Financial freedom comes from passive income from "summary" of Guide to Robert Kiyosaki’s Rich Dad Poor Dad by Instaread by Instaread
Financial freedom is the goal that many people strive for. It means being able to live comfortably and pursue your passions without being tied down by financial constraints. One key concept that can help you achieve financial freedom is the idea of passive income. Passive income is money that comes in without requiring active work on your part. It is the opposite of earned income, which requires you to trade your time and effort for money. Passive income can come from various sources, such as rental properties, dividends from stocks, or royalties from a book or invention.
The beauty of passive income is that it can provide you with a steady stream of money even when you are not actively working. This means that you can continue to earn money even while you sleep, travel, or pursue other interests. By building up passive income streams, you can gradually reduce your reliance on earned income and eventually achieve financial freedom. This is because passive income gives you the freedom to choose how you spend your time and energy, rather than being tied to a job or business that requires constant attention.
In order to build up passive income, you need to invest time, effort, and money upfront. This could mean buying rental properties, investing in dividend-paying stocks, or creating a product or service that generates royalties. While building up passive income streams may require hard work and sacrifice in the short term, the long-term benefits can be substantial. By diversifying your sources of passive income, you can create a stable financial foundation that will support you for years to come.
Passive income is not a get-rich-quick scheme. It requires patience, discipline, and a long-term perspective. However, the rewards of achieving financial freedom through passive income can be well worth the effort. By focusing on building up passive income streams, you can create a more secure and enjoyable future for yourself and your loved ones. So, if you want to achieve financial freedom, start thinking about how you can create passive income streams that will support you for the rest of your life.
