Why passive income is important for real wealth

Why Passive Income is Important for Real Wealth

Self discipline quote

We are over halfway through January 2021. How are you?

Have you fully shaken off 2020?

What did you promise to do in 2020 that did not get done?

What are you planning to do in 2021?

Maybe this is the year you want to achieve financial freedom. Financial freedom means the ability to have your passive income pay all of your expenses. I believe financial freedom is necessary for many reasons, and there are different ways to reach it.

We all feel freer when we have options.

FruitFor example, what if there was only one fruit that you could eat and this option wasn’t your favorite? That doesn’t feel free compared to all the options at the grocery store.

The same goes for investing. Most of us start a job that has a 401K and leave it at that. The problem is we can’t access that money easily without having to pay hefty penalties. And the theory behind it baffles me. Save your money now, tax-deferred, so that when you “retire,” you will be in a lower tax bracket and will pay less in taxes.

Who wants to be in a lower tax bracket when they retire? That means you make less money, which means fewer options. Is that what you want in retirement?

What if your child or your parent became ill and you wanted to spend time with them, you needed to spend time with them, but your job only offered a limited amount of time off.

Now, let’s say you have enough passive income that your salary is covered. You can even love your job and still have the income from other sources. Now you have options!

Money optionsMaking options for yourself and your family takes discipline. It is not necessarily easy to save money and build passive income. But you can do it. And if you want to have options, you MUST do it.

There are so many resources available to help you get started and keep you motivated.

Start by downloading my ebook 7-Steps to Building Resilient Wealth. Make a plan to finish the work.

“Find a group of people who challenge and inspire you, spend a lot of time with them, and it will change your life forever.”

-Amy Poehler

I would love to be a part of your support team. Schedule a call to start the conversation about what steps you can take to build that passive income.

This is our year. Let’s do this!

Until next time, give your money a mission, invest in real estate that provides a financial return, and improves communities.

Share:

Facebook
Twitter
Pinterest
LinkedIn

Related Posts

Vulnerable Wealth

Protecting your wealth is just as important as building it, especially for women creating lasting legacies.

The Richest Black Girl in America: Lessons from Sarah Rector with Dr. Felecia Froe

What happens when a 10-year-old becomes one of the richest Black children in America, without protection in place?
In this episode, Dr. Felecia Froe shares the remarkable story of Sarah Rector, an oil heiress whose sudden wealth brought headlines, legal battles, and racial scrutiny. It’s more than a story of riches—it’s a lesson in resilience, strategy, and safeguarding what you build.
If you’ve ever wondered how to protect sudden or growing wealth, this episode is your blueprint.