subject: Earn Passive Income Part Time! [print this page] If I want to be rich and wealthy, I have to change my thinking to invest in assets that generate passive income. Getting rich has nothing to do with how much they earn. This is what I have learned from the book Rich Dad Poor Dad by Robert Kiyosaki. If I had won a lot and spend on luxury items, would be simply wasting my chance to accumulate wealth. In fact, I lost to someone who had earned much less and invest in assets that generate revenue liabilities. In the long run, would be able to accumulate more wealth than me.
Because you can invest in assets for passive income, you may invest in assets that generate passive time?
Before you dig into the details, we will have a common understanding of what is passive time. Passive time I define as time gained to accomplish things with little or no human intervention. As in the case of passive income, gains with little or no human intervention. For example, when investing in a property to collect rental income, there is little or no work required on my part to earn that income.
Based on my definition of passive time, there are assets that generate passive time? To answer this question, look at the example of a washing machine. As we all know, a washing machine to help do the laundry. But it helps to generate passive time too!
First, a laundry washer automatically after you choose the wash and put in operation. This means I can be doing other things while the washer is washing clothes. Passive time is gained because the washer is washing clothes automatically. All I need is to invest a little time to choose the option of washing and putting into operation.
Second, the speed of a washing machine to the washing process. Imagine if I were to wash clothes by hand, I would have to spend much longer than the washer. In this sense, passive time is gained because now I can do the same amount of work in less time. All you have to do is invest some time to choose, purchase and install a washing machine.
In other words, an asset such as a washing machine that automates a manual process is considered to generate passive time. In addition, an asset such as a washing machine that improves efficiency by speeding up the process time is considered passive. Therefore, you should be looking for assets with these two characteristics to generate passive time.
Since we already know how to identify an asset that generates passive income, the next step is how to select the relevant assets to fit into my life so I can earn passive time. Before that, let me explain what I mean by relevant asset.
A washer not matter if I use it to wash my clothes. When I use it to wash my clothes, I'm earning passive time. If you do not wash with everyone, then it is a responsibility, not passive time wins. Like if I have a property, I have to rent it for passive income. If you do not rent or no rent, then I do not earn passive income. In this case, the property is a liability based on my understanding of the book Rich Dad Poor Dad, Robert Kiyosaki by.
To be able to identify relevant assets, the first thing to do is identify all the manual processes in my daily life that can be automatic or speed or both. This means I have to maintain a time statements like I need to maintain a personal financial statements. In the financial statements help identify how to spend my money. Similarly, a time of statements help to identify how I spend my time. In short, time is a statement as a record of all my daily activities.
Probably need to record all my daily activities for a few months to identify how I spend my time. On the basis of the list of things I'm always doing, I have to filter through the activities and see if I can automate or speed up some of my daily activities by investing in certain assets that generate passive time. In this way, I can identify the relevant assets to invest in.
Why focus on learning how to invest so much time? Well, time is one of two things that are available that I can invest to create wealth based on my understanding of the Rich Dad series by Robert Kiyosaki. Money than others. Since I need more time to invest to create wealth, I have to learn to invest time to gain more passive time!
