Source: CANVA
Earning passive income is a dream that many of us are dreaming about.
You might ask me what gives me the authority to talk about passive income. Am I living off of any stream of passive income?
And I will be the first one to admit and say "No, I am by far not living from any form of passive income". I definitely am a part of the crowd who still dreams about creating a passive income from which I can make a living.
But I did some digging to learn more about the idea of passive income.
For instance, just how passive is passive income really?
For example, I am the kind of person who needs to keep myself busy with something. I don't really like the idea of sitting around on my couch all day long while watching television.
The other fact that I have figured out for myself is what I've personally seen happen many times over. Someone might be living an active life, especially if that activity is mainly work-orientated, and then they retire. In many of these cases, retirement is then seen as sitting back, relaxing, and "enjoying your golden years".
What I'm going to say now is sad, but unfortunately true. Many times, these people will become totally passive. It normally doesn't take long and then you can physically see how they start aging. They start developing more and more health issues...and the sad part is, they either don't really have a long life after retirement at all, or the quality of life deteriorates rapidly.
On the other hand, if someone starts traveling after retirement, or they start a new business or take up some hobby, their health seems to stay intact for longer and they can continue to live a quality lifestyle.
This is where the importance of passive income is coming in already. Many people who just rely on their retirement fund, cannot go traveling or do some fun things indefinitely before their funds start drying up and they cannot keep up with normal living expenses and funding whatever activities they love doing.
Passive Income
So this leads to the fact that passive income is not just a nice idea. It's actually a necessity.
But, many people have a misconception when talking about "passive income". Maybe the internet can be blamed for this to some extent.
How many times do you see adverts for the next great opportunity? Just register for this program, and six months from now you can sit back on some exotic island and just be sipping on your tequila all day long.
I know you won't fall for that type of scam, but I am just mentioning it...lol.
But coming back to the idea of passive income...
No income...not even passive income is ever fully "passive". There will always be something you need to do.
It might be minimal...like checking in on an investment first thing in the morning, or maybe once a week or even once a month. But you will have to keep an eye on it and manage it.
You might be an entrepreneur and own a business or even several businesses which are managed by other people. But from time to time you will have to check-in, look at reports, financial statements, or attend meetings to make sure everything is under control.
Source: CANVA
So yes, It most definitely will free up a lot of time for you to do other things you love, maybe start another business or whatever makes you tick...but nothing just happens all by itself.
Passive Income Has to Come From Somewhere
Another thing people don't realize about passive income is that it actually does require work.
Once again referring to the internet, we often see that "easy button" mentality.
Just click here, or just do this one thing and earn while you sleep.
And yes, passive income pretty much do come in while you sleep. It is true when you get told how so-and-so just gets up in the morning and check all the sales he has made "while he was sleeping"...or how much money got paid into his account "while he was sleeping".
What doesn't get pointed out to you, is all the work that went into the project before that money started coming in. Often there were days, weeks, or even months of hard work before the results became visible in the form of income.
Source: CANVA
There is even a form of passive income available to you right here on the Hive blockchain. You can start investing in some of the tokens in the Hive-Engine that generates passive income.
You buy these tokens and they generate income in various tokens, some even in Hive, Some are paying out daily, and others are paying out on a weekly basis.
Yes, you don't have to lift a finger. Once you have invested in those tokens, you start receiving passive income.
But, you first have to work on earning an active income to earn enough that will enable you to invest in these tokens. Especially if you want to earn a passive income worth mentioning, you need to be able to afford a decent amount of these coins to create the kind of passive income you need.
So remember this...
Without hard work, nothing grows but weeds. ~Gordon B. Hinckly
So, I hope I didn't shatter your dreams about earning passive income with this post. I do hope that I maybe gave you a better perspective of what to expect.
To work towards earning passive income is awesome, but first you have to do the work.
I just don't think it's wise to build passive income with the idea of sitting back and doing nothing.
If you can build that passive income through something that you are passionate about, it will free up time to also do other things. But you won't become passive.
Look at some of the richest people in the world today and I'm sure you'll understand what I mean.
Look at people like Elon Musk, Sir Richard Branson, and Robert Kiyosaki to name just a few.
There is no sign of slowing down. They just keep pressing towards the next goal.
That's it for now.
Thank you for reading my post.