How To Escape The Rat Race And Make Passive Income

How To Escape The Rat Race And Make Passive Income

Want to know how to escape the rat race? CLICK HERE TO LEARN HOW TO START YOUR OWN ONLINE BUSINESS.

Looking to get out of the rat race?

If you’ve read the book Rich Dad Poor Dad by Robert Kiyosaki you’d know all about being stuck in the “Rat Race” and the way to get out is by creating passive income streams. In the book, Roberts talks about people being stuck in the never ending financial cycle of working a 9-5, owning a home and living paycheck to paycheck.

Once you get in the rat race it’s SUPER hard to get out because most people just focus on working harder, working longer and trying to make more money. That’s NOT the solution. The reason is that when you work more you earn more BUT you’ll also pay more tax and MOST people end up spending more.

 How do you get out?

Obviously, the best way is to start young, educate yourself and NEVER get in it in the first place. But the good news is that it IS possible to escape.

How To Escape The Rat Race

Before we get into escaping the rat race we need to know why people get into it in the first place. Here’s the cashflow quadrant Robert talks about in the book:

95% of the population is on the left side of the quadrant. If you want to escape the rat race and become wealthy you need to get to the right side. You need to become a business owner (NOT self-employed) or investor. Having a job or creating yourself a job is NOT the solution. If you’re on the left side, the money will stop when you stop working. On the right side, the money will continue whether you work or not.

A business owner is someone who OWNS a business but doesn’t necessarily work IN the business. This is done by hiring people or leveraging a system. An example of a business owner would be having an internet business and outsourcing most of the day to day stuff. An example of a system would be recommending MCA to people who want to start a business or Online Sales Pro for people who want to grow their business.

Another thing that determines whether or not you’ll end up in the rat race is the way you manage money. Here’s what the rich do vs the poor and middle class:

The cash flow process of the poor and middle class (left):

  1. Income is earned through a job (salary).
  2. Salary is used to buy liabilities (house, car, eating out).
  3. Liabilities become expenses.
  4. Income is left over.

The cash flow process of the rich (right):

  1. Rich people buy assets (rental property, stocks, businesses).
  2. Assets provide passive income that covers expenses.
  3. Income is earned through assets.
  4. Use that income to buy more assets.

An easy way to look at assets and liabilities is: “Assets put money into your pocket and liabilities take money out.” Rich buy assets…poor buy liabilities.

You need to learn how to leverage your time and stop trading your time for money. Learn how to make your money work for you. The best way for 95% of people is to be a business owner.

A business owner is someone who has a system that provides recurring passive income each month on autopilot. The money will come in whether or not you’re working. There’s a lot of ways to become a business owner but the easiest way (in my opinion) is leveraging the internet.

It’s insane how many millionaires the internet has created over the past 10 years. It’s not going anywhere anytime soon and if you learn how to use it you can become insanely wealthy.

If you want to see how I make passive income online you can CLICK HERE but here’s the general overview:

  • I create content (videos and articles) about entrepreneurship and publish them on the internet. The content is created ONCE, teaches people how to do something and will be there forever.
  • People will read and watch my content, they’ll learn about my products, services, and books (which I created ONCE) and some of them will become customers.

More content equals more visitors equals more money. If I go on vacation for 2 months my content will still be out there making sales. That’s the power of the internet. The entire goal is to create enough passive income to cover expenses. When that happens you have freedom.

How To Get Started?

If you have a job, what you need to do is start a side hustle to create some passive income. From 6pm-12am and weekends, you need to be working on your business. If you put in the time and effort you’ll eventually get to the point of being financially free.

It’ll be challenging but don’t you think it’d be worth it? It’s completely up to you…if you’re satisfied where you’re at that’s cool but if not, DO SOMETHING ABOUT IT!

I’ve seen regular everyday people escape the race, so I know it’s possible. I’ve seen people make a 4-figure monthly passive income within 4 months. I’ve seen people quit their job because their business is making more income. A great place to start making passive income online is MCA.

That’s one of my favourite passive income streams right now but there’s a lot of different ones out there. Click the link below to learn more or leave a comment below.

Thanks for reading!

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