Name: 【TEDx】Design Your Dream Life Through Passive Income | Alex Szepietowski | TEDxUniversityofYork
Uploaded: 2018-02-13T22:00:00.000Z
Duration: 15 min 6 s
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Translator: Queenie Lee Reviewer: Denise RQ

The average person in the UK has only 11 weeks income saved in the bank.

How long could you live for if your paycheck stopped coming in?

and it might be a little bit scary to think about.

Today, I'm going to share with you about passive income,

and how to design your dream life through building up your passive income's dreams.

Designing your dream life through passive income,

In October 2012, I knew absolutely nothing about passive income.

I was here, it's like you've said, I was at B Block, Derwent uni,

I knew that you go and swap your time for money,

that's called active income or earned income.

It's what you do when you get a job, and that's what 99% of us in the world do.

The opposite of that is passive income, or recurring income.

and you continue to get paid recurrently for very little or no actual work.

When your passive income, the recurring income,

what you spend on food, utilities, petrol, all that kind of stuff

when your passive income exceeds your cost of living,

If you happen to lose a job or not get a paycheck,

Now, why is that important? So this is a question, get ready for it.

Can you think of reasons why your paycheck would stop coming in?

So you're sick, or you're incapacitated, you're unable to swap your time for money.

You get fired? Fantastic, perfect! Has anyone been fired in the room?

that could be a global financial crisis, or it could be modernization.

Things like that Lehman Brothers collapse,

That might have nothing to do with your competency at your job.

You might also be taken over by a new firm.

There's a merger, and there are two of you at the same job.

Or maybe you just fall out of your boss, and he asked you to trot along your way.

It may not actually be due to your competency whatsoever.

That's not a great position to be in, is it?

If your financial security is effectively based on circumstance,

or things that might be out of your control.

I just finished my second year, I got a first, which was great, in PPE.

I tried banking - I tried Citigroup in Canary Wharf

I tried accountancy, I tried law, I tried sales, IT sales, PR

of what I thought respectable people go and do these things.

And I really enjoyed it, I didn't dislike the jobs.

so if you're watching, please, don't think I didn't.

I couldn't see myself spending the next 45 to 50 years,

What happens when we get to that age now?

I couldn't spend the next 50 years of my life doing this thing.

they said to me on my final day, in Hornbeam Park, Harrogate.

They said, "We want to offer you a job when you finish uni,

but we're not quite sure if it's right for you."

And I thought, "Well ...," you know, I didn't know how to take that.

We'll bring in the other boss, and we'll have a chat."

They were like, "What are you doing smiling?

You know, we sort of saying we don't really want to offer you the job."

I said, "No one has ever said that to me."

I thought I can't do this, but I didn't know there was an alternative.

to say, "You know what? They're right. I can't do this."

it's like I'd shut that door, and now it was like, "Well,

let's start something from fresh, what can I do?"

So I went home that night and started googling,

as any self-respecting person does when they're faced with a life crisis:

I started discovering terms like, 'how can you be your own boss, '

'passive income', 'wealth creation, ' and words I've never come across before.

I started to read, and I've read about real life case studies,

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【TEDx】Design Your Dream Life Through Passive Income | Alex Szepietowski | TEDxUniversityofYork

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