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Author Topic: When your passive income equals or slightly above your salary, what would you do  (Read 821 times)
Cryptomultiplier (OP)
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February 05, 2023, 09:38:49 PM
 #101

The great comments I have read so far has given me a better outlook about making and living with the reality of such a decision, should I happen to go through with it. 
I have come to understand and believe in the prospects cryptocurrency has to offer and with much knowledge and a family of like minds,  it is my wish to find great opportunities that would be beneficial to the fulfilment of my dreams/purpose and  finance.

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February 05, 2023, 09:43:31 PM
 #102


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 was advised by my mentor not to quit my main job until your side hustle requires a whole week of time and can serve you for a number of weeks with the same demand and more profits.
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February 05, 2023, 09:59:15 PM
 #103


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?

Find a good job first that will replace your old hated job, one that also promise a good compensation, then you can leave your old job. And never settle into a single side hustle, if you think you can do more with your time availability, go for it as long as you have your high interest on it and you have the skills to make it more productive. Having a passive income is good, but in order to sustain that, you have to keep learning and developing your skills so that you will keep the productivity in your job and that will make you progress in the long run.

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February 05, 2023, 11:20:16 PM
 #104


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?

Find a good job first that will replace your old hated job, one that also promise a good compensation, then you can leave your old job. And never settle into a single side hustle, if you think you can do more with your time availability, go for it as long as you have your high interest on it and you have the skills to make it more productive. Having a passive income is good, but in order to sustain that, you have to keep learning and developing your skills so that you will keep the productivity in your job and that will make you progress in the long run.
in many case people - choice in this case would be to quit their  job, and give time to the passive income idea - but I'm not saying you should do that.
But that is totally on you what is making you happy. if your passive income makes you happy then you can quit your job and work on it on the own

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February 05, 2023, 11:23:53 PM
 #105


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?

Find a good job first that will replace your old hated job, one that also promise a good compensation, then you can leave your old job. And never settle into a single side hustle, if you think you can do more with your time availability, go for it as long as you have your high interest on it and you have the skills to make it more productive. Having a passive income is good, but in order to sustain that, you have to keep learning and developing your skills so that you will keep the productivity in your job and that will make you progress in the long run.
in many case people - choice in this case would be to quit their  job, and give time to the passive income idea - but I'm not saying you should do that.
But that is totally on you what is making you happy. if your passive income makes you happy then you can quit your job and work on it on the own

If there is assurance that the passive income will continue to be high then it is ok to think further to leave the job and focus on it completely. We can't have such an assurance with most of the passive income. For this reason it is good to have the job and keep the passive income continue as now. If not, investing the income out of passive job on something else for further revenue seems to be fair.

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February 05, 2023, 11:33:25 PM
 #106

The great comments I have read so far has given me a better outlook about making and living with the reality of such a decision, should I happen to go through with it. 
I have come to understand and believe in the prospects cryptocurrency has to offer and with much knowledge and a family of like minds,  it is my wish to find great opportunities that would be beneficial to the fulfilment of my dreams/purpose and  finance.
You're not alone with that wish. We're all hoping that someday that we'll be working to the job that we want and as much as we want it, that could be related to the crypto market.

The purpose that we have depends on our outlook and what we're trying to achieve, if it's going to be your passion that you've got a purpose as why you've entered into this industry, you'll be eventually going to find it out.

We're just going need sometime in finding all of those and hopefully that we meet all the desires that we want while we're here.

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February 05, 2023, 11:43:29 PM
 #107


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?

Find a good job first that will replace your old hated job, one that also promise a good compensation, then you can leave your old job. And never settle into a single side hustle, if you think you can do more with your time availability, go for it as long as you have your high interest on it and you have the skills to make it more productive. Having a passive income is good, but in order to sustain that, you have to keep learning and developing your skills so that you will keep the productivity in your job and that will make you progress in the long run.
in many case people - choice in this case would be to quit their  job, and give time to the passive income idea - but I'm not saying you should do that.
But that is totally on you what is making you happy. if your passive income makes you happy then you can quit your job and work on it on the own

If there is assurance that the passive income will continue to be high then it is ok to think further to leave the job and focus on it completely. We can't have such an assurance with most of the passive income. For this reason it is good to have the job and keep the passive income continue as now. If not, investing the income out of passive job on something else for further revenue seems to be fair.
that is one valid point - the assurance part - which in not at all in the hand of person. During Covid - how a lot of successful business fell and how the mask making companies got the boom - sometime nature too is playing with us

