If you have done real estate since your father's time then your passive income would be GAO GAO and out if the rat race. His cash flow quadrant also good. Forget the sales part learn his technique and idea. Dun copy wholesale. Pick out only those you need.
ya, dont copy wholesale! i totally disagree with his love for silver & gold. when he was in singapore for the seminar, he encourages people, no matter how poor, to stash away his savings... some lady was saying costs of living so high, he suggested to audience to buy 1 silver coin per mth before even spending.
i know the idea is to stash away some money in investments, which is very good, but im worried people may take his idea wrongly and buy silver.
investing even $50 or $100, just it monthly, then buy into stocks half yearly or yearly... i seriously think a silver coin does not earn returns, totally out of his cash-flow idea too.
and his real estate idea does not work too well in singapore. he himself admitted that while he was in singapore, said we are too expensive.
and even in usa, real estate returns are not as good as overall stocks return.
so overall, get his idea, but apply it appropriately.
No passive income how you retire? CPF enough to feed you?
plenty of people retire with a large savings.
though it would be easier for the savings to generate a better returns than 0.25% bank rates...
yes. passive income is important.
how to start creating passive income?
i honestly think passive income is too "marketing" and a terrific "sales pitch" to sell investment schemes and mlm pyramid plots...
we are too obsessed with passive incomes... easier said than done. i believe majority of the public lost money to "passive income" schemes than they could have made.
i think some safer options are more appropriate, like dividend warriors, collecting dividends over the years. Hell Warren buffett made most (99%?) of his wealth after 50 years old... long term investment is better.
and Robert investment in real estate is pro-active, he buys, re-do the land, the houses, slice into parcels or houses and rent it out.
totally NOT those "buy a hotel room" type where u fork out $35000 and expect 20% return annually...
u have to EARN this money.
I know the sales manager of the "buy investment schemes" earned his.
Cannot lah my bullet is not armour piercing wan. The GBPJPY drop about 120 pips on wed and fri so yeah how many lots you hoot is how big is your account. 10 lots and you are done for the month. I small fry but we have the same mentor. I am more of long term trader.
share share more leh. u can always do paper money, or just instead of 1 lot, do 1 mini lot lor... i feel experience more important nowadays than cash.
i mean we are young (i hope we are still young)... key is learning!
Stocks and property are the only 2 asset class. I am not Warren Buffett so I chose Robert. Land is scare here just like HK so the only way is up. So like DW you just accumulate. They are fully paid so just earn the dividend. So when you have enough bullets you can hop form 1 share to another like sell Singtel at $4 and buy SIA at $9.80 (just like real estate --->developer) buy and resale rather then wait to break-even.
There are lots of things to pick up from his books. Wad you need is an idea. How you want to implement it is another story.
bear in mind, even Robert dishes singapore property when he was here (abt 2yrs ago?) for a seminar... i believe he would never do well here in property. because this is not a place where u can get a large plot of land for some cash and then re-do it into condos and rent it out... for that u probably need multimillion pockets.
Accumulate like DW....
Robert's books are ok... but seriously.. i hate it whenever some pyramid guys MLM guys misquote him to encourage people to buy in.
bloody hell, i actually got very interested in buy USA real estates, so attended this singapore company that helps to buy usa houses... 75% of the seminar time is devoted to explaining Robert's theory than the actual process of buying usa estates.
i spent additional 2 days chatting with the sales representatives, and realised i have a better deal if i were to buy a SIA business ticket, fly to USA, get some REMAX agent and lawyers, and then fly back... i would probably saved some money.
very disappointed to mix with sales people....
