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Author Topic: When your passive income equals or slightly above your salary, what would you do  (Read 830 times)
Sterbens
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January 28, 2023, 06:30:22 PM
 #21

Not a few people do jobs they hate but they still do it, it's because they really need money every month. And now, people are willing to do anything as long as they can work and get paid. You are one of the lucky people, because you have a job (yes, even though you hate it) and you also get other income apart from your workplace and the amount is high and even equal to your salary. My advice, try to think about it if you give up your main job, if you think your passive income is enough to support yourself, then look at your family. You can help a lot with the money.

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January 28, 2023, 06:56:24 PM
 #22

If you were in my shoes, what would be the best advice you would give yourself and adhere to in this instance?
Many people do not like the Jibs they do, but they do it still because they have plans. You can decide to quit, but you have to be ready to face the consequences of your actions. Your passive income equals or slightly above your salary, combined together, that is your passive income and your salary, you are actually be earning a good sum to set up yourself well before you can decide to quit the job since you do not like it. Do not just quit to depend on your side income, the pressure will be much since you just lost another source of income which is your salary Job, improve on your passive income, before considering quitting your job.

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South Park
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January 28, 2023, 07:36:54 PM
 #23


I have been in a job I detested and although I somehow managed to stay at it for up to 4 years, I didn't even for once let go of my passionate hobby and other passive streams of income I was interested in at the time.
Today, one of my passive interests pays more than my salary. My mind has been yearning for a resignation, but opinions of others and family bears the message of patience with the job I so much detest for reasons ranging from inflation to fear of the unknown.

If you were in my shoes, what would be the best advice you would give yourself and adhere to in this instance?

You are one of the few people which so far is doing well despite the economic crisis we are still going through, so I would recommend that you do not quit your job so quickly, take the time to build more wealth, you can use the additional money from your job to open a business or to invest more on bitcoin or other assets, and then once you have accumulated enough money to settle all your debts while having yet another source of income then you can finally begin to think about leaving your job, besides depending on how expensive medical care is in your country it could still be a good idea to have a job which offers medical insurance.
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January 28, 2023, 07:55:11 PM
 #24


I have been in a job I detested and although I somehow managed to stay at it for up to 4 years, I didn't even for once let go of my passionate hobby and other passive streams of income I was interested in at the time.
Today, one of my passive interests pays more than my salary. My mind has been yearning for a resignation, but opinions of others and family bears the message of patience with the job I so much detest for reasons ranging from inflation to fear of the unknown.

If you were in my shoes, what would be the best advice you would give yourself and adhere to in this instance?

If you could still able to handle up your time well then i dont see a reason for me to quit my main source of income or day job if ever you are really that attached to it and even your side hustles had been making more than with your primary source.There are really moments which you would really be thinking up on resigning and would be focusing into that other source which it does really require or need up that proper realization and checking it out or trying to balance if its really worth on doing so or you had just been dragged off with your interest because you are earning more on the other side?
So it would be still boils down on where you do see that would benefit you out the most.

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January 28, 2023, 10:18:38 PM
 #25


I have been in a job I detested and although I somehow managed to stay at it for up to 4 years, I didn't even for once let go of my passionate hobby and other passive streams of income I was interested in at the time.
Today, one of my passive interests pays more than my salary. My mind has been yearning for a resignation, but opinions of others and family bears the message of patience with the job I so much detest for reasons ranging from inflation to fear of the unknown.

If you were in my shoes, what would be the best advice you would give yourself and adhere to in this instance?


Does this job of yours affect your passive interest? If no, I see no reason for you to leave your job. Most times it's always good to have a plan B to support your plan A. Diversification in life help to control poverty. Sometimes your passive interest may not pay then you work with your salary and vice versa.
 If yes, you may quit your job to focus much on your passive interest. Sometimes ones job may be the one hindering ones success. Here in Nigeria, most high paid private job will pay you but make you work tired for you not to think or procced with ones life.

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January 28, 2023, 10:25:50 PM
 #26


I have been in a job I detested and although I somehow managed to stay at it for up to 4 years, I didn't even for once let go of my passionate hobby and other passive streams of income I was interested in at the time.
Today, one of my passive interests pays more than my salary. My mind has been yearning for a resignation, but opinions of others and family bears the message of patience with the job I so much detest for reasons ranging from inflation to fear of the unknown.

If you were in my shoes, what would be the best advice you would give yourself and adhere to in this instance?


There is a saying that I uphold to this day, "love your job". if you like your job, then you will not be burdened with activities that become your routine. In the midst of the turmoil of the global economic crisis, it is difficult to get a decent job, let alone with an ideal salary. I don't have an answer that fits what you need, let alone provide a solution. however, suppose you should try to contemplate and think carefully. In your opinion, do you deserve to keep your job. if not, what is the solution. at least, before you decide to resign you have other options.

