In cashflow 101 and 202 boardgames, our goal is to get out of the rat race and move into the fast track. And to get out of it, we need to manage our portfolio and build passive income that is greater than our monthly expenses. How do we do that? By buying real estate rental properties, building business, royalties and other things that can increase our game passive income.
Same principle applies in real world. In order to get ourselves out of the rat race, we need to acquire or build several assets producing money or money machines. These includes a rental property, farm land, business and other income generating assets.
Stocks and mutual funds are good vehicles of investment and could make our money grow faster. However, these are all paper assets. In the end, we need to convert this assets into something physical, more realistic and something that can give us cashflow. We cannot rely our investment fully on the market money. With the current uncertainties, it is important to diversify.
If you played the board game, you’ll learn that stocks is a great way to acquire money. And when you do have, you need to buy businesses and real estate properties to get your way out of the rat race.
Website as money machine works for me. I build several websites, create great content, put adsense ads and let it work for me without me doing anything at all. They earn money 24/7 with or without me. I know there are lots of opportunities out there, you just need to open your eyes and fill the gap. Start with your own niche.
In every investment comes a certain risk. Educate yourself and learn everything you can before diving into real investment. Though it is risky, you can minimize it thru proper knowledge.
Move out your comfort zone and start buying assets, not liabilities. Happy investing!
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