Most of us at some point have been glued to the job. I was lucky in that I was always an entrepreneur, and always thought outside of the confines of a 9-to-5 existence. I was always looking to create a passive income flow. I was always looking for ways to invest in myself in order to create freedom.
But when the majority of people start out building a 5 Day Weekend for themselves, most if not all of their income is active. To shift to more passive income streams, resources are required to invest. You start by creating as much discretionary, investable income as possible from your existing resources. Next, you start side projects to increase your income.
Once you’ve put enough money together, you start investing. As your investments grow over time, you shift your income from active to passive.
But you first start by investing in yourself.
If you have less then $10,000, invest in yourself by seeking mentoring, taking courses, and reading books. As your knowledge increases, you’ll be surprised by what investment opportunities arise for you.
Once you start investing, your investments build over time, thus shifting your income from active to passive.
Depending on how aggressive and effective you are with the process, within five to 10 years the majority of your income will become passive and you’ll be able to work two days and enjoy five days of weekend each week.
It’s true: I accomplished this with careful planning and a strategic focus. You can too.
In my next post, I look at how you can develop your passive income ratio.
In the meantime, I’d love to hear from you. Are you currently in a position where you rely on active income? What does this consist of? Thank you for sharing.
Secure your copy of the “5 Day Weekend” book. 5 Day Weekend: Freedom to Make Your Life and Work Rich with Purpose [Nik Halik & Garrett Gunderson]