today i just need to share with you guys a concept which people MAY or may NOT understand!
and that simple terminology is PASSIVE income.
im SURE you guys must have heard the term of being financially FREE!
but WHEN are you exactly financially FREE? there is actually a formula which explains just that!
the formula is when PASSIVE INCOME > EXPENSES.
that is it. passive income is actually income which comes into your account without you having to work for it! the money you get from your daily job is what you call ACTIVE income. PASSIVE income is income which comes in when you do nothing at all! say for example. you decided to QUIT your job today. will you have money coming into your account?
WAIT RESH do you mean you make money without even having to work? YESS! THATS EXACTLY WHAT I MEAN! a very easy example most people understand is RENT! if you have a house or room to rent out, every month without fail your tenants have to pay you right? YUP! thats exactly it.
TO BE FINANCIALLY FREE your income coming when you do NOTHING at all should be greater than your expenses. but MOST people dont have any form of passive income. that essentially means they will be STUCK in the rat race all their lives working all the way. I for one certainly dont intend to do that. I am gonna retire in my twenties! 😀
currently right now i have build THREE sources of passive income for myself. i achieved TWO of them just recently.
just last month after only about 3 months+ into the business i became a SENIOR rep in Worldventures. my AMAZING TRAVEL COMPANY. after youve build a team of about 60 people you receive a residual cheque every single month for the rest of your LIFE of up to 500 BUCKS! thats PURE residual. with or without work i get the cash in.
here’s the picture of the shining ONE STAR i achieved! 😀
i’m incredibly proud of this achievement in my life thus far! i have so many more things to achieve and see! what really has changed me in this journey is the fact that i can help so many people earn an additional stream of income weekly! it really warms my heart when my friends jump up and down screaming with joy when they make money! #bestfeelingintheworld!!!!!!
oh and btw i hit another FIVE THOUSAND DOLLARS in sales again baby!
YUPPP! so that is my FIRST stream of passive residual income!
the OTHER two income streams is through my investments! as you guys might have read in my previous posts im an active options writer as well. i trade commodity options. and abiding by what robert kiyosaki himself taught me i invest the profits from my business and channel it to investments to accumulate and generate more income! my returns have been very substantial with 5 -7% compounding growth every month! i will share with you guys more on options writing and how it is in fact one of the best financial vehicles to use! the amount in our account has grown to over
50, 0000 USD.
Through this amazing financial vehicle passively the account grows by a few thousand every month.
The next stream of income for me is through my investment in convertible bonds which i shared with you guys from very early on! through the dividends paid out every 45 days my account grows by about 5%
as well. i like compounding and growing my wealth. age is on my side. and i do know for a fact that compounding will work magic for me.
after all, this blog is tracking my progress to my FIRST MILLION DOLLARS!!!!!! when i tell myself something. i set my sights on the goal i want to achieve and nothing will stop me. if you’ve known me since secondary school days you know that when i want to achieve something i will go all in to get what i want, be it in studies and in weightlifting. so YES! I want to build moree streams of passive income. so that’s what i spend my time doing. thinking of new innovative ways to generate that additional stream of income.
well i guess i have achieved something substantial at my age but i give all credit to Jesus who has picked me up from dust and moulded me. NOTHING IS IMPOSSIBLE FOR MY GOD! my faith sustains and carries me through many of the challenges i face. i pray i can help many more people achieve their dreams and goals. i want to be a blessing to many more people. that just might be you. do contact me if you wanna learn and see what i do. I don’t charge. Hahaha! maybe NOT YET! 😛
oh yes in my next post its all about the amazing world of options again! more in detail and what ive invested in. 🙂
god bless you richly always