We all contemplate why are we doing this, as what we are doing. What are we fighting for and against what and how are we certain that we would win. What is this winning? This confusion am sure will be with everyone, and they all start somewhere but few complete the circle.
As a methodology I penned my dreams to realize that I am not doing what I wanted to do, or in this way I would not reach where I want to go. Example- I would want to go to Europe for a Holiday, let us presume. I would love to drive Merc Benz or Porshe, let us presume again. Will I be able to drive with my dream car to dream destination? Or do that make sense? This analogy is perfect to the prevailing conditions that I chose something I got and that for sure will not take me where I wanted to go.
Besides the point, as anyone I wanted to do something that will keep me happy, give my family a security and above all the kind of wealth I can pass onto my generation. When I was thinking I remember reading somewhere, Active Income and Passive Income.
Do you have any idea as what it is?
It is interesting to read, but bitter to digest the concept. I am failing to remember where I read, but you guys can explore yourself on that subject.
They say Active Income is a function of Time and that is finite to 24 hrs per day.
Passive Income is not a function of Time, on the contrary.
Presently, I am selling my time to get the money, overspend to obtain the desired lifestyle and end up with less or no security.
The key words are Time, Money, Security and Lifestyle.
The jugglery of this four entities determines one to be rich and poor. There cannot be a class between, as that is just a morale boosting technique.
So ideal scenario is that I earn money that is not the function of time and so will have more time at the disposal for my family and for myself to do something better than tomorrow. Hence, I need Passive Income.
What is this Passive Income?
Kishore Kumar, the play back singer has put in his hard work and emerged big enough during his life time. Today, the CDs or cassettes of his songs when bought a percentage of money goes to his family. Amit kumar, his son gets a royalty sum of close to Rs. 11 crore per annum. That is bound to increase in the years to come as his songs are evergreen. This is a kind of passive income.
Bata, 45 years before opened an outlet in India and after 10 years of hardwork he started giving away franchisees across India as he was not willing to do all by himself and waste his time. Instead franchisee business model worked for him as that brought ownership to the person and with the margin as low as 2% going back to him, today he earns as much as approx. 3 lakhs per working day as his net profit from the unowned retail outlets.
Sam Pitroda, the brain behind the STD/ISD booths or Sujatha, the brain behind electoral boxes, besides movie scripts are all passive income earners. Owners of the companies do have their share of passive income quite a much and with more time at their disposal gets well utilized to reach new frontiers of glory.
The examples glorified above do have something or more that we don’t have. Skills/Talents – artists; scientists….
Our way of thinking had always been around Active Income gathering, be it a job hop or fighting for a better appraisals with tiny difference that we make to the duty in place. I am afraid, a failure is boldly written on the wall that we fail to see in the clout of enthusiasm or urgencies. Aren’t we?
We could differ with each other on the term that was used – Failure. But, generally in the corporate world the so called professionals are trained or tuned to see failures as success; Struggles to the pinnacle of glory as failure.
Imagine a photograph shot in a exotic location of a family on a vacation- Bread winner of the family hugged by 1-2 kids while the proud parents and spouse standing beside. An emblematic portrayal of a happy family with the good lifestyle. It is there in each of our houses. But, imagine that bread winner moves out of the portrait for various reasons unknown to mankind. Will the family be happy, secure and be having the same lifestyle as before? Insurance might be a solution, but that requires one to be dead.
Please think on what can make your life better, richer and contentful. And no one shoe size fits all..!
Welcome to chaos!