Passive Income, Aggressive Retirement: The Secret to Freedom, Flexibility, and Financial Independence ( and how to get started!) by Rachel Richards

Section One: Introducing the Secret to
Financial Independence

Chapter 1: Times Are A-Changin’
Ladles and Jellyspoons, the entire premise of this book is based on the idea
that traditional retirement does not work anymore, so it is essential to
understand what we mean when we say traditional retirement. How have
we defined retirement over the last century? How has that looked? How
have people achieved it?
Traditionally, people have subscribed to what I call the “Nest Egg Theory.”
A nest egg is a sum of money saved for the future. Fun fact: the term
originates from the practice of putting a fake egg into a hen’s nest to
encourage her to lay.
The Nest Egg Theory formally goes like this: save a bajillion dollars by the
time you retire and live off that for the rest of your life.
There is no doubt that the Nest Egg Theory has worked wonders in the past,
and the purpose of this chapter is to show you why. Without this crucial
piece of understanding, it would be easy to become frustrated with how dire
retirement might seem in this day and age. And I don’t want you turning
bitter!
After you witness the evolution of what was once a fabulous retirement
strategy, you will understand exactly why the concept of passive income is
so brilliant and why it works so much better today.

Passive Income, Aggressive Retirement: The Secret to Freedom, Flexibility, and Financial Independence ( and how to get started!) by Rachel Richards