Understanding the Difference between Financial Independence and Financial Freedom

Pure savings

    Although it’s common to hear the two phrases ‘financial freedom’ and financial independence’ used interchangeably, they do not mean the exact same things. The two ideas are interlinked but involve subtle differences in interpretation. If you’re interested in working towards building passive wealth, it’s important to understand the meaning of each concept. What […]

Creating Financial Independence: Why Is Passive Income Important?

Plant in hand

    ‘In order to achieve financial independence, your passive income must exceed your expenses’ Robert Kiyosaki, author of best-selling book ‘Rich Dad Poor Dad’. With rising expenses and escalating living costs, it is no longer enough to have only one source of income to rely on. Passive income is particularly important because it generates […]

Fed Up of the 9 to 5 Struggle? 5 Reasons to Quit the Rat Race

RAT RACE

    ‘The trouble with the rat race is that even if you win, you are still a rat!’ Lily Tomlin The tedious struggle to buy a home, put your children through school and save for retirement can turn into a relentless nightmare. You may have reached a point where you are heartily tired of […]

Interested in Low-Cost Investing? A Quick Guide to Penny Stocks

heap of coins

  If you are interested in investing but don’t want to risk large amounts of money until you’ve learnt the ropes, penny stocks might be an option to consider. Here is a quick guide to penny stocks:   What are Penny Stocks and how do they work? Penny stocks are low-cost and small-cap stocks. Although […]

A Beginner’s Quick Introduction to Stock Investing: What is Stock Investing?

stock investing on napkin notes

    Thinking of investing in the stock market? This brief introduction to stock market investing will help you learn the ropes.   What exactly are stocks? Companies owners often seek shareholders or stockholders when they wish to float (set up) a new company or expand an existing one. The words ‘stocks’ and ‘shares’ mean […]

What is the Difference between Passive and Residual Income?

Which path to take?

    Although the two terms are often used somewhat synonymously, there are significant differences between the two. While there are similarities between the two, there are also several points of difference. We investigate what they each mean:   What is the difference between Passive Income and Residual income? Passive income is defined as inactive […]