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 is one of the six leading cause of death in the world. It causes disease and even road accidents. Most of that stress is caused by a work-related issue. Be it workload, lack of job security and in some cases stress from having to juggle too many work responsibilities. No need to die for something on is not passionate about. Once one has identified a model that will work for them and the model has begun bringing in the cash, they can relax and find something worth doing. The model will leave some time to go to the gym and just take care of their health and family.
As one goes down to sleep at night, there is that one thing they wish they could wake up the next day and do. It could be traveling or starting their own business. The reason they never follow their dream is the financial uncertainty. What if they leave their volatile workplace to start a little cake shop that never really works out? What then? The job market is cutthroat, they probably would never find another job. Having a stream of money coming in that one does not have to work for would be useful. It would allow for the luxury of dreams.
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.
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 is one of the six leading cause of death in the world. It causes disease and even road accidents. Most of that stress is caused by a work-related issue. Be it workload, lack of job security and in some cases stress from having to juggle too many work responsibilities. No need to die for something on is not passionate about. Once one has identified a model that will work for them and the model has begun bringing in the cash, they can relax and find something worth doing. The model will leave some time to go to the gym and just take care of their health and family.
As one goes down to sleep at night, there is that one thing they wish they could wake up the next day and do. It could be traveling or starting their own business. The reason they never follow their dream is the financial uncertainty. What if they leave their volatile workplace to start a little cake shop that never really works out? What then? The job market is cutthroat, they probably would never find another job. Having a stream of money coming in that one does not have to work for would be useful. It would allow for the luxury of dreams.
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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