Comment by Joel_Mckay
7 hours ago
Could join those in the slow life, invest in passive revenue streams, and keep cash burn rates minimal. You will be fine avoiding debt-based indentured 1980 metropolitan cultures.
Learn to play a cheap instrument, garden vegetables, paint miniatures, volunteer at pet shelters, or travel to odd destinations. Play the long game, and remember to have fun.
You owe corporate nothing outside what they paid for... and not a cent more. =3
Passive revenue streams are dependent on someone else not having access to those passive revenue streams.
Yes, it would be great to be free of debt, but for me it would have to mean moving away to somewhere real estate prices are not only low, but dropping for all too understandable reasons. And also a huge distance away from friends and family. There's a reason people mostly don't do this, and it's not that they feel a moral obligation to corporate.
>Passive revenue streams are dependent on someone else not having access to those passive revenue streams.
I think many assume it is some sort of zero-sum-game. This simply isn't how most unique successful product and service based niche businesses operate.
Most firms that directly try to hyper-scale their way into market dominance simply fail within a few years. The smarter bros often cash-out after the IPO these days.
Some people do feel entitled to others free time, and post-unknown-risk capital investments. Those folks can't help anyone succeed at anything except bankruptcy. =3
> invest in passive revenue streams
Sounds great. So how exactly do you get started with that, then?
Highly dependent on ones specific financial situation, risk-tolerance, and employment trajectory.
While not a personal preference, most acquire revenue properties as they build equity over time. Assets secure lower loan rates, qualify mortgage fixed-payment schedules on investments, and require good management-companies to handle leases.
Generally, mitigating tax exposures by investing in small businesses is still popular. Sometimes they work, and sometimes they don't... but it is money people will lose anyway if they do nothing. Specifically, my first business investment was a few vending machine locations as a teenager, after a summer dropping hardwood floors.
Everyone starts somewhere, but blindly cloning what others do is usually unwise. ymmv =3
So basically, in order to have a steady stream of money coming in, you need to start with having a steady stream of money coming in? :-D