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Focus on creating assets that generate passive income from "summary" of Rich Dad Poor Dad by Robert T. Kiyosaki,Sharon Lechter
The concept of creating assets that generate passive income is at the core of financial success. It is not enough to rely solely on earned income from a job or business. To truly achieve financial freedom, one must focus on building wealth through assets that work for you even when you are not actively working. Passive income is income that is earned with little to no effort on the part of the earner. This type of income is generated from assets such as rental properties, dividend-paying stocks, or royalties from a book or invention. By investing in assets that produce passive income, one can create a steady stream of money that continues to flow in, even when you are not physically working. One of the key advantages of passive income is that it provides financial security and stability. Unlike earned income, which can fluctuate based on factors such as job market conditions or economic trends, passive income is more predictable and reliable. This can help to cushion you against financial setbacks and provide a safety net in times of need. Additionally, passive income allows you to leverage your time and resources more effectively. By investing in assets that generate passive income, you can free up your time to focus on other pursuits, such as starting a new business, pursuing a passion project, or spending time with loved ones. This can lead to a more fulfilling and balanced life, where work is no longer the sole focus of your existence.- Focusing on creating assets that generate passive income is a powerful wealth-building strategy that can lead to financial freedom and security. By investing in assets that work for you, rather than solely relying on earned income, you can create a more stable and prosperous financial future for yourself and your loved ones.
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