King bell
VIP Contributor
The success of your passive income depends on the amount of time and energy that goes into it. A good passive income does not mean a big amount of money coming in regularly; it is about consistency. It is about putting in the work and doing enough to keep that money coming in steadily.
In order to make any income from passive sources, one has to be consistent and put in enough labor hours or time into a skill set to maintain his/her presence there. You can't just jump to passive income; you have to be patient, consistent and put in the same amount of effort in order to maintain it.
I use my money for passive income mainly for the following reasons:
To provide financial security for myself and my family To help fund our dream vacation To invest in myself To invest into my education To save up money for a rainy day Contribute to retirement funds (401k, I-bond) etc.
Passive income is not free money; you don't hand it over to someone else passively. You have to put in the time, energy and patience needed to keep that money coming in regularly and steadily.
In order to make any income from passive sources, one has to be consistent and put in enough labor hours or time into a skill set to maintain his/her presence there. You can't just jump to passive income; you have to be patient, consistent and put in the same amount of effort in order to maintain it.
I use my money for passive income mainly for the following reasons:
To provide financial security for myself and my family To help fund our dream vacation To invest in myself To invest into my education To save up money for a rainy day Contribute to retirement funds (401k, I-bond) etc.
Passive income is not free money; you don't hand it over to someone else passively. You have to put in the time, energy and patience needed to keep that money coming in regularly and steadily.