Where are we financially? Where do we want to be? How do we get from where we are to where we want to be? These are all questions that only you can answer. What I do know is that we all need to at least investigate ways of creating passive income. Passive or residual income is that money that some call pajama money. Whether you get up and go to work somewhere, or you just stay in the bed wearing your pajamas, this money will come in.
This can be very important. I learned the hard way when i lost my decent paying job. Even though I was not making six-figures at this job, it was paying the bills. When i lost that job, i saw just how much i needed it, or in reality how much I chose to depend on it. I could have been using some of that income to begin building me a business or alternate source of income. Even after that, I realized again the importance of creating passive income when I had a very serious accident. I could not work for a while, but that did not stop the bills from rolling in. As a matter of fact, that added on to the ever growing pile of bills.
That was my “ah ha” moment! Maybe it took that blow to the head to get my attention. I saw just how vulnerable I really am, and how quickly financial situations can change. This when I made a decision to take control. I realized that some people have talents that create residual income, or what they call royalties. I don’t sing or rap well enough to get contract, I can’t really pay any instruments, and I am not a good actor. So, royalties do not look like they will be a part of my future. What I could do was look for opportunities that could eventually produce passive residual. There are a number of different ways to achieve this. I am a little biased, because i like network marketing. I ran across a great one called LegalShield. That may not be for everyone, but we all should agree that we need to find something. Life ca throw any of us a curve ball at anytime. Just like in baseball, some of the time we will get a hit, and some of the time we won’t. Will you be prepared for those times that you get out? If not, you may be out of the game longer than you expect. So, don’t look at passive income passively. It may be a life changing decision! Check out this brie video that I made.
Check this out.