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This Is Why You need Passive Income

by deezine
7 replies
Here is a little story as to why generating as many passive income streams as possible is necessary.

I currently live in Georgia, snow storm hit last weekend as of today city is still basically shut down for those on the city transportation system (MARTA).

I have been unable to get to a pt retail job due to the city not running the buses and their lousy job of addressing the snow issue. This has been going on since Monday.

Now because of all of this I have lost one week of pay. So needless to say that my next check will look like chump change because I have no vacation or personal time to use because I am a pt employee.

So why is passive income necessary? Because when situations like these arise you can say I'm covered, I have money coming from here and there no need for me to worry.

People please take action and get something going on the side, even if brings in a little something each day, week, or month. Just get out there and start working on those additional streams of income.
#income #passive
  • Profile picture of the author Chris The Traffic Blogger
    So true, well said.

    It's important to note that you can do this sort of thing without spending any money in the first place. Then once you have money and are comfortable you can reinvest to make more.
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  • Profile picture of the author Apolo
    As obvious as that is...most people cant' comprehend it. They say "that make sense, I should have one too", but that about it. If they knew "really" they would only look for that type of INCOME...

    they only one type.."JOB" income.. work your tail off, type of income. they can't even fathom that income can come, with out them involve..
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  • Profile picture of the author E. Brian Rose
    I agree 100%. I fell ill last month and was away from my computer for the longest period ever. I was just unable to work. Thankfully, I had all of my ducks in a row and business continued without me. I have always preached about this, but it was nice to see it work like it was supposed to when I actually needed it to.
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  • Profile picture of the author whiteshadow1890
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    That's true you just need to have lots of sources of income, and everything will be ok, even if the nature falls one you.
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    • Profile picture of the author DivaOnline
      I am in NC and also missed 4 days, so I feel your pain. I did however, spend those days working full-time on my biz so I take it as a blessing in the long run.

      I read a book awhile back about the importance of multiple streams of income... "Multiple Streams of Income" by Robert Allen

      A quick summary : Since we have multiple ways that money goes out (rent, car payment, utilities, groceries, daycare, etc.), then does it make sense to have only one way for the money to come in?? You should try and aim for just as many ways for the money to come in as it goes out.
      That way if 1 income stream dries up, you have others to borrow from.

      It also talks about the fact you should find ways to make that extra money without giving up extra time....residual, passive income.

      It is a really good read for people to become more conscious of how vulnerable we make ourselves with just having 1 income source.

      Rich Dad, Poor Dad by Robert Kiyosaki is also a must read!
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  • Profile picture of the author NikkiDelgado
    Passive income is AMAZING! I have recently discovered the wonders of passive income and I am now addicted to building it up and up.

    I am getting a steady stream of passive income sales that continue to trickle through. I do a couple of hours of work every day and I know the more I put in the more I get out of it.

    Its great!!! Can't say enough good things about passive income
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    • Profile picture of the author Devid Farah
      I understand why people call it passive income: once you set it up, it can pretty much make you money for years requiring very little attention.

      However, I feel that the word “passive” just does not give it justice.

      For new marketers, they might get the impression that hard work is not required.

      The truth is although the income is passive; it can take a lot of time and effort before you can even claim that status.

      That being said, I do believe that just like people invest in stocks to diversify their income, people should invest in some internet marketing strategy to compliment their other sources of income.
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