Passive and Non Passive Income
Many people earn their income through non-passive ways such as the typical 9-5 job. These are called by entrepreneurs as wage slaves. Entrepreneurs and many wealthy individuals earn money through passive ways such as rent, stocks, or online courses. This article will explain to you the difference between the two income models and why those who are striving for financial independence should start earning passive income.
Passive income is income that is obtained in which the investor does not take in active participation. Examples of passive income are; interest from deposit/pension, dividends and capital gains, rent, and royalties. Non-passive income means any income that consists of any type of active income such as wages, investment income or business income. Non-passive income is also classified as any income that is not passive income.
Many wealthy individuals earn income through multiple sources. For example, many millionaires own stock or property in which they receive rent. The benefit of having more than one income stream is that if one income stream fails, then there is another to fall back on. Also, many wealthy individuals earn money through passive income. This means they constantly earn money, even whilst they sleep. This gives them time to do more things and earn more money. It gives them more freedom.
If an individual relies on solely their salary for income, then they are extremely limited and constrained. They have to survive on just that income and are a slave to their boss. If they lose their job, then they have to look for another job and during that period are under a great deal of stress and have lost income. Some might not even be able to pay their rent or mortgage. Also, earning a high salary takes time and takes a lot of effort.
In the internet age, it is now even easier than ever to earn a passive income. Due to the internet, there are endless possibilities of making money. Many people have made money from selling products on eBay and Amazon. Also, YouTube has made many ordinary individuals into stars and made them lots of money. For example, someone that works in a clothing store can set up an eBay account and start selling clothes. They have access to the clothes and know what to price the products. If someone is artistic or creative they can start their own YouTube channel and vlog about their life. There are many successful YouTubers. Many successful YouTubers earn money through ads and affiliate marketing. This means they can earn money on videos that are over a year old or even longer.
Passive income is a great way for someone to achieve financial independence. It helps a person sleep at night, especially since they can be earning money whilst they sleep. Due to the internet, people should take advantage of the opportunity to earn money continuously.
4 Life Tips that Will Bring Success to You
If you want to succeed, you have to ensure that you live a well
balanced life. Living a well balanced life makes you have peace of mind, be efficient
and live well. However, most people find it challenging to live a good life because
of lack of enough life skills. To assist you succeed, here are life tips you
need to follow.
Take care of yourself
It is hard for you to attain anything in life if you live
unhealthy and careless life. You need to take care of yourself by exercising,
eating well and having enough time to rest. Most people make the mistake of thinking
that attaining the right success involves working so hard to the extent that
you deny yourself rest time, but this is not the case. If you live such kind of
a lifestyle, your will get burnout and your body becomes vulnerable to
infections. You need to spare time daily to do what you enjoy most. Give yourself
time to unwind after work to play, read, meditate and do other fun things.
Set your priorities
In your life, you need to have priorities because you cannot
accomplish everything that you want. It is good to examine the values you have
and decide what is more important for you. After doing this, you should then come
up with boundaries. It is by accomplishing what you want at the moment that you
will be able to accomplish many other things you want in the future. Note that depending
on your life stage, your energies and focus will be different. Therefore, only focus
on what is necessary at any one given time instead of overwhelming yourself
with a lot of things at once.
Have a positive
You need to start each day with the mindset of getting the
best from it. You have to put in mind that things might not go as you expect,
but this should not dampen your spirit. A well balanced life requires that you understand
how to handle uncertainty, adversity and unforeseen events. The secret here is
to be ready for the future, but never allow yourself to worry a lot about it.
Develop an efficient
Success in life will only come if you are able to organize yourself
and plan ahead. You need to take your time before the start of the day or week
to assess what needs to be accomplished. Create a planner to guide you do
things according to their priorities. As
you plan your activities never forget to create quality time for yourself and
Live a good life.
Living a healthy life is a dream of everyone. As in today’s world due to our tight working schedules, busy routines, less activity and junk food we are facing multiple health issues. Diseases such as blood pressure, diabetes, heart attack etc. have become common in our life. We also lack socializing due to which we are just restricted to our working activities. We have started given more importance to money than our health, forgetting that later on this money would be spent on resolving our health issues.
How to live a good life?
In order to live a great life one always should focus on the following points:
• Eat Healthy
Healthy eating is the first step towards your good life. As one should be free from all diseases in order to excel in life. Healthy eating starts from saying good bye to all junky food and adding proper organic food item in your eating menu. You can also add some supplements in your menu which will definitely enable you to achieve higher level health.
• Daily Exercise
After healthy food the next step towards your good life would be the daily activity. By just sitting and sticking to your work you actually become lazy. So just leave laziness behind and start doing some exercise. Join a gym or do it by yourself. Start with taking a little walk than add something new to it on daily basis. Doing stuff like that will make you active and more productive.
• Proper Meditation
Different doctors and psychologists argue that mediation should be made a regular part of one’s daily routine. As meditation will relax your mind and will bring calmness in your behaviors. With doing mediation you will be able to do out of the box thinking. Meditation practices such as yoga etc. created very much positive impacts on doer’s life.
• Start Socializing
In order to live a well-balanced and healthier life socializing is very much important. As this activity will enable you to interact with different people. Being social make you self-confident hence removes all the aspects of hesitation. A research showed that people with a bigger friends circle are usually living a happier life then people with comparatively shorter friends circle. So start socializing.
• Economic Freedom
The last step towards a good and well balanced life is that you should give importance to your economical freedom. This is your life and you have every right and liberty to live it the way you like. So stop worrying about the fact that what people will think about your actions. Just do what makes you happy and that’s it. Economical freedom plays a vital role in living a happier life so keep that thing in your mind.