Creating Active and Passive Income Streams After a Late Start

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That’s the predicament faced by the author of today’s Friday Feature just a few short years ago when she realized that it was time to get her financial house in order.

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Although she lives on the opposite side of the world from most of us, you’ll see that many of the challenges in Australia mimic those that we have here.

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Fast forward. The uncertainty is still with us. The lockdowns. Businesses unable to open and trade.

Creating Active and Passive Income Streams After a Late Start

Over the last year, my full time job oscillates between periods of intense busyness and boring nothing-to-do days.

Without question, my biggest source of income is the salary I earn from my full time job.

I define passive income as income I earn without actively doing something to generate it. Income that I earn while I’m sleeping.

If I don’t have money to invest in rental properties, I certainly don’t have any to invest in someone else’s business as a silent partner.

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Creating Active and Passive Income Streams After a Late Start

That’s the predicament faced by the author of today’s Friday Feature just a few short years ago when she realized that it was time to get her financial house in order.

Although she lives on the opposite side of the world from most of us, you’ll see that many of the challenges in Australia mimic those that we have here.

Fast forward. The uncertainty is still with us. The lockdowns. Businesses unable to open and trade.

Creating Active and Passive Income Streams After a Late Start

Over the last year, my full time job oscillates between periods of intense busyness and boring nothing-to-do days.

Why do I feel a need to increase my income streams?

Without question, my biggest source of income is the salary I earn from my full time job.

My active income

I define passive income as income I earn without actively doing something to generate it. Income that I earn while I’m sleeping.

What is passive income?

If I don’t have money to invest in rental properties, I certainly don’t have any to invest in someone else’s business as a silent partner.

So where does that leave me?

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