Take a fresh look at your lifestyle.

#105 Be Proactive in Creating Passive Income

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Do you have a dream bucket? 

A dream bucket is the place in your mind where you can dream and plan without limitations. We can divide asset allocations between three buckets: The Security Bucket, The Risk or Growth Bucket, and The Dream Bucket. Of the three, the dream bucket is everyone’s favorite bucket. 

After working hard, saving, investing and strategizing to achieve financial freedom. You get to enjoy the contents of the dream bucket. Inside this bucket, you hold funds to do what you really want to do or create the experiences you want to enjoy and have some fun!

Good news! You don’t have to wait 20 years to dip into the dream bucket! By utilizing your funds with responsibility and wisdom, you can create that life you dream of… today.

Now, let’s look at what we discussed in this episode:

  • Defining the dream bucket
  • Your budget does not limit your options
  • Live a fulfilled life by giving back
  • Buckets help you visualize how you allocate your funds
  • Your challenge is to fill your bucket with big dreams

Here’s a breakdown of how this episode unfolds…

[4:19]

What’s in your dream bucket?

Everyone is different, and everyone’s dream bucket will include different things with different priorities. In fact, I think you learn a lot about people by what they place in their dream bucket. You learn what their desires are, what they appreciate, and what they strive for.

[5:08]

Let’s be honest: we work hard, we want to play hard. There’s nothing wrong with that. There is no money-shame in using your wealth to enjoy life.

[6:46]

Stewart Butterfield, the founder of Slack and Flickr, described wealth not in monetary value, but in the following three levels:

  • Level 1: I’m not stressed about debt
  • Level 2: I don’t care what stuff costs in restaurants
  • Level 3: I don’t care what a vacation costs

[8:59]

It’s fun to dream and have goals. Make a list and dream a bit. What would you put in your dream bucket? 

[10:51]

 A dream bucket gives you the ability to have a global impact. Use your income to fund and bless others. Budget a portion to give and contribute in a greater way.

[12:39]

The idea of buckets can be a very helpful way to visualize your finances. It not only helps you allocate funds where you want them, but it can also help you achieve your goals.

Happy fulfilled people serve their family, their patience and others better. Don’t be afraid to dream big and years down the road, the value you gave to others may surprise you.

 

We want to hear from you….
What is your story of studying the metrics to make a well-informed investment decision?Leave a comment below!

 

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