At the moment most of my monthly money are coming from active sources, something like 95% of it, with only 5% coming from passive income. I do not know what others think, but even after my early retirement, i still see myself as having at least 20-25% of my income coming from active sources. I know, in theory the best option is to have 100% passive, but this will be very boring, isn't it? Now, related to other ideas i had this week, as i was thinking that i am going at a very slow pace, and i wanted to work more in order to reach my goals. Somebody reminded me that in the end not money and early retirement, but our happiness is the goal, money are only the instrument we use for achieving more. And if this journey is a marathon, not a sprint, so be it. Make no sense to exhaust myself or to worry too much about missing some deadline, as they are not set in stone. I was assured that once i will start enjoying life, my productivity will increase and my goals will be achieved faster, using Mr. Bruce Lee own strategy. In order to become faster we need to slow down. I will keep you posted about this.
Added later: As a big joke from Universe, after this post i checked my accounts, I've seen that the markets are recovering the percentages lost in the last months. So i am growing after all. Hip-hip-hooray!
Showing posts with label active income. Show all posts
Showing posts with label active income. Show all posts
Wednesday, 14 October 2015
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 https://www.gov.uk/tell-hmrc-change-of-details .
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)
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)
Subscribe to:
Posts (Atom)