Fair making of passive income :
If you will earn a decent salary, do they fall into this category? Should they be generating passive income through investing, or should they be doing what they’ve done with there and building income from scratch by investing their time in their efforts, and the answer always comes back to this first of all, how consistent is your income in your business? Because that’s our number one factor in determining whether you are going to be a passive incoming investor right you need to have a consistent monthly income number one, and number two, you need to have a fair amount of disposable cash to make this work. If you are looking to generate income by investing only, say, 5 or 10 percent of your income, you’re just not going to get there that’s the reality of it you are just not going to get because the fact of the matter is the seed that you have to put in has money.
So you have to have a fair amount of disposable cash regularly to go and invest in generating your passive income; there are times when it requires a little bit less money to give you a personal story like that. They did; we used to travel a lot in Libya, so the problem was that they couldn’t find places to rent and have their dogs with us. Because a lot of the places aren’t big friendly, what you did was they got a lease on a home there and basically, what they did was there Going to eat off the terms.
That they allowed a B&B the place out when they were not there, so what this did was they paid a fraction of the cost when they were there. But when they weren’t, there was also renting it out to the public, and they needed to manage the property. They just paid someone to manage it for them. So that’s another idea of generating bye-bye income, which takes less.
Terms of passive income :
If you mean you’re not buying the property, you’re leasing it but renegotiating the terms. It also ties back to what they’ve been saying all along, and like the book Rich Dad Poor Dad, they see me as buying assets, which is investing your money to create passive income from your money in the future. Absolutely if you think the key thing to understand is if you’re going to if target that income by investing, make sure that you have what they call runway to make sure that you have disposable cash available. As opportunities come up, you need to be able to seize them, and that’s why ideally, you need to be a decent income earner for this to work.
It’s not to say that you know if you’ve only got a few rounds available every month that you shouldn’t be doing something, and you should do whatever you can. But to make this work to reach a point of financial freedom of your passive income, you need to put a decent amount of money to work for you. The idea should always be to replace your work for income with not work for income, and that’s the one thing they want to highlight here; they’ve seen a lot of people who are pretty financially well-off who will you know, go and invest and they’ll start making extra money, and they take that extra money. They top it on to the top of their salaries. If you started living pretty lavishly, that defeats objects of passive money.
