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Passive Income
Can you truly be wealthy without a passive income?
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[QUOTE="Mastergp, post: 292290, member: 85422"] [HEADING=2][/HEADING] It is generally considered easier to build wealth if you have a passive income, because passive income is income that you receive on a regular basis without having to work for it. However, it is not impossible to build wealth without a passive income. Many people have done so by saving a high percentage of their income and investing it wisely, or by starting a business and building it up over time. It may take longer to build wealth in this way, and there may be more ups and downs along the way, but it is certainly here are a few things to consider: [LIST] [*]Passive income can provide a financial cushion that makes it easier to weather difficult times, such as a recession or a personal financial crisis. If you don't have a passive income, you may have to rely more on your savings or other sources of income to get through tough times. [*]Passive income can also give you more freedom and flexibility in your life. If you have a passive income, you don't have to work as many hours or be as tied to a specific job or career. This can allow you to pursue other interests or opportunities that may not be possible if you were solely reliant on your active income. [*]However, it is important to note that building a passive income takes time and effort. It may require you to invest money upfront in order to set up a passive income stream, such as by purchasing rental properties or starting a business. It may also require ongoing work to maintain and grow the passive income stream. [/LIST] So while it is certainly possible to be wealthy without a passive income, having a passive income can make it easier to build and maintain wealth over the long term. [/QUOTE]
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