"I'm tired of making money"! Are you crazy? You may ask!
"I'm tired of making money." This sentence opens the article. Many people pursue success from the bottom of their hearts: “I am going to become rich”, “I wish to get a lot of money.”
Unfortunately, a majority of them end up failing. Some people work so hard but get nothing in return. While others can make it as far as success can take them. However, when life forces these people to do an evaluation they’ll see that they are gasping for air at the edge of success.
Chasing money is always accompanied with agony, stress, and anguish. It gives you sleepless nights and heart attacks, and could sometimes multiply your enemies. Despite all that, you may never make the money.
I also believe that wealthy people didn't get where they are by making money. I know this seems odd, but let me at least explain.
The understanding you have about getting wealthy determines how you go about chasing money. You cannot become wealthy by making money, you will only become weary. Making money is tedious and energy-sapping. Those who are wealthy don't do such, they don't make money, yet, they keep getting wealthy. There is a secret that we need to know about wealth building which successful people have mastered in building wealth for themselves.
What then is this secret?
Let me explain.
Instead of trying to make money, successful people prefer to invest their time in building a passive income. People normally take a job for the sake of making money and meeting their needs; however, the impulse to continue usually wanes when they face the heat of the job. Note that not every time spent working is well spent. Investing your time in building passive income could have huge returns and a long-term impact on activities you love.
You may ask again what is the difference?
Here it is. Making money is a one-time thing. Passive income is recurring or continues. While I was enjoying some spare time, I happened to read through some articles that provided valuable insights on passive income as well as its working principles. For instance, making money is just a phenomenon that comes and goes. Many people are looking towards passive income in order to find something that is not a burden.
We do many things to make money, to get rich, or to make that ‘big break,’ which can finally fulfill all our financial dreams. Making money is a one-time thing. And it may be enough to help us reach our short-term goals. But it won’t make us wealthy. We’ll need to start over and find new ways to make money, and it might not come easy either. No one can tell when another opportunity will arise for you to make money again. At the end of the day, you’re back where you started.
The problem we have is being too focused on making money. We may make a lot of money initially, but once we get tired or become lazy our incomes begin to dwindle. Our incomes stabilize when we take our eye off the ball. We find comfort in the stability it provides when we can make a regular income without much effort. And that is when we cross the line.
On the other hand, those who go for passive income can sleep in peace as their wealth keeps growing passively. Passive income is the only way to make money while you sleep. It is the woodpecker that is sustainable, the long term and the tree with low risk.
The question most of us carry in mind today is how we can make money while asleep. I know I am not alone in this, most of you reading this article are like me. We all want to know how to make money while asleep. The issue is that there are many ways to achieve this, and passive income came top among others for being the most correct and efficient one. It is a good way of making a living by just earning income on what you already have.
When you focus your time on building passive income, your earning might be slow initially, but they will add up over time. At times when you are not able to work to increase your passive income sources, your income may shrink but very slowly. That gives you enough time to take a breather and some rest, then, continue building your passive income.
There are differences between the two, money making is for the short term, while a passive income is for the long term. The urge to make more money is often coupled with desperate greed. It also creates a competitive tendency to outdo another man. It breeds greed in people.
An example of this could be found in Crypto day trading which is filled with emotions and greed. Making money will make you lose money because you are desperate to get the money. But, those who built a portfolio of assets for long-term capital will continue to earn money passively and effortlessly.
Making money is a desire to accumulate excess money. The amount of money you can accumulate is limited and finite and it can be quickly lost with poor judgment or when the markets dip.
The goal of making money is temporary. If you want to build a life of freedom and independence, then, work toward the creation of something that generates passive income. Something that will be sustainable and hopefully generate more than just the income you need.
So, which of the two will you go for?
For me, I am tired of making money, it's time to go passive. While you're focusing your time and energy on working for money, be mindful whether you are simply making money or building a passive income. Remember that making money will only satisfy your immediate goals, while a passive income will satisfy your life goals. Make your choice wisely.
So think of this as a pie. The direct, short-term gratification of making money is delicious. But the long-term satisfaction, the slow, continued growth of a passive income through a network of passive sources is ultimately the more delicious and fulfilling solution.
That's why I planned to withdraw my energy from the pursuit of making money and go all-in for passive income. For the next year, I am going to invest more time in self-development and improve my personal quality to work while expanding my passive income sources. Let us have a clear understanding of life, let the time run into a river.