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Read the script:
I have been making passive income for the past 10 years. In this video I am going to talk about why making passive income is so important. Stay tuned for follow up videos where I show you some of the best ways to generate passive income.
So you might be saying, Jason, what EXACTLY is passive income.
Passive income is income resulting from cash flow received on a regular basis, requiring minimal to no effort by the recipient to maintain it.
So let’s get into the analysis and why myself and others are turning to passive income…
Number 1: Work Anywhere in the World
I have been all over this world with my laptop making money. Not bad for someone who’s high school guidance counselor suggested that I work as an assembly working in a factory. Here is the deal, as long as you have a laptop, tablet, mobile device and internet connection you can work wherever you want. In a typical 9 to 5 job you are usually stuck in the same place day after day, week after week, year after year.
Number 2: Give yourself a Raise
With passive income you can give yourself a raise without asking your BOSS. Want more money? Simply work harder and smarter. It may take a while but before you know it your passive income streams will start flowing into your bank account.
Number 3: Work Now get Paid Over and Over and Over
Do something NOW and get paid for years and years. For example: I set up my Kindle Publishing business 4 years ago and still receive roughly $3000 a month without doing anything at all. With a 9 to 5 job all of the money you make you actively have to be there working. Which brings me to my next point…
Number 4: You No longer trade time for money
Think of these passive income streams as little soldiers out there on the front lines battling for you. You are using your brain and readily available tools to duplicate yourself and make money for you 24/7/365. With a 9 to 5 job you have to be there punching a clock and trading your most valuable resource (time) for money.
Number 5: You never have to worry about being Fired
We all know people that have been fired unjustly. 9 to 5’ers have to deal with office politics, downsizing, and the possibility the company they work for could go under. When you become a true passive income ninja you no longer have to worry about that.
Number 6: 9 to 5’ers get taxed
As a business owner we have WAY more tax breaks and options than a typical 9 to 5 W2 employee has. Word to the wise. You will want to make sure to hire a tax professional to help you with your taxes to get you the most savings. Doing taxes as an entrepreneur is definitely not a DIY project.
Number 7: Spend time doing what you love, with who you love.
Most 9 to 5 grinders wake up to the sound of the alarm and dread going to work. I get to stay home with my son, travel anywhere I want, and pursue hobbies and dreams I would never get a chance to if I was chained to a desk
Number 8: Passive income is fun and highly rewarding
The options in front of you are truly limitless. I wake up each day eager to check my bank account to see how much money i’ve earned from my Shopify stores, Kindle Publishing, affiliate sales, and other passive income streams I have going.