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Passive Income
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Why You Need It? What is it?
What Is It?
- Passive Income means different things depending on who you ask.
- The dictionary defines passive income as income that requires little to no effort to earn and maintain.
Why do you Need It?
- Have you ever lost a job?
- Have you ever wanted to save extra money?
- Have you ever thought of retiring early in life?
- Have you thought about what that extra money could do for your life?
These are just some of the questions that can be considered when thinking about passive income and the realm of possibilities. Once you define your WHY, you can see what possibilities await with passive income.
Passive vs. Active: What is the Difference?
- Active Income is the income where you trade time for money.
- Passive Income requires some work to start up but becomes hands-off/minimal work needed to maintain it.
- Your income potential with passive is limitless.
- You can scale and grow from multiple streams instead of relying on one income such as a job or a business.
Passive Income allows you to remove the time in the equation of the argument of time = money. It gives you the opportunity to embrace financial freedom, live your dreams, and give back to the world. It enables you to use money as a tool to give you bigger visions and dreams beyond what society taught you as the norm that you had to work a 9-5 job and then retire after 40 years to enjoy life. Wouldn’t you like to make that happen sooner? How would it feel to have more time with your significant other? Family? Community? Your passions and dreams? Spend some time thinking about this and the endless possibilities.
Passive Income Opportunities
- LendingClub – Peer-to-Peer Lending Notes – This is a way to be the bank and help loan money to people building a business, home refinancing, pay off debt such as a credit card from refinancing or lowering the interest rate. You get paid by investing in the form of notes at a minimum of $25 per note. You get paid on the principal and interest of the loans. Referral Link: http://lclub.co/f82dca1a
- Prosper – Peer-to-Peer Lending Notes – This is another company that does what Lending Club provides. It is a way to be the bank and help loan money to people building a business, home refinancing, pay off debt such as a credit card from refinancing, or lowering the interest rate. You get paid by investing in the form of notes at a minimum of $25 per note. You get paid on the principal and interest of the loans. https://www.prosper.com/invest
- Worthy Bonds – This is a great way to earn a great interest rate at 5%. You buy bonds to support small and local businesses to grow and build. Referral Link: https://worthybonds.com/?r=lYvqK
- Acorns – Great place to start savings for retirement or any long-term financial goal with simple investing with rounds-up and loose change. This is great for new investors or just getting started. Referral Link: https://www.acorns.com/invite/82GBCZ
- Stash – Another passive income stream that is similar to Acorns. Although Stash is interesting and unique in how they detail and describe their stocks and recommendations. They make it easy for anyone who has never invested or doesn’t understand stock terms and jargon. You can search by your own personal beliefs and interests such as clean energy or real estate and from that point you can invest in different stocks and funds such as ETFs in one transaction. Simple and Easy! 🙂 Referral Link: https://get.stashinvest.com/zacharyklqjx
Disclosure: Some of the links below are affiliate links, meaning, at no additional cost to you, I will earn a commission if you click through and make a purchase.
If you would like to learn more about passive income and my strategies please take a look at my ebook where I share these tips, tricks, and strategies. Enter your email address below. My goal is to serve and help you reach financial freedom and teach you how to grow your money, mindset, and knowledge. Let’s chase your dreams together!
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