“True freedom = Having both time and money”
That is definitely the truth if you really think about it. So many people work long hours at their jobs or businesses, and even if they are pulling in a decent weekly pay check, they have little time to enjoy their lives of the adventures and opportunities that cash flow provides. Some people barely get enough time to be with their spouse or play with their children.
While a person in this situation has money, they are not experiencing true lifestyle freedom. Not by a long shot.
Now let’s consider the opposite end of the spectrum. Let’s take the circumstances of someone who is unemployed, or only part-time employed with no real backup cash. This person generally has plenty of time on their hands, but they are greatly limited in utilising that time to its fullest extent because they have little or no money to go out and do anything that costs money to do.
Most people on planet Earth fall into one of these two categories above to some degree. There are plenty of people working long hours with little downtime, and loads of people who have quite a bit of free time, but are not gainfully employed or have any sort of business generating cash flow on a passive or residual basis.
There’s no doubt in my mind and in the minds of many that true lifestyle freedom comes through having money AND the time to enjoy life. We all need money, that’s just the way the world is. But money should merely be seen as a tool and nothing more. It’s just a commodity like anything else. Something to trade with. Anyone can make money in one form or another, but the best way to generate income is to set up multiple sources of passive or residual income.
How do you achieve this?
Let’s list a couple of quick examples that can generate residual or passive income.
- Book sales
- Music sales
- Bank interest
- Investment returns
- Business profits
- Rental income
- Online business
I make residual and recurring income from the first two items on the list as well as the last one. I don’t like to rely on just one source of income, as that is a huge mistake. If that one income stream runs dry, then I have nothing else to back me up. Plus, the way to true financial freedom – or even wealth – is by establishing a number of income streams, setting things up in a way where residual income is earned so the actual earning of every dollar of income doesn’t consume all of your time.
That’s the real secret to time and money freedom, and the pathway to financial success.
Constantly trading your time for money will not get you this lifestyle.
If you would like to learn how to start a simple online business that can lead to residual income and true lifestyle freedom, click the banner below. Please leave comments below if you have any ideas to add.
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