TangoPango /Foter

You do not need a mentor. –Chris Guillebeau

This quote hit home for me yesterday. I’m reading The Art of Non-Conformity and there’s a lot of good thoughts to chew on in there. This idea of a mentor struck me because I’ve been thinking a lot about how I want to make money, and how my role models have interacted with money. And honestly, I don’t think I know anyone who is very good at it. So then I have a lot of frustration with not knowing what is the best approach to meeting my money goals, or even if I have the right goals in mind. “Someone should teach me these things!” I think.

So this quote above from Chris, from a list of things you don’t need in order to have the life you want, stopped me short for a second. Of course, things would be easier of someone held my hand through the process, but I don’t really need that. I’m pretty smart, reasonably motivated, and I have access to the internet. I can probably figure it out. But there’s something deeper here too. Chris was moved to put that in his Top 5 list of things you don’t need, because SO MANY people wish they had one. We’re all shot here, and we’re all just doing our best to muddle along. If I’ve figured out how to pay my bills and stay happy at the same time, I’m doing better than a lot of folks. Most of you reading this are also pursuing work that makes you happy, at least most of the time. Could it be better? Probably. Is there someone out there who’s going to take you by then hand and walk you through step-by-step? Probably not. I think that means you’re going to have to find your own path. And when I say “you’re going to have to” what I mean is “I’m going to have to”.

And I’ve had a reminder recently about how important it is to word your goals carefully, and remember the details. My goal is to make more money. That is distinctly different than having a goal to get more work. I got them mixed up recently, and after a 60-hour work week it’s true that I have more money. But I don’t have more happiness, and I didn’t have enough time to spend with my family. So to be more specific, I’d like to make more money, without working any more hours. And that brings me around to the title of this post. I’m going to write more in the future about the difference between active and passive income, but I’d like to hear what you think about it? What does passive income mean to you? Do you have passive income streams set up already? Are you happy with how they work? How could they work better?