, money is no problem as it will
come regardless of whether you work or not. You do not depend on a job
to receive your money anymore. You are totally free to do what you love.
So its time to forget the golden watch and the dream of easy sweet
retirement at 65.