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Passive Income Greater than Your Burn – This is How You Get Peace and Dignity
By Investment Moats  •  May 31, 2019

Scott Galloway is out with his new book, and in a smashing podcast, he brings up a tale about his father and his close friend:

 

What is the definition of rich?

When your Passive Income is Greater than Your Burn.

Those of you who are ages younger than 40 to 50 years old, you should be focusing on “the Top line“.

You would want this figure to be bigger and bigger.

Scott has a close friend who is a partner at the investment bank. He manages 200 investment bankers. He makes roughly $5 to $7 mil a year.

After all the taxes for staying in Manhattan, he takes home like $3.5 mil.

He has to pay alimony and child support for previous marriage, a town house, and a house in the Hampton.

Out of the $3.5 mil, he spends… $3.5 mil.

He has increase his standard of living

...
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By Investment Moats
Investment Moats is set up by Kyith Ng and have been around since 2005. He aims to share his experiences making sense of money, how money works and ways to grow his money. It hopes that by sharing his experiences, both good and bad, season investors can advice and critique his decisions and new investors can learn from them and find their own style ...
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