Pwede pala yun? Money keep on coming without me working?
This is called passive income, you may check on my recording timestamp (07:46).
Having continuous cash flow is every individual’s goals, this is the reason why we are working so hard. Do you agree with me? We want to assure that we will have passive income so that if our business fails, we will always have something to fall back to.
Here are 3 possible reasons why we need to establish continuous cash flow:
- Our business might become irrelevant in the future. (4:12)
- We might encounter bad clients that would affect badly our business cash flow. (4:30)
- Our children might choose a different path for themselves, and they are no longer interested in carrying on the family business. (4:39)
Now, the next question is that how do we build this continuous cash flow?
Here are 3 tips:
Tip # 1 – Buy Assets (08:09)
What are assets? These are things that increase in value over time. You need to check yourself all the time, whenever you purchase something… ask yourself… are you buying assets or liabilities?
Tip # 2 – Angel Investing (10:49)
Angel investing is looking for startup founders and provide a seed capital to them. Please take note that this kind of investing involves high risk, you need to do careful research before investing.
Tip # 3 – Investment with Payouts (12:14)
This is simply looking for placements that will give you payouts every year for the rest of your life. It is like living on interest.
Learn more about this as I break it down here in this video.