I think that passive income could be better. However, it largely depends on the amount of money you tend to earn through such income method in the first place. Active income requires you to work in order to make money.
Is passive income better than active income?
- Thread starter Starmix
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- #22
Passive could be better than an active income if the passive earns more than your salary is like my property that is rented yearly at $2, 500 annually. It's not a sufficient passive income if only rely on it compared to my salary.
Passive income can be much better comparatively. However, usually you have to invest a good amount of money and plan things in a much better manner if you want to make good money. Passive income involves long-term investments.
Exactly, having both is the best. I would not really advice anyone to go for just one in particular, there is notting wrong in having more than one source of income.
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- #25
A passive income is so much better if it's already established in a number of years like a mutual fun or life insurance that serves as your monthly pension during retirement, but if new, it's better to also have an active income for a backup.
Passive income is far better than active income. Passive income gives us chance to develop and manage other things. Active income need your time, energy and resources. Active income is physically demanding and exhausting. Though passive income demands huge capital before making reasonable income.
In order to make huge money through passive income, you must invest a lots of money. This could be a pretty tricky thing because investing in the wrong kind of opportunity will make you lose money. This is why you must be really careful when it comes to investing money.
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- #28
If you intend to have a passive income, you have to do it while you are still young. Your money rules and a big chance to multiply your passive income because of your accumulated savings. See to it that your passive income is a top-notch like building for rent.
To me, both are important. Having a stable source of passive income will help to grow my wealth. But if I am in good physical and mental condition, I do not mind working to earn money. The more I earn, the more I can save and invest. My passive income will also grow.
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- #33
Definitely, passive income could be better than active income if your passive income is worth enough to replace your active income with it. In my case, I cannot replace my work because my earning from the rent of my property as passive income is not enough.
For me, I prefer a passive income source to an active income source because of the high returns of passive income source and it that helps me earn a living and feel comfortable then it will be a great opportunity for me building my skills and levelling up.
I believe that passive income is more better than active income because we are not working too much in order to earn, but if we can have them both then it would be more better because we can easily make a good earnings out of it.
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- #38
It could be if your passive income is from a good origin like a building for rent, office for rent, or parking space for rent. If you have any of these, there is no need to work offline or just work part-time only.
