The Passive Income Mindset: You Either Get It Or You Don’t
The idea of passive income has excited me for as long as I can remember. It is the ultimate form of income, and yet many fail to see its brilliance. Once it is coming in, it is really inconsequential how much it is, because it requires no time to produce. The only reason a job or payment for services rendered is considered viable or not is its relation to time; the longer the task, the higher the payment.
If someone is going to pay you $100 for something that will take you 50 hours to complete, it simply isn’t worth it! By removing the element of time through the dynamic of passive income, all passive income opportunities become viable. The only relation that now exists is that some passive income opportunities may be more viable than others. However, if it doesn’t require your time, it can’t be a waste of time!
This truth either hits home, or it doesn’t. You either get this, or you don’t. It’s that simple! Some people still view passive income in relation to salary earnings. However, this is an unreasonable comparison. A salary requires 40 hours per week. However, a passive income avenue might require 5 minutes to set up and continues paying you indefinitely. There’s a huge difference!
Learn From Those Who Have Already Built Wealth
It’s well-known that the majority of millionaires have at least five income streams. I don’t know about you, but I don’t think I could handle five full-time jobs. It’s not even humanly possible anyway. This is further proof that the wealthy build and secure their wealth through the powerful dynamic of passive income via multiple income streams.
There is nothing more powerful than running out of cash on hand and then simply turning to one of your passive mechanisms for liquidity. Although you would rather not have to use up this income, it is great to have it available. Ideally, this form of income is best used to increase investment exposure and create additional passive income streams. Utilized correctly, this capital can have a compounding effect.
Compounding Your Compounded Returns
Always look to run the path of operations as far as possible. For instance, I am now utilizing a few passive mechanisms to fund some trading accounts. Profits from trading will then go to purchasing staking assets. Those yields will then be invested in something else. Theoretically, this can go on indefinitely. Once you meditate on that fact for a while, the power of this wisdom becomes even more evident.
Essentially, one can set in place an ever-growing income stream. Society is programmed to receive one large form of income and so ultimately is unable to think in this manner. Ever-growing multiple income streams don’t really have a ceiling, but the singular large income of a job is generally well capped. It can be difficult to succeed in this regard. However, if you do, scalability is on your side regarding income expansion.
Passive Income Really Is For Everyone
This is something that anyone can begin working on. Even a full-time employed worker can begin growing their own passive forms of income. Just because everyone can do it definitely doesn’t mean everyone will. I remember people saying that my idea of an incentivized economy doesn’t make sense because then who will be left to do all the manual work that is required?
Let me explain something very important. Moving towards creating your own economy through an incentivized crypto infrastructure is nothing new. Yes, the tech and dynamics are new, but the moral of the story remains the same. The moral is an age-old story of escaping the rat race. Individuals have been doing this for decades and even centuries, and yet the majority remained entrenched in their traditional thinking.
Likewise, you can expect the same thing now! Some will get it and go on to build meaningful income streams while the majority will continue to silence their alarm every morning and return home at 5 pm. History is a story that reveals an ever-present truth: the fool is servant to the wise. Those who are only prepared to do enough to get by will ultimately serve those who are focused on growth and maintain healthy diligence.
Where I Recommend You Start Your Crypto Passive Income Journey
One of the most effortless ways to begin earning passive crypto income is with passive income apps such as Honeygain and Earn.app. These are bandwidth-sharing apps that, once installed, run in the background of your device. Depending on your use and location, a single app like Honeygain can often earn anywhere between $3 and $20 a month. This also depends on your Wi-Fi speed and connections. Read my in-depth review on Honeygain here!
DePIN browser extensions can also be a viable route worth exploring. Find out more about DePIN and the free applications I use to generate passive income in a recent article. Browser extensions such as Slice are also good alternatives. It’s not life-changing money. However, once installed, they compound and build over time with an initial setup process of only a few minutes. This income can then be used to purchase staking assets, which will earn even more passive income!
Final Thoughts – Choose Wisely
Let’s ensure we choose the right approach and continue building for tomorrow. Build models that will ultimately serve and sustain your life. Hyperinflation is about to get nasty, and those doing just enough to survive are in for a surprise! Passive income streams can take time to grow and mature. However, setting systems in place and then systematically nurturing them over time can produce a viable outcome in the future. All the best! See you next time!
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