Can passive income insure your security?

[Bisolami]

Well, passive income could make you a lot more secure in the sense that it will help you secure your financial position. The fact of the matter remains that in order to become financially stable, you may need to invest a lot and invest wisely as well.

You are right but someone like me does not have the money to invest a lot and if you ask a lot if people, that will be their reasons for not having a passive income

 

[Passiveearner]

Passive income could make a person secure in the long-term. However, I think that it depends a lot on how well they manage things and how well they save money.

 

[eldavis]

In my country you can buy a piece of land at $5k. You can then use let's say $20k building a house for renting out of rooms which can be a great source of passive income.

If you convert that to our local currency, that's a whole lot. Not everyone have the capital to invest that kind of amount. Which is while only does who have enough money tend to invest in real estate these days.

 

[Stardom22]

If you convert that to our local currency, that's a whole lot. Not everyone have the capital to invest that kind of amount. Which is while only does who have enough money tend to invest in real estate these days.

Unfortunately that is the only way that most people can invest in and have their money back almost guaranteed. Other than that the other investments just gambling according to me

 

[Springtime]

Indeed, passive income can provide additional financial security. If you have several apartments and rent them out, the passive income you get may replace your full time job. But investment in real estates require a lot of money. My passive income is mainly from dividends of stocks I purchased.

 

[Stardom22]

You are right but someone like me does not have the money to invest a lot and if you ask a lot if people, that will be their reasons for not having a passive income

That's the main reason for me that causes me not investing. The lack of the financial resources among the most people is the major reason for people not able to invest for sure.

 

[Bisolami]

There are even times when it is better for us to trade than to invest or even keep our money. Imagine someone investing $10 and getting $2 in a month. You can see that the money is very small

That's the main reason for me that causes me not investing. The lack of the financial resources among the most people is the major reason for people not able to invest for sure.

 

[olaniyi]

As at now the amount am getting passively was to small to secure security but I hope it can later improve when I get much more source of passive income

 

[Bisolami]

As at now the amount am getting passively was to small to secure security but I hope it can later improve when I get much more source of passive income

It can do well for it as long as you're making a lot of money as your passive income and if the money is enough for you because that is the main thing.

 

[Authenticity101]

Passive income does provide so much financial security. We live in tough economic times where one source of income may not cover all expenses. You have to invest to get enough money for everything you want or need.

 

[Bisolami]

Passive income does provide so much financial security. We live in tough economic times where one source of income may not cover all expenses. You have to invest to get enough money for everything you want or need.

I am even trying to have a passive income before the end of the year. I actually don't want to start struggling to make money next year. I just want to make things look very easy for me

 

[Suba]

Passive income not only guarantees your future but also passive income can be used as an emergency reserve fund, or at least the passive income you earn can be reinvested so that you will get bigger returns.

 

[Rubz]

I believe passive income can insure one's security if one also has another means of earning. It is not good to only depend on one means of earning. One should also have a back up plan.