Having one or more sources of passive income is without a doubt a very important aspect, if you are to live the life of your dreams. If you have a source of income that continuously generates a livable amount of money, then you are free to do whatever you want to, pretty much all the time. Far too many of us are slaves to our jobs and slaves to our income. Our only income source is active or earned income, meaning that as soon as we stop working the money also stops. This means we have to work on somebody else’s schedule, leaving far too little time to pursue our dreams.
The solution to this is passive income.
The second part to this puzzle is leverage. By combining leverage with passive income, your life quality can seriously improve. Let me explain what I mean when I say leverage. Most people go and do one hour of work and get paid one hour’s wage for that work, so they will never be paid for that one hour again. On the other hand if you leveraged your time, you could do one hour’s work and get paid again and again and again. A great example of this is royalties. It may take you six months to write a book, but after you have written it, it creates an income for you over and over again. A book is a great example of leveraged income.
There are lots of ways to generate income like this and you can do it doing the things you love. This website for me is a great example. I love doing it and it generate passive leveraged income from the affiliate book sales, my book sales and the advertising. I only have to write this page once but it will continue to generate income for a long time to come. You too can do the same.
Begin to look for ways to make money in this way, a little at first, then a livable wage and then a whole lot, why not? The ways are out there and if you look you will find them. Your reward for this work is more freedom than you have had in a very long time.