Have you ever thought of travelling for vacation but work obligations are holding you back?
Have you ever felt like you badly need to relax, unwind and go somewhere else but the pressure and anxiety of inability to pay your monthly bills get into your nerves?
Well, John Wooden, an American basketball player and head coach at the University of California, Los Angeles, once said, “Don’t let making a living prevent you from making a life.”
Money is not the only most important thing on Earth, but time as well.
You see, you can always find money if you work hard for it but you can never rewind experiences, pause moments and undo circumstances. You can never repeat time. It’s either you do what you love to do now or regret forever.
The sad truth is that we are not able to make things happen as we want them to be because we need to earn to live. So how are we going to make a life when monthly payments are waiting?
This is where passive income comes in; but before we jump in to the most important details, let us first discuss what passive income is.
Passive income is receiving income regardless of whether you are physically working at the time. It is automatic and simple keeps coming in.
Some people get rich not because of their work but because of the passive income they earn. Plus, these people are happier and stress-free because they get to do whatever they want while being able to pay all their bills. They usually earn passive income from sources such as loan interests, website advertisements, and real estate rentals.
It takes a lot of effort and time exertion in the beginning but passive income is your pathway to financial and time freedom.
So why passive income is so important for everyone today?
You may wonder why people are going crazy over this passive income thing, right? Well here’s a list of why having passive income is significant to everyone’s life.
Passive Income Gives You Freedom
Employees could hardly give time for themselves because 24 hours a day is not enough for them to get everything done. A 9 to 5 job is not actually enough with all the reports, presentations and homework that they still need to do at home; and take note: those are not paid by the hour take-home work.
The point is life’s too short. Too many people spend their whole life working jobs in order to go on living but forget that they are not making a life.
Passive income enables you to limit your working time and free some of your time for recreations as your passive income handles your payables.
Passive Income Leverages Your Money Instead of Time
Since you do not have to work to get passive income, you are able to save your working hours and spend it on doing things that satisfy you. Even without spending much time, the income you get from passive income continues to grow.
Passive Income Helps You Achieve Financial Goals
When you receive income automatically and do not need to worry about your expenses at the end of the month, it gives you time to research and look for more investments and trends that leverage money. It allows you to think and look for more ways to further strengthen your financial stability and make it grow.
So, if you’re planning to go on a holiday vacation this year or in the coming years, then it’s time for your to work on your side hustle that produces passive income. It’s one of the only ways you can gain time and financial freedom, not worrying the bills that are coming your way.
Again, life is too short so live it!
If you’re unsure of what kind of passive income suits your needs, capacity and resources as of the moment reach out to me. I’m a serial entrepreneur with several multimillion dollar businesses under my belt. I know what I’m doing and by the time I’m done mentoring you, you’ll know what you’re doing to. Contact me today to learn more about what I can offer your business!