Learning about passive income forever changed my working life, and the way I think about money. We’re taught in school from the time we are young to go out and get a good job so we can work for someone else for our whole lives. No one ever teaches us how to be entrepreneurs and investors.
Why I’d rather earn passive income than work hard at a high paying job
Early in my internet marketing endeavors, I read about how an online multi-level marketing expert got his start. He quit a high paying job in the computer industry and took a job as a waiter. Why on earth would he do this? He wanted more time to work on starting his MLM business. See, his job required a lot of time, responsibility, and emotional and mental energy. If he had tried to start his MLM opportunity while staying at his job, the building process would have taken a lot longer. Because he chose this strategy, he was able to start his business in the shortest amount of time possible. He understood that he was sacrificing a high paying job in the short run in order to create a high paying asset that generated passive income in the long run. Because he was building his business online, he was able to build it in a relatively short amount of time compared to businesses built in the offline world, but that’s the subject for another post.
I’d rather work hard now than work most of my life.
If you’re reading this post, you’re definitely an entrepreneurial person, like I am. We’re definitely of a different breed. People often wonder why others work so hard at building online businesses. They wonder why these entrepreneurial types spend so much of their free time working on something that takes so long build. The answer is a little complicated, but I’ll attempt to shed some light on it.
Robert Kiyosaki (author of “Rich Dad, Poor Dad”) says that most people enter the work force with the traditional Industrial Age mindset regarding wealth creation. They think they need to go out and get a job, save and invest money, and hope for the best. Yeah, I’m sure people who lost half of their 401Ks due to the recession were hoping for the best too. Most people just assume that they will have to work for the overwhelming majority of their able-bodied lives. Well, it doesn’t have to be that way.
Do you know how many people in the MLM community refer to a job? They call it a “J.O.B.” (Just Over Broke). And unfortunately, for the vast majority of working Americans out there, that describes their economic situation in life. Many people have a huge amount of credit card debt and are living paycheck to paycheck. For most, it’s a dream to have one month of expenses put away in their savings account for a rainy day. Most people who rely solely on their job to earn and save money feel like they’re walking up a never ending hill. Trying to pay back debt and invest with after tax dollars is extremely difficult, and I could write an entire other post on this subject.