Are you familiar with the concept? What does it sound like to you? If it sounds like you can earn money by doing nothing, you are right. Sort of. What it actually means is that you can earn money in a different way than you do in your main job. This could happen in several ways, the most common one being online.
Making money online. So is it a side job? Well, it could be. And you can do several at once, since you will not be getting paid by the hour or doing actual 9-5, 40 hours a week work.
It basically means you can make money while you are doing something else. It sounds perfect, right? Well, probably because it is. Can you come up with a better way to make money than one where you do not have to be putting in immediate work? Of course you do, but all of those things that crossed your mind are illegal. Now, let us be serious and discuss why passive income is so important and why every productive individual should consider it.
Think about rich people. Now think about very rich people. Do you think all of their money comes from the same source? It can happen but it is not very common. They usually have income flowing in from several sources. And that is what makes them so wealthy. Now, you might not become a billionaire while you are starting to get into passive income but it is, for sure, a good way to get there.
You can have exactly the same as they have, meaning you can generate income aside from your main income that you earn from doing your day job and which can be called active income. Yes, it is active because you actually need to move your behind in order to get a salary and because it comes in a regular flow, regularly, weekly or monthly or whatever, according to the type of job you do.
If you earn both active and passive income you are being twice as productive and earn twice as much. Or maybe ten times as much, depending on what you are doing and how much you are earning from that.
Are you now able to differentiate these two types of income? One is your main job, which pays the bills (hopefully) and the other is money you can get if you are willing to do something else, something extra, to earn a bit more cash. Or even a lot more cash, if you decide to put in the work, which is does not have to be that much (as you will later learn), and the investment which is either small or even inexistent.
Do you understand the importance of passive income now? It is about productivity. It is about making the most of your time and money. You can make more money while you are doing something else, even while you are at your current job. It sounds like a pay raise, does it not? It also sounds like freedom.
The more you earn from passive income the more you can do something entirely different with your time. This is one of the main reasons you should consider finding a way (or a few) of earning passive income. It is the type of income that might allow you both general and financial freedom.
Okay, now you are definitely interested but you do not know what to do or where to start. The advice is to come back and read the next article in this series, where you will keep learning how to be productive and successful, through passive income.
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And as always.
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