Imagine waking up every day to a steady stream of passive income flowing into your bank account, even if you’re not working. Or if you are…
Actively working at some other 9-to-5 soul-draining job…
On vacation, completely ‘turned off’ from the day-to-day nonsense.
Up all night taking care of a sick child and just beyond exhausted…
That is the power of passive income.
But first, let’s level-set.
What is passive income?
Passive income is money that you earn without having to actively work for it. It’s the opposite of active income, which is money that you earn by trading your time for money.
This is a game-changer for your finances. However, more than that, it is a game-changer for your LIFE. It can…
- Help you achieve your financial goals faster…
- Give you more freedom and flexibility in your life…
- Establish your financial security so you can ditch the 9-to-5 and spend time doing things that matter to YOU!
In this blog post, I’ll explore what passive income is, why it’s important, and how you can start earning it. I’ll also share some specific passive income ideas that you can get started with today.
However the TLDR; is this…
Whether you’re looking to supplement your income, retire early, or start your own business, passive income is a powerful tool that can help you achieve your goal.
But, you may be asking yourself…
Why should I care about passive income?
Passive income is such an amazing boost to your life, but more than that…it’s just good cents (pun, intended). Far be it from me to tell you why you should care about anything, nonetheless passive income, so let me tell you why I care about it. Here are just a few:
- Financial freedom: Passive income gives me the financial freedom to live the life I want. I can work when I want and how I want.
- The 9-to-5 “grind” mentality and stress is gone: I no longer need to chain myself to a desk for 8+ hours a day. I can support my lifestyle and work how I want.
- Peace of mind: Knowing that I have a steady stream of income coming in gives me peace of mind. It gives me the space to worry about things that matter (which is not too much).
- More opportunities: Passive income opens up new opportunities for me. It gave me the freedom to figure my sh*t out and make sure I was doing what I wanted.
You can call it a “side hustle” if you’d like. However, what you want to call it, so many people are building solid passive income streams that the average US adult makes $810 on average through their “side hustle.” Would that make an impact in your life? What if that was JUST the tip of the ice berg? Well, read on to learn how to get started.
How to start earning passive income
If you’re interested in starting to earn passive income, and by now, how could you not be? There are a few things you can do. I’m also going to share the most common sense (pun avoided this time) next step.
- Educate yourself. There are many different ways to generate passive income, so it’s important to learn about your options and choose the ones that are right for you. There are many books, articles, and online courses available to teach you about this and how to do it. But make sure you really research things before you spend time and money. Not everything on TikTok is fact or real, do the research first.
- Start small. Don’t try to do too much too soon. Start with one stream of income and focus on building it up over time. Then seek out another option, but start small first to make yourself comfortable.
- Be patient. It takes time to build up a significant nest egg based on your efforts. Don’t get discouraged if you don’t see results immediately. Just keep working at it and you will eventually reach your goals.
One of the best ways to start earning passive income within the next 3 months is to start with yourself. Take your own unique lightning in a bottle and monetize it with a digital product of your own. Learn more here.
Final thoughts…
Passive income is a great way to improve your financial situation and achieve your financial goals faster. It can also give you more freedom and flexibility in your life. If you’re interested in starting to earn a passive revenue stream, there are many different ways to do it. Educate yourself about your options, start small, and be patient. With time and effort, you can build up a significant stream of passive income that will help you live the life you want.