Does Passive Income Guarantee Financial Freedom?
- Thread starter Golden9
- Start date
Yes, UpTo some extent it gives guaranty that you get the financial freedom, but it also depends that how much you are earning through it. If you are using different sources to get passive income then you may get big amount.
It can be a tool for financial independence, but it does not ensure it. Financial independence implies being able to survive day-to-day living while also meeting financial goals. That is why it is critical to diversify. Also, keep an eye out for overspending.
It depends on the passive income you have. If it's the source of daily needs it's a no guarantee to live in financial freedom. But if there are many sources of passive income they could guarantee for financial freedom.
That's right, i know of someone back then who is into real estate as a from of passive income. But it was still not enough, most times he would still be begging others and so on. Most times it is how we manage it as well would determine.
In some countries there are a large number of high status well connected cheaters trying to rob the identity and savings of professionals who have some passive income, so ending or avoiding the frauds becomes a major problem.