Identifying Streams of Jobless Income
A happy jobless life comes when a person has built streams of income that sufficiently support his lifestyle. Anybody desiring such a lifestyle needs to have a sort of "built-in antenna" that allows him to identify such streams of jobless income.
Not every opportunity offered to you is likely to be a stream of jobless income.
You must learn to differentiate between opportunities that will likely earn you money, and those that will lose you money.
There are numerous ways to earn a living, online as well as offline. To create a stream of income, what you need is to create for yourself an "asset". By that, I mean something, anything
that will earn you money. What's an asset? If you have a house and you collect rent from it, that's your asset. If you have a house and you pay mortgage to it, that's your liability. An asset makes you more money than it takes from you.
The rule of making money without holding a job is so simple: multiply your assets
(that is, increase your streams of income), and reduce your liabilities
(cut down on your expenses).
In my case, my websites are my assets. I have over sixty different websites today. Each of them earns me a small amount of income, which added together, is sufficient to earn me a living. If you wish to earn the same way as I do, create useful websites that help people. The best websites are those that solve people's problem, whether providing them information for their holiday, or in the case of this website, helping them become self sufficient without holding a job.
Another stream of jobless income is investment. This can be in the form of stocks or property. In the case of investment, you would do well to increase your knowledge before putting in your money. Remember this: a wise person does not part with his money easily, and he never takes unnecessary risk. If you are not sure whether the investment will make you money, do not put your money in it.
Many people do not consider putting money in the bank as creating a stream of jobless income. While it is true that inflation tends to erode the value of our money, we should always remember this: despite inflation, it is better to put your money in the bank than to spend it on an unnecessary purchase. Secondly, if you have to choose between putting the money in the bank or making a risky investment, if you are not fully clear how the investment will turn out, putting the money in the bank is usually the more sensible choice.
The value of putting money in the bank as a form of investment should not be overlooked. A great beauty about savings is compounded interest. Compounded interest is when your money makes more money without your further intervention. This should be your safe choice in creating a jobless income stream. Let money make money for you, and free yourself from having to use your own energy and time to make money.
Is it a good idea to incur credit card debts? It all depends on how discipline you are over the use of credit cards and the type of purchasing you are making. As a person who is keen on building streams of jobless income, I would recommend that you avoid any credit card debts if ever possible. I'm not saying you shouldn't own credit cards, rather you should use them wisely. When choosing a credit card, it is also prudent to shop around, comparing the interest rates of charged by different banks. Any about that you are able to save helps you reduce your debt.
There are many opportunities to make money without holding a job. When identifying different steams of jobless income, I prioritize on the following:
- Those within my expertise
If I don't understand it, I don't touch it.
- Low in risk
I am one to prefer earning an income slowly and steadily than to risk losing the money already in my hands.
- Minimal use of my time and energy
I prefer creating assets that make money 24 hours a day, 7 days a week, without my supervision or attention. I stay away from activities that consume my time. My time is precious and limited, I want to stay happily jobless.
I hope the advice I have given you above will be useful in helping you identify your own stream on income. Wishing you all the best!
Copyright © 2007-2017 Timothy Tye. All Rights Reserved.
Thank you for visiting my website, Happy Jobless Guy. I create it in November, 2007, two weeks after I left my job in the corporate sector. It is to celebrate the alternative lifestyle that I have embrace. I told myself back then, that as long as I am able to continue supporting myself, I will never return to holding a job. Well, so many years later, thanks be to God and my family, I am still happily living this alternative lifestyle.
My name is Timothy Tye
, you can call me Tim. I am a full-time website author. My main website is called Penang Travel Tips
. I created it to satisfy my curiosity about places and sights around me, and it has grown to become my main income earner. To know more about me, go to www.timothytye.com
As a Christian, I hope that through this website, I am able to deliver God's Good News
to people all over the world. And finally, if you wish to contact me, please submit the contact form
. Thanks again, don't forget to follow me on Facebook