How nice would it be to sunbathe on a beach somewhere? To live the dream? To work as little as possible but still earn money? Passive residual income allows money without the tedious routine of a nine to five. There are two aspects to it. The first part is putting little to no effort and the other is having a lot left over after expenses and financial obligations. It could be anything from stocks to real estate. The model one chooses must provide the maximum amount of benefits with the least amount of work.
The best thing about such financial models is that they allow for freedom. They allow flexibility to do whatever. To spend above the pay grade. Whatever one desires, they can afford. One gains freedom from financial stress. Freedom to take career risks. Just freedom.
In some cases, just sitting around might get old quickly. In this case, they will have the time and finances to spread their wings. They choose to take risky steps towards expanding their current money streams. They can also choose to venture into new waters. The worst thing is that they lose the money, the best is they make more. Whatever happens, one will be as happy after as they were before.
Jobs are stressful. Bosses are stressful. Waking up at the crack of dawn to sit in traffic while driving to a job that barely covers the rent or mortgage is stressful. Stress will cause weight gain and an ulcer. With a constant stream of funds like this, one can quit that annoying job. They can enjoy the peace of mind. They can attend pilates and yoga. They have time to experiment with smoothies. Basically, one can afford to spend time maintaining their health and wellbeing.
A good percentage of the adults in the world dream of pretty basic things. A private school for their children. A house that has separate bedrooms for each child so they will stop sharing a mattress on the floor. Better medical cover for the family. New clothes and shoes. Others dream of helping the beggar around the corner or feeding a hungry homeless child. These can turn to realities with a little imagination and research.
Some models will yield a certain amount this time, a lower amount next time and a slightly higher one next time. If the model is meant to replace a salary, it is best to choose one that provides a consistent stream. One that only ever moves up the curve but never down, if it ever moves.
Some models will yield returns for some years then reach a cap. If not careful, one can easily find themselves in a situation where their model does not bring in money anymore. The amount should also not dwindle as time goes by. In this case, one should think about their reason for looking at this model. Would they like to quit their day job at some point? Or is this just supplementary?
While choosing a model, one should do as much research as possible. Taking the wrong step could be detrimental. One must find out all the ways in which a model can earn money. They need to ensure all these ways are actionable. They need to make a plan for activating these ways. Only after having enough information will one take the plunge.
The best thing about such financial models is that they allow for freedom. They allow flexibility to do whatever. To spend above the pay grade. Whatever one desires, they can afford. One gains freedom from financial stress. Freedom to take career risks. Just freedom.
In some cases, just sitting around might get old quickly. In this case, they will have the time and finances to spread their wings. They choose to take risky steps towards expanding their current money streams. They can also choose to venture into new waters. The worst thing is that they lose the money, the best is they make more. Whatever happens, one will be as happy after as they were before.
Jobs are stressful. Bosses are stressful. Waking up at the crack of dawn to sit in traffic while driving to a job that barely covers the rent or mortgage is stressful. Stress will cause weight gain and an ulcer. With a constant stream of funds like this, one can quit that annoying job. They can enjoy the peace of mind. They can attend pilates and yoga. They have time to experiment with smoothies. Basically, one can afford to spend time maintaining their health and wellbeing.
A good percentage of the adults in the world dream of pretty basic things. A private school for their children. A house that has separate bedrooms for each child so they will stop sharing a mattress on the floor. Better medical cover for the family. New clothes and shoes. Others dream of helping the beggar around the corner or feeding a hungry homeless child. These can turn to realities with a little imagination and research.
Some models will yield a certain amount this time, a lower amount next time and a slightly higher one next time. If the model is meant to replace a salary, it is best to choose one that provides a consistent stream. One that only ever moves up the curve but never down, if it ever moves.
Some models will yield returns for some years then reach a cap. If not careful, one can easily find themselves in a situation where their model does not bring in money anymore. The amount should also not dwindle as time goes by. In this case, one should think about their reason for looking at this model. Would they like to quit their day job at some point? Or is this just supplementary?
While choosing a model, one should do as much research as possible. Taking the wrong step could be detrimental. One must find out all the ways in which a model can earn money. They need to ensure all these ways are actionable. They need to make a plan for activating these ways. Only after having enough information will one take the plunge.
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