I got this video from a fellow blogger in the community. I guess he knew my stance on "passive". So would regular readers, and anyone who can think for themselves. Wait. Wait. "Nanti" lah! Ah! Got it! My trusty maggi mee pot to protect my head!
That swedish guy will have real passive income what ... he just gotta tahan until 65. They got "free" healthcare & their pensions also higher than CPF Life so can relak lah. Hohoho!
Otherwise, it's a transition --- from maybe 110% active income to 80%, 60%, 40% and finally if you're lucky 10% active.
The million-dollar question is How Long?? Depends lorr ... some people take 10 yrs, some take 30 yrs.
Gurus will sell you time machine to shorten it to maybe 1 yr or 3. LOL!!
I've some Swedish colleagues who decided to leave the "cradle-to-grave" system because they can't stand "subsiding" their drunk or lazy neighbours who don't want to work...
They are the minorities. They have uprooted to Middle East or China where they get to keep the lion share of what they make.
The majority that stayed told me they liked the idea of a safety net. Like you've said, a lot of things are "free".
"Free" in the sense of 50% income tax and 20% GST...
Needless to say, I'm not a fan of socialism or communism. "Free" can be very expensive!
Those who got enough won't be easily hoodwinked by snake oils...
Its those who have little or not enough capital and have hole-in-the-heart that are more pliable...
Not enough? Just use share-financing or margin account so you can double or triple your capital!
Capital even smaller? Try futures? Can use 10X margin!
What? Your capital even lesser? Eh... Spot forex? 50X margin you know?
The best is the no money down for investing in properties! That's infinity returns!!!
Now that's for the win when calculating using percentages :)
Passive income sounds sexy as I don't have to work to get it. Hmm ... passive income is more like those days when I was receiving pocket money from my parents. That is passive income. No need to work for it! :-)
The word 'passive income' is overused, leading to cringing moments whenever I hear of it. I prefer 'dividend income' or 'side income', but never passive income. It's also misunderstood by way of the word 'passive'. Active income is where one needs to be there in order to earn it, whereas Passive income is where one can be anywhere. I think somehow, passive is associated with lazy and everything goes downhill from there.
What you said and what the video said are something like what I have here - https://thedeepdish.org/4-hour-work-week-review-tim-ferriss/ put into a nutshell.
Did Tim Ferriss pioneer this 'passive income' idea? Hmm...
One will eventually realise that he/she cannot get passive income by being passive (or lazy).
Nothing wrong in chasing dreams. Provided its our very OWN ;)
But chasing dreams others have dangled in front of us...
That's why when people talks about "minimalism", "financial freedom", or "retire at 35", I often like to "poke" like in the wet markets to see whether its to "escape" or to "achieve" ;)
That swedish guy will have real passive income what ... he just gotta tahan until 65. They got "free" healthcare & their pensions also higher than CPF Life so can relak lah. Hohoho!
ReplyDeleteOtherwise, it's a transition --- from maybe 110% active income to 80%, 60%, 40% and finally if you're lucky 10% active.
The million-dollar question is How Long?? Depends lorr ... some people take 10 yrs, some take 30 yrs.
Gurus will sell you time machine to shorten it to maybe 1 yr or 3. LOL!!
Spur,
DeleteI've some Swedish colleagues who decided to leave the "cradle-to-grave" system because they can't stand "subsiding" their drunk or lazy neighbours who don't want to work...
They are the minorities. They have uprooted to Middle East or China where they get to keep the lion share of what they make.
The majority that stayed told me they liked the idea of a safety net. Like you've said, a lot of things are "free".
"Free" in the sense of 50% income tax and 20% GST...
Needless to say, I'm not a fan of socialism or communism. "Free" can be very expensive!
Those who got enough won't be easily hoodwinked by snake oils...
Its those who have little or not enough capital and have hole-in-the-heart that are more pliable...
Not enough? Just use share-financing or margin account so you can double or triple your capital!
Capital even smaller? Try futures? Can use 10X margin!
What? Your capital even lesser? Eh... Spot forex? 50X margin you know?
The best is the no money down for investing in properties! That's infinity returns!!!
Now that's for the win when calculating using percentages :)
Passive income sounds sexy as I don't have to work to get it. Hmm ... passive income is more like those days when I was receiving pocket money from my parents. That is passive income. No need to work for it! :-)
ReplyDeleteCW,
DeleteAs adults, we can have "passive income" by getting our very own sugar daddy or mommy! (At night not passive though...)
The next best thing would be to marry rich and become a stay-at-home mom or dad ;)
If I were a young woman today, I would stay far away from men who seek "passive income" to escape work!
LOL!
Stay at home dad or mum with domestic helper.
ReplyDeleteCW,
DeleteIn my next life, I would like to come back as an expat wife/husband ;)
In Shanghai, one of my HK neighbour around 50 plus was an expat stay-at-home husband. He trades HK index options to pass time.
We would often meet at the gym in the evenings.
Hi SMOL,
ReplyDeleteThe word 'passive income' is overused, leading to cringing moments whenever I hear of it. I prefer 'dividend income' or 'side income', but never passive income. It's also misunderstood by way of the word 'passive'. Active income is where one needs to be there in order to earn it, whereas Passive income is where one can be anywhere. I think somehow, passive is associated with lazy and everything goes downhill from there.
LP,
DeleteThat's the power of the pen and WORDS...
Passive income was supposed to mean after putting in the hours to plough and plant the fields, we can sit back and enjoy the harvest.
Or go forth bravely into the rough seas and come back with your daily catch.
But now it has been used to attract those who do not wish to put in the hours but just get the rewards...
Look! There's no risks whatsoever!
Hi SMOL,
DeleteWhat you said and what the video said are something like what I have here - https://thedeepdish.org/4-hour-work-week-review-tim-ferriss/ put into a nutshell.
Did Tim Ferriss pioneer this 'passive income' idea? Hmm...
One will eventually realise that he/she cannot get passive income by being passive (or lazy).
Rainbow girl,
DeleteNothing wrong in chasing dreams. Provided its our very OWN ;)
But chasing dreams others have dangled in front of us...
That's why when people talks about "minimalism", "financial freedom", or "retire at 35", I often like to "poke" like in the wet markets to see whether its to "escape" or to "achieve" ;)
Hi SMOL,
ReplyDeleteLook inside p'ass'ive and we know it is either working our ass off to get there or be an ass or find one! ROFL.
Endrene,
DeleteAin't it the truth!!!
Hallelujah!
Hi SMOL
ReplyDeleteI like the way that the guy says it as it is. But he is also a snake oil. Hahahahaha...
I am not sure if those following him are benefiting in any ways his 3 percent way if getting real passive income from online
Sillyinvestor,
DeleteIts the same truth as Poor Dad Rich Dad - own your own business!
However, people prefer to see what they want to see.
We know not everyone and anyone can be business owners, yet we are quick to believe the "spin" everyone and anyone can be an "investor"...
Look ma! No brains needed! Its passive!
Nowadays, I see on Youtube lots of ads from young Singaporeans selling dreams on how to become an Internet Millionaire.
Well, at least these young snake oils know the truth!
The best way to become an Internet Millionaire is to "teach" others "HOW" to become an Internet Millionaire!
LOL!