Why Should you Create Passive Income?
Most of us are raised with the world view that we need to pursue higher education in order to get a great job. We need a great job in order to make money to support our families, in order to buy food, clothing, shelter, utilities, transportation, etc. Our jobs typically have set hours and we actively participate often working hard to make our hourly wage. With our jobs we are relying on our employer to be our source of income, benefits, and to give us the hours we need in order to support our lifestyles.
When we rely on our employer to be our source of income we do not have complete control over our schedules, time, benefits, how long we can stay away from maternity/paternity leave, etc. We often are used as a means to an end to make more money for someone else.
When we work hard to get raises we tend to buy more liabilities while at the same time increasing the amount of money we pay the government in taxes.
The author of Rich Dad Poor Dad, Robert T. Kiyosaki states, “The poor and the middle class work for money. The rich have money work for them.”
We should work hard for knowledge and use our knowledge, money and experiences to contribute to assets that work for us.
Examples of how to put your money to work for you include:
- Index funds, ETFs, mutual funds
- Peer to Peer lending and other notes
- Real Estate
- Owning businesses/developing a business
- Investing in yourself
What sources of passive income do you have? Please share below…
I also advise that you not only use your money to work for you but use the knowledge that you have created through experience and investing in yourself to create sources of passive income. Remember knowledge is power. With your knowledge and experiences create royalties, books, training courses, websites, etc. Share your experiences with others and provide content that is not only beneficial but helpful to your audience to help them become successful in life.
The internet is a powerful tool with over 2 billion people using it to find the information that they need. You could write ebooks (self publish) using your knowledge, passions, and skills. You can develop a business website based on your areas of interests.
You can create your very own business website…
If you have not already please read my “Get Started” page for more information. Websites unlike in the past are easier to create. You can create a website within 30 seconds. Please watch the video of how to create a website by clicking here.
If you have an idea and passion then I suggest putting in sometime to develop you very own online business. There are plenty of niches on the internet to explore that can be used to drive traffic to your website. To learn more about finding your niche go to Wealth Affiliate today.
Please drop a comment below with any questions, suggestions, or if you need help getting started . I want you to be successful on your journey to create passive income and towards financial stability. Let me lend a hand!
Your Passive Income Advisor