Financial Term Du Jour: Passive Income

Ahhhh, how I love this concept!

I mean, seriously, what could possibly be better than making money while you sleep so that you can serve people by doing things that you truly love instead of working a j.o.b. doing something you’re kind of meh about for taxable income that doesn’t always seem to go as far as you’d like?

This is what makes passive income one of my favorite financial terms and the first one to be explored in my blog!

One thing I appreciate about passive income is its simplicity.  Passive.  Income.  Money you make without expending energy for it.  Boom.

Money.png

Now, don’t get me wrong, you will need to spend time and energy investing in things that can create passive income streams for you, like-wait for it-Real Estate!! Other forms include royalties from books, movie scripts, music, etc.  Could be income from a blog or from an online store.  Once you set up the product, the money gets generated while you sleep and move on to doing something else you enjoy.

There are also cryptocurrency mining companies that pay investors back on a weekly basis that provide passive income as well.  I have been looking into these and having taken the plunge yet but I am considering investing a small amount to see how it goes.  Maybe I’ll do it just to write about the experience…

MoneyMouth.png

I highly recommend you read Rich Dad Poor Dad by Robert Kiyosaki to gain more insight about terms like this, as there is a lot more to it than just simply buying a property.

“Money isn’t the most important thing in life, but it’s reasonably close to oxygen on the ‘gotta have it’ scale.”

-Zig Ziglar

I think it’s good to remember that money can’t buy you everything-but it can buy many things, including options and the freedom to choose what you do with your time.

Time is the purest and most valuable currency.

Time.png

Time, in my opinion, is the purest and most valuable currency and I am working every day to free mine up to do more of the things I love and serve more and more people with my gifts.  This is what brings me tons of joy, and I want the same for everyone.

I hope that all who read this will be inspired to look into how passive income may help make life’s dreams come true and take steps to make it happen.

As Captain Planet would say, “the power is yours!”