So what about your passive income, does the passive income you get meet all the needs you need. if I were you, I would look for something new according to the expertise I have. in particular, a job that matches my abilities. if not, there are various options that i can do and one of them is doing business. however, before that happened. I have to make sure, that I am in a secure and financially stable situation.

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January 28, 2023, 10:29:16 PM
 #27


I have been in a job I detested and although I somehow managed to stay at it for up to 4 years, I didn't even for once let go of my passionate hobby and other passive streams of income I was interested in at the time.
Today, one of my passive interests pays more than my salary. My mind has been yearning for a resignation, but opinions of others and family bears the message of patience with the job I so much detest for reasons ranging from inflation to fear of the unknown.

If you were in my shoes, what would be the best advice you would give yourself and adhere to in this instance?


I will be half hearted to resign too because I need to make sure that my family has enough fund to go with a normal living but still the decision is yours.  Having extra income is always good.  Besides if you leave your present work, that makes your income cut to at most half of your monthly earnings.  But if your mind is shouting "resign"  then it is in your own decision after all you are the one who detest your current job.  Just make sure if you plan on resigning that your part time job earnings will stay in long-term and not just a kind of earning where the income isn't consistent.
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January 28, 2023, 10:29:25 PM
 #28

If you were in my shoes, what would be the best advice you would give yourself and adhere to in this instance?


It appears that you may be using the term "passive income" incorrectly in this context. If the income truly requires no effort, it would be wise to maintain current employment and use it as supplementary income. Keep it as a little side hustle. However, if the 9-5 grind has got you down, it is time to break up with your job and find something more fulfilling. Life is too short to be stuck in a job you cannot stand.

By the way, I hope you're not talking about earning income through signature campaigns on this forum. Keep in mind that it is not a sustainable source of income in the long term.

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January 28, 2023, 11:23:35 PM
 #29

I'd definitely continue both my job and that passive income as long as I can, and as long as I'm not tired. This is a dilemma to many people; just because you are quite earning with a particular investment, you'd already settle with that. Best thing to do is to maximize your capabilities when you are still young right? I get the point of resting and working smart but hardwork still should matter. If you'd settle with one source of income, it won't always be sustainable on your end's expenses. Not unless your passive income would consume most of your time and will be needing more of your attention and focus. That would be the time to stop with your job IF that thing which you will more engage to, will compensate for what you gave up as well. Never settle for less.

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January 28, 2023, 11:37:26 PM
 #30

I can't "technically" retire. I mean sure I could if there is enough money for me to retire from the passive income if I am making from it, if that's the question. But I can't "technically" retire, because doing absolutely nothing is not really something I can do at all, because it is not in my nature. I am not a very physical person, I do not like to get out of home, so it would be something from home. Considering I am already a content writer at my job, and I love my boss, that means why would I quit my job? I mean I need a very valid reason to quit my job, sure if I have like 10 million dollars one day, I would probably do something else, but enough to just be slightly above my salary? I would not quit at all, I would keep working and earn 2 salaries basically Cheesy

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January 28, 2023, 11:49:51 PM
 #31

I am also in the same position as you, my passive job has a much lower salary than forum work and some of my online jobs but I did not decide to resign from a real job, because for me the job is guaranteed to get a passive salary every month even though it is relatively salary low but I am very happy when I accumulate all the salary from my job every month.

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Wakate
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January 28, 2023, 11:53:49 PM
 #32


I have been in a job I detested and although I somehow managed to stay at it for up to 4 years, I didn't even for once let go of my passionate hobby and other passive streams of income I was interested in at the time.
Today, one of my passive interests pays more than my salary. My mind has been yearning for a resignation, but opinions of others and family bears the message of patience with the job I so much detest for reasons ranging from inflation to fear of the unknown.

If you were in my shoes, what would be the best advice you would give yourself and adhere to in this instance?

Because your passive income pays more your regular job so you want to resign so you can have the time to relax and stay indoors without doing anything? I know sometimes you might be tempted to resign but you will need to think twice or else you might have to take a decision that might not pay you in a long run.
Anything you are doing now you will need to think twice so that you will not make a mistake that would affect you in a long run that is why you need to ask questions so that you current decisions will not bounce against you later.

