I felt awful and got defensive: I had a good excuse for each missed event! Travel, important meetings, an urgent phone call, sudden to-do.
I’ll let you in on a little Secret.
All those articles on how you will invest and get rich, on how you will drive a luxury sports car, own a personal plane and yacht or even how you will be the next Warren Buffet and more. What if I told u they were all lies.
What if I told you, the time and energy you invest into obtaining passive income, isn’t even because of you.
I wouldn’t say getting rich or owning a luxury sports car from passive income is a lie, but rather, a misdirection. It’s possible to be the next Warren Buffet, but a very long tough journey to get there. While some people continue striving day in and out to get there, for most of us commoners, we just want to get by rather comfortably, working hard at our day jobs and have a decent paycheck to bring home to our families and stand confident amongst the social class.
If thats your mentality, then thats where u’ve gone wrong. If it’s your family you are worried about. Passive income is your answer.
Incomes can be divided into 2 categories: Active and Passive.
An active income basically means that you have to work to get paid and/if you stop, the income stops. i.e day jobs.
Passive income is quite simply the opposite, it means income rolls in regardless of whether you work or not. i.e property rentals
The mistake most of us make is that we strive to keep food on the table by taking on a very narrow minded view of working our ass off. Without ever stopping to ask ourselves, for what and for how long?
How long are you going to continue doing this and maintaining this lifestyle? For what are you slogging at work? Is it for your family? Is it for you to be happy? For a promotion so u can better provide for your family? But how is that the case if you spend so much time slogging at work that you miss out on your family time and/or you spend so much time at work you barely even have time to spend it and really isnt that happy?
One such case came into a spotlight recently, of a High-flying CEO of a $2 Trillion investment fund quitting after his Daughter listed 22 milestones he missed during her growing up years.
Mr. El-Erian, who grossed an impressive $100 million in the year 2011 said in a recent essay for Worth, that his family was the deciding factor for him to leave his position.
He cited his “wake-up call” as, when he was arguing with his daughter about brushing her teeth, and that was when she left to fetch the list from her room to show him.
“It was a list that she had compiled of her important events and activities that I had missed due to work commitments,” he wrote.
“The list contained 22 items, from her first day at school and first soccer match of the season to a parent-teacher meeting and a Halloween parade.”
“I felt awful and got defensive: I had a good excuse for each missed event! Travel, important meetings, an urgent phone call, sudden to-do.”
“But it dawned on me that I was missing an infinitely more important point … I was not making nearly enough time for her.”
Since leaving from his position, Mr. El-Erian and his wife take turns to prepare breakfast and brings their daughter to school.
He mentioned to have undertaken a series of part-time roles, which includes being the Chief Economic Adviser at Allianz, which requires much lesser travelling than his previous position, and allowing him more flexibility to spend time with his family.
Keep working they said, climb the corporate ladder they said, you’ll earn more money, you’ll have a better life. So heres one coming from the top down, of a high flying CEO telling you what is life like on the greener side.
PS* You’re just a mindset away from everything you ever dream about.