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.
Is it just me or is chocolate for breakfast, as a healthy, lasting option the BEST news you’ve ever heard? Now bear with me, I know “breakfast quinoa” does not sound delicious. But let your imagination focus on the chocolate macaroon part, and I promise you will NOT...read more
That feeling of an organised pantry! When everything is organised, it makes those last minute dinner ideas flow a lot smoothly and if you’ve got your basic bulk wholefoods covered you’ve instantly got a meal to feed the family.To save on the environment and your...read more
Making healthy choices may sometimes feel overwhelming with all of the different information available. Choosing to fuel your body with nourishing food doesn’t need to be restrictive or boring. Here are some of my favourite healthy food alternatives.Tortilla wraps...read more
These delicious moist brownies are a favourite in our house! Paleo, gluten free, dairy free and sugar free. They are the only way I love my sweet potatoes after all they are meant to be sweet right?? Packed full of goodness and no nasties!! 2 medium sweet potatoes...read more
As a parent, most of us feel as though we know our children pretty well. Their likes, dislikes and their unspoken emotions that are shown on their face and in their body language. However, as our children grow more independent of us the constant change can leave them...read more
At this moment many people are struggling, feeling like their world, life, and mind are in a state of flux. During a time of chaos, you often have feelings of uncertainty, fear, insecurity, and a loss of control of the situation. But, it is crucial to keep a calm...read more
Love our vibe?
Learn about becoming a part of our tribe of Mumpreneurs…