For a very long time, the easiest way to wealth was to own capital and rent it out to those who need it.
From money, to property, to patents. Finite stocks, steady income, capital appreciation, low risk. Bish bash bosh.
Thomas Pikkety wrote about it eloquently in "Capital in the Twenty First Century", and highlighted the long term higher returns on capital than labour, something anybody in the Gig economy understands well.
“The 3 most harmful addictions are cocaine, carbohydrates and a monthly salary”
Nassim Nicholas Taleb. Black Swan
It seems to me there are three problems with easy, low risk, regular income. We get used to it, we think it's the way things are and we forget how to take risk.
This crisis has involved all three, overnight.
As I've listened to many excellent webinars (high five to Jericho Chambers, Home Grown and Transcending the Crisis) and other thoughtful forums, I'm noticing some interesting challenges for those living off rent:
Education. I don't care how many dreami…
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