Billionaire Warren Buffett is a big fan of Passive Income and is proven by his famous statement. "If you don't create a way to make money while you sleep, you are going to run behind money your whole life".
Why do you need a Passive Income?
A Life free from the worries of Money no matter what you do or where you go can be fulfilled by Passive Income. Everybody does something in life in order to make money & earn a living. The reason why it's so important to create a residual ongoing income is to have good financial security.
No matter how good you pay is, a paycheck to paycheck is a slavery life with chains wrapped around. It's proven when you get a weekly off and you feel like you just came out of prison. Isn't it? Otherwise, why would you plan so much to enjoy on weekends and not on weekdays?
How to Create a Passive Income Online?
Passive Income can be generated online or also offline. The difference between online and offline may be the ease to invest and also the risk involved. Let's say you choose to invest in real estate to create passive income, it will cost a lot of money for your initial investment. & if you choose to blog, Vlogging or affiliate Marketing you might require lesser Investment to start and less risk too. Creating a solid passive Income might take years but you need to be patient.
Some tips to create an ongoing income:
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The greatest success in life always demands the biggest sacrifice, however the rewards are long term and is worth every penny.
Choose to invest your time and money wisely for the next 1-2 years, you will have a solid Passive Income that lasts for years to come. Get trained from a successful entrepreneur before you take any actions.