Posts tagged passive income
3 Ways to Achieve Financial Independence

There are only 3 ways to achieve financial independence

BUT before we get into those 3 ways, let’s first define financial independence.

Financial independence is independence from having to engage in active income. It means you have enough wealth and passive income to live without actively working.

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Multi-Level Marketing as an Alternative Income Source

There are a ton of different ways to make money outside of a 9-5. Now, more than ever, people are taking advantage of these non-traditional avenues. A popular avenue that I’m sure you have noticed is multi-level marketing. For those of you not familiar with that term, I’m referring to all the companies like MaryKay, BeachBody, LuluRoe, LipSense and many others. It seems that our social media platforms are becoming more and more filled with our friends selling products for these companies. So, I wanted to dedicate a little mini-series on multi-level marketing as a means to a non-traditional income.

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A Basic Breakdown of the Income Spectrum

A big part of designing your life is understanding the different types of income and deciding which is right for the lifestyle you want. I find it’s best to work backwards. Start with what your ideal lifestyle looks like. Next, determine what financial situation you need to live that type of life. Finally, decide what type of income you’ll need to make that happen.

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Buying A House at 24 + Making An Income From It

In May of 2016, at 24 years old I bought my first property while making a little less than $50K a year. Following the purchase of my house I was promptly congratulated by friends and family and you can bet my parents were bragging to whoever would listen. I had friends say “man, I really need to get my life together, you already have a house!” The purpose of buying my house was not to check a box on the long list of societal expectations.

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