Why You Must Have Passive Income

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Why You Must Have Passive Income

Just like Robert Kiyosaki, the author of the bestseller Rich Dad, Poor Dad, I am also fond of playing monopoly during my younger days. It is truly an amazing game. it teaches you how the real world works and yes, how to become rich.

If you remember, monopoly is a board game on property investment. The idea is to accumulate properties and bankrupt your opponents. The last guy remaining is the winner.

In real life, you need to invest in assets that can provide you with a source of passive income. Accumulate enough assets and soon you may not even need your salary. Just like monopoly. The income from your assets is enough to pay off all your expenses. And once that point is reached, you have reached financial independence. Of course, you can still work if you want to. But now, you have a choice. Wouldn’t it be simply out of this world to have that choice?

In summary, passive income enables you to go higher at a faster rate. It doesn’t wear out, it is not limited by time, does not require our presence (not all the time), and in most cases, does not require our input. In short, no work is required. And that’s the best type of income anyone can have — as good as it gets.

Here are some benefits of having a passive income stream.

  1. One Time Work

Many people love their job. It gives them great pleasure to do the thing they call work. But I must admit that given a choice of doing a job that pays once or doing another job that pays again and again, I will surely choose the latter. I am sure uou will choose the same as well. 

2. A Loyal Slave

The moment you create a passive income stream, you have created a loyal and dutiful slave that will toil for you non-stop, taking no rest, no breaks and no medical leave. It doesn’t complain, doesn’t play politics, doesn’t picket and doesn't take you to court. All it wants to do is work for you. Yes, Yes, Yes.

3. Give You More Free Time

Because you do not have to do additional work, passive income gives you a precious commodity — free time. You can do whatever you want to do in that free time — even if it means doing nothing. Or, you can invest it to create more passive income streams. 

4. Unlimited

Unlike linear income which comes with a build in ceiling, there is no limit to passive income. As long as there are buyers, there is income coming in. And as passive income is not constrained by time, you would have also multiplied your time and effort because you now have more than 24 hours a day. Forget the sky, we are shooting for the stars!

5. Can be Pass On To Beneficiaries

Unlike linear income, passive income can be passed on to beneficiaries. One example is royalty. The estate of many singers, to name just three, Elvis Presley, Jimi Hendrix, and Jim Morrison of The Doors — are still reaping in royalties today, long after they sang their swan song. So are the estates of long-departed writers.

Even if you are happy in your current job or your traditional business, even if you’re making good money and have some control in your life, it’s worth pursuing much bigger and better things. It’s worth having the goal of being your own boss, having a ton of free time to do what you want, and having no limits on the amount of money you can make every day. True passive income will give you these luxuries. In short, it will give you the option to live a much better life than you are currently living. That’s why you should strive for it.

Passive income is an attainable goal. It is one worth aiming for. And because of the Internet, it’s now more possible than ever before for the average person to achieve financial independence through a residual income online. Don’t waste any more time living a life you’re not completely satisfied with. Get started on your dream today!

That’s all for now, my friends. See you all in my next article.

Get in here for the most powerful and effective form of online marketing. 

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