You could actually get the passive type of way of getting money, but get the active type of money. #PeterVekselman #PartnerDriven #Motivation
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Speaker 1 (00:00):
So in life, there’s two types of incomes. There is passive income, and then there’s earned income. Now there’s benefits and downsides to both of those. So first of all, you know, if you hear people talk, especially a lot of people that like talking about longterm wealth, long-term success, you know, you see a lot of times they’ll talk about passive income, passive income. Now passive income is the kind of income where you like buy something and then you sit back and you collect payments. Okay. It could be like, if you sell a new cities, uh, it could be, if you buy a piece of property, you could put a tenant in there and collect rents. That’s all known as passive income. And that’s like, what people tell you, that’s like the ultimate way to generate a wealth, especially here in the United States. Now the downside to passive income is that, um, most of the time it tends to be a lot.
Speaker 1 (00:48):
And I mean, a lot less than active income active income is when you’re actually earning, you have to do something on a daily basis to earn it. So there’s a lot more to be made there, but again, you’re not sitting back, you’re not collecting it. It’s not what we call 24 7 money. Um, but I will tell you here’s the real good news. Do you know that you could actually get passive type of way of getting money, meaning ongoing, consistent basis, but get active type of money. That’s right. You can literally have the best of both worlds, passive from a longterm wealth creation perspective. See, it all comes down to your ability to build out teams and leverage, not leverage money, but leverage people. And if you’re able to build teams around you, if you’re able to leverage people around you, if you’re able to build an organization around you see that organization could do a lot of active things.
Speaker 1 (01:42):
Like for instance, I buy and sell real estate. That is what is known as active type of earnings, but I don’t really do it. My organization does it. My people do it. So I enjoy the upside of active, big, big, big, massive chunks of money coming in. And I also enjoy the incredible side of passive because I’m not doing it. My people are doing it. Is it possible to have active and passive working for you? Absolutely learn to scale, learn to bill out people around you, and then you’ll get the active side in the passive kind of way.
Speaker 2 (02:33):
[inaudible].
