No matter what age you are we all dream about what life could look like and if we had lots of money, like winning the lottery, right!
So let’s get realistic for a minute or two.
I invite you to start dreaming about your perfect life.
What does it look like?
What about your perfect day?
- How does it start?
- What do you do?
- How do you spend your evenings?
How much do you earn?
- What will you do with the money?
- How does it help you and your family?
- What fun will you have with it?
- How will you ensure it never runs out?
- How can you make your money work for you?
You see the first thing I would love you to dream about is your perfect life, in other words…
What is Your Vision For Your Future?
For yourself, your family, your career or business?
Without a plan, a vision, a dream of what you would like to have in your day, your life… there is no destination.
Now I know the popular “bumper sticker” that says something like “Life is about the journey – not the destination”.
But honestly, without a destination, how will you know if where you’re heading is to your best life?
It’s like giving you the keys to a car and not knowing where to go. Eventually, you either run out of fuel and/or motivation to keep going.
So, start thinking today about your best life.
Go back to before your earlier days… what did you dream of?
So often we get caught up in our days just spinning our wheels, so deeply involved that we forget why we started in the first place.
I invite you to go back to the beginning… to dream… write down what you want, what you will do to get what you want, how much you would like to earn, to save, to invest.
Come up with some tangible numbers that have a meaning for you.
Essentially… come up with the ‘WHY’.
Why do you do what you do? Why does it bring you joy?
Then Come up With The What
The ‘WHAT’ is your income metrics, the hours you work, what you will do in your day that ensures your best future life, what you will stop doing – those habits that bog you down and stop your best life from gaining traction.
Then there is one more step you need to consider – and that is the HOW?
The ‘HOW’ cannot consist of working until you retire, then you retire and what? Live on the pension? That destination is not your best life!
The ‘HOW’ consists of a wonderful thing called PASSIVE INCOME!
It’s all well and good to be focussed on ‘the now’.
However, without at least part of your vision focussing on the future, your present will soon become your past and your dreams will remain just that – dreams!
With Passive Income, your dreams become your reality, your best life is now easier to reach, and your destination has blue skies, open highways, and without a care in the world.
You’ve probably heard of Robert Kiyosaki, and his well-known book “Rich Dad, Poor Dad”. He also penned other well-informed, intuitive and practical guides to securing your financial freedom through the use of Passive Income Strategies.
His book, “The Cashflow Quadrant” explains this further. In this particular book, he draws our attention to this concept, where a table is divided into four areas.
E and S quadrants are on the left-hand side and B and I quadrants on the right-hand side.
The above diagram illustrates this concept of Robert Kiyosaki – Cash Flow Quadrant
The goal is to progress through the quadrants and become more on the right-hand side of the table where you use leverage.
So, what do the quadrants represent?
- Employee – when you are employed by someone
- Self-employed – when you work for yourself
- Business Owner – when you work for yourself and have employees. Businesses that sell products and services
- Investor – you have real estate interests, shares and/or stocks and bonds
Active Income is defined as trading your time for money.
So, to make money you must perform a task or many. Every day you start from Zero.
Passive income is defined as not having to be present to generate income. Think real estate, stocks, bonds and other sources of passive income. You are literally making money while you sleep – 24/7.
Back to the Quadrants
Most people only live in this area.
You work for a company and trade your time for their money. If you want to earn more money, you need to trade more time.
Another option is to work for another company that pays you more for your time.
There is no passive income in this quadrant. If you don’t work, you don’t make any money.
This is one step better than an employee, but you are still trading your time for money.
You may own your own business, but really, the business owns you.
The upside is you have more personal and financial freedom than an employee.
A business indicates you have systems in place. You have others working for you as employees.
You’re not selling your time for money, but rather selling a product or service.
Put simply, you may not have to be working in the business to generate income.
This is where you really have a passive income.
Investments like real estate, shares, stocks and bonds generate an annual cashflow.
These are investments that will allow you to retire.
So, to know where you’re going, you need a strategy, a plan to move you through from the left-hand side quadrants over to the right-hand side.
Your goal needs to be to get to the investor quadrant as much as possible, as soon as possible.
We specialise in Passive Income strategies.
Your vision of your future just got brighter. And all it takes is reaching out to one of our team, to start your own road to success!
Enjoy one of our free property investing consultations to help you get on track or to continue to grow your wealth and passive income.