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MenuHow do you get out of the rat race and build passive income?
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I'd suggest investing in a business (or businesses) of your own.
A successful business will provide you with the greatest return on investment you will likely ever come across.
There's no blueprint on how to do this - but there is definitely wisdom, strategies and tactics you can use to significantly increase your odds of success and maximize your ROI.
If you're interested in learning more - give me a call.
In any case - Best of Luck!
I agree with Naeem. Do some research in companies that you believe in, and invest in them. Invest directly or through good growth stock mutual funds. A gradual increase in your saved money every year will start generate that passive income that people talk about.
The stock market's average since inception has been around 11.5%. For example, if you were to have $500k saved up, and you are earning 11.5% annually that could yield $57,500 (500k x .115) which would be considered passive income.
Slowly, patiently, and gradually. Building up a passive income takes a good deal of upfront investment.
An asset is something that you own, that produces income for you. Your body, your energy are inherent assets. So, the amount of income you can produce with your own body and physical toil or effort is limited. So, the type of assets you want to focus on are assets that you can acquire, to produce an income stream for you without you yourself expending any energy. An asset produces income for you. So, they are the opposite of an asset since they remove money from your pocket instead of putting money in your pocket. If you use 100% of the money that you make, then at the end of the day, you have $0 left over. This is what keeps people in the rat race of life. There is absolutely no way out of this scenario if you keep using 100% of the money that you make with zero left over to buy assets with. To take it even further, a lot of people use more than 100% of the money that they make. If you did not have money, you could not easily get a hold of more money. It will only dig you further in the money pit and it will take you longer to climb back out and be at $0. You basically need to use less than 100% of your money. The less you use, on liabilities and consumables, the more money you can put towards assets that will produce income for you. And the more of these assets that you accumulate, the bigger your snowball gets over time.
You can read more here: https://tubofcash.com/escape-the-rat-race-with-passive-income/
Besides if you do have any questions give me a call: https://clarity.fm/joy-brotonath
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