Short excerpt from a T. Harv Eker talk explaining a simple process for converting active income into passive income by investing earnings into a self-reinforcing “money machine” that generates returns which are then reinvested to compound passive income.
What most people do is they have a job or a business that earns money, but it's active income. In other words, you're working, you know, in a job hourly or getting paid or your time or you're making money in your job or you're making money in your business, but you're working it, right? You're working 8 hours, 10 hours, 12 hours, 5 hours, whatever you're working. Then what you want to do is you want to take that money and you want to invest it because where's the money going to come from, right? You take that money and you invest it and this ends up being one of your passive income structures. And then you take the money from here and you build that up with more investment, right? So you this is your machine, your money machine right here. And now you take that money machine, whatever it spits out and you put it into here.
