I spoke to an unmarried couple yesterday: Income: $150K each (base + commission) CC debt: $40K him / $30K her Car loan: $40K him / Lease her Their questions: "How can we make passive income?" "We want to buy a house soon. How should we do it?" What would you tell them? 👇
I told them Forget passive income. Best thing they can do for income is excel at their jobs. Commissions = $$ They're in no position to buy a house anytime soon. CC debt first Part of a Rich Life is being honest with yourself & your partners But the most interesting thing...
@ramit When you say CC debt, is that the balance that gets paid off in full per month, or quite literally racked up debt that needs to get paid down over time?
@ramit I'd tell them to buy a copy of Rich Dad Poor Dad
@ramit Do you ever describe credit card debt as the opposite of passive income?