Being your own boss can be tough! This is to inspire one another, to truly enjoy the one life we are here to live! That’s why creating different sources of passive income is so important and a key factor in achieving financial freedom aka living the life one deserves.
Why is passive income important?
It exists once, then it's gone. And that's precisely why passive income is so important - because time is more valuable than money. Unlike money, which can be spent, invested, squandered and lost, we can't tuck away minutes on a clock, having said that, creating passive income stream is far from automatic.
Time is precious, but also sacred; just 24 hours in a day. Thats all we get, no one person on this earth has more time than that. No matter their age, occupation, religion, colour of their skin or where they live.Time is the greatest equaliser because not a single person can have more of it. It can never be recreated or re-spent. It exist once, then it's gone. And that's precisely why passive income is so important because time is more valuable than money.
Passive income is quite possibly one of the most important and central ways that the rich get richer. It is how you detach your ability to earn from the time that you do have in a day. With passive income, you do make money while you sleep. You also make money while you are awake. Its automatic and simply coming in.
While passive income might not be the answer to all immediate problems, it is the pathway to success and most certainly the foundation for wealth and happiness. When you are not stressed just to make enough money to pay the bills and you are no longer living from paycheck, there is a mental clarity and an emotional release that sets in. You become free from the shackles of a life sucking 9 to 5 and begin embracing a more fulfilled life.
You will have time to choose to work or spend those precious moments with your children, you are free. You are free in the greatest sense of the world.
Passive income investments are all about earning regular monthly income that can sustain your daily household expenses while maintaining your standard of living. Many kinds of investors may be looking to generate a little extra cash flow from their portfolio.
However, if you are still working and considering passive income, then think about how much income you would need every month to maintain a certain standard of living that you desire. Good luck!