Passive Income

Passive income is the best thing in the world.  I used to work in the insurance industry and would hear all the raves about residuals and working for ten years to have a lifetime of never having to work again.  I saw people around me achieve it but always thought it was too good to be true.  There had to be a catch.

Nope.  No catch.  Residual and passive income exist out there in many fields and many forms and I am now a huge advocate for it.  It takes some upfront work and tapping many different income streams, which I have been doing for a little while, but once it starts rolling, it's just like a debt snowball: it builds and builds and builds.

My debt payments this month have not been as substantial as I would like, but I still am feeling good about things because I have been able to work much less and still reach the goals that I had set.  I am hoping to up the ante and revisit some of my goals to see if I can add more work hours back into my schedule and increase the payments.

Passive income is definitely not a get rich quick but it goes back to the same long term thinking of debt reduction.  What you do today will matter five years from now so you have to start today.  Once I decided to start, I didn't see the long term goal.  It sounded like an unattainable dream, much like a debt-free life.  But after a few months or a year, the results are there, as small as they may feel.  But those small results get big fast once the ball is rolling.

I was really amazed to sit and ponder the similarities in building a passive income and paying down debt.  Both are things I could not have done a few years ago as I just was not in the correct frame of mind.  I wasn't looking into the long term as a reality.  The future seemed like something I would deal with in the future.  Doing a ton of work and receiving no money (in fact, I was shelling out money at the beginning on domain fees, etc.) was discouraging, but I kept trudging through only because I enjoyed what I was doing.  Then things transformed and the passive income snowball is growing and plowing right over the debt. 

Financial freedom is coming.  I can just feel it.  And allow me for a moment to pull out a cliche:  If I can do it, anyone can.