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:

Orkoiyot said...

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

J 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..

Pebbles said...

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

J 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.

J 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.