In her book, Passive Income Aggressive Retirement (PIAR), Rachel takes a fresh and down-to-earth approach to developing passive income. She calls it like she sees it, and doesn’t sugarcoat the fact that it takes hard work and dedication to succeed.
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AN OVERVIEW OF PASSIVE INCOME AGGRESSIVE RETIREMENT
Table of Contents
- 1 AN OVERVIEW OF PASSIVE INCOME AGGRESSIVE RETIREMENT
- 2 PRACTICAL APPLICATION OF STRATEGIES FROM PASSIVE INCOME AGGRESSIVE RETIREMENT
- 2.1 Never Stop Learning, and Play to Your Strengths
- 2.2 10 “Secrets” from PIAR I really Enjoyed
- 2.2.1 1. Get Your Personal Finances in order before diving into Passive Income.
- 2.2.2 2. Times have Changed – Consider the Cost of Retirement Today.
- 2.2.3 3. Get Creative and Brainstorm about Passive Income ideas.
- 2.2.4 4. Play to your Strengths and Investigate your Interests.
- 2.2.5 5. Be willing to learn, and never stop learning.
- 2.2.6 6. Frame your Goals within Phase 1 and 2.
- 2.2.7 7. Apply S.C.R.I.M.P. to evaluate your Strategy.
- 2.2.8 8. Take heart, and have faith in your endeavors.
- 2.2.9 9. Learn how to Negotiate, you’ll need it!
- 2.2.10 10. Get offline, and get online (with your plan)!
- 3 FINAL THOUGHTS ON PASSIVE INCOME AGGRESSIVE RETIREMENT
As clearly evidenced by her own success, for those willing to invest themselves in a dedicated, focused effort upfront, the rewards are there for the long run. This is not a “get rich quick” approach; nor is it a magic formula. Mrs. Richards offers good advice and outlines several paths to building your own passive income. So, bring your best effort, diligence, and passion as you take Mêtis in your Money Matters to a whole new level!
Ready to start reviewing your options? Pick up a copy of Rachel Richards’ book, today!
Resource Richness and Readability of Passive Income Aggressive Retirement
This is an extremely easy book to understand. Rachel does well with readers of all skill levels. For example, she takes time to explain and define her points and industry-specific terms. At the same time, she broadly covers to provide valuable context. However, the broader context in no way detracts from the message by being too vague. Details and specific examples abound!
Application & Adaptability of Passive Income Aggressive Retirement
This is one of the more practical books I’ve read. The pages are stuffed with scenarios, good advice, and exercises to apply. When she writes about passive income strategies that she hasn’t personally executed, she says so and calls it out as such. I really appreciate the honesty and transparency in her writing.
PRACTICAL APPLICATION OF STRATEGIES FROM PASSIVE INCOME AGGRESSIVE RETIREMENT
There are myriad examples of ‘how-to’ within the book, each with enough to kick off a launch for the reader. She offers examples, personal insight, and does so in a clear and concise manner.
Never Stop Learning, and Play to Your Strengths
This message resonated with me, and I appreciate her honesty. PIAR is not a book built on the notion of quick riches, nor is it a “one size fits all” path to wealth. It takes hard work, and a willingness to work very hard, learning all along the way. Rachel also provides several interviews with real-life stories of successful entrepreneurs making a LOT of passive income. There is nothing a hard-working and dedicated individual cannot accomplish, and I think her interviews were a great touch.
10 “Secrets” from PIAR I really Enjoyed
1. Get Your Personal Finances in order before diving into Passive Income.
This was a great reminder, and I totally agree with her. You need to have your personal finances in order before getting started with PIAR. Part of that means you need a budget!
2. Times have Changed – Consider the Cost of Retirement Today.
The “Nest Egg” approach to investing is outdated; pensions are largely a thing of the past, and Social Security its current state won’t last long. Millennials should plan on about $2MM in retirement.
3. Get Creative and Brainstorm about Passive Income ideas.
In her book, Mrs. Richards offers a FANTASTIC list of passive income strategies including vending machines, real estate, writing a book, creating a course, using photography, and music (just to name a few).
4. Play to your Strengths and Investigate your Interests.
After reading her book and brainstorming on your own, consider what most interests you and what you have a knack for. Then, go get ‘em!
5. Be willing to learn, and never stop learning.
I really like her advice: you don’t have to know everything, you just need to be willing to learn. And that includes learning on the fly.
6. Frame your Goals within Phase 1 and 2.
According to her, Phase 1 is the investment of time and/ or money. It can take years of hard work to get through this. But take heart! Phase 2 is where the Passive Income kicks in. Count the cost – it is worth it in the end!
7. Apply S.C.R.I.M.P. to evaluate your Strategy.
This is a great analytical tool and should be used to evaluate your chosen PIAR strategy Scalability, Controllability & Regulation, Investment, Marketability, Passivity.
8. Take heart, and have faith in your endeavors.
Don’t give up. Never quit. The book is quite clear about the hard work and dedication needed to succeed. I couldn’t agree more, and I drew a lot of encouragement from her message.
9. Learn how to Negotiate, you’ll need it!
Throughout it all, especially in Phase 1, you’ll have to deal with others. Learning how to excel at negotiations will help you out!
10. Get offline, and get online (with your plan)!
This was a good reminder to forgo the immediate “junk food” (food, or entertainment in general) and focus on knocking out Phase 1. It takes time, and finding time can be easy(-er) if you cut back on the TV, and snack runs, etc. Maybe you’ll save a few bucks along the way as well.
FINAL THOUGHTS ON PASSIVE INCOME AGGRESSIVE RETIREMENT
This was a great read! Going into this book, I was ready for it to be another basic read, with more of the same information on the internet. I was very pleasantly surprised, and immediately drawn to the practical recommendations. The book was framed for all types of skills and encouraged readers to do what is interesting to them. Unfortunately, turning passion into passive income is only a dream for most of us. Readers armed with what Rachel provides in her book will have the opportunity to make dreams into a reality!
I was able to find this on Amazon as a free Kindle version (at the time of this review), and you can get a hard copy as well. Also, be sure to visit Rachel Richards’ website for more information, testimonials, and information on other books she’s written. Everything I have read is applicable and actionable for all people – especially those hungry to make passive income a reality in their lives!
I wish you the best of luck in your endeavors! Keep up the hard work, keep developing yourself, and keep cultivating Mêtis in your Money Matters. Diligently pursue excellence, my friends!