Ash Blankenship

March 11, 2021

A note about passive income

An old friend of mine who claimed he could read palms once looked at my hand and determined that I did't like working. His palm reading abilities were partly correct.

I enjoy creating and working on projects; what I don't like is the concept of work as it is defined today. Office politics, the 9-to-5, water cooler gossip, the traditional office setting. None of these appeal to me.

What I do enjoy is helping clients become more successful by using my skills to help their companies. But between these projects, I've been working to build a steady stream of passive income. And I'm grateful for it!

Creating passive income not only helps me stay afloat financially so I never have to worry about returning to a traditional office, it is more predictable even when the economy experiences a downturn. In a nutshell, passive income allows me to be prepared for uncertainties. 

What does it take to create passive income?

There are many methods for creating passive income. Some of the most popular include writing and self publishing a book or books, developing an online course, or creating a blog or a YouTube channel (though the latter two require thousands of followers and could take years to start generating income). You could also make investments such as purchasing stocks that pay dividends (though this requires a large up-front investment).

While passive income is income that is generated while you are not working, all methods require up-front investments of either money or time; mostly time. Writing a book could take months or years, and creating a course could take weeks or months. And you won't make any money while creating these revenue streams. But that doesn't mean you shouldn't start.

By making sacrifices today, we can set ourselves up for a bright and prosperous future. And maybe we'll never have to step foot in an office again.

Here are some additional resources to help generate passive income.

The 4-Hour Workweek by Tim Ferriss
Side Hustle by Chris Guillebeau

How to Earn Passive Income: 8 Ways to Get Financially Free, T. Harv Eker
What is Passive Income and How Do I Build It?, Dave Ramsey