Not investment or financial advice. This is not an endorsement or recommendation to buy, sell or hold. The staff of this site may own the asset/s mentioned on this page. Investing is risky and you may lose all your capital. Do your own research. See full disclaimer.
We receive no direct payments from the mentioned companies. Some links on this page are affiliate links, at no extra cost to you, we may receive commissions when you use them. However, we try our best to keep our articles fair and balanced.
Passive income creation is a life long journey; it provides a structured short-cut to early retirement and financial freedom. Financial freedom allows you to enjoy life more. You can choose with whom to work when to work and where to work. Establishing a portfolio of passive income assets is a lifelong work. It requires you to be hungry for information and knowledge. Financial freedom takes more than a few great financial decisions important key decisions in your life will have an indirect impact on your financial freedom journey.
Learning the passive income ropes takes time! Learning is an ongoing process, and passive income investing is an active activity! Reading the right books, the right blogs and having the right mentors. It takes time to find a philosophy which suits your skill set and style.
If your route to financial freedom will be taken through entrepreneurship then starting early allows you to fail fast and recover quickly. Failing a few times in your twenties will not have any long-term repercussions. Failing in your 40s could destroy financial freedom dreams.
The passive income space is constantly changing. (crypto has tipped this asset class on its head). There are many opportunities and traps for passive income in this space. One thing which has reminded ta key constant is picking the right dividend growth stocks.
- Passive income from Dividend stocks and bonds
- Masternodes, Upcoming Masternodes and Low Cap masternodes
- Revenue generating tokens and their Tokenomics
Big Life Decisions will stay with you throughout life
Financial freedom is an achievement few achieve. This is because there is more to financial freedom than just money. It takes delay gratification, good relationships, good education and the right emotional intelligence to take the journey.
Making good decisions financial decisions is the tip of the iceberg.
A lot of support is needed to make those good decisions. If your life is a chaotic tangle, then it will be hard to sit down and focus on the next passive income asset to buy.
Conscious frugality in addition to a good career or business early on will also provide you with the seed capital needed to buy your first passive income assets. Eventually, with the power of compounding passive income assets serve as the founding nodes for other others (hence the name of the site nodesofvalue.com)
Health is the sum of many small decisions. The longer you live the longer you can harness the power of compound interest.
Starting the Passive income journey
Starting early in your teens and early 20s makes a huge difference, but you can really start at any point in your life. The key elements of a passive income portfolio are:
- Experience: The more experience you have the better you will be at making the right decisions. Experience will help you make the right decisions in terms of the risk-reward ratio. Economies of experience will give you the wisdom to balance between jumping on the next hot trend and investing in companies that provide essential services that will never go away.
- Compound interest: Each passive income asset will create streams of revenue which will finance new passive income assets. They can also be used as collateral to borrow money to finance other passive income projects.
- Accumulation: Starting early is the key. The earlier you start, the more ingrained will your passive income habits be. The more passive income assets you accumulate the easier it will be to diversify and shield yourself from risk
Read more: Passive income books
Financial Freedom allows you to set your priorities. There is more to life than just to be a financial provider. Passive income has its pros and cons. The endless rat race is one way of living, but there are alternatives. Living a healthy life, surrounding yourself with good people and putting in the time to learn about investing will increase your chances financial freedom success.