| Most people exchange their time for
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| | reason is simple. There just is not
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| money. Their entire compensation package
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| | enough hours in a week to work to make it
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| is determined by the number of hours that
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| | profitable long term. Eventually, there
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| they work in a given week. Typically, an
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| | is a cap on one's earning potential due
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| hourly wage is set which is multiplied by
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| | to the time limitation. Couple this with
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| the total hours worked during that time
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| | the fact that taxes take a greater
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| period. The standard in this country is
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| | percentage the more that is earned and
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| 40 hours with overtime accumulated after
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| | one quickly realizes that it is a
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| that. One's complete paycheck is
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| | fruitless proposition.
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| contingent upon them showing up for work.
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| | The key is in the concept of passive
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| Miss a day of work and there is no pay
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| | income. Basically, passive income is
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| earned without sick time.
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| | money acquired without you "directly"
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| Another common pay plan is a salaried
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| | working for it. It is income that is not
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| position. This is similar to the hourly
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| | an exchange for time. If work is
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| except the pay rate is the same each week
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| | required, it is done one time with the
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| regardless of the number of hours worked.
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| | money flowing in multiple times.
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| Overtime is usually not available in
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| | There are two forms of passive income:
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| this scenario. Unfortunately, most
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| | income derived from business and income
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| people end up working more that the
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| | derived from investments. Business
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| normal 40 hours under this plan.
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| | income is the money that one receives
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| Companies put so much pressure on
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| | without actually needing to work in the
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| employees to increase production that the
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| | business. One acquires a business that
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| time spent working seems to lengthen with
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| | is either run by someone else or is self
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| each passing year.
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| | sufficient. The profits generated are
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| This is the common mindset that is
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| | taken out by the owner thus yielding
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| instilled in all of us growing up. We
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| | passive income.
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| are taught the we are to do well in
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| | Income derived from investments is making
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| school to get into a good college. Once
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| | money from money. Instead of you working
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| there, high achievement is stressed so
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| | for money, it is putting your money to
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| that we can get a good job with a decent
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| | work for you. depending upon the
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| salary. When we accomplish that, the
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| | investment, a rate of return is realized
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| pressure is to work hard so that we can
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| | which generates passive income. Examples
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| advance to higher ranks within the
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| | of this are dividends from stocks,
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| organization with an associated increase
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| | appreciation in real estate, interest on
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| in pay. Finally, we can retire after a
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| | savings, etc...
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| productive career and drift off into our
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| | The wonderful aspect of this type of
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| golden years.
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| | income is that the money is created
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| Unfortunately, in this era, this concept
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| | regardless of one's efforts. If you
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| is not realistic. Although the
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| | don't show up for work, the income still
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| educational system still prepares us to
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| | exists. You will earn the same while at
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| get a job, the lifetime employment with
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| | work as you would sitting on the beach.
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| the same company is bygone. People
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| | In addition, this allows one to increase
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| typically work for numerous companies
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| | their overall efforts. If your money is
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| during their careers. Massive layoffs
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| | working while you are focusing on
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| are well documented. Loyalty either from
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| | something else, you are, in effect, paid
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| the company or the employee is almost
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| | twice for your time. It is easy to see
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| non-existent. Oftentimes, people are
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| | how it is possible to create massive
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| caught in financial hardship due to
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| | wealth under this scenario.
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| unexpected changes in circumstances.
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| | Focus your attention on creating passive
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| How does one get ahead? It almost
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| | streams of income. It holds the key to
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| impossible to attain financial abundance
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| | all financial freedom.
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| when exchanging time for money. The
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