Financial Freedom Can be Attained by Anyone. The Key is Developing Multiple Passive Income Streams
- Author Ben Frank
- Published January 26, 2010
- Word count 548
Financial freedom is only a dream for most people. They want it, they desire it, they think about it, but they never quite figure out how to attain it. Many people do not even know what real financial freedom is, which is more than money alone. Having money can make you free from stresses and worries created by financial lack, but to be truly free you also need to be free from the obligation to work. When you have created a situation in which you can live your life without having to work, all while enjoying enough prosperity to pay for the lifestyle that you honestly desire to live, then you have become financial freed. Most people do not even think that this is possible. Most people have it engraved in their minds that making money has to be a hassle, that it requires a lot of time and work, and that building wealth is out of their grasp. But it does not need to be this way. But first you need to get out of your head the idea that financial freedom is unattainable.
Have you ever wondered why some individuals work hard all their lives, spending many hours each and every day at a job they hate, and never become financially free, and yet others are able to work a mere fraction of the time and still they earn substantial amounts of money? The real difference lies in the ways that these individuals earn money. Most people earn money from a single source, like a job for example. They also earn money by trading their time for it. They get paid strictly based on the number of ours they put in. But wealthy, financially free people earn money in a much more powerful and efficient manner. They do not earn money from a single source, and they do not trade their time for money.
The real key to a lifetime of unlimited financial abundance is to create passive income streams. A passive income stream is a perpetual source of money, a source of income that works for you rather than you working for it. This is what allows individuals to become financially free. When you have passive income you can work less and earn more. And because it is passive, you are not trading your time for money, and therefore you have no limit to the amount that you can earn. You can continually add new income streams, building an ever growing income.
You can use two basic modes of passive income; investments and business. Investing money into reliable investing vehicles can be a great way to make your money work for you. But not everyone has a lot of money to invest. But creating passive income does not need to take a lot of money, or any at all. You can create a simple home or internet based business for free and develop reliable streams of automatic income. For example, you can begin a website or blog and use it to host Google ads and promote affiliate products. A single site can be used for multiple income streams. And as you begin to have extra income, you can invest it into additional passive sources of income like storage units, vending machines, and rental real estate.
I have a passion for the internet business world. I enjoy sharing information about achieving financial freedom through passive income development. For more How to Develop Passive Income and Financial Freedom Basics
Article source: https://articlebiz.comRate article
Article comments
There are no posted comments.
Related articles
- 3 Great Passive Income Ideas for New Moms and Dads in 2024
- Avrex IO Redefines Real Estate Investment with Innovative Tokenized Ownership Approach
- Panama City's Real Estate Market: Top Neighborhoods for Investment
- Investing in a Condo or Villa in Pattaya, Thailand
- Tabania Group Rings in the New Year with a Powerhouse of Financial Services, Unveiling a Comprehensive Suite for the Digital Age
- To What Extent Has Economic Growth Improved Quality of Life?
- How to Manifest Wealth in Your Life
- Unlocking the Potential: Making Money Online with Your Phone”
- Blue economy of the world
- This Financial “FORMula” Will Help You Plan Around What Matters Most
- Losing a Parent: A Checklist and Timeline of the Financial Aspects to Address
- How to Avoid Lifestyle Creep: Try this 50/50 Rule for Saving & Spending
- (Money) Date Night: Why You Need One and 5 Topics to Discuss
- Private Placement Life Insurance (PPLI) in Offshore Trust More Useful Than Ever
- Indexed Insurance Policies Hedge against Inflation
- Should You Invest Abroad? A Complete Guide to Buying Investment Properties in Thailand
- What Are Your Retirement Planning Options?
- Daily Income Opportunity With U-Farm
- Building a Comfortable Retirement: Tips and Strategies for Investing in Your Future.
- Revocable Living Dynasty Trust (RLDT)
- Key Retirement & Estate Planning Tools
- Captive Insurance -- Details
- INDEXED UNIVERSAL LIFE INSURANCE (IUL) ADAPTS TO INFLATION AND HIGH INTEREST RATES
- GRANTOR ACCESS TO IRREVOCABLE TRUSTS -- EASE THE STRESS OF COMPLETED GIFTS
- CASH BALANCE PLUS PLAN
- Tax-Free Income Making More Sense in Global Financial Crisis
- Dynasty Trusts Guard Personal Autonomy in Hierarchic Society
- Captive Insurance Company, CIC -- Reduce Taxes and Build Wealth
- What is an RESP?
- Private Placement Life Insurance, PPLI