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Rich is having passive income greater than your burn

The Algebra of Wealth [Scott Galloway] – “I know a lot of people who make an extraordinary amount of money, but few people who are rich. Rich is having passive income greater than your burn. People on a path to money focus on their earnings; people on a path to wealth also focus on their burn. Joseph Heller said, “It takes brains not to make money.” (Note: I think he was casting a favorable light on his starving artist friends). This may be true, but it definitely takes brains to hold onto it (i.e., money).”

Craft a Better Life Than Your Parents [Retire Before Dad] – “My Dad retired in the early 2000s at the age of 56. I was broke, unemployed, and living with my parents at the time. But I set the goal to retire one year younger than he did. In my mind, it was the best way to measure how I could live a better life than my parents.”

Why The Active vs Passive Investing Debate Misses The Point [Banker on Fire] – “Instead of debating the merits of active vs passive investing, it’s far more productive to focus on actual investing.” The problem with most investors isn’t what they’re invested in, it’s that they aren’t investing enough.

How North Face Athletes Compete for Expedition Funding [Outside] – “The company sponsors some of the best athletes in the world, from Emily Harrington to Alex Honnold, all of whom are vying for a slice of the brand’s annual budget to support their expeditions. The process can be as competitive as getting into an Ivy League university—except, if approved, the athletes are often taking on death-defying adventures.”

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