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.
One may choose to find other ways to earn money. This allows one the time and resources to find more avenues for making money. It also allows one to expand on current streams. Either way, one can work to get richer. They can take financial risks if they want because really, they can afford it.
Stress leads to many inconvenient and fatal situations like sickness and road accidents. Most of the stress that leads to these things is caused by work. One worries himself or herself sick that their salary will not cover their obligations this month or that they will be unable to meet their car payments. If that job is not the ultimate life mission then forget it. Skip out and start that barbershop or fruit stand. The key is keeping oneself happy. Having the time to care for the health and well being of the family.
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?
The best models are those that allow different ways to earn. Take a book, for example. Once one writes a book, they will earn royalties for a long time. They can still earn from making appearances. They can make money if their book is turned into a movie or play.
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.
One may choose to find other ways to earn money. This allows one the time and resources to find more avenues for making money. It also allows one to expand on current streams. Either way, one can work to get richer. They can take financial risks if they want because really, they can afford it.
Stress leads to many inconvenient and fatal situations like sickness and road accidents. Most of the stress that leads to these things is caused by work. One worries himself or herself sick that their salary will not cover their obligations this month or that they will be unable to meet their car payments. If that job is not the ultimate life mission then forget it. Skip out and start that barbershop or fruit stand. The key is keeping oneself happy. Having the time to care for the health and well being of the family.
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?
The best models are those that allow different ways to earn. Take a book, for example. Once one writes a book, they will earn royalties for a long time. They can still earn from making appearances. They can make money if their book is turned into a movie or play.
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