Whoever has said that generating passive income is easy, is telling you a lie. Generating the passive income stream needs a lot of hard work as well as discipline and even though you do this for a long, there is no guarantee that you will succeed. There are thousands of people doing the same thing (trying to generate a passive income stream) like you but only a few (only a handful) succeed. These people might have done something different to succeed or they might have faced a lot of failure before succeeding, no one knows. But the fact of the matter is, creating a truly passive income stream is hard.
We all want to attain financial freedom and thus for doing so we have to have enough passive income streams which can cover our living expenses. But today if you start anything, you either need a lot of capital or it might take years to actually get that passive income flowing. A lot of people are saving 80% of their income so that they can retire early and that is also not feasible for the masses because since the living expenses have increased, it's hard to manage it with just salary. So today the situation is hard and attaining financial freedom is a distant dream for many. Whatever is been portrayed by people out there is just to gain more views or followers but actually, it works only for a few and not for many.
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Now traditionally generating passive includes, generating income from the investments like dividends, rental income, fixed deposit interest, creating online courses and ebooks etc. But as I said earlier creating those either requires a lot of money and capital expenditure or either you should be very lucky so that you can sell your courses with ease. We all know that generating passive income is a slow process and it takes years or even decades to get some passive income from your investments, so attaining financial freedom just from them is not at all feasible.
One of the things people are doing is increasing their salaries so that they can save and invest more. But again for this also there is a hard limit, you cannot earn a lot of money otherwise you are prone to layoffs in times like these. For people like me, Hive is actually helping me to generate passive income but again I cannot say that it can help me today to give me financial freedom. I have tried a lot of things, like generating websites to get advertising money, dividends stock, and mutual funds but looking at those numbers, it is just not giving me the feeling that I can retire early.
Generating Passive Income on Hive is actually much easy than something out there. I am not saying it is huge but again, like for me I am able to generate $5 per day which is again not huge but it is again passive and thus helps me in the long run. And let's not forget the 20% interest on HBD which also helps me to generate around $0.5, so overall it might be around $6. A lot of people might be earning more than this as well as less than this but the point is you can actually earn on this platform from Day 1 rather than hustling for years and getting pennies. For me it took 5 years to get to this level and thus hopefully I can push myself to the next level.
Just like in any passive income stream, on Hive too we have to be consistent, hard-working and do connect with other members. So, yes generating passive income is hard, but Hive makes it relatively easy for a lot of people.