Impact Finance

In his 2007 book The Black Swan, Nassim Nicholas Taleb says the Black Swans of his title can appear at any time, in the form of financial crises, wars, and other unexpected events that have profound, irreversible consequences. Taleb draws on philosophy, mathematics, economics, and other disciplines to explain in plain English why we seldom prepare for these events adequately. The way our brains process knowledge lull us into believing the future will resemble the past.

Do you envy the business people who constantly talk about how they have all the time in the world to go on vacation, and that they can afford these luxurious vacations? Have you often wondered how they did it? If you ask them, you will most likely receive a vague answer that referred to some investments or passive income. But what is passive income? Ideally, passive income is income that is relatively regular and comes from a source that you put minimal effort into every month to earn.