Saturday, 12 September 2015

HMRC change of details - Passive income - Biochemistry of early retirement - Quote of the day

1. If you didn't know what to do with this, just read at the following link .

2. Active versus passive income. What are they? How we do it? Crash course.
Passive income is usually found on paper, or lately online accounts. Shares, government or company bonds, ETF or mutual funds, this is first type of income.
Passive-active income like real estate is the second type of income.
Active income like your own business is the third type of income.
In order to become financially independent, even if you do not want to retire early, you need a mix of first and second type of income, and occasionally the third. At least two of them types are required in order for you to be protected in case of a global crisis.

3. The biochemistry of early retirement - What part of the brain do you need to achieve early retirement? I will tell you. The prefrontal cortex is the seat of executive control, or self-regulations - the part of the brain responsible for planning, self control and will power, complex cognitive behaviors, personality expression, decision making and regulating social behavior. The prefrontal cortex allows you to differentiate between conflicting thoughts, predict outcomes, set expectations, suppress urges that might lead to non-resourceful outcomes.
Homework for everyone: find at least 3 ways to make your prefrontal cortex to be more efficient.

4. And finally the quote of the day is:

"I'd like to live as a poor man with lots of money." - Pablo Picasso, artist (1881-1973)

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