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ARE YOU READY TO BUILD YOUR PASSIVE INCOME LIFESTYLE?

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Assets Pay For Lifestyle And Luxuries. Period.

This is number #1 rule to build and live a Passive Income Lifestyle:

always ensure that your assets pay for your lifestyle and your luxuries, and not just put everything and anything on your credit card/tab or from your earned income.

Robert Kiyosaki put it in the best and simplest term to explain what an asset is, in his Rich Dad Poor Dad series:

An asset puts money in your pocket; liabilities take money out of your pocket.

You must be able to identify what is an asset, and what it does, before you can build, buy and acquire more. An asset puts money in your pocket via rental/lease income, dividend or royalties. Assets are businesses, properties, real estate or intellectual properties, be it in full (full ownership) or parts of (such as stocks or shares).

As assets puts money in your pocket periodically, what the rich does is to ensure that their assets provides the income to sustain the level of lifestyle and luxuries they wish to have.

Financially and personally, I find that if you spend your hard earned money and income on lifestyle and luxuries, it isn’t sustainable, because if you want to buy more luxuries and afford continued lifestyle, you then need to earn more income – I prefer to be a bit more strategic, and use my hard earn money to FIRST buy, build and acquire my assets that can fund my lifestyle and luxuries.

When the passive income from my assets can sustain my lifestyle and luxuries, then I have options to take any surplus from earnings from income or from assets to invest in more assets, and this is how the rich get richer – just keep identifying and acquiring more and more assets that puts more and more money in my pocket.

If you’re finding that you have insufficient every month, buying and acquiring assets may not be your first focus, you may first have to ruthlessly cut out unnecessary expenses and combine it with the pursuit of:

  • Passive Income Internet Businesses (PIIB)
  • Passive Income Investing (PII)

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[…] between, but ensure that you do not spend more than what you get in passive income. Remember, only assets are allowed to pay for lifestyle and luxury – never out of […]

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[…] They likely paid for it from passive / portfolio income generated from their assets, totally guilt free. Now if your assets are already funding the lifestyle and luxuries you want, go for it. […]

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[…] Assets pays for lifestyle and luxuries. Period. You do not see the rich paying for their lifestyle or luxury items with credit or from a job. Assets are businesses, stock, bonds, intellectual property that constantly put money into their pockets. […]

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[…] don’t really matter; (2) spend on things that actually matter and most important of all, (3) building your passive income streams to fund your spending. Of course, to not spend more than what you earn actively or […]

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