Originally Posted by Unregistered

Found from internet, this interesting and sobering quote from Warren Buffet : "If you don’t find a way to make money while you sleep, you will work until you die."

What did he mean by making money while we sleep? I take it to mean passive income from our investments.

Another thought provoking post to think about from a financial blogger. It is about having a back up source of cash flow:

"Recently, my water heater in my toilet has gone haywire and stopped working. It no longer provides me with warm water flow any more. I have no idea why it has stopped working. Probably it has a limited lifespan – I have used it for 6 years. Or probably the wires inside must have short-circuited. No matter what may the reason be, it has stopped providing me with warm water flow.

Luckily, I have 2 toilets at home. The water heater in that toilet is still working and it is able to provide me with warm water flow. So no impact to my normal life. It took 3 days for me to find a replacement for the water heater (with installation) for my first toilet.
What if it is not a spoilt water heater. This leads me to my second portion of my thoughts. What if the issue faced is not a spoilt water heater and it is a loss of job. It is no longer about Water Flow. Now it will be a stoppage of Cash Flow.

One and Only Cash Flow Channel
Most people have only 1 cash flow channel. For employees, it will be their job which pays them a monthly salary. For self-employed, it will be their business commission or business profits. For those who have lost their jobs, how long do they need to find a replacement job? Can it be as easy as finding a replacement for a water heater within 3 days? During a good economy, finding a job usually takes less than 3 months. In a bad economy or recession, it will take at least 6 months or longer to find a job. Worst, there may not even have enough jobs as companies are cutting down on their hiring. For the self-employed, your business commission or business profits may be reduced in a bad economy.
So is another channel of cash flow necessary for you?

My answer to this would be, we not only need channels of cashflow, we also need to know how to build them and to build them fast, before the primary channel of cash flow stop"