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The Power of Passive Income

Undoubtedly, financial education is something that interests us all regardless of our age, sex, nationality, race or religion. Regardless of our current economic situation, we all want to improve our living conditions, though in many cases, we don’t know how to achieve it. Therefore, you will love the subject of this article and it will help you with your financial education because you will know one of the secrets of those who have already found financial freedom or are on track to getting it: passive income.

Content / Showcase - Grace Kennedy / La Fe

This type of income is a real obsession for people with wealth because it has immense benefits, which we will explain below.

Let’s first see what an active income is. It can be defined as the money that is obtained in exchange for providing a service. The most common example of an active income is employment, where monthly or biweekly you earn money in exchange for a specific job or activity that you have done during that time.

A passive income is the money that we get without our physical presence being needed. It is the fruit of an effort made over a period of time, which subsequently allows us to receive monetary compensation without it being necessary to use our time or our effort.

Some examples of passive income are the lease of a property, the dividends of shares, the royalties of a book or a song, among others. In order to have a passive income, an asset is required. In the examples presented above, the assets are the property, the stock, the book and the song.

You are probably thinking that you need a lot of money to build an asset that generates passive income, but this is not entirely true because with current technological advances (Internet), this work is much easier.

Let’s see some examples of how we can rely on the web to have passive income.

For example, in the case of a chef. He or she can make several videos to create cooking classes, explaining in a clear, detailed and pedagogical way how to prepare exclusive dishes. Then you can upload it to the internet, promote it online and charge a fee so that people who are interested in learning to cook can use this training.

In this way, it will not matter where the chef is because he or she can receive income without the need to be present.

Another case of passive income can be seen in a multi-level business, in which each person can rely on their marketing network to obtain income from sales and affiliations made by each member of their team.

It is important that you consider the possibility of obtaining passive income because if your income depends exclusively on a job, you can be at a serious risk. While you depend on a boss or a company, anything could happen at any moment.

Manage your time for success in your life and in business

Keep in mind that on many occasions, maintaining a job in a company does not depend on knowledge, experience, or job performance. The employee can have an excellent curriculum, but at any moment, situations could rise out of their control, such as a merger with another company, economic crises or even climatic events that affect the welfare of the company.

It is not our intention to scare you, nor do we want to say that it is negative to have a regular job, but we want to show you the possibility of new opportunities to obtain additional income that’s different from traditional methods. In these dynamic and accelerated times, what has been considered secure for generations is not so secure anymore.

For this reason, we suggest you discover and investigate a broader picture so that you can prepare yourself for any unforeseen event that will allow you to have a financial cushion if necessary.

Remember to inform yourself well before starting any venture. We consider that multilevel marketing networks are a great alternative (in another article we will expand this topic) given their advantages, the possibilities of expansion and financial and personal growth.

 

About Norma y Jerson

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Norma Moscoso and Jerson Blanco are creators of motivational content for innovative entrepreneurs, focused on the formation and strengthening of a successful mindset to achieve clear and challenging goals and objectives and on the use of the internet as the best platform to build new and effective opportunities of business.

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