The key to wealth:
Rich dad used to say, “The key to becoming wealthy is the ability to convert earned income into passive income or portfolio income as quickly as possible.”
He would say, “Taxes are highest on earned income. Th e least-taxed income is passive income. That is another reason why you want your money working hard for you. Th e government taxes the income you work hard for more than the income your money works hard for.”
2.34K
4.84K reads
CURATED FROM
IDEAS CURATED BY
The idea is part of this collection:
Learn more about books with this collection
The differences between Web 2.0 and Web 3.0
The future of the internet
Understanding the potential of Web 3.0
Related collections
Similar ideas to The key to wealth:
Passive and Portfolio Income:
When my rich dad said, “The rich don’t work for money. They have their money work for them,” he was talking about passive income and portfolio income.
Passive incom...
The quest for passive income
The idea of a diversified portfolio is to have different kinds of active and passive income.
Passive income is investing time and money up front to help earn money continually even while you sleep. It can take many forms, including digital downloads, e-books, selling stock imagery, lic...
“Poor dad” vs "Rich Dad" Mentality
The “Poor dad”, a stereotype for the regular salary man, believes that one should work for money as an employee at a stable job. This mentality can trap a person into working a job they don’t love, but is willing to stick with because they have to pay the bills.
The "Rich...
Read & Learn
20x Faster
without
deepstash
with
deepstash
with
deepstash
Personalized microlearning
—
100+ Learning Journeys
—
Access to 200,000+ ideas
—
Access to the mobile app
—
Unlimited idea saving
—
—
Unlimited history
—
—
Unlimited listening to ideas
—
—
Downloading & offline access
—
—
Supercharge your mind with one idea per day
Enter your email and spend 1 minute every day to learn something new.
I agree to receive email updates