The Benjamin Franklin and the Leonardo da Vinci approach.... :)

Hi Gordon,

> So you can diversify greatly this way. Or
> you can be involved in several things like
> Richard Myers.

> Richard has a successful bathtub repair
> business and also is a partner in a
> commercial greenhouse and is also a
> publisher.

> He is publishing my golf audio programs
> along with several other works too. So he is
> an example of Multiple Disciplinary Effort,
> his streams are totally in different fields.

> Also, a person can diversify into passive
> modes, like real estate, especially rental
> properties.

> All kinds of ways to be fruitful and
> multiply your incomes.

Gordon, this approach kind of fits my personality, I think....

I like to sometimes think of it as a "Benjamin Franklin" approach. :)

Benjamin Franklin was so many things.... publisher, author, inventor, scientist, and statesman! (Just to name what popped into my head!)

Or you could think of it as the Leonardo da Vinci approach. He was a painter, inventor, and scientist too! And inventor of the secret backwards handwriting you can only read when looking at it in a mirror.... :)

I've always tended to dabble in diverse things....

So, even while I was doing quantum optics research, I was also dabbling in studies of the phenomenon of consciousness, and also studying investment techniques for the stock market.....

I also agree with what you said about passive income.... My goal is to get as much passive income happening as possible.

I really enjoy the stock market, because it's making money for me no matter what I do. Because I like to take a long term approach, I only have to do the work researching before I buy a stock.... Then, after I buy, I relax and forget all about it. A few months later, often I'm thousands of bucks richer....

But even if I'm not, I'm not worried, because I usually look to invest for 5 years or more.... (Like I said, I'm long term....)

But there are many other passive income streams. With many businesses, they can be turned into passive income streams, I believe, if you are earning enough.... That's because you could hire others to do all the work, including a manager to oversee it all.... As the owner (or part owner, if you give some ownership to the one managing it), you'll still get a passive income stream from the business as long as it's profitable....

For example, lately, as you know, I've been going to stores to persuade them to carry a new range of blank CDs. With small stores, often you find it's the owner who is also running the store. However, with some of them, the owner is nowhere to be found, and doesn't run the store.

In these cases, the owner has delegated the task of running the store to someone else. However, the owner is still making their passive income from the store, even though they're not running it, because they own it. It's the power of owning an income-producing asset....

I own income-producing assets, because I buy into them on the stock market. But by using the power of delegation, you can create them yourself too (though I'm still in the process of doing that).... :)

Or by using the power of copyrights, too, when you create a product. That can also be a source of passive income, of course.... :)

I'm also still thinking about creating more little money earners, so that there are a whole bunch of them.... It's a very good approach.... Thanks Gordon. :)

- Dien