You Can’t Afford to be ‘Active’ When it Comes to Your Money!
Ever imagined sitting on a beach, sipping a drink with an umbrella in it, and not having to stress about heading back to work? I know I have. This seems like an impossible dream, but it’s a reality for many people (and not just those born with splashy trust funds!).
And the best part is, that the secret to this kind of wealth is a simple one: residual, otherwise known as passive, income
What is Passive Income?
When my parents were young, you had one choice when it came to your wages: you were paid a set amount of money for a set amount of hours worked. That’s active income, and it’s a direct result of your efforts in your current job.
But then there’s passive income. Did you know the cast of the TV show Friends is still being paid for their work, despite shooting the last episode in 2004? That’s the power of passive income.
Luckily you don’t have to be an actor to be part of the action. Whether you are wanting to supplement, or replace your current pay, you can find a way to add passive income to your bank account.
Why add Passive income?
The job market isn’t what it used to be. Changes in the workforce mean there are more part time jobs and contract positions, and less stability, security, and pensions.
There are millions of people who are in their 60’s and even 70’s who feel they can’t retire or have to take part-time work in order to supplement their pensions. Making ends meet just isn’t as easy as it used to be. Savings, the pension, and superannuation often aren’t enough to pay for life’s necessities. No one wants to be stuck in a meaningless job until they die, or wondering if they can afford to pay for the electricity. There needs to be a better way.
So what can you do?
One way to ensure you’re setting yourself up for cruise buffet line, instead of the poverty line, is to create a second stream of income now.
But adding in a regular second job has its problems. While creating another income that relies solely on your efforts, sounds promising, it’s just like your current job: if you stop working, the income stops as well.
Creating a second position that provides a residual or passive income, that could potentially pay you for the rest of your life, now that is something to get excited about!
This type of income, rewards you for the work you have done, and will continue to reward you long into the days when you’d sooner play with your grandkids than sit behind a desk.
Network marketing is an accessible way for anyone to build a passive income. There are a multitude of options out there, you just need to find one that is right for you. Luckily we have an article that explains how to find a great second income, and avoid and potential scams out there.
And for many of us, network marketing does more than set us up for retirement. It gives us a job we can do from home, with our kids by our side. It allows us to make new friends and find a purpose outside the wonderful, but exhausting, world of motherhood. Owning your own franchise, stepping into the role of entrepreneur and creating income can be worth more than you can see on a spreadsheet. It can change the way you see yourself, and your future, for the better.
So give passive income a try, enjoy your life on the beach, and if you’d like more information on how network marketing can work for you, click the link below.
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