Many think that the goal in life is lots of money, but the goal should be the freedom it gives. Financial independence equals freedom. There is no other goal than the freedom money will bring. Financial Freedom means you earn money in proportion to the amount of work you put into the universe. The universe wants you to be successful, but you must put in effort to achieve it. Effort is the key and will always be key. A lot of effort up front to bring the back end freedom. Most people view obstacles in a purely negative way, when in fact obstacles make us stronger and more prepared. When we have barriers and challenges in our path, we are given the opportunity for growth.
Passive income is a type of unearned income that is acquired automatically with minimal labor to earn or maintain. Did you know according to data from the U.S. Census Bureau, 20% of American households earn passive income either through dividends, interest, or rental properties. A selection of passive income generators that might lead to financial independence is shown below.
- Bank fixed deposits . A time deposit or term deposit (also known as a certificate of deposit in the United States
- Business ownership . If the business does not require active operation.
- Dividends from stocks, bonds and income trusts. The dividend received by a shareholder is income of the shareholder and may be subject to income tax
- Interest earned from IUL . On a monthly or annual basis, the cash value is credited with interest based on increases in an equity index.
- Life annuity. A life annuity is an annuity, or series of payments at fixed intervals, paid while the purchaser (or annuitant) is alive. .
- Rental Property. Break paragraphs up in to manageable chunks, consider breaking lists of information into bullet points, create sub-headings for longer posts and most importantly read over and spell check before publishing.
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