By Jay Magpantay
We need money, plain and simple. Our bodies need food and shelter while we want fun things to enjoy. So while money ain’t everything, we still need money.
How do most people earn their money? Easy answer: through their jobs.
But what if we hated our jobs?
Have you woken up several days thinking that you hated your work?
Or that you wanted something better?
Lucky for you and I, there is a way we can fix that. It’s called, passive income.
Basically, passive income is money coming in that takes little effort to maintain; money that comes in regularly without us having to work so hard to get it.
Imagine sitting on a beach on the beautiful North Shore (Hawaii), with the cool ocean breeze cooling down your warm skin while listening to the crashing waves of the Pacific ocean.
You’ve been on this getaway for 10 days, enjoying time with your significant other, family, and friends in the area.
Your phone alerts you to a text message that says, “You earned $1000 this cycle.”
You just made a thousand dollars not while working, but while on vacation, wouldn’t that be nice?
Now imagine if you were getting those text messages twice a week in varying amounts.
What if you were earning $1,000 – $5,000 a month passively, might you be able to fire your boss and quite that job you don’t love?
But how do you earn passive income? 2 ways:
1. Invest money
2. Start and grow your business
1. Invest – Make your money work for you. With compounding interest, time and the right savings vehicle, your accounts can earn money even while you withdraw. The downside though is that it takes a lot of money to make money through investing and none of us are in that kind of money right now, plus that’ll take us about 40 years and we’re not trying to wait that long!
2. Business – This is the focus of our group: to grow our businesses to become not owner-operators but only just owners. With any business, it takes time and effort. Both factors force most business owners to quit too early but for the go-getter, this fuels you even further. Instead of giving up too early, the go-gettin, hard chargin’ individual works even harder. You believe in your business. You believe that it’ll get you where you want to be – you work harder so that you can get there faster. It’s no easy ride, but you know that in the end, it’s worth it.
Some of us start our days early and end them late.
We fill our days with activities we know will grow our business because we want to live young & retire.
If you have the money to invest, do so. Put your money in a vehicle with guaranteed safety and high potential for growth (we can help).
For the rest of us, it doesn’t have to take a lot of money to start your business, you just have to start.
Stop finding every excuse not to do it and instead look for every reason why you should.
The worst case scenario is that you learn something that you can bring with you to your next endeavor.
Best case scenario?
Well, there’s plenty of beaches all over the world, we’ll race you in trying to visit them all.