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Getting Rich Slowly and Retiring with Passive Income

Constant Investing Over Time

Put 10% of your money away each pay and do it consistently. This is not a rainy day account. No matter what life crisis decides to creep up and smack you in the face be sure you always put one-tenth of your earnings away.

This money is not to be spent, it must be invested. A good idea for those with an employer is to ask your payroll office to transfer a fixed (roughly 10%) amount into your saver account each pay. That way it goes unnoticed... by YOU

What happens?

Well, if you put $100 per week away in a regular savings account for 1 Year at 6% Interest you will have $5,357.91. Do that for 5 Years and you will have accumulated thanks to compound interest a whopping $30,308.82 !

Okay, is it possible to get rich from a compounding savings account? No.

$100 per week over 40 years at 6% return will compound to a total amount of $796,607. Having that invested will return $47,796 before tax. Yes, you can live a frugal life of that stream of income but how can we be rich? How can we live a life full of abundant wealth? Read the rest of this entry »


  • Review of Rich Dad Poor Dad

    • Author: admin
    • Filed under: Book Review
    • Date: Nov 19,2008

    Rich Dad Poor Dad by Robert Kiyosaki is aimed to motivate readers to increase their financial literacy. This first book in the successful Rich Dad series first published in 1997 and Kiyosaki hopes to impart financial wisdom through simply worded dialogues with ‘his real dad’ and ‘his rich dad’.


    Robert Kiyosaki background before writing the Rich Dad series spans from joining the Marines as a pilot, to selling Xerox machines and to starting his own Velcro wallet company. No doubt his story is famous enough now for me not to bore you with specifics.

    Kiyosaki raises important points in an easy to digest repetitive way. He does this by putting the reader in his shoes - A young kid growing up with a real father and his friend’s rich father. His poor father said and lived by the motto - study hard, get an education, get a safe secure job where the company will look after you, whereas his rich father would say - learn as much as you can, create your own assets to generate income. Read the rest of this entry »


  • I have a problem with too much money. I can't reinvest it fast enough, and because I reinvest it, more money comes in. Yes, the rich do get richer.
    Robert Kiyosaki
     

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    Rich Dad, Poor Dad Rich Dad, Poor Dad A #1 New York Times bestseller, Rich Dad, Poor Dad is a true story on the lessons about money that Robert Kiyosaki learned from his two "dads." One dad, a Ph.D. and superintendent of education, never had enough money at the end of the month and died broke. His other dad dropped out of school at age 13 and went on to become one of the wealthiest men in Hawaii.Rich Dad, Poor Dad will . . .? Explode the myth that you need to earn a high income to become rich? Challenge the belief that your house is an asset? Show parents why they can't rely on the school system to teach their kids about money? Define once and for all an asset and a liability? Teach you what to teach your kids about money for their future financial success.In Rich Dad, Poor Dad, Robert Kiyosaki explains how to make your money work hard for you instead of you working hard for money. Read the Lifemonies Review on Rich Dad
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