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February 06, 2023, 07:59:51 PM
 #108

Before leaving your current job and go full-time with your passive income you should consider the following factor:

1.  Your financial stability.
2.  Your passion
3.  Your work balance.

If you feel that your passive income can bring you financial instability then by all means you can leave your current job.
If your passion for work states otherwise (just like you say @OP that you detest your current job) unless the first factor is met then by all means you have to endure your current job.
If should also be aware if your current job has a bad impact in your health.  If it is then better quit your current job than your life quit for you.
As long as your own job is not healthy for you anymore because you endure too much stress already, then better leave it for good. For all we know, there are better jobs out there that are less stressful even if the compensation is not that high. Besides, having said that you are already making a passive income from your side hustles, then make it more even progressive and always do the things that will help improve your skills. At least, you have your own new stable job, plus your effective side hustles that are making your life more comfortable to live with.

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February 06, 2023, 08:55:29 PM
 #109


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?


It absolutely depends on the circumstances and how much additional work your "passive" income entails. Some people call things passive income when they are not quite auto-pilot but they are very lightweight bits of work that don't add much stress to your week. You must also remember that depending on what your passive income is, it can change rather rapidly due to conditions outside of your control - for example a change in the law might make it easier for competitors to flood the market or a major company might spot what you're doing then try to push you out. If you truly detest what you're doing to the point you wake up sad every day then it might be better for your mind and longer term health to move elsewhere, not every job might be so terrible in your profession.

R


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Sanitough
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February 06, 2023, 09:45:24 PM
 #110


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?

Never leave your job instantly. Secure your finances first. If you are gaining good and stable income from your side hustles, then you can start looking for a new job to replace your old job but never settle being jobless because most of the side hustles do not last longer. Some only exist temporarily and they’re gone, except for those well established ones. So have your own day job, and make use of your free time doing some side hustles that are giving your great income too.
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February 06, 2023, 10:22:54 PM
 #111

You should always strive to have a passive income, because there is nothing more inconstant than a permanent job (paradoxically, situations where you lose your main income for whatever reason are very frequent). The important thing is that you have the ability to create a permanent passive income.
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February 06, 2023, 10:39:16 PM
 #112

You should always strive to have a passive income, because there is nothing more inconstant than a permanent job (paradoxically, situations where you lose your main income for whatever reason are very frequent). The important thing is that you have the ability to create a permanent passive income.
When we do talk about passive then it is really good rather than on having an active approach when it comes to your side hustle or side income unlike when its passive then i dont see a reason for you to quit up your main source of income or job even your passive is earning more than on it.Come to think that if you do able to survive or make a living with your old job then why quit? If you arent that stressed nor being comfortable
with your work then its no sense for you to quit up and focus on your passive income.We cant really make ourselves that so sure that everything is assured when it comes to future talks.
No one could know on when you would be losing that passive or neither your job.So having multiple options is always been better.

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February 07, 2023, 01:33:18 PM
 #113

It's a good thing if passive income is equal to or higher than salary, this is everyone's dream, if this happens to me then I will continue to increase passive income sources, and of course I will continue to work so that monthly salary can be used to increase passive income, and To achieve the ideal passive income, it can be 3x higher than salary, I will focus on developing this passive income.


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February 07, 2023, 02:45:59 PM
Merited by fillippone (2)
 #114

You must clearly state the job that you hate, so that people can give an objective assessment of the decisions you make, nowadays in uncertain economic conditions, many people find it quite difficult to get a job, so talking about passive opinions is the same as making commotion.

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?
Four years is a long time to keep you in that job, I assume you don't hate the job, but rather the saturation point that starts to emerge based on the rules that apply in your workplace. Even if my assumption is wrong, then you are the typical person who does not dare to leave your comfort zone, because what I understand from the writing you wrote is that this is a job you hate, but instead you have been in that job for four years. Anyone can give advice about the problems you are experiencing, but believe using instinct and assessing comfort at work are important factors in making a decision to stay or not.

