Passive income is money that you regularly receive from a source such as investment or pension fund. These are income from sources that a person doesn’t need to work for anymore since they already spent years building them and just collecting its fruits. Dividends from investment is a good example of passive income. Since dividends and fixed income is a percentage of your investment capital then it makes sense to grow your investment as much as you can and the best time to start doing it was yesterday. This means you should start as early as you can and if you are no longer as young and haven’t done it then you should start doing it now.
I don’t suggest to spend all your present time working and thinking about retirement and putting all your extra money into it. I am just saying that you should invest for your future and the earlier you do it the better your chance of becoming a millionaire or even a multi-millionaire. Just have the proper budget for leisure and investment and enjoy life while you are in your journey to becoming financially successful. Setting up and monitoring your investment shouldn’t take too much effort and time from you.
Some people procrastinate and never done investing at all, some people started late which is better than never doing it. There are those who started young but didn’t have the right information about investing so they end up losing their money and time. This actually happened to me. I started investing when I was young but didn’t have the right information and just listened to people who pretend they know but have no clue on how to invest properly. I realized that my method is flawed so I started my own research and eventually learned how to do it properly. I continued accumulating knowledge and weeding out wrong information from many sources that can be found out there.
I have written these notes in the hope that you no longer need to go through the time consuming process of trying to identify which information is useful and which are not.