Why to have a Passive Income Source?
Have you ever experienced money working for you? Have you ever thought of money sprouting like a crop even while you are not working?…I guess the answer is NO. Since the inception of Human-kind, we all have been taught to work for money, Am I right?. Active income is what we all generate during our lifetimes and we rarely think of the probability and the existence of “Self-Generating passive Income”.
Living in the 21st Century we are still not monetarily liberal and don’t know much about MONEY FUNCTIONS. However, there is still time to learn, as the end is nowhere near. My sole purpose is to share a bit of my take on Passive earnings and I’m still in process of learning.
PASSIVE INCOME is basically money working for you throughout 24 hours. This means cash is generating even while you are asleep. As per research, 18% of our life’s earnings are Active i.e. through job (Which always has been our major focus). While more than 80% of Income that possibly could have been generated is through Passive income sources. This shows the potential of having a continuous Income Stream.
Every Partnership Firm has a member which is a Passive one, guess what he’s the one who earns more than any of the partners. For instance passive income streams are possible through Seed Investments such as Shares, Mutual Funds, Bonds; Writing Informative content i.e. Blogs, Content writing; Investing in Real estate or any other progressive business startup such as Organic Farming; House Rentals; Starting your own YouTube Channel can be the biggest passive reward system that one can have. There are many more ways to continuous streams, these were the featured ones.
During ancient times, there lived a man JOSH who used to hunt for a living as those were the dark days with no advanced hunting equipment’s available. He managed to chase at least one rabbit a day with a lot of struggle.
That day he thought of formulating a tool instead of hunting. He used to kill with slings, although a portable weapon its aim was disastrous.
After a daylong hiatus and pain, he forged a new weapon known as “Tree-Trap”, being hungry for that day. Next day he initiated this tool and observed that, Deer’s actually got trapped. Not one, Not two. It trapped at least 5 deer’s. This eventually led to the productivity of the whole tribal region. Now he had the option to go alternate days for hunting because he could manage saving Food for the day on which he was not hunting. Through this short tale we can see two things happening:
- i) A Stream for hunting deer’s and back up-ing them (Saving)
- ii) The convenient usage of new trap and hunting on alternate days (Investment).
Hence, it is very important to know where our interest lies apart from JOBING! and to use that very same interest to our own benefit. Everything in this world is an investment, so grab the right time and invest in what you love.
Dear Prime Minister,
I think its time we inculcate concepts of Financial freedom and awareness in school’s curriculum, this is a necessity in present time and further delay in implementation would only hamper future Financial/Economic progress of India. If every Indian is Financially free and knows the power of passive income, we for sure can reach out to the underprivileged towns of our country and convince them its utility.
“A Financially Literate India will be a Super Power”
Savings + Passive Investment = Financial Freedom
“If you don’t find a way to make money while you sleep, you will work until you die.”- Warren Buffett.
“To obtain Financial Freedom, one must be either a business owner, an investor, or both, generating passive income, particularly on a monthly basis”. – Robert Kiyosaki.
“You become Financially Free when your passive income exceeds your expenses” – T. Harv Eker.
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For the follow-up article “Best Business to start in 2018” visit this link : http://fortunatevoyage.com/best-business-to-start/
Three words describe me – Traveller, Entrepreneur, Writer
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