Every person who had achieved financial freedom almost certainly have at least one stream of passive income.
So you may have wondered what are the characteristics of passive income which gives you financial freedom?
1) Its nature
All forms of passive income are exponential. It leverages on a model to allow for an exponential increase as time goes by. For example, returns from investments compound over time as profits are reinvested back to achieve a greater return. A business can expand infinitely as it leverage on network to generate greater sales. It is different from a salary where your income grows in a linear fashion.
Making more passive income doesn’t necessarily take you more time. Because of its nature, you can be sure that your passive income stream grows without you spending more time and effort on it. Finally, it goes on autopilot mode and you repeat the whole process of building another stream of passive income in another endeavour.
It takes faith and discipline to build a stable source of passive income, but the rewards are worth the fight. Here’s a guideline to it: