If you didn’t have to work and money kept flowing to you month after month, what would you do with your time?
Would you play video games all day or do drugs or sit around watching TV and eating?
I actually found it pretty difficult to succeed in creating passive income until I was able to answer these questions seriously.
My answer changes from time to time, but the core is that I want to spend my life growing, creating, and sharing. I want to keep adding something of value to the substance of the universe. Whenever I keep doing that, regardless of how much money I’m making, I feel happy and fulfilled.
The irony is that if you answer this question honestly, you’ll probably come up with something that you could just as easily do when you’re broke, although perhaps not at the same level.
Because of my passive income streams, I can afford to be really lazy if I wanted to. I could sit around doing nothing for weeks on end, and my bills would still be covered.
For some people this may sound like paradise, but it presents its own challenges. If you’re not careful, you could easily slide into a serious depression in this kind of situation. People receive a lot of fulfilment from work, but if you no longer have to work, will you still be able to motivate yourself to tackle new challenges, or will you do little or nothing because you can?
Many people have created passive income streams that cover all their expenses, and they ended up depressed and listless. Some try to keep the treadmill going by creating even more passive income streams, but their hearts just aren’t in it, and they eventually burn out.
Our goal is to find multiple income streams, and the more passive the better.