Creating Your Dream Lifestyle With Passive Income

Creating Your Dream Lifestyle With Passive Income

 Every person has a dream of how they would live their life if he did not have to spend a large amount of his time working. Most people rely on earned income to support their finances. This makes a dream lifestyle very difficult to live since it requires both money and free time. By creating passive income to replace earned income, people can focus on living their dream lifestyle.

Passive income is defined as income that does not require time for each dollar that comes in. This is in contrast to earned income, where workers spend time working for a set amount of money. Earned income is usually more predictable, since wages are paid based on a given amount of work. Passive cash flows tend to fluctuate more. The main advantage of passive money is that it requires little time to maintain.

There are many sources of passive income. Rental¹ real estate, book royalties², and network marketing³ residuals⁴ are just a few examples of passive income. When setting up a plan to create passive cash flows, it is wise to employ several passive streams.

Passive cash flows take time to build up. As you are building up, you can use the additional money to pay down personal debt. This allows you to decrease your monthly expenses, which decreases the total amount of passive income you need to live your dream lifestyle.

After you create your plan, it is very important to be patient. You will likely not earn large amounts of money in the beginning. Remember that you will make your money over time. Be sure to stick to your plan and don't lose sight of your dream lifestyle.

1 rental   

n.租赁，出租，出租业

参考例句：

• The yearly rental of her house is 2400 yuan.她这房子年租金是2400元。
• We can organise car rental from Chicago O'Hare Airport.我们可以安排提供从芝加哥奥黑尔机场出发的租车服务。

2 royalties   

特许权使用费

参考例句：

• I lived on about £3,000 a year from the royalties on my book. 我靠着写书得来的每年约3，000英镑的版税生活。 来自辞典例句
• Payments shall generally be made in the form of royalties. 一般应采取提成方式支付。 来自经济法规部分

3 marketing   

n.行销，在市场的买卖，买东西

参考例句：

• They are developing marketing network.他们正在发展销售网络。
• He often goes marketing.他经常去市场做生意。

4 residuals   

剩余误差

参考例句：

• In some cases residuals from these arrivals will stack up to give nearly horizontal alignments. 在某些情况下，这些波至的残余会叠加在一起给出近于水平的同相轴。
• Strong oscillations can occur in the residuals as the number of terms is increased. 随着次数的增加，剩余时差会发生强烈的摆动。