There are many people who usually stick to a particular way of making money and making passive income. The fact of the matter remains that if a person discovers a way to make passive income, then the chances are that they will most likely stick to it. However, it might be possible that you may explore many other ways to make passive income, so do you change the way you make passive income?
Do You Change The Way You Make Passive Income?
- Thread starter Passiveearner
- Start date
The is a particular saying i came across some years back
" If it ain't broken, don't fix it." So most of these persons who do not change their ways of getting passive income is simply because they are still benefitting from it.
" If it ain't broken, don't fix it." So most of these persons who do not change their ways of getting passive income is simply because they are still benefitting from it.
That is true. There are even times when we see some businesses and we will think that is is not lucrative or they are not making money from that passive income just because we are not into it whereas we are wrong
If I had the ability, I would alter my current strategies for earning passive income as often as possible. The fact of the matter is however that this is not always possible because of resource limitations. I am however ever on the lookout for income generating schemes that do not involve spending a lot at the outset.
- Thread starter
- #6
Well, if I am generating passive income and if I think that I am doing a great job, then I would not change the way I make money until or unless I find a much better way of making money.
Some people's passive income are just enough for them and that makes them limited to than and not thinking of other ways to earn passively. But then, we should try saving for raining days because some factors might affect the passive income source someday .
Well said, you wont know untill you ask them or even go into it yourself. There are so many persons making lots of money, they are just in a particular business, to you on the outside it seems like they are not making any profit but they are actually hitting it big.
While I have not abandoned the proven and tested avenues to earning passible income that I am currently using, I am always on the alert so as to identify and try out other viable opportunities.
That is, I am consistently open to the possibility that I may come across a new viable passive income generating project or program.
That is, I am consistently open to the possibility that I may come across a new viable passive income generating project or program.
My passive income is the rent of my 1-hectare land property, and I am still looking into another passive income though I have a good job and good milk tea-selling business in the mall. It is good to have multiple sources of passive income.
- Thread starter
- #13
Do you mean that you have an offline job as well? I think that there are many people who have offline jobs. Regardless of that, having a high-paying job should not be a sufficient way of making money as we need to make sure we have many sources of income.
Yes, I'm teaching Physics at a university in our city owned by the national government with 34,345 students population. That's why I'm mostly available here every evening for 2 hours. I also have an offline business the milk tea selling business in the mall.
- Thread starter
- #16
I think that in many cases, you may need to make certain kinds of changes in order to expand the way you generate passive income. this may also involve planning things and making changes that might matter when it comes to passive income generation strategy.
True, if its working for you there is no need changing, cause there is every possiblity that even after changing the new one might not even generate income for you. It would be best you look for way to expand the earnings.
Expanding the means of passive income is what we all to do but changing the means of passive income is one of the most unreasonable ways one would do but some people still do such.
If I realize that the first way is not profitable or appealing to the market, there is a need for me to change my way of dealing with my passive income. For example, if the rent of the building is stagnant for years, I need to change the pricing.
