Exactly a year ago, I wrote an article on the various miscellaneous ways to sell the idea of passive income to the retail public. The link to that article is here.
In that article, I articulated the main gist of the conversation that I had with my colleagues regarding the way passive income works. It was a rather fascinating conversation in the dialogue because they were rather fascinated by the outcome more than the process to get there.
This is perhaps why it is common to see why many courses use the outcome as a selling point. Lazying by the beach on a bright sunny morning with a beer in one hand and a magazine in another or the serenity tranquility area surrounded with peace instead of the dreaded 9-5 jobs with phones ringing and buzzing around.
One of the good thing that happens this year is I managed to get one of my colleague at work to start his investing journey. He’s one of my good friends at work and we had lunch often together so naturally I had the opportunity to brief him on ways to get started more than the usual general brief conversation.
He is not a total stranger to personal finance. In terms of the daily habits, he has accounted for automatic savings whenever his salary was credited so he only sees the leftover amount that he can spend. I thought that was a good initiative in trying to organize his own personal finance and keep them up in shape. He has no problems maintaining so I figure out he is interested in investing because he wants his money to grow and work harder for him.
Over a few weeks, he managed to open a cdp account and the brokerage account that I recommended, and have them linked. And after a few more days, he is up and started with an initial $5k investment in some of the companies he has been eyeing on.
People who are intrigued by the outcome or returns in this case don’t usually last long in the investment scene. When the party is at its peak, these people usually join in the fun, adding fuel to the bubble but they will disappear when the going gets tough or when investment seems “risky” to them. The idea of selling passive income to the public is a lot easier to achieve than getting the actual person itself to succeed and remain in the investing scene. When the big waves come, it’d be interesting to see who remains as the last survivor ready to fight the war.
For your consideration.
Yes, full agree. I have friends who are like that too. As its a long process and they have no interest, they do not even keep track of it.
Hi My Investment Machine
Yes, I think the attitude towards working ahead is important as it is a lifetime effort before we can see the outcome.
Hi, just curious, which brokerage do u recommend and why?
Hi JT
I am using CIMB and L&T.
If you are interested, I can refer you with no attached benefits to me.
No particular reason for me, just a platform for me to buy and sell, thats all.