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Focus on creating systems that generate passive income from "summary" of The Millionaire Fastlane by MJ DeMarco
To truly understand the concept of creating systems that generate passive income, one must first recognize the distinction between active and passive income. Active income is earned through trading time for money, whether that be through a traditional job or a service-based business. Passive income, on the other hand, is income that is generated with little to no ongoing effort. The key to building wealth quickly and efficiently lies in focusing on creating systems that generate passive income. This means setting up streams of income that continue to flow in, even when you are not actively working. This concept is crucial because it allows you to break free from the time-for-money trap that keeps so many people stuck in a cycle of trading hours for dollars. By creating systems that generate passive income, you are able to leverage your time and resources in a way that maximizes your earning potential. This is the fas...
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