Passive Income: Assets and Liabilities

In order to become rich you must at some point break away from trading your time for money directly. Working for a paycheck doesn't allow as much room for financial growth as investing in passive income assets does. The key is to grow your assets(income generating instruments) while limiting or eliminating liabilities(money pits, depreciating items without resale value or income generating potential). Once the ball is rolling it's about reinvestment of time and resources into acquiring more and better income generating assets, hiring trusted managers, and automating streams of income and reinvestment.

Here is a list of good passive income investments and liabilities.

Passive Income Sources (good):

Time
Health

Personal Skills and abilities
Experience
Tools of the trade
Storage Units
Rental Properties
Equipment rentals
Billboards
Blogging
Network marketing
Patents and intellectual property
Vending Machines
ebooks
government benefit checks and grants
government subsidized education
leveraged income: trusted people that work for you or manage your companies or investments.
interest income: savings accounts, stocks, bonds, forex, mutual funds, instruments.
sheltering: offshore, LLCs, corporate tax structurings.
insurance policies
internet products and memberships: downloadable software, training, information services.
re-occurring billing for products or services.
finance charges and various processing fees for services.
affiliate programs and network marketing.
copyrights, books, original works, ideas, or art.
Specialized knowledge, skills, and abilities.(Education, training, )
Managed businesses
People that work for you.
Your savings: lending, venture capital
Entrepreneurships - projects, ideas, profitable ventures
Capital Gains - living in project houses while renting a portion and fixing it up, ect.
Items that you can sell that you don't necessarily need or use.
Good credit: for taking advantage of investment opportunities.
A garden
Livestock
Orchards
Land use and sharing agreements.
Good social networks.


Liability Examples (Bad)

Rent
Mortgages
New cars
Toys
Depreciating items with lowering resale value.
Time wasting activities.
Laziness.
Bad and costly habits. Smoking, drinking soda/alcohol instead of water, eating out.
Credit card debt not used to buy better assets or investments.
Spending habits
Lack of desire or willingness to save and invest money.
Overhanging debt that must be taken care of before investing.
Poor health
Investments that aren't outpacing inflation.(stagnated savings accounts,ect.)


Just a few ideas that I think influence peoples ability to grow and maintain wealth.