Why Passive Income Is Important!

Why does passive income matter?

Passive income means income that you receive regardless of whether you’re physically working at the time.

It’s the most lucrative form of income, and it can set you free and give you more time to focus on what you want to do in life, what you really want to be doing with your time.

Think about it, it seems silly to only get paid when you’re working, doesn’t it? To only get paid when you’re physically at your desk?

What happens if you become sick, or want to take a holiday longer than the 30 days most companies allow you per year. You can’t, or at least you can but you stop earning money.

 

Passive income can set you free

It means you could be earning income while you sleep, or while you are on a beach, the point is it comes to you even after you’ve finished setting it up. It’s like a tap that you can turn on, and just leave running. This reoccurring income is the most sought after thing in the moderns world.

Everyone wants to achieve Passive Income.. Who really prefers sitting behind a desk ding paperwork than being on holiday with their family in the maldives.. Exactly. But lots of people end up wasting time at a desk because they don’t know how to set up this reoccurring income.

The hard part is turning the tap on in the first place, and getting the money flowing. When you’ve done that however, you can just leave it to generate passive income for you, and walk away, or even add another passive income stream.

Sound interesting? Let’s explain what is meant by this and how you can actually start earning passive income yourself. I can’t explain everything here, but I can point you in the right direction.

 

Why I’m talking about passive income

This blog is a Personal Development blog, you know this, but I feel that finance and income are a big part of that, because after all if you can’t pay the bills, you will be in trouble sooner or later, no matter how much you want to improve yourself.

Not having enough money or being trapped by a job is going to kill your motivation and make you feel like you can’t get to where you want to get to.┬áThat’s not what we want for you at Transcend Your Limits, we want to help you set yourself free, and do what you want to do.

So this is a post introducing the idea of Passive Income, and how to slowly start working your way out of your job. I’ll show you how to get started with it, and it’s then up to you how much effort you put into it, and whether you decide to level it up or not.

 

Passive income gives you more time

As stated before, Passive Income gives you more time to work on yourself, yo are able to spend more time with your loved ones, and you are free to go on holiday as you wish. You can travel the world, and do whatever you want.

Of course, you can also choose to continue working, and combine Passive Income with Active Income, (money that comes to you only when you’re working) to really get the most benefit, but the choice is yours.

The hospitality industry is not passive income

Being a waiter involves many things

The point is, life’s short, and too many people spend their time working jobs they hate, in order to go on living and go on working jobs they hate. Vicious little circle, huh?

Passive income can set you free from that trap. It allows you to work hard for a period of time, and then once you’ve put your system into action, the momentum will keep earning you money from that point onwards.. It’s all about working hard now, so you can reap the benefits later.

 

It’s more stable and secure than just one job

Passive income is so much more stable than a normal job, because you can have complete control over it.

You decide how many hours to work on it, how much effort to put in, you can add multiple streams of passive income from various sources, and if one stops working you can just move onto another one. You can adapt and evolve your income streams depending on what works.

There are always new things and new opportunities to make income, and you don’t need to be physically working to enjoy an income. Think about this, today we have millions upon millions of people using the internet every single day. That’s a lot of money floating around. You could be cashing in on this flow of people and money.

 

It’s easy to start, but hard to get

To start earning passive income, you only need a few things..

  1. A Computer with internet
  2. A passion of some sort (in fact you don’t even need that)
  3. Time and Motivation
  4. Patience; you won’t see results right away

It’s actually fairly easy when you know where you’re going, and like most things in life, you’ll succeed if you have goals, and know how to get to them. It’s as simple as that.

I run another website called MoneySpyke which is all about making money and investing etc, it’s written and presented in much the same way that this blog is, because it’s how I like to present my content. If you want to get started with Passive Income, have a look at my page:

Getting Started With Passive Income.