And it isn’t only about having time for vacations – but also the work you do. Or if you are earning a lot of money, but do not have the time – to be able to do what you really want to do. What if this happen when you have a family that depends on your income? Have you ever wondered what if, one day, you aren’t able to give time? What if you fall sick and cannot work for a couple of months. Professional services: Doctors, Lawyers, etc.Īll of these people are giving away their ‘time’ everyday to be able to ‘earn’ income.When Buffett talks about “work until you die” he is talking about individuals, who are working everyday for a fixed sum of money. Some of them were written decades ago, but are selling and making money today. Websites, Apps, content creators and authors of books are generating passive income.And as long as this article is relevant – it will continue to generate income. My work ends when I write and publish this article, but people will continue to read it for years to come. The article you are reading on this website (which has advertisement from Google), helps generate income for me.Not only is the channel generating income from new videos they publish, but also from old videos which continue to get views. Popular YouTube channels are generating income even when they are fast asleep.Here are some more ways people earn passive income: If you set aside half-a-day and think about ways to earn money while you sleep (passive income), the list can get pretty long. This is what Buffett means when he says “find ways to make money while you sleep”. Are you giving your time to earn dividend income? Nope. You buy shares of Reliance Industries and the company gives dividend every year.Are you working for that money? No, right? It is passive income. If you have a fixed deposit of 1 lakh, which gives ₹ 6,000 every year as interest.Right from childhood, we (Indians) are made to believe we need to work hard throughout our lives to earn a living.īut times are changing and there are multiple ways to generate income without ‘actively’ working for it. In simpler words, Buffett is encouraging people to “make money work for you – instead of spending an entire life trying to earn money” Let us try to understand the quote in a little more detail, because it has the potential to change your life. The man himself is 92 years old, and he is still working.Īnd what does he exactly mean by “making money when you sleep”. The world’s most successful investor, Warren Buffett, famously said “If you don’t find a way to make money while you sleep, you will work until you die”.Ī lot of people misunderstand this quote from Buffett.
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