REASONS YOU NEED TO START EARNING A PASSIVE INCOME

BY OLUWAKEMI ADEMUYIWA

Your regular active income is just not enough to cover all of your expenses. Even if you were to take on extra jobs, it still doesn’t complement the stress undergone. Your 9 to 5 jobs will always consume time and energy so you have to think out of the box. The question is how do I make money without stress? The answer is passive income. It is the only way out of your financial distress without stress. Passive income is majorly defined as a stream of income earned with little or no ongoing effort needed from the individual receiving the passive income to grow the stream of income. Active income is derived in exchange for your time and skills. It requires little or no effort to earn or maintain.

Here are seven reasons you should consider earning a passive income;

·         Secures time: Time is a great asset that is always treasured by everyone. You can’t afford to waste time on frivolities. People have learned to value time more than any other thing in life. If time passes you by, it can’t be recovered but you can continue the spectrum. Passive income strictly obeys the adage that says time is money. It gives you the freedom of time. You need to remember that you still have certain obligations in life but you don’t have to strive to make ends meet. As long as your passive income covers all your monthly expenses, you are free to spend your time as you wish. At your leisure, you can engage in work-related activities to create additional passive income streams of revenue. With passive income, you can enjoy the liberty of time to the fullest.

·         Reduction in stress and anxiety: The pressure attached to the inability to pay bills can be devastating. The stress involved in sourcing for finance is highly rated and could leave one anxious and fearful of the future. It emotionally brings you down and shatters your hope and aspiration. The anxiety of what is to come kills faster than the present situation. If the situation gets to you, you can go into a state of depression. Passive income is the right medicine for your sickness. With the right medicine, you can impend any financial doom. You have more energy and motivation to get out there and achieve more because passive income also helps to build all-important financial momentum in life.

·         Allows you to pursue your passion: Being passionate is an important virtue in life. Get involved in your lifelong fantasies with passive income without worry on an endless payment road. You can easily follow your heart and produce an active income. You can have your debts all covered with passive income and still focus on other important activities in your life. Whatever your passion might be, earning a passive income will not prevent you. You are self-employed and not answerable to anyone.

·         Ability to live and work anywhere: As you know that earning an active income requires your presence in the working area but with passive income, you can work from anywhere. You can travel places without fear of job loss or query since you are your boss. When you earn a passive income, there is no limitation to what to do. You can do as you please since there is a financial ability to back up your exquisite desires.

·         Provides a platform for financial stability and growth: When you have an automatic income, you need not worry about your expenses at month-end. Passive income allows you to explore new ways to maintain your financial stability and growth. You can be able to research new things like taxes, stocks, and other investments. When not entirely occupied with activities, you can be able to focus on your finances. It prepares you ahead for the rainy days to come.

·         Open pathway to success: Your regular 9 to 5 job may not be able to sustain you all through a month and less a year. With a lot of responsibilities on your shoulders, you will need more than the regular income. To go the extra mile, earning a passive income is the right recipe to achieving success. Focusing on a job that takes a large volume of your time and energy and still doesn’t yield positive fruit after years. That could be saddening. With passive income, you can earn more than you expect and be able to actualize all of your dreams. A lot of dreams and fantasies can only be achieved with money. Passive income will open and show you the way to success. You can be a millionaire and more within a little space of time.

·         More profit: You would be able to make more than your imagination. Well, this is a side thing where you earn more income alongside your regular job income. You can find many ways to earn a passive income and participate in them, and in no time, you are Flying skies. Doing stock photography requires little or no effort and makes at least $2000 from its sales. This could cover some expenses and you will find yourself scaling through all your financial turbulences.

There are certain ways in which you can earn a passive income namely; affiliate marketing, stock photography, digital designs, writing an eBook, index funds, and more. Earn while sleeping without stress or pain. Build a future for yourself.