There's fashion in investing circles too.
For those of us above 40, we can remember a time (before Rich Dad Poor Dad) where every other investing/trading book,seminar, or workshop will tout Millionaire this, Millionaire that.
Now? It's Passive Income this, Passive Income that...
Just like low-rise hipster pants were the rage a few years back, its now replaced by high-rise pants that accentuates the waist over the hip, this Passive Income popularity will too be replaced by another flavour of the decade. You just wait.
The Allure of Passive Income
Of course it's attractive!
Who doesn't want something without lifting a single finger for it? Can someone carry my fullpack? It's so heavy!
Who doesn't want a beautiful body without exercising and dieting for it? Just lie down and upon waking up... Wah lah!
That's where people forget...
Liposuction and guy Friday do cost money.
Passive Income is neither special nor elusive
The average working person riding the ComfortDelgro bus upon reaching 55, just need to make 1 out of 3 choices, and upon 65, will have "passive income" for life!!!
No lighting, no thunder.
That's why I am confident when everyone and anyone has passive income, it will go out of fashion...
A bit like being a Millionaire in Indonesian Rupiah terms.
An exercise on reading skills
Before I share with you the alternative path to Passive Income in my next post, here's a fun exercise for you to try out:
1) Those Passive Income opinion leaders you follow, can you tell apart those who are climbing up the mountain from those who are coming down the mountain?
2) If yes, notice the difference in goal setting and strategy employed between them?
3) Most of those who are coming down the mountain have been quite forthright in how they accumulated their capital from which their "passive incomes" were based on.
Now try identifying what are the different sources and how much of it were based on a Passive Income strategy?
Singapore Man of Leisure (welcome to my blog; just google it!
