It’s hard to argue with the Frugal Expat’s assertion that owning assets tops having a job, assuming the income provided by one or the other is in the same range and covers your wants and needs.
Personally, I like to focus on total return, but since leaving my job, I’ve paid more attention to the truly passive income I have coming in
I’m happy to say that it’s enough to cover our typical annual spending, even if it’s nowhere near what I once earned as an anaesthesiologist.
Quite simply, assets are items that contain an economic value to an individual or company. Assets are things that generate income. When I go into work, the asset that generates income for me is my skill. Once that skill is outshined by others my asset is no longer valuable to me.
A syndication is the pooling of money to purchase a rental property (usually an apartment building). A professional runs the deal, so as a passive investor, you perform your due diligence, invest, and wait for the checks to come.
The concept is simple. Purchase your own rental property and then wait for the point at which the cash flow to equal $1,000 a month.