Passive Income and Financial Freedom With today's world becoming the more internet focused, it provides tons of opportunities; one of which is creating a passive income. This is one subject that has been highly debated in the world, primarily because of its nature. Everyone at some point or the other thinks about an income that allows time to relax and more to spend with your loved ones. Where you do not have to worry about how the money comes in, as long as they just come in. I believe this is what financial freedom is all about. One of the secrets to achieve all this is through the concept of passive income. A lot of entrepreneurs and business people have been taking advantage of this secret for a long time and they keep getting richer. …show more content…
A passive income is income you earn investing in a business without actually being involved in the business activities. A passive income earner is one who earns from a source that is not his/her contractor or employer. This is in no mean to say that you do nothing and in the end want to earn something. No matter how you want to look at it, this way of making an income still requires work. You would be surprised by the amount of work some passive income require. The only difference here is that no matter the work you participate in, it is nothing compared to the actual work involved. As much as some may like to think of it as a way of earning money while you sleep, I would like to defer a little. That is not so! Building a passive come stream requires a measure of work, maintenance and subsequent re-invention. Passive income is not something you set up so you can have the time to yourself doing nothing. The idea behind this type of income is liberating your time for other fruitful undertakings. If that is all your purpose for creating a passive income stream, you won't end up happy, but rather frustrated - one way or the other. The Other Side of the Coin - Active …show more content…
let us set one thing straight here: there is no way one can say he or she is making money without any value being created. Money is only made where value is created and this value is people-originated. In as much as passive income is defined as activity for generating income where the outcome is not necessarily dependent on your activity. It only means that income gotten is not directly proportional to your time and effort. So you see, an effort and time must be involved. To have an idea about what passive income really is, below are some features of passive income You never have to communicate with customers like the traditional business Every month (as the case may be), money is coming in with a minimal effort or none at all from you. It never stops until you want it to stop Has the potential to grow in value Passive income and the principle of
Focusing your life solely on making a buck shows a certain poverty of ambition. It asks too little of yourself. Because it's only when you hitch your wagon to something larger than yourself that you realize your true potential.
The top 10 percent, and even more so the top 1% , are going through increases in income expon...
I believe that there is too much wealth and income inequality in the United States
"Paul Samuelson explains that the present income structure is grossly unfairly distributed. If we made an income pyramid out of a child's blocks, with each layer portraying $1,000 of income, the peak would be far higher than the Eiffel Tower, but almost all of us would be within a yard of the ground'" (Kalra 10).
...heir own; I wish we all could be as financially secure as the upper class, but I also wish that everyone was as modest and grateful when receiving as the lower class. Possibly in the future, but I do not think this will happen anytime soon.
Time and time again we hear politicians and office holders preach the need for a powerful middle-class. You may then be surprised to hear that “about 82% of America’s net worth belongs to the top 20%, the next 80% of people only own about 18% of America’s wealth” (UCSC). Some may argue that this disproportion is the beauty of capitalism, the chance to create an empire. I argue that the proportions are simply unfair. Why is it that “ the average CEO makes 350X as much as his/her employee” (UCSC)?
they are different. It is like two sides of a coin, one is for options,
...ment, income inequality will exist due to the rise of some economically successful people and the further development of factors that push people into poverty. Although it may not seem fair that there are rich people blowing money on impractical and meaningless things while people live in poverty, it’s a reality that the United States has experienced for centuries.
No income is made at this stage as there is no revenue coming in to
Wealth distribution in the US is a problem that everyone tends to blow off. Although, in my opinion, wealth distribution is one of the most important. Unequal distribution could lead to worse times in the future. The video, Wealth Inequality in America showed me how Americans views on what we think the wealth distribution looks like is completely inaccurate. The top one percent has over forty percent of the wealth distributed on the US. The top one percent also has half of our stocks, bonds, and mutual funds. Our idea of what our wealth distribution is no where near this. Therefore, we need to work towards a goal of equally distributing.
Definitely a NO. But is this truly what you believe? Is this consistent with how you act? All of us want to make money to gain some status, some comfort, and some luxury. This money has brought, is bringing and will bring so many differences between some of you and me.
Diane, when you said, “but we are tied down by lack of knowledge, debt, high bills, low wages, cost of education, taxes, and laws.” I found this to be quite intriguing because I too feel that the top 1% needs to be tied down, just like all of us are by these atrocities we call normal American life, such as debt, and bills. I don’t know about you, but I wasn’t taught to be tied down in anyway, albeit if we feel the need to restrain the wealthy because of the money they control, it is only right to have some important factors sacrificed by the lower-to-middle classes as well. Money is very dangerous and I for one can make the claim that a lot of us wouldn’t be here if we had all the money that we wanted. I would probably just end up hurting myself
In order for one to be successful with finances, one must have a budget plan. Dave Ramsey shares steps to achieve financial goals. It requires determination and consistency. This paper will discuss the principles that one must follow in order to achieve financial freedom. What is financial freedom? Different people may differ in opinions on the definition. According to Dave Ramsey, financial freedom is becoming debt free in order to be able to bless others with one’s resources. One starts the budgeting process by setting financial goals.
Money is essential for our everyday lives and people have to face choosing whether to save up or spend their money. Of course earning our money can difficult considering that it is a necessary asset that affects every aspect of our life. Every day we see people working hard to earn as much money as the can. However how they use using the all the money earned is a frequently debated topic have seen many people who earn money and can no restrict themselves from spending .They usually act like wild animals fighting for food and being separating from the delusions of business. People are usually confused and frustrated by the amount money the use in a week without knowing that their daily impulse buying objects have piled up. Although it can be very hard to control there are many easy steps to stay away y from spending and instead saying up. Setting a goal, recording the amount you spend and even lowering your expenses can be small steps that will lead to great success in saving for the future
Most puzzling, though, is that people often seem aware at some level that money won’t make them happy. And yet they continue to work away earning money they don’t objectively need.