I guess that is a bit of a strange analogy but I think it works.
The idea with building up passive streams of income is that they take time. Sure it would be nice to be able to suddenly win the lottery and have some financial guru invest it all for you so that you can basically live off the interest, but that is not a realistic scenario.
The fact of the matter is that you are going to have to work for your money and if you are building relatively small passive income streams at first then this might be a bit discouraging. But understand that if you stick with it, then you’re going to have a cumulative effect in these passive income streams and eventually you will have a nice sustainable income that allows you the time freedom that you’ve been striving for.
Nowhere does this seem more evident to me than with internet marketing. For example, I currently have a small network of websites that make money with Adsense but right now only one of them is monetized and actually displaying ads….the rest are still in “growth mode.” But my one website is doing fairly decent and is generally pulling in a couple hundred bucks each month in *almost* passive income – I am putting in around 3.5 hours of work on that particular site each week (which is enough to keep it growing…I could do less and maintain the income as well). Pretty good money if you ask me and if you do the math on that we are talking about 14 hours of labor per month and that is coming out to around 22 bucks an hour. I only make around 12 bucks an hour at my day job. If you can generate web traffic then you can make money online.
So looking at that I thought to myself, will this scale? Can I put in more hours and simply make more money? Well the answer is yes and no. Yes of course I am pursuing this option but no I can not make it happen overnight. Which brings us back to the original idea of this post: it takes time to build up passive income streams. It doesn’t happen overnight and if it did then it would be “work” and the income would not be recurring. But as it is you are slowly building up a system of making money over time and thus it is more like a “time investment” than it is “work.”
I have spent a lot of time building up to the level of passive income I am at and now I can sustain it with only a few hours each week. It’s not exactly free cash online but it is very close to being fully passive and the whole point is now I’m going to simply duplicate what I have already done about 5 to 10 more times and then I will have a very nice full time income from very little work.
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