The fact that planning is imperative to individual and national development cannot be over-emphasized. No one can experience growth in all areas of his/her life without planning.
Taking a view of what is happening currently almost all the countries of the world, we are facing financial challenges. We may call it recession, economic melt-down or economic crises, the fact remains the same.
This topic will be divided into five(5) parts for better understanding. In this part, I will discuss one of the importance of planning which I titled:
"Planning Helps You To Build Your Passive Income".
First and foremost, what is Passive Income?
Passive Income can simply be defined as the income that you generate from your assets and(or) property without you doing anything. In passive income, your money works for you.
Examples Of Passive Income:
There are several examples of passive income. I will just mention ten(10) of such. They include:
- Owning a house for rent.
- Invest in networking like TBC, Paydiamond, Crypto currency, etc.
- Invest in mutual fund.
- Being a business owner.
- Buying a franchise.
- Buying buses for commercial use.
- Buying high yielding bonds.
- Buying event equipment for rental services.
- Buying modern agricultural equipment like catapillar, bulldozer, harvesters, etc for lease.
- Network marketing system.
Watch out for part 2:."How can I acquire my asset(s) so as to begin to earn passive income".