What is a pipeline?
Hope you liked my take on the book. For those who have read the book please let me know if have done justice to the book.
I talked about pipelines the last time. Many of you must be thinking What are pipelines?
In our life times we study get good grades so that we can become something in life. We are always instructed that you the better the grades you have the better job and better life style you will get.
During all these years we are trained to make what is called a active income. What is active income?
Normally when we are in the job or are self employed the amount of money we earn is directly proportional to the time we put in (sometimes not will talk about it later) . Ideally the more time you put in the more money you make, which is not true practically – we know we work more than 8 hrs every day in our job but are pay is based on only 8 hrs/ day. To top it all our appraisal are really not dependent on our hard work but the company and person sitting on top. Then is this active income important to us? Yes it is but only for your survival not if you want to live a life of significance where you have time at your disposal, you can spend time with your family.
The worst part of active income is that if for some reason we are not able to work then we don’t get paid. Please don’t get me wrong but please ask a simple question - How many days can we survive if we don’t have a job??
This is the basic question that I started looking for my pipeline so that I should not face any more recessions.
A pipeline is a source of residual income or passive income. What is passive income? It is the kind of income where you have to work just once and the income keeps coming to you for a long time to come. Ex – Rent of house, Stocks, Interest on FD’s.
Many good authors and millionaires have recommended of having a source of residual income to make this life more significant and secured.
Recommended Reading : Business School by Robert Kiyosaki. This book deals with one of the methods of passive income.
Next entry : We will talk about Private Franchising.
I talked about pipelines the last time. Many of you must be thinking What are pipelines?
In our life times we study get good grades so that we can become something in life. We are always instructed that you the better the grades you have the better job and better life style you will get.
During all these years we are trained to make what is called a active income. What is active income?
Normally when we are in the job or are self employed the amount of money we earn is directly proportional to the time we put in (sometimes not will talk about it later) . Ideally the more time you put in the more money you make, which is not true practically – we know we work more than 8 hrs every day in our job but are pay is based on only 8 hrs/ day. To top it all our appraisal are really not dependent on our hard work but the company and person sitting on top. Then is this active income important to us? Yes it is but only for your survival not if you want to live a life of significance where you have time at your disposal, you can spend time with your family.
The worst part of active income is that if for some reason we are not able to work then we don’t get paid. Please don’t get me wrong but please ask a simple question - How many days can we survive if we don’t have a job??
This is the basic question that I started looking for my pipeline so that I should not face any more recessions.
A pipeline is a source of residual income or passive income. What is passive income? It is the kind of income where you have to work just once and the income keeps coming to you for a long time to come. Ex – Rent of house, Stocks, Interest on FD’s.
Many good authors and millionaires have recommended of having a source of residual income to make this life more significant and secured.
Recommended Reading : Business School by Robert Kiyosaki. This book deals with one of the methods of passive income.
Next entry : We will talk about Private Franchising.
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