The PPhREI Network Highlights drop once a week and include the best posts from the PPhREI network….
Financial Independence is a major goal for many and FIRE (Financial Independence Retire Early) is the pinnacle achievement in this financial space. The Darwinian Doctor goes into detail regarding two ways to achieve financial independence. This is a great post for early and seasoned investors. I agree with Dr. Shin’s strategy and practice both plans to reach FI.
Passive income can be described as income generated without you requiring to work. Most income is determined by your hourly rate or task based. You either directly trade your time for money… For example $15/hour wage work. Or task/service based… for example being paid per patient visit. In the end, this is still a form of trading time for money. To accelerate your ability to grow wealth you need to allow your money to grow and create more income without your direct involvement. The line “making money while you sleep” sums up the idea clearly. The Prudent Plastic Surgeon discusses how to convert your active income into passive income in this week’s PPhREI Network post of the week.
Tax season is here and April 15th is rapidly approaching. Most of you are well aware of the amazing tax benefits available to Short-term rental investors but it is always a good idea to refresh. The Carpe Diem MD highlight of the week is the “Tax Benefits of Short-term rentals”.
Enjoy your Journey to Financial Freedom