Passive income means income that you receive regardless of whether you are physically working at the time or not.
It is the most lucrative form of passive income, it can free you up and give you more time to focus on what you want to do in life, what you really want to do with your time.
Think about it, it seems silly that you only get paid when you are working, doesn’t it? Are you only paid when you are physically at your desk?
What if you get sick or want to take a vacation longer than the 30 days that most companies allow you per year? You can’t, or at least you can, but you stop making money.
Table of Contents
Passive income can set you free
This means you could be earning passive income while you sleep, or while at the beach, the point is, it’s all about you even after you’ve finished setting it up. It’s like a faucet that you can turn on, and just leave it running. This recurring income is the most sought after in the modern world.
Everyone wants to earn a passive income. Who really would rather sit behind a desk paperwork than be on vacation with their family on a beach? Exactly. But many people end up wasting time at a desk because they don’t know how to set up this recurring income.
The hard part is turning on the tap in the first place, and getting the money flowing. However, when you’ve done that, you can simply leave it to generate passive income and retire, or even add another passive income stream.
Sounds interesting? Let’s explain what is meant by this and how you can start earning passive income yourself. In this case we can point you in the right direction.
Why am I talking about passive income?
Not having enough money or being stuck for a job will kill your motivation and make you feel like you can’t get to where you want to go. That is not what we want for you at School of Wealth, we want to help you break free and do whatever you want to do.
So this is a post that introduces the idea of Passive Income and how to slowly start working your way out of your job. I’ll show you how to get started with it, and then it’s up to you how much effort you put into it and whether you decide to level up or not.
Passive income gives you more time
As stated above, Passive Income gives you more time to work on yourself, you can spend more time with your loved ones, and you can go on vacation however you want. You can travel the world, and do whatever you want.
Of course, you can also choose to continue working and combine Passive Income with Active Income (money that comes to you only when you are working) for the most benefit, but the choice is yours.
The point is, life is short, and many people spend their time working the jobs they hate, so they can keep living and the jobs they hate. Little vicious circle, huh?
Passive income can free you from that trap. It allows you to work hard for a period of time, and then once you’ve put your system into action, the momentum will continue to make you money from then on. It’s about working hard now, so you can reap the benefits later.
It is more stable and secure than a single job.
Passive income is much more stable than a normal job, because you can have complete control over it.
You decide how many hours to work on it, how much effort to put in, you can add multiple streams of passive income from various sources, and if one stops working, you can simply move on to another. You can adapt and evolve your income streams based on what works.
There are always new things and new opportunities to earn income, and you don’t need to physically work to enjoy an income. Think about this, today we have millions and millions of people using the internet every day. That’s a lot of money floating around. You could capitalize on this flow of people and money.
Easy to get started, but hard to get
To start earning passive income, you just need a few things.
-A computer with internet.
-A passion of some kind (in fact, you don’t even need that, we’ll show you how to get it).
-Time and Motivation.
-Patience; you won’t see results right away.
It’s actually pretty easy when you know where you’re going, and like most things in life, you’ll be successful if you have goals and know how to achieve them. It’s as simple as that.
Probably wanna read:
- What is a Passive Income?
- Do you know the best way to earn passive income?
- How to make money on Instagram | Complete guide with 5 ways to achieve it
