Brad Sugars

Most people, that number is negative.

They're paying this month's credit card bill.

Like the bill from last month is being paid with this month's income.

So they're at a negative wealth situation.

That's crazy.

So that comes to the term passive income, right?

And people keep hearing the term passive income.

Most income can't be 100% passive.

It can be maybe 80%, 90% passive, but it can't be 100% passive.

Like even real estate, you still got to do a bit of work.

Even if you got a property manager, you still got to take calls and do the math and taxes and all of that sort of stuff, right?

But if you can get your money-making money

So phase one of money is making money.

Firstly, it's your time making money.

So phase one is your time makes money.

Second phase, your knowledge makes money.

Okay, so when you first start out, all you get paid for is your time, because you don't know anything, right?

As you learn a lot, you get paid more because you got more knowledge.

Third phase is that your people make money for you.

So it's you working, then it's your knowledge working, then you employ people.