There are only three kinds of life you can have at the end of your active career life. The first and most common is the low-quality life. You create this life when you retire to passive income that is less than the income that currently sustains you. The second is the Same Quality Life. You create this life when you maintain the same quality of life by retiring to passive income that is worth the same income that sustains you now. And the third is the Wealthy Retirement Life. This is where you create a life in retirement that is bigger and better than your active career life.
Assuming you are to choose from these three lives, which of them would give you a Restful retirement life? Which would make you an asset in retirement and which will make you a liability? The answer is for you to decide. But if you are ever going to maintain the same quality of life as you do now in retirement you must create passive income that is at least the same size as your current income package. Failure to achieve this is what makes people suffer from the financial disease I call “The Rich Dad, Poor Dad, The Same Dad Syndrome” – A disease condition where children watch their Dads move from a rich and admirable lifestyle to a poor and deplorable lifestyle within the same lifetime. If you must escape this disease, you must stop doing what the middle-class do with their money and start doing what the upper class do with their income. What the middle and upper-class do with income
One of the big differences between the middle and upper class is what they do with their income. No income is stationary so when you earn income you […]
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