Why You Need to Stop Ignoring Passive Income Right Now
If you’ve been “working for the man” most of your life, you’ve likely ignored perhaps the greatest way to make money and gain freedom—passive income.
You take a plane to London or Cancun or Rome—one of those places you’ve always dreamed of going.
You see the sights and tan on the beach. You taste new foods and explore famous landmarks. You spot wildlife you’ve only ever seen on Google Images.
You don’t check your email once the entire trip—or anything else on your phone, for that matter. Facebook, Instagram—it’s all forgotten on this beautiful trip.
When you return home, you check your bank balance and notice it’s grown since you left.
Sound too good to be true?
Well, I have good news for you.
This can be your reality if you create passive income.
The Frustrations of a 9-5 Job
At this point, you may be a bit unclear as to what passive income really is, even if you’ve heard of it before. It’s confusing to learn about, as everyone seems to have a different opinion on it.
Not only that, but it seems ALL financial advice, passive income-based or otherwise, seems to come with strings attached or contrary underlying intentions. You may have even felt a bit put off by your own financial planner before if they’ve tried to put their best interests before your own! The feelings of being misled or “sold” these days are seemingly constant.
But your main frustration is likely not having time to explore any options outside of your 9-5 job because of—you guessed it—your 9-5 job. Life is busy, and you have responsibilities up to your ears as it is.
And that’s a scary thought, isn’t it? How can you ever hope to escape the rat race when you’re already working full-time at the best salary you can find, and you STILL aren’t seeing good numbers in your retirement account?
Will you ever reach your financial goals?
More Money in Less Time—a Myth?
What you want is likely simple—more money and more time.
If working a 9-5 job isn’t enough to prepare you for retirement or fund your dream vacations, you’re likely seeking a more fulfilling alternative. (And a little more time with the family wouldn’t hurt, would it?)
Fundamentally, you aspire to obtain the seemingly impossible—to work less hours and somehow make even more money.
What is Active Income?
The reason people often feel “trapped” in 9-5 jobs is because they are directly trading time for money.
If you’re used to phrases like the following…
- “He makes $50,000 per year.”
- “She earns $3,000 per month.”
- “I charge $10 per hour.”
…you probably make active income.
Active income is an exchange of time for money. The more hours you spend at the office, the more money you make.
What is Passive Income?
Passive income eliminates the relationship between time and money.
It’s what gives you the ability to go on vacation and come back with even more money in your account than when you left.
It’s money that finds its way into your account while you’re doing anything other than working.
Why You Can’t Afford Active Income
Active income may seem like the easier choice between the two. It’s almost certainly what you’re most familiar with, and everyone else seems to do just fine with it—right?
In a 2017 GOBankingRates survey, 57 percent of Americans reportedly had less than $1,000 in their savings accounts.
Not only that, but 76 percent of Americans are living paycheck-to-paycheck, leaving them very little room for error before a catastrophic financial disaster.
The Severe Limitations of Active Income
As long as your income is tied to time, you’ll always be limited to the amount of hours you have in a day.
And as long as you’re “working for the man,” you’ll always be limited to the salaries companies offer you.
If you’re already earning as much as you can with active income and are feeling “trapped” in your situation, passive income is your best path forward.
Passive Income: Your Knight in Shining Armor
Passive income is the money you earn after your work is already complete. It can be earned in many different forms, such as:
- Royalties from books, movies, or songs
- Affiliate links on your blog or YouTube videos
- Online membership fees to an online course you already created
- Renting out equipment you own (camera gear, a bounce house, etc.)
- Real estate or business investments
Passive income has an understandable appeal, particularly to those concerned about meeting their retirement goals.
For example, to generate just $5,000 per month in retirement income from a portfolio, assuming a 5 percent withdrawal rate, you’d have to amass about $1,200,000 from active income (and you’d better hope you don’t live a day past 20 years in retirement, or you’ll be out of money).
Passive income, on the other hand, can help you create $5,000 per month forever, and it won’t take half as long as saving up over a million dollars in active income (particularly if you familiarize yourself with the buy and hold strategy).
Reach Your Goals With Passive Income
As long as there are 24 hours in a day, active income will severely limit your financial advances and freedom.
Making the switch to passive income will open the doors of epic wealth, free time, and a lifetime of advantages and options.
If you want to stop ignoring passive income and start working toward your own financial freedom immediately, I have a free real estate investing course for beginners.
You’ll get access to video tutorials walking you through every step of a real estate deal, the resources you need to make it happen (think buyer/seller interview sheets, example property flyers, a formula for writing personal notes, a script for presenting offers, etc.), and direct access to me during our monthly coaching calls.
Plus, I’ll literally PAY YOU to get your first deal!
Go to freerealestateinvestingcourse.com now to get the details and make your pledge!