Passive IncomeThe Goal is to create Passive Income. This is the only way for financial independence. You can find examples below. Take a tour with me. > Living Expenses
Why we compare passive Income with living expenses?
Financial freedom is a moment, when you don’t work, but you earn more money than you spend in a given time..
Financial literature writes about the importance of time. In order to apply the rule you need to use a precise time unit. Let’s use a month as a base.
In order to check the rule passive income > living expenses, we need to find a correlation between income and expenses every month. You should use a good Balance Sheet, to help manage your money.
Think about your life as a video game. Finances are a serious subject, but we need to take our life little less seriously.
Achieving Passive income > Living Expenses is just like winning the game. We all can win our life! The solution is here. It’s time to start the game!
Why passive income?
What’s the difference between active and passive income?
Please, imagine the situation. You work from 9 am to 5 pm and you can make good money, and after work you have free time. It is called a phenomenon of ACTIVE INCOME.
Another situation. If you work … where is the work time? Gone? Yes! You have time to decide what you want to do, and you earn money all the time (even overnight – when you sleep!) This is called a phenomenon of building PASSIVE INCOME.
Passive income occurs when you don’t use your time to make money. You need to understand the concept of passive income in order to become financially independent. Please keep in mind, that money don’t grow on trees. You need to plant a seed first (hard work), and collect fruits (benefits) later.
Our (worldwide) education system still teaches us, that the one and only way of living is to get a good education first, then find well-paid job, get a promotion, work hard every day – year by year – and in the end retire. This model of life was good in the Industrial Age. Right now we have some infinite possibilities to make money smarter and quicker. We can work from home, we can start own business, and we can even create a blog and make money from our hobby. Please take your time to think about it. There are more and more young millionaires. Some of them make money from music, video, YouTube, advertising, reading and writing or sharing their knowledge. Please look at the websites like Kickstarter . I’m sure everyone has an idea worth millions!
But what if you like your job? Please, keep in mind that having a well-paid, satisfied job is ok. I also prefer to work on the daily basis… but what would happen if you broke your leg or you got really sick? When you don’t work, you don’t make any money. Please be aware of the fact, that everything can happen it life. You need to be always prepared for whatever happens in life. Having passive income will always help (secure?) you. What is more, it can be a life-saver (and of course it leads you to wealth and financial independence).
Passive income examples
You can find some useful passive income examples here. Please read carefully, choose the best option for you and start building passive income. I am here to help you achieve your financial goals.
Remember the rule: Passive Income > Living Expenses. To build a solid base for passive income, you’ll need a good plan and some financial experience. Take your time and learn. Please check the list of all income examples below:
So… what are YOU waiting for?
Carry on and I invite you to the next pages >
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