Passive income is one of those topics which can really polarise people. Some people think its can never be achieved and to not bother spending your time trying to chase it. For others, they have generated their wealth through passive income and are therefore huge advocates for passive income. I myself am a believer and have been for several years.
Passive income doesn't have to be generating you millions and millions of dollars , it can be as little as creating you $1 a month for doing nothing... this is passive.
From here I wanted to create a summary website which summarises as many books on passive income as possible and to help the viewer decide on whether it is for them prior to purchasing it. It would be worthwhile having all the reviews in the one place so people can come to this website and they would have all the resources available to them. They can them make an informed decision on the best book for them and then go on their journey of creating some passive income.
Meet the Team
My name is Andrew Leigh, a 27 year old white collar worker who spent the last 6 years working as an accountant of a Melbourne based accounting firm.
At the end of my 6th year I came to a realization that becoming an partner was not for me. I was very grateful for everything that my colleagues had taught me but it was time for me to make a decision and to take a step out into the unknown. So there I was in December 2018 right before Christmas without any idea what I was going to do in 2019.
I did have some general intentions to obtain a role in the industry as a financial accountant once the job market opened up in the New Year. In the last several weeks I had a bit more time to myself and less work after hours to focus on – so I spent it – reading, writing, watching and listening to anything related to personal finance and passive income. This was a concept, which started off roughly 18 months earlier after reading some very interesting books on similar topics.
The concepts of managing your personal finance and passive income was something which started to consume my life and I spent all day thinking about it and learning about it. It was something, which all my spare time such as going to the library at lunchtime, going straight to the library after work and working in a café before work.
I then started writing my thoughts in journals and before long I was flying through them. I started to type these journals up in a word document to keep all the related content in the same document. Then bloomed the idea of a blog style website for people of similar interests to understand and to provide meaningful feedback and discussions on the topics.
The 6 years in accounting taught me a few important lessons:
- Work Hard– throughout the year, you were always busy, there were always deadlines to be working towards and in the later years there was never any quiet periods. Each client you worked at wanted there work done as soon as possible and had high expectations of the work you were performing. You had to fit in your schedule around these expectations they set. I loved working hard, it became the norm. It was expected of me and I expected it.
- Resilience– You have to have a mental and physical resilience in order to work the hours required. There really was restrictions on your social life, as you had to work late nights and occasionally weekends. You cant let the work get on top of you and you cant mentally break down. You just have to keep going. The one factor that makes it all better is you work in a team environment so you really are in it together. Never give up.
- Adaptability– Each and every week for 6 years was working out of a different office. You were constantly exposed to new staff, new systems, new methods of business, different methods of communication. You had to quickly understand what you were playing with and adapt in order to get the job done. In contrast you could see the staff at the client you were working at had no adaptability. They could not handle change at all.
- Management of expectations– Everyone has expectations surrounding everything. You need to be able to understand what people expect, and communicate to them what your expectations are. The term management of expectations could summarize the entire day of work. When people say what do you do for a job, I should have replied with expectation management.
- High Performing Teams – I saw over and over again how important great staff was to a well functioning team. In order to function well you need to understand what is important to your staff. If a colleague has a young family, flexibility is important – they want to be able to work from anywhere and to be able to fit their family into their schedule. If someone is a fitness freak and needs to go to the gym everyday, there colleagues should know this and help make the staff member accountable. All to many times, no one ever put in the effort to find out what was important to their colleague, and a result there were a lot of unhappy staff members. I could see this in the teams all the time.
I continued to read and write throughout 2019 and spent any free hours I had delving into my craft. There was one thing that I did not want to do throughout the entire process, and this was to rip innocent people off. There are so many people out there who are in things for the wrong intention. I do all of this because I enjoy it and it is interesting.