The concept of living for the rich, they never think that income only comes from one job, they will do everything they can to expand their income from various sides. But apart from that, you have full rights to choose one that can make you comfortable, because sometimes wealth doesn't always make people calm in their lives.

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February 08, 2023, 12:32:10 AM
 #115

OP, if the income is passive and equals my salary, I will personally look at my awaiting bills to settle, my responsibilities to cater for, the possibility of saving, and how much I could be saving. I will also consider the amount of time I can have to rest and have fun, and I will check my capability of handling the two jobs, unless the passive income is an investment.

Sure, one can invest in different places that may be generating an active income steadily, but if that's the case, I will not quit my job so long as it is not causing me my time and energy to handle it, but if the passive income is something that requires my attention just like my job does, then I will consider the list I made above.

Some times, one can be earning less than one requires to spend, and that's what leads most people to take out loans or others. But if you see that your passive income is fulfilling all your bills and can be used to handle all your responsibilities, then you can quit your job and only concentrate on the passive income.

Again, you must consider your ability and your resting time; if you have the ability to handle both duties, then continue with both; if you are still able to find quality time to rest, then maintain both, but remember, "health is wealth." If you feel too stressed out, then you must let go of one, and letting go of one means you only make choices for the right one to retain, the one that will not disappoint you.

just my opinion, though and how I will respond if am in your place.

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February 08, 2023, 02:22:43 AM
 #116


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 need to emphasize to you.
You only live once in the world, so have to enjoy it, so there will be no regrets one day. Time is a part of life that cannot be turned back, use time wisely to create a better life by doing the things you love.
If your time is limited by a job you don't expect, get out of that job right away, it's pointless to stay there if you're not happy.

Money can still be found, happiness cannot be bought. This is only a suggestion from me.

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SPIN

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February 08, 2023, 02:39:11 AM
 #117

...
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?

4 years in a job you hate so much? I'm sure your decision was driven by your closest family, but this is also what you have to understand, if a job you hate gives you a stable income and can make your immediate family happy, I think surviving is a wise choice. I'm sure you don't hate your job, you just hate your coworkers who might have a lot of drama.

You already said that you hate your job, I wouldn't stay in a job that I truly hate. I'll value more my mental health than it because it's going to bear more affection to myself than to my pocket.

Since you've got streams of income including passive income and it's earning more than your salary then you've got the answer.

Follow your peace, that's all you need.

haha, I am this type of person, my mental health is my priority. before becoming a full-time freelance and housekeeper, I was a gold broker, my boss gave our team unreasonable targets and my coworkers played a lot of drama for their personal gain, finally, after seeking permission from my partner to leave work, I immediately quit my workplace and toxic co-workers as soon as possible.



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Rainbot
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xSkylarx
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February 08, 2023, 03:28:48 AM
 #118


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 need to emphasize to you.
You only live once in the world, so have to enjoy it, so there will be no regrets one day. Time is a part of life that cannot be turned back, use time wisely to create a better life by doing the things you love.
If your time is limited by a job you don't expect, get out of that job right away, it's pointless to stay there if you're not happy.

Money can still be found, happiness cannot be bought. This is only a suggestion from me.


I am amazed at those people who are pursuing their dreams, taking the risk to leave their job, but this is not easy for those who have families to feed because they need to see that he can still provide while pursuing his dreams. Time is really precious, and still you are suffering from the job you don't want, so it is really better to chase your passion so that you treat your job as a hobby that you are enjoying. How I wish I could do this, but I can't take the risk as I am the breadwinner.
Reatim
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February 08, 2023, 04:37:38 AM
 #119

If i were in your shoe? as long as the passive income provider does not effect my regular Job then why not consider them both continuously? and also that is why you addressed that as Passive Income meaning you does not consider this as main area of profiting .

Work Hard and you will see the outcome in time , there is no perfect source of income than multiple ways like what you are having now.









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Mars,           
here we come!
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ElonCoin.org.
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.
"I could either watch it
happen or be a part of it"

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Lubang Bawah
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February 08, 2023, 05:04:35 AM
 #120

If this has only happened for less than a year then I will not take the risk of leaving work, it is too risky if you only rely on one source of income, namely from passive income, moreover passive income is usually uncertain and there is no guarantee whether it will last for a long time, until now I'm happy and always looking for a source of income and hope to be able to make it happen to get a passive income that is greater than the cost of living and monthly salary.



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