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Are you managing your time well Part 2

Posted by Francis Isberto | Labels: | Posted On Monday, March 29, 2010 at 11:53 PM

Imagine yourself in a place like this.... No traffic, no rush hour, no hassle, and no pollution. This is an escape from your every day routine life. It's just you and mother nature. A perfect spot to relax and unwind, along with your favorite book at your side and with your favorite drink to replenish your thirst of the scorching heat of the sun.
You get to feel the wind as you place your naked feet under the powdered crystal beach sand. And as you doze off you say to yourself that "Wow! this is what you call life".

Okay, now wake up and get back to reality. Your now back to your real world where you have no choice but to do what almost everybody is doing year after year.... working hard.
Nothing is wrong with working hard but like I said in my previous article that it is better to work smarter than work harder.
With working harder you get the chance to go to the beach only and just only on Holy Week, All Saint's Day, Christmas Season, and all the legal holidays that we have. That is just a few.

But with working smarter, you could stay at that beach for a month and not worry on your monthly revenue and expenses. How is that possible? Simple... the answer is creating Passive Income for yourself.
With Passive income you let your money work for you and not vice-versa. Here is an example: Let's just say that your a bank executive in one of the top banks in our country. The company pays you well but still you are not contented with your work. Why? Because of the "No work No pay" system. Your earning great but your losing time with yourself, your family and your friends.

You start to notice that you're living inside a close box. You start to think on how to re-live your life and create more time for yourself. Then you decided to create one passive income for yourself. You invested some of your savings in Real Estate. You bought a foreclosed property and converted it into a dormitory since the infrastructure is near to the school.
Let's just assume that the normal rental fee in one room is Php 3,000 and you got 40 units in your building. So that's a total of Php 120,000 in a month. Not bad for a passive income huh!

Plus you offered the ground floor of your building to Pizza Hut and Starbucks where they pay a rent of Php 50,000 each. That's an additional of Php 100,000. All in all you got a gross income of Php 220,000 a month.
You may now have a privilege to resign your job and continue adding your passive income streams.

Now the scene of you lying on the beach will now come into a reality and you now have the option to enjoy your stay on your favorite vacation spot for as long as you want. Your passive income stream is working hard in order for you to enjoy life at it's fullest. Wouldn't you want that?

Passive income comes in many ways, there is business and entrepreneurship, real estate, stocks, mutual bonds, forex, etc. As long as you don't have to spend your time then that is qualified as a passive income stream. How will you do it? It's totally up to you. Just remember that you don't have to quit your job to start your passive income streams. Keep your job while you slowly build your passive income.
When you notice that your passive income is bigger than your active income (salary) then you have a choice on what to do with your life.

Like you I'm also striving to create passive income for myself. So far I only have one, so my dream of staying much longer on my beach paradise is still a work in progress. But I already started my engine and I'm sailing my way to my goal.

How about you? What is your dream?


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