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One of my favorite financial mentors is Mr. T Harv Eker. He is the best-selling author of the Secrets of the Millionaire Mind.
One of my favorite topics was when he discussed about winning the money game.
To win the money game is to achieve Financial Freedom. He defined it as "living the lifestyle you desire without having to work or rely on somebody else for money."
In short, having enough passive income!
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| With enough passive income you can be financially free |
In my Cash Flow Upgrade ebook (click here to download for free), I mentioned that the ideal scenario is that our cash inflow should be greater than our cash outflow or in short:
Living below your means: Income > Expenses
However, if we want to be financially free, our passive income should be greater than our expenses, thus:
Financial freedom: Passive income > Expenses
The question now is, are we building a source of passive income?
To give us an idea, here are the two major the sources of passive income:
1. Financial Instruments - money working for you.
2. Passive Business Income - passive business working for you.
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Want to achieve financial freedom? Here are 15+ sources of passive income
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