Design Your Dream Life Through Passive Income | Alex Szepietowski | TEDxUniversityofYork
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Alex describes his experiences as a young entrepreneur and the steps many others could take to follow in his footsteps.
After interning in every industry he possibly could, Alex realised that, more than any job in the world, he wanted to be his own boss. In 2012, without money or experience and in his 3rd year of PPE at York (Derwent College), Alex read ‘Rich Dad, Poor Dad’ and decided to start investing in property. He spent his student loan on learning how it was done, and 2 years later owned 24 houses and won a few national awards. Alex is incredibly passionate about inspiring others to believe in themselves and forge their own path, irrespective of their circumstances, or what ‘the norm’ dictates!
Why is it important to start small when pursuing passive income?
Design Your Dream Life Through Passive Income | Alex Szepietowski | TEDxUniversityofYork
We all have dreams and aspirations that we want to achieve in life. However, sometimes, it may seem daunting to pursue these goals, especially when one is caught up in the daily grind of earning a living. This is where the concept of passive income comes in, a topic that was addressed by Alex Szepietowski in his TEDx talk at the University of York.
Szepietowski began his talk by asking the audience a thought-provoking question, “What would you do if money wasn’t an issue?” It is a question that many of us have been asked before, but most of us have not taken the time to consider in detail. The speaker emphasized that the question was not about being frivolous, but rather about considering how one would live one’s life if financial constraints were not a factor.
Szepietowski proceeded to explain that the pursuit of passive income involves investing time and money in something that generates revenue without ongoing effort. In other words, one works hard at the beginning to set up a system that generates income continually. He stressed the importance of starting small and gradually building up a portfolio of income streams. This way, one could eventually have multiple income streams, which would provide a safety net and give them the freedom to pursue their passions and dreams.
One significant advantage of passive income is that it allows individuals to have more control over their time, unlike a regular job where one has to trade their time for money. This newfound autonomy can provide opportunities to travel, spend time with family, work on hobbies, or pursue education. Moreover, passive income can be seen as a way of achieving financial independence and stability. With multiple income streams, even if one source dries up, there are still other sources that can support the individual.
Szepietowski shared his personal story of how he went from being broke to becoming financially independent, thanks to passive income. He stated that the secret to his success was in identifying the right income streams that worked for him, which included real estate, affiliate marketing, and online courses. He further noted that passive income is not a get-rich-quick scheme, and it requires dedication, patience, and hard work.
In conclusion, Szepietowski’s TEDx talk highlights the importance of designing one’s life by pursuing passive income. It is about taking control of one’s destiny and creating a path towards financial freedom, which can enable individuals to pursue their passions and dreams. The speaker urges the audience to identify their unique strengths and interests and explore the various passive income opportunities available. Ultimately, the pursuit of passive income can lead to a more fulfilling and satisfying life.
Reference:
Szepietowski, A. (2019, June). Design Your Dream Life Through Passive Income. TEDxUniversityofYork. //www.youtube.com/watch?v=aaA-n3L87zc
