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A New Twist on an Old Way to Think about Your Passive Income Streams

By The 1-Hour Workweek 4 years agoNo Comments

Did you know that right now you are probably a part of somebody's passive income streams?  It's true.  You are a wheel in the cog that is making somebody else a lot of money—somebody who isn't actively working for that money, but they are passively receiving it.  What's worse is that you're actively working for your money and you're still turning it over to their passive income streams.  Sound unfair?  Well, it is—but that doesn't mean you can't change the course of those passive income streams and earn money yourself.

 

What Passive Income Streams are You Feeding Into?

passsive incomeThe first step to reversing passive income streams and directing them towards your pockets is identifying which ones you are paying into.  Next, simply eliminate the ones that you can afford to get rid of.  Here are some examples:

  • Your job.  Yes, your job is a likely a passive income stream.  The only problem is that you're not at the top of it.  How?  Well your boss might come in, but he supervises, right?  He doesn't do as much work as you do, so he's a little bit more passive—but he's not the endgame. Someone higher up from him does even less work and then from there, the work keeps getting less and less until we have the ultimate manager that just hires everyone and pays their salary. That's where all the work you are doing is profiting—his passive income streams.  Still like swimming in their stream?
  • Your rent.  Renting an apartment or renting anything is a passive income stream for the owner because they are putting in minimal upfront work and upkeep while maintaining a steady stream of income from you.  Every month you hand over a portion or your paycheck that you were paid for earning your management money that week.  Starting to get the picture?
  • Your credit.  Anything that you owe interest on—loans, mortgages, etc—are all passive income streams for the lender.   So now you're making money for your boss, paying your landlord, paying your creditors, and all of them are doing nothing while you do all the work! 

What these people are doing is completely legal and yet after you think about it in this manner, you're probably pretty ticked.  All of these people are leveraging your income, having you swim around in their passive income streams as money flows out of your pocket and right into theirs. 

Why are You In the Passive Income Streams and Not at the End of Them?

That's because these people have enough common sense to use their organizational, managerial and investing skills to leverage the labor of people, machines and software.  They understand that they can make more money by leveraging the work of others than they can through their own individual labor.  When you sell your time for money (active income), you are paying directly into someone's passive income streams.

And the more profitable their passive income streams become, the more the company grows and the more labor they can hire—essentially the streams get bigger and the cash flows harder.  And where are you in all of this growth?  Still slaving away for the same wages (or maybe they bumped you up a few dollars an hour over the past two years).  The point is, you're not making out here—you're just feeding your money into their funds.

How Do you Get Out of Other People's Streams and Into Your Own

shutterstock_98983808So what are you going to do about it?  Well, if you're smart, you'll realize that if you don't own your own assets and passive income streams, you're always going to be paying up stream to someone else.  So you generate your own passive income streams.  This might mean quitting your job and becoming a full time affiliate marketer.  This might mean buying instead of renting, or even better, buying and then renting to others.  This could mean instead of borrowing money, saving and investing in dividends and stocks that have surefire returns.

Whatever it means to you to stop paying into other people's passive income streams, it's certainly worth thinking about.  That's because when you direct the stream of money at yourself, you become in charge of your own time, your own finances and your own destiny.  You say good-bye to toiling away at hard labor for others and instead, work for yourself, as hard or as little as you'd like to.

Starting your own passive income streams means becoming a successful, independent entrepreneur.  It means taking risks that you've probably never taken before, solving problems that you've probably never seen before and living a lifestyle that you've probably only dreamed before.  Passive income streams can make you independent in a billion ways—you just have to have the gumption to step up to the plate and swing for the fences.

Making Money with Your Passive Income Streams

Now, you don't have to quit your job, move out of your apartment and start hiding from credit card debt right away—in fact, we suggest you don't do any of that (especially the last one, ever!).  Instead, it's time for you to just get a feel for how passive income streams work.  You see, that's the beauty of earning passive income—it is not time intensive.  You can set up some passive income generators while keeping your day job.  Then, when you feel that you have a firm grasp on the process and make enough money to quit your job, proceed to tell your boss where he can stick those daily reports.

But how exactly do you make money with your streams?  For that you'll certainly need a great passive income system, especially if you're just starting out.  A good system will not only minimize the amount of time and guesswork you have to put in, but will also maximize the revenue you pull out of your passive income streams.

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About

 The 1-Hour Workweek

  (60 articles)

I’m Tarence Wade, M.D. Even though I’m trained as a medical doctor, I’m also known as “the wealth doctor”. I teach network and online marketers how to save time, save energy, build health & happiness and create multiple streams of residual income…with my 3 step success formula. I have taken over 50 internet marketing courses. I have read and listen to many books and audiobooks…and I have attended at least a dozen seminars in the internet marketing space. I have spent the last 8 years, over 6,000 hours and more than 1.6 million dollars of my personal income as an online marketer figuring out a success formula that generates me multiple streams of passive income that works for me and that will work for you as well. And I’m here to show you how.

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