Etini
Valued Contributor
Passive income is an income stream that doesn't require your active involvement for it to yield and pay you. Most popular passive income streams are real estate, stocks etc. The big question though is if passive income is really important to achieve financial comfortability and stability? Let's examine closely:
1) Passive income provides a buffer for a person to survive through difficult times like sudden job losses and business downtimes. It gives you something to fall back on while you try to get back on your feet again.
2) The income generated from passive income streams add up to your total income and makes it bigger thereby giving you more disposable income.
3) Passive Income streams can give you the flexibility to explore other income streams and makes you less dependent on a 9 to 5 job. It can allow you that freedom to take part time jobs rather than full-time underpaid jobs.
1) Passive income provides a buffer for a person to survive through difficult times like sudden job losses and business downtimes. It gives you something to fall back on while you try to get back on your feet again.
2) The income generated from passive income streams add up to your total income and makes it bigger thereby giving you more disposable income.
3) Passive Income streams can give you the flexibility to explore other income streams and makes you less dependent on a 9 to 5 job. It can allow you that freedom to take part time jobs rather than full-time underpaid jobs.