My memory of RDPD was that it preaches getting assets which generate income, not that your management of those assets would be passive. Though obviously it also did have a subtext of "scale some kind of assets that generate income to a certain point and you can pay someone else to do more of the grunt work while you look into a new opportunity."
replyYou’re right. Books like the Four Hour Workweek and Escape From Cubicle Nation were guides to passive income twenty years ago.
replyIt’s not totally risk-free income (but what is) but a decent pile invested sensibly makes for pretty good passive income depending on your goals.
replynow where do you get that pile to invest? I have a pile invested - but I'm close to retirement and it took me many years to save it up.
replyBy working and investing. More successfully at some points than others. But you’re totally right that different people are better set up and more or less inclined to move on from a job than others.
replyYes, it was the exact same scheme. Rich Dad Poor Dad was basically "Buy lots of cheap, crappy houses and become a slum lord" expanded into thousands of pages of books, seminars, and self help guides.
replyand Kiyosaki has declared bankruptcy at least once!
replyThere really should be a special category for business books written by people who’ve gone bankrupt. I know at least two well known examples, but there’s got to be a whole lot more.
replyDave Ramsey went bankrupt but to be fair he incorporates it into his teaching.
reply“Hear are the things that led me to bankruptcy, and here are the things I did to climb out of it and become financially stable again.”
I've been hearing about "passive income" for at least the last 10 years, and I reckon it goes back further than that.
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