When Passive Income Replace Active Income?

[moonchild]

Passive income can replace your active income if you can make the same amount of money from your passive streams, many people dream of quitting their jobs without having a solid plan on how to build their income, and they think passive income can be built overnight, the answer is totally opposite.

Before quitting your job or your active income stream make sure your passive income is at par, else you'll be taking out investment and end up at square one, building a passive income generally takes time and it's not a plug and play thing.

Give enough time for example 5 years to build a sustainable passive income that you can live on and can replace your active income, this can be possible with discipline and dedication, many people have done it, it can even be faster depending on the channel you're using to get their, online business seems faster than traditional means.

 

[Ganibade]

It's crucial to create a sound plan and allow it time to replace your active income with a sustainable passive stream. A strong passive income that can support your lifestyle usually takes five years to establish.
Earning passive income takes commitment and discipline; it's not a magic bullet.
Here are some important things to think about:
Patience and Consistency: Building passive income takes time and effort; it does not happen quickly.
Diversification: To reduce risk and increase profits, distribute your investments throughout a number of channels.
Investment and Time: In order to create passive income, both time and money investments are needed.
Channel Selection: Based on your abilities, passions, and financial objectives, select the best passive income streams.