Chasing passive income has become my new passion in life. I am currently generating about $300 per month that I earn with adsense in passive income and this requires less than 5 hours per week to maintain.
Of course I am going crazy and putting in a few hours each day in the hopes of raising this level even further. However, even if I have to put in a bit of time and “work” to raise and eventually maintain a higher level of online income, there are some huge benefits to doing so that get me excited:
1) Online income = day job freedom – I am anxiously awaiting the “crossover point.” This is where my online income exceeds my day job income. I am thinking this will occur within a year’s time from now, which is exciting indeed. At that point I will have the ability to make quite a bit more money and hopefully pay off my student loans within a year or two. Of course by the time that happens my online income will have risen to even higher than my day job income, at which point I will simply quit my job and focus on my online ventures. Not doing so would probably be taking a pay cut because I can make more money for every hour spent online than I can in working a day job.
In fact, this point will probably come much sooner than I am foreseeing, but the nature of risk will keep me at my day job longer than is necessary. In face I should probably quit my job and focus my efforts online right when I am approaching the crossover point, not 1 to 2 years later. But fear and conditioning hold me back from doing so. It is more “prudent” to work a traditional job and repay my debt with the safety and security of a real day job, even though the smart move might be to shift over to internet marketing full time.
2) Online income = time freedom – man it will be nice to finally quit my day job. Freeing up 40+ hours each week is going to be such a relief. The nice thing is that I’m slowly building my online income in such a way that it will not suck up all of my time, because I’m easily maintaining my websites with only an hour or so each day.
3) Online income = mobility – it will also be nice to be able to move around and travel without having to worry about anything. Just take your laptop and be gone, it is that simple. This is the power of having an online income, it frees you up so that you can go anywhere and do anything without having to sacrifice income. When you make money on the internet you no longer have to barter for vacation time at work or worry about how you’re going to pay for a vacation and manage to get the time off. You can simply go where you need to go, when you need to go there.
Passive income is great and the internet is the great lever that you need to achieve time freedom and mobility in your life.