Are you crazy? You may ask.
"Am tired of making money." This sentence opens the article. Many people pursue success from the bottom of their hearts: "I want to be rich", "I want to earn a lot of money."
Unfortunately, what usually happens to them is a failure. Of course, there are those who make it big and succeed – but for the vast majority, their hard work leads to nothing. And as soon as they are forced by life to make an honest assessment of their situation, they soon realize that they are only running on fumes – always and only around the outskirts of success's territory.
When it comes to money, there's always a lot of people who are curious and want to know what others are doing. On so many occasions, I have the pleasure of meeting people who say that they have been making money for a long time But, have nothing to show for it. What I realize is that they are not happy with their lives even though they have been making money. Instead, they are tired of working hard and making little to no progress.
I believe that poverty is not caused by lack of wealth, but the pursuit of wealth causes us to forget our purpose in life. The pursuit of money is full of pain, distress, and suffering. It gives you sleepless nights and heart attacks, and could sometimes multiply your enemies. Despite all that, you may never make the money.
I also believe those who are wealthy today do not get their wealth because they are making money. You might be thinking am going out of my mind. Who will be wealthy without making money?
There are, the understanding you have about getting wealthy determine how you go about chasing money. You cannot become wealthy by making money, you will only become wearing. Making money is tedious and energy-sapping. Those who are wealthy don't do such, they don't make money, yet, they keep getting wealthy. There is a secret that we need to know about wealth building which successful people have mastered in building wealth for themselves. What then is this secret?
Let me explain.
Instead of trying to make money, successful people prefer to invest their time in building a passive income.
Most people take a job to make money and get what they want, but the impulse to do so often fades. Just remember that not all the time spent working is well spent. Investing your time in building passive income could have huge returns and a long-term impact on activities you love.
You may ask again what is the difference?
Here is it. Making money is a one-time thing. Passive income is recurring or continues. I was reading some articles and I found some useful information about passive income and how it works. One of the things mentioned is that making money is something that comes and goes. More and more people are seeking passive income because they know it's something that they won't have to worry about.
We spent so much energy and time to make money, to get that big break to realize our financial dreams. We might end up making the money to achieve our immediate goals, but it doesn't make us wealthy in any way. Moreover, we have to start again looking for another opportunity to make money, this might not come easily, and who knows how long it might take to get another opportunity. In the end, you are back to where you started.
This is the problem with many of us, we focus much on making money. We may make a lot of money initially, but when we get tired or lazy, our incomes drop quickly. Our incomes stabilize when we take our eye off the ball. We find comfort in the stability it provides when we can make a regular income without much effort. And that is when we cross the line.
On the other hand, those who go for passive income can sleep in peace as their wealth keeps growing passively. Passive income is the only way to make money while you sleep. It's a sustainable wood-pecker, and a long-term, low-risk tree.
The one question we're all pondering these days is how to make money while we sleep. I'm not alone in this. And I'm not the only one asking about the best ways to make money that way. The only difficulty is, there are so many ways to make this happen, with passive income being the most accurate and successful way. It's an effective way to make a living by earning a profit on something you already own.
When you focus your time on building passive income, your earning might be slow initially, but they will add up over time. At times when you are not able to work to increase your passive income sources, your income may shrink but very slowly. That gives you enough time to take a breather and some rest, then, continue building your passive income.
Making money is for the short term, while passive income is for the long term. Making money makes you desperate coupled with an insatiable desire to have more. It also creates a competitive tendency to outdo another man. It breeds greed in people.
An example of this could be found in Crypto day trading which is filled with emotions and greed. Making money will make you lose money because you are desperate to get the money. But, those who built a portfolio of assets for long-term capital will continue to earn money passively and effortlessly.
Making money is an accumulation of excess money. The amount of money you can accumulate is limited and finite and it can be quickly lost with poor judgment or when the markets dip. The goal of making money is temporary. If you want to build a life of freedom and independence, then, work toward the creation of something that generates passive income. Something that will be sustainable and hopefully generate more than just the income you need.
So, which of the two will you go for?
For me, am tired of making money, it's time to go passive. While you're focusing your time and energy on working for money, be mindful whether you are simply making money or building a passive income. Remember that making money will only satisfy your immediate goals, while a passive income will satisfy your life goals. Make your choice wisely.
So think of this as a pie. The direct, short-term gratification of making money is delicious. But the long-term satisfaction, the slow, continued growth of a passive income through a network of passive sources is ultimately the more delicious and fulfilling solution.
That's why I planned to withdraw from the pursuit of making money and go all-in for passive income. For the next year, I am going to invest more time in self-development and improve my personal quality to work while expanding my passive income sources. Let us have a clear understanding of life, let the time run into a river.