Daimien Patterson is the CEO of Integrity Property Investment, a property investment company based in Australia. He regularly produces books, blogs and videos on the topic of property investing, helping thousands of people create financial security and freedom through education and property investment. Get started today.
My Property Investment Tip #17
Passive income is play money. Work income is living & investment money.
Now this one was taught to me by a very wealthy Australian. And when he did, it just made perfect sense.
You have two types of income. Passive income and work income.
Your work income should be used to put food on the table and a roof overhead, and your passive income (money you receive without working from the real assets you own) can be used for fun.
You see, if you blow your work money on toys and fun, you will have to keep working to replace it.
But your passive income will replace itself, so you have nothing to worry about.
Makes complete sense!
The problem most people have is, firstly that they blow their work income on toys and fun, and secondly that they never pursue a passive income!
Build a passive income, and then have your fun.