Wednesday, May 31, 2006

Passive vs Active Income

I am still learning how to increase my streams of passive income. After all those are the avenues of income that make one rich.

Apart from trading in stocks (passive income: dividends and capital gains), I am now looking at other means, but the initial investment for such ventures as real estate are not low.

Anyhow, I hope to have doubled if not tripled my annual passive income by the end of the year.

5 comments:

Kibet said...

Why do u suggest that passive income is what makes one rich?

The Alpha Quadrant said...

Passive income doesn't make one rich..

I think it is an AVENUE/PATH.

One of the things one can do to increase their means of living.

Then other things like owning a successful business, a phenomenal patent..

Lomel said...

Have you considered minimizing your living expenses. Even if you triple your income and your expenses are high, you wont go far.

The Alpha Quadrant said...

Of course living (way?) below your means is an important aspect of wealth creation.
I generally attempt to ensure that i save as well as reduce expenditure by putting
But my current focus in increasing passive income.

The Alpha Quadrant said...

my previous comment didn't make sense:

Of course living (way?) below your means is an important aspect of wealth creation.
I generally attempt to ensure that i save as well as reduce expenditure by putting money aside for investment and savings before working on a budget.

But my current focus in increasing passive income.