Passive Income - Isn't It Time?
A Bit Of A Buzz
Recently, I’ve noticed an increase in chatter regarding passive income, especially on Hive. Many are talking about ideas such as increasing their exposure to HBD, or even increasing their HP stake. Provided, HP does not really create passive income. However, in many ways, it is almost passive in nature. As @jongolson mentioned in a recent post, every 60 HBD staked yields a dollar in passive income every single month.
When you stop to think about it, that’s some serious motivation right there. Finding new and additional ways to slowly build one’s passive income is something that I am always exploring and expanding on. In essence, it’s a way of cloning or duplicating your efforts effortlessly. Passive income is essentially creating income for you that you would otherwise have to work for.
My motivation has always been: Imagine when your passive income surpasses your traditional income! In other words, it creates more income than you do working 40 to 60 hours a week. That’s a pretty sobering thought… and one that requires some serious thought and meditation in order to be fully appreciated. Passive income, coupled together with an effective compounding dynamic takes this already phenomenal idea to yet another level.
A Winning Formula
I think I have mentioned this before, but the majority of millionaires have multiple streams of income, and many of those are either passive or residual in nature. That income is then compounded further via additional investment strategies. Very few people become wealthy by working, apart from high-level CEOs and top-level executives. Most success stories are somehow related to creative income generation, followed by years of compounding.
The average person becomes wealthy by creating multiple streams of income and then applying different strategies of increase and multiplication. Financial independence does not arrive via a 9 to 5. If it did, the majority of society, across the globe would be wealthy. No, it comes by doing more, applying more… and then being as smart as possible in regard to increasing it even further.
Passive income is one of the few forms of income that actually provides a very high level of independence. It takes on a life of its own and gets to work producing income while the beneficiary is free from any form of physical or mental strain. Choosing to ignore the idea of passive income as part of any portfolio is a serious misjudgment, in my opinion.
Final Thoughts
When one begins to consider where we are in terms of Crypto’s cyclical nature, it’s a pretty good time to begin putting together a few passive income ideas. Remember, Crypto assets are soon going to begin appreciating again. Judging by the TVL levels across most of the DeFi-centered blockchains, investors are yet to begin deploying capital.
It’s definitely time to begin strategizing and analyzing, and possibly even executing. Some passive income ideas are void of market-related risks, meaning they can be embarked on regardless of the market condition. That being said, pretty much all passive income ideas have some sort of positive spin-off from a bull market. Here’s to the next cycle, and building that passive income portfolio!
Disclaimer
First of all, I am not a financial advisor. All information provided on this website is strictly my own opinion and not financial advice. I do make use of affiliate links. Purchasing or interacting with any third-party company could result in me receiving a commission. In some instances, utilizing an affiliate link can also result in a bonus or discount.
This article was first published on Sapphire Crypto.
Hbd and huge is going strong though there any have some dips, it doesn't go so low.