I agree with you. It is wise to build it when we are young and energetic since it takes time to enjoy passive earnings.
Facts to know about passive income
- Thread starter cherry123
- Start date
Yes, it really is the same way here but lately new initiatives are coming out like this crowdfunding that I mentioned, they may be good ways to enter that market little by little
It sounds very good when someone says as passive income are those in which a person get money without doing anything, he just do hard work one time. But the fact is very bitter as if a person is not know all the ways and means about it then he will remain on zero earning even after a complete year.
I wish such initiative will come up in this part of the world. Buying a property and paying little by little is a good initiative.
Thats true that passive income is not effortless to accomplish I agree with you that it needs some patience and dedication to make it work. I think we should always set realistic goals and track our progress.
Yeah, setting realistic goals is important and you should always work towards your goal. Making passive income is not something you do in a day because it takes some years.
Well it also depends on the investment in question that is giving you passive returns many of them have to be managed continuously even if they are giving you returns.
Yeah, but the building process is always very hectic. You will always dedicate a lot of time and consistent to build a passive income source.
That's a very important point because when you build passive income when you are young, it is going to be advantageous.
Probably, I've seen a lot of people who are old and they are still making money actively. That is actually not the kind of life I want to live.
Probably, I think it is very important and necessary people understand this. If you want to make passive income you must put in a lot of effort at the initial stage.
I invest in dividend paying stocks and bonds. Receiving dividends from such investments is a great source of passive income for me. I am also holding some shares in a start up which I have worked for some years ago. As a start up, they could not pay me a decent salary. Instead, they offer me some shares in the company. Over the past few years, the start up has been doing well. I receive dividends annually.
Very true, many people tend to assume passive income has nothing to do with hard work, they can easily start making money without any hard work. But the truth of the matter is that you need hard work to start earning passive income.
it is only people who do not understand passive income that will assume it does not require hard work and consistency. Creating passive income is not really easy as some people think.
Actually almost all of the passive generating incomes behave the same way. For instance they need alot of upfront time, money and effort for them to start generating some money. Therefore it's something that most people would quit.
