To get rich, you have to be making money while you're asleep

[Starmix]

This statement highlights the importance of passive income and building systems that generate revenue even when you're not actively working. Tis statement emphasizes that relying solely on active income is not a sustainable path to wealth. Instead, it advocates for creating income streams that continue to generate revenue even when you're not actively working.

Active income is earned by directly trading time for money, such as a salary or hourly wage. Passive income is earned with minimal ongoing effort, such as rental income or royalties. Relying solely on active income limits your earning potential because you are restricted by the number of hours you can work. passive income, on the other hand, can generate revenue even while you're sleeping or pursuing other activities.

Further, passive income streams are often scalable, meaning they can be expanded without requiring a proportional increase in effort. For example, you can sell an e-book to thousands of people without having to write a new book for each customer. Passive income can provide financial freedom, allowing you to pursue your passions, travel the world, or retire early.

Furthermore, by generating enough passive income to cover your expenses, you can break free from the traditional 9-5 job and live life on your own terms.

 

[klassicdoll]

I agree with this a lot. Relying only on active income can feel limiting since there are only so many hours in a day. Passive income really changes the game because it keeps working for you even when you’re not. Of course, it takes effort and time to build, but once it’s there, it can give you more freedom and security in the long run.

 

[Starmix]

Passive income can provide financial freedom, allowing you to pursue your passions, travel the world, or retire early, so while you are still young, you have to make use of your youth by saving a lot of money and buying a building for rent someday after you renovate it. That is a good source of passive income.

 

[Springtime]

Yes, just relying on active income will not make you rich. You need to have passive income including investment or other passive income to grow your wealth.

 

[eLdavis]

I believe this is the goal of everyone, to be able to still make money even when they are not around or while they sleep.

 

[Suba]

To realize the dream of making money while you're asleep, of course we have to invest in things like rented properties, properties can be kiosks or residential houses, the more properties you have, the faster your dream will come true.

 

[Starmix]

Having only an active doesn't guarantee to acquire wealth or live in financial freedom. It's only through a passive income where we can breathe a financial freedom. So while there's still time or bones still strong, start building a passive income and to break free from financial struggles you may face during old age. It's crucial if there's no passive income especially this time and in the coming years when hope is vague that prices will go down. It may instead continuously go up in the coming years. Let's protect and increase our earning potential through acquiring a passive income.

 

[Min George]

That's the real definition of a true passive income. It is that kind that can make you rich quickly.

 

[Starmix]

Relying only on the primary job is not enough for the family because of the surging prices of the commodities,the bills and medicine.