Most people have the “need” to make money but don’t have a clear idea about their end game. In most instances, people are not sure about their spending and end up working jobs that come with more responsibilities than they can handle.
Did you know that almost 20% of adults have a side gig to get extra cash and pay bills in the U.S? A report confirms that around 65% of Americans dedicate most of their day’s time to a job. In the end, these individuals are left with limited time, making it difficult to explore passive income options.
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Wealth and Accumulation of Wealth is Not the Answer
Wealth, at its core, is an abundance of resources. It is a Shakespearian tragedy that so many people give up on other resources to accumulate more wealth. It is a cycle that mutates into an endless mobius circle and creates more hurdles for people. No wonder people get lost in their journey to pursue wealth.
For instance, try to interpret the wise words of the Declaration of Independence through a different lens. The document highlights that every individual has the right to life, liberty, and happiness. But there is no direct mention of money or work. It dawns on most people late, but wealth is directly related to time, energy, health, and youth.
If you want to follow through the roadmap of Benjamin Franklin, you have to adopt a broad perspective about money. Once you jump into the rabbit of “how-to” earn money, you can explore hundreds of options. Still, there are many myths associated with money.
You grow up dreaming about being your own boss or a CEO. But assume for a second what if it is an old trap. In 2022, there is a paradigm shift, and business dynamics are changing for good. Fortunately, more people are realizing that they don’t have to break their backs to live a life of comfort and freedom.
Mainly, the objective to make money stems from maintaining a status quo in society. For many people, it becomes a personal will to please others. You may not be aware of it, but most entrepreneurs are broke. Most entrepreneurs either want to accumulate significant wealth or achieve true freedom. But the harsh reality is that over 90% entrepreneurs fail to achieve these goals.
Question the Need to Work
At the end of the day, it is about your burden of work responsibilities and not who you work for. Of course, it is your prerogative to work for a company and follow the order of society. However, it is hard to escape the question, “why do you have to work in the first place?”
Conversely, if you do a job you love, you may feel like you never have to work in your life. It is a theory presented by Mark Twin that influences people to try to land the job of their dreams. But contrarily, you should still ask yourself, “Why do you have to work?”
For instance, maybe you love doing something that has no defined job in the business space. In fact, there are a lot of activities that don’t pay money. The more you dwell on this question – the clearer it becomes that seeking a “perfect” job or being your own boss is not the answer. Instead, the key to your financial freedom depends on identifying an income source that does not depend on you so that you can meet your financial needs.
Enter: Passive Income
In layman’s terms, you should see passive income as a vehicle to get financial freedom and control your valuable time. Many people pursue their passion and fail to make it. And that’s because pursuing your dream and passion does not guarantee wealth. Although there are millions of talented musicians across the world, not everyone can be Lady Gaga and Jay-Z.
It takes years before people realize that a regular source of income does not equate with the source of fulfillment, joy, and happiness in life. You have to indulge in the idea that you can have all the happiness in life without ever conforming to the rules of society.
The Great Resignation Paints a Clear Picture
The Great Resignation affirms that most people don’t like their work or job. In fact, many people decided to step back from work only when work responsibilities spiraled out of control. But for many people, it was a blessing in disguise – it was a chance to form a new perspective about living your life without work.
Today, people lean where the money is and voluntarily give their money to exchange commodities. Traditionally, work does not bring “value” to your life. It may sound selfish, but you have to make the most of your short time on this earth. And part of the process is to create value with the time you have in this world.
Time and Money Theories
Of course, there are many philosophies around time and money. But most philosophical theories about time and money revolve around finding new ways of income and time management strategies. On the other hand, a passive income can be something out of your interest and expertise. The point is that passive income allows you to spend your time on your own terms.
It is a brave new world where people can use a few resources to launch a new business and accumulate wealth. In fact, the possibilities are endless to earn a significant amount of money. Human civilization now has more resources than at any other point in history. Yet, people still get caught in the cobweb of pursuing a job, forming traditional perspectives, and giving in to society’s rules.
“The most valuable resource you have is time” – Steve Jobs.
One of the highlights of creating a passive income is that you don’t need specialized skills and training. So, instead of cutting corners and cautiously preparing your finances, step back and question the need to work and understand how a passive income stream can save you from lifelong financial stress.