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Why diversification is key to building passive income
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[QUOTE="arunima25, post: 291162, member: 30475"] While most of us have ideas about making active income, the same can not be said about making passive income. People keep talking about ideas to create passive income and some do make it sound quite easy. But trust me it's not a piece of cake. Active money can be made by job ( one or multiple) and even some side hustles along with the regular job. But when it comes to passive income, it mostly depends on the investment and how to grow more money from there. And for any investment that can give you passive income, you need to have good saving to start with. And most of us have that saving coming from our active income. People feel that getting rents from our property is a good source of passive income and I totally agree there. Even to own a property, you need money that you would have saved from your active income. So, we need to have active income to save and invest so that we can generate passive income later. Diversification of your financial portfolio is a must and it is the wisest thing to do. All financial experts would advise that. Depending on your convenience and situation , you can diversify your portfolio. [/QUOTE]
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