Comments on: Toward Financial Independence http://www.getrichslowly.org/blog/2006/07/17/toward-financial-independence/ personal finance that makes cents Sun, 22 Nov 2009 02:13:44 +0000 http://wordpress.org/?v=2.7.1 hourly 1 By: HIB http://www.getrichslowly.org/blog/2006/07/17/toward-financial-independence/#comment-137646 HIB Tue, 24 Jun 2008 21:23:14 +0000 http://www.getrichslowly.org/blog/2006/07/17/toward-financial-independence/#comment-137646 @Nona I agree that owning a business is a damn good idea. I am refuting the comment made about real estate investing. I must first admit that I am biased towards real estate investing since I'm a real estate investor. I would make the case that while real estate investing is not passive to a novice, there are many ways that you can become a real estate investor and have very close to passive income. You can do this without trading your job for another job as would be the case in owning a business (I assume traditional store front business). As a real estate investor, you are able to have many properties under your belt and cash flow permitting, turn it over to a property manager. There are also other ways such as being a passive partner in a real estate deal. Mortgage brokers that deal with real estate investors would be a good source. You could also invest in real estate notes (i.e. you are the bank). Cheers! @Nona

I agree that owning a business is a damn good idea. I am refuting the comment made about real estate investing. I must first admit that I am biased towards real estate investing since I’m a real estate investor. I would make the case that while real estate investing is not passive to a novice, there are many ways that you can become a real estate investor and have very close to passive income. You can do this without trading your job for another job as would be the case in owning a business (I assume traditional store front business). As a real estate investor, you are able to have many properties under your belt and cash flow permitting, turn it over to a property manager. There are also other ways such as being a passive partner in a real estate deal. Mortgage brokers that deal with real estate investors would be a good source. You could also invest in real estate notes (i.e. you are the bank).

Cheers!

]]> By: Nona http://www.getrichslowly.org/blog/2006/07/17/toward-financial-independence/#comment-4763 Nona Wed, 02 Aug 2006 08:22:51 +0000 http://www.getrichslowly.org/blog/2006/07/17/toward-financial-independence/#comment-4763 But a lot of passive income depends on having other people at the bottom of the pile. Rental property works mostly when there are others who cannot afford their own property, plus it drives up the price of housing too (everyone with a bit of spare cash doing the buy-to-let route, at least in the UK). The pressure on companies to deliver dividends and growth means they often use suppliers in poorer countries and pay a pitiful wage. Even if they don't, they still rely on workers who are prepared to work for less. Business ownership though, that's a damn good idea and one more people should go for. I did it 4 years ago and, even without taking a wage for the first year I still cannot express how much my life has improved. But a lot of passive income depends on having other people at the bottom of the pile. Rental property works mostly when there are others who cannot afford their own property, plus it drives up the price of housing too (everyone with a bit of spare cash doing the buy-to-let route, at least in the UK). The pressure on companies to deliver dividends and growth means they often use suppliers in poorer countries and pay a pitiful wage. Even if they don’t, they still rely on workers who are prepared to work for less. Business ownership though, that’s a damn good idea and one more people should go for. I did it 4 years ago and, even without taking a wage for the first year I still cannot express how much my life has improved.

]]> By: Money Matador http://www.getrichslowly.org/blog/2006/07/17/toward-financial-independence/#comment-2913 Money Matador Tue, 18 Jul 2006 02:09:42 +0000 http://www.getrichslowly.org/blog/2006/07/17/toward-financial-independence/#comment-2913 I love passive income. You can get addicted to it. People who get filthy rich as young do not retire, they are independendt and can live their own life. In a way it is badmouthing them to say that they have retired. They just managed to escape the rat race. Great post" See you soon. I love passive income. You can get addicted to it. People who get filthy rich as young do not retire, they are independendt and can live their own life. In a way it is badmouthing them to say that they have retired. They just managed to escape the rat race.

Great post” See you soon.

]]> By: J.D. http://www.getrichslowly.org/blog/2006/07/17/toward-financial-independence/#comment-2862 J.D. Mon, 17 Jul 2006 18:00:52 +0000 http://www.getrichslowly.org/blog/2006/07/17/toward-financial-independence/#comment-2862 Fixed. Thanks, Dave! I made that mistake the other day, too. My wife says that I must be obsessed with "Small Pig"... Fixed. Thanks, Dave! I made that mistake the other day, too. My wife says that I must be obsessed with “Small Pig”…

]]> By: Dave http://www.getrichslowly.org/blog/2006/07/17/toward-financial-independence/#comment-2857 Dave Mon, 17 Jul 2006 17:02:41 +0000 http://www.getrichslowly.org/blog/2006/07/17/toward-financial-independence/#comment-2857 Your amazon link appears to go to Small Pig (An I Can Read Book) Your amazon link appears to go to Small Pig (An I Can Read Book)

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