You will never be poor again if you learn never to work for money. Why would you save money and why would you work for it, if they can print it had faster than you can work for it. Why do you keep saving, when they’re printing it?
Three kinds of Income
Earned income is money derived from paid work.
Portfolio Income is money from investments, dividends, interest and capital gains.
Passive income is income resulting from cash flow received on a regular basis, requiring minimal to no effort by the recipient to maintain it.
What makes you poor?
The rich have assets. The way to keep the poor and middle class working hard is never teaching them what the rich know. Most poor people confuse about assets and liabilities. If it’s taking money from your pocket, it’s a liability. If it’s putting money in your pocket, it’s an asset. So, work hard to get your first asset.
The rich don’t work for money. Financial education it’s not about got a job, work hard, save money and invest in a well-diversified portfolio, stocks, bonds, mutual funds, and ETFs. The rich don’t have jobs anyway they have assets. Their job is to do what they like, such as reading books.
For example, Warren Buffet likes to read books. He can consider it as his work. His greatest asset is his mind. He spent more than 60% of his time is reading. This is because, he wants to develop his mind.
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