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January 29, 2023, 01:41:21 AM
 #33

Having a career is a blessing, especially if you enjoy and care about it. Financial stability can be achieved throughout your life by having a passive source of income in addition to your profession. To answer your question, even if my passive income is equal to my salary at work, I won't quit just yet. I need to make sure that my passive income will enable me to accumulate more assets for my future.
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January 29, 2023, 02:55:13 AM
 #34

You should ask yourself first if your passive income is stable enough. As if it will take you four years and it will not go down? I was in your shoes 5 years ago, and I want to resign from my job because it's toxic, but I'm also making a lot of money from my side hustle, so if I resigned at that time, I'd be struggling because I lost my side hustle. You are done comparing your earnings, so now you need to compare them to see if they are stable, because if you resign and your passive income could possibly go down in a year, then resigning is not a good choice. Though I understand that you are tired of your current job, but it is also an extra source of income .
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January 29, 2023, 04:26:49 AM
 #35


I have been in a job I detested and although I somehow managed to stay at it for up to 4 years, I didn't even for once let go of my passionate hobby and other passive streams of income I was interested in at the time.
Today, one of my passive interests pays more than my salary. My mind has been yearning for a resignation, but opinions of others and family bears the message of patience with the job I so much detest for reasons ranging from inflation to fear of the unknown.

If you were in my shoes, what would be the best advice you would give yourself and adhere to in this instance?

You are one of the few people which so far is doing well despite the economic crisis we are still going through, so I would recommend that you do not quit your job so quickly, take the time to build more wealth, you can use the additional money from your job to open a business or to invest more on bitcoin or other assets, and then once you have accumulated enough money to settle all your debts while having yet another source of income then you can finally begin to think about leaving your job, besides depending on how expensive medical care is in your country it could still be a good idea to have a job which offers medical insurance.

Exactly, if I was in OP's case, I would also try to maintain 2 jobs for double income. Not only in the current crisis but we need to prepare for the future, for the long term because unexpected things always happen in life. OP is lucky to have 2 sources of income at the same time, he should take advantage of it instead of giving it up.

OP, I want to ask you, would you be more comfortable having $1000 per month or would you be satisfied with just $500 per month? As long as you can answer this question, I think you will make the best decision for you.

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January 29, 2023, 05:43:24 AM
 #36


I have been in a job I detested and although I somehow managed to stay at it for up to 4 years, I didn't even for once let go of my passionate hobby and other passive streams of income I was interested in at the time.
Today, one of my passive interests pays more than my salary. My mind has been yearning for a resignation, but opinions of others and family bears the message of patience with the job I so much detest for reasons ranging from inflation to fear of the unknown.

If you were in my shoes, what would be the best advice you would give yourself and adhere to in this instance?

My situation is the opposite of yours.  I have been with a job for a company for more than 4 years, I am interested and dedicated, and stick with it and get some results, increase the bonus, not the position.  I'm also not associated with passive income types, so it would be lame to give you advice.  However, assuming I am in that situation, I will continue to develop that type of passive income further and in due time I will resign from that hateful job.  My reasoning for that is that the job you already hate and hate is not going to get you anywhere or be more successful, and sticking with it will only bring negative psychological effects and the stress that comes with fatigue.  can cause you to have many diseases if prolonged.

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January 29, 2023, 05:45:33 AM
 #37

If you were in my shoes, what would be the best advice you would give yourself and adhere to in this instance?

If you don't like your job you can try quitting as long as passive income is secure and not the only thing you depend on.

That is to say, if the passive income you have comes from a single house that you have rented, I would see it quite risky because the tenants could leave and you could take a long time to rent it again, although you could also consider selling it but you would be killing the hen and running out of eggs. Or maybe you live in a country where evictions have been temporarily banned for 6 months, that would be another problem, to go without pay for at least 6 months and whatever it costs to kick them out depending on the judicial system where you live.

You don't specify more but although it depends a bit on the situation, that your passive income pays your expenses is the level at which you start to consider that someone is financially free, therefore, once you have analyzed the other variables, you can take the leap.

If you quit your job, take advantage of the time to do other things that you enjoy more and that can make you money as well.


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January 29, 2023, 06:59:22 AM
 #38

I have been in a job I detested and although I somehow managed to stay at it for up to 4 years,
1. You have worked there as your home  4 years. In my opinion, there will be a certain amount of memories and familiarity. Can you trade that damn job and any more familiarity/memories there? And secondly, are you ready to think about work or completely guarantee your ability in another unfamiliar environment? You can answer it to make the right choices.
2. Will your passive work be sustainable in the future? it is certainly an important reason to come to the final decision.
3. If I was in that situation, even I would have resigned < 1 year. Lol, I really can't stand the damn thing around me when I work.

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January 29, 2023, 07:31:16 AM
 #39

You should note something very important about life, all income must not be the same, you can't expect your salary to be equal to your passive income or your passive income to same as your salary. For me I don't only depends on my business rather working from various sources to add up to my living.
What detects a man is the total money coming together as income at the end of month or week and days. Multiple stream of income must not be the same rather is an added value to your life to relief you from financial stress. So you can also add additional source of income rather quiting one for another.

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January 29, 2023, 08:38:38 AM
 #40

I would quit your job but for search of new one. Passive income is not always stable, and it will be better to spend your free time to find new ways of making money
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