I agree with you, because many people get rich from cryptocurrency (Bitcoin) after they save for years, of course they buy Bitcoin when the price is very cheap.
Passive income can passive income make someone rich?
- Thread starter kayode10
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kayode10
VIP Contributor
One of the reasons why some people are chasing after passive income is to have more than enough to spend after all the expenses has been catered for. So if you have a proper plan in place to create streams of passive income, it is possible that you can get rich and become wealthy when you have multiple streams of passive income.
btaliat
VIP Contributor
Jasmine
VIP Contributor
JK Rowling, George RR Martin, Dan Brown everyone became millionaire by generating passive income. They wrote books that became best sellers and also managed to sell movie rights. Amzon is also a passive income source for Jeff Bezos. You can become millionaire and also billionaire from passive income but you have to do the right thing.
goldirarollover
New member
Many real estate investors who can manage their cash flow end up being the richest people in their neighborhoods. 
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Ezemoney
Guest
kayode10
VIP Contributor
To be very honest it can be very hard to build a passive income. but it is something achievable if you are dedicated enough to push further. all you need is a clear-cut plan on the type of investment you want to put your money into that will generate passive income for you. Make sure you use the profits to acquire other assets that will bring passive income.
Chibson
VIP Contributor
someone once told me that if you're not making money passively then you are not rich yet and I have come to realise that it is definitely the truth. The truth is that it's not easy to build a passive income stream. People like Bill Gates and the rest of them makes money passively.
kayode10
VIP Contributor
You need a good plan if you want your passive income to make you Rich. it can be very hard to become rich if you are any passive income and you are still living in lavish lifestyle. You need to invite the habit of saving culture. this savings can be gathered together to acquire other assets which will bring in more passive income.
kayode10
VIP Contributor
Looking at the situation of the economy as the present day you will agree with me that one source of income is no longer viable.
Is majority of the people are asked that what are the biggest lesson they learnt during the pandemic outbreak, most of them are going to see one source of income is not enough to sustain a family.
In fact the word passive income seems to be more popular during the pandemic outbreak as people are unable to go about their businesses to earn money.
I got to know about passive income when I was reading a book called rich dad poor dad.
But the question I want to ask you guys is that is it possible for someone to get rich as a result of passive income?
Is majority of the people are asked that what are the biggest lesson they learnt during the pandemic outbreak, most of them are going to see one source of income is not enough to sustain a family.
In fact the word passive income seems to be more popular during the pandemic outbreak as people are unable to go about their businesses to earn money.
I got to know about passive income when I was reading a book called rich dad poor dad.
But the question I want to ask you guys is that is it possible for someone to get rich as a result of passive income?
Mika
VIP Contributor
Investment in shares or cryptocurrencies can make you very rich. Interestingly, these are also passive income sources. When you invest in shares or cryptocurrency, you do not have to do anything except wait for a few years for your investment to grow. If you had invested a couple of hundred dollars in Solana, you would have become very rich now.
kayode10
VIP Contributor
It is possible to become rich with passive income once you get your calculation right. You must first determine your total expense. With that, you can come up with calculation on the amount of money you want to end that will surpass your monthly expense. You are going to become rich when passive income support expenses by far.
Passive income in general will not make people rich, because the earnings from passive income will be proportional to the amount of capital invested, in general passive income is a fixed percentage times the amount of investment. Excluding investments in land and houses, stocks whose value will be doubled in the future.
kayode10
VIP Contributor
I don't think a single passive income source can make you rich especially when they are bringing you little income. you must make it a major aim to acquire at least five passive income for yourself because you are going to benefit a lot to do in this. First you are not going to run out of cash even if one of the sources is no longer bringing money for you the rest will cover for you.
kayode10
VIP Contributor
Passive income can make you Rich if you have wide range of investments that are bringing you residual income more than your monthly expense. take for instance if your monthly expense is not more than $1000 and you have series of investments that is bringing up to $5000 for you. You will have more than enough at the end of the day and you are rich in that way.
I believe that it really depends. From scratch, it may take a very long time to become "rich" so, it can be easier to aim for lower goals. The starting point to make money and the goals will decide if it is possible. The outer factors are important too. Basically, yes but also up to lots of factors. Determination is essential.
kayode10
VIP Contributor
Sotherefore
VIP Contributor
I believe all these things will depend on interest of an individual people who are really interested in any income social affiliate marketing and is determined to succeed in a will definitely make a lot of money. Determination is always the most important thing in anything you are really interested in doing.that is what I observe.
