Money, income, bills, investments, does the
sheer thought of them make you want to shriek in disgust, curl up into a
prickly ball? What an advantage to
those with reliance on advisors of financial savvy! Early on in their lives,
while the rest of us still trying to make some sense of the financial world!
How many times did the thought strike you "I could be rich now, if only
all these facts had come to me as a kid, or at least much earlier." Why
then would you let your child experience the same lack of practical financial
strategy?
Hillary Adams, a former white collar worker, felt the same, every time her son
asked her for an advance. All her talking about not having enough money and his
having to be more careful with his spending did not seem to be understood by
him.
She needed facts, a way of demonstrating, and soon. About the same time she
quit her job and went into business for herself, she began digging for a
sensible solution.
First, many nights were spent in books. She discovered the term “passive
income” and a fascination with its concept.
Passive Income
Does it mean it just “sits there,” regardless of what one does, it's inactive? Not exactly. Passive income is cash-flow obtained without linear time involvement. In other words, while you sit on the porch knitting, your passive income is generated, non-stop. You only had to do the work once.
Secondly, after Hillary discovered this concept, thought of all the benefits of doing business this way. She began to motivate herself for several days into finding a way to make a small investment, on behalf of her son, with a very important “switch” in mind.
Here is What Hillary Adams did:
She bought a small table-top game machine. As the contraption was delivered, and she and her son Aaron unwrapped it, she let him try it out, play with it, answered his questions, and finally told him: "Aaron, this machine is yours. And even better, all the money it's going to make is yours. However, I am only able to lend you the $227 it took to purchase the machine for a little while. You must pay it back. I'll help you set up the machine the rest is your business. Now, honey, tell me, can you do it?"
Aaron thought for a minute. His answer surprised Hillary: "Mom, I don't know if I could do it by myself. But with you there, I guess so. And after that….Yes, mom, I guess I can do it."
Thirdly, as they set up the machine in a few days, and impatiently waited for their first cash pick-up day to arrive, Hillary noticed the benefits of her actions had already begun to materialize and she was quite pleased.
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