1. Once you have built a residual cash flow, the money continues to come in after the initial work is done. You are making money even when you are not working. It comes in whether you are eating, sleeping, or taking a vacation. This really comes in handy if you become sick. Imagine you are stuck in the hospital for a few days or longer and your medical bills are piling up. At least you would still have cash coming in to help cover the expenses.
2. Passive income brings about personal freedom. If you build a large enough stream of residual income, you will not have to work for another employer or company. You can work when you want, take a day off when you want, spend time with your spouse and kids when you want, and take a cruise or trip when you want.
3. Residual income opens up a lot more opportunities. If you have a flow of money coming in that pays all your monthly bills you can take more chances. You might want to start your dream business. Having that passive cash flow can allow you to plunge into starting a new business without having to worry so much about failing. Many people fail in new business startups because they do not make enough early on to keep the business afloat. They cannot last long enough for the business to become established and feel pressure to make it an overnight success. Think about the times you had a great chance to buy something of value at a bargain price but didn't have the extra money for it. Someone else bought it and turned a nice profit. Or the times you could have invested in a stock before it fully took off (like Google). Having a passive income allows you to take full advantage of these opportunities.
Hopefully, this article has opened your eyes to the benefits that a passive residual income stream can bring to your life.
0 komentarze:
Post a Comment