True wealth comes from income when you sleeping but earning

[MissNonFall9]

Yes, that's right bro, to reach that point we have to go through many obstacles, challenges and very high flying hours, it's not easy for us to reach that point, because the highest achievement is when we sleep but we make money, that's one of everyone's dreams. , but not everyone can achieve that, when we have a lot of capital then we have to invest a lot and we have to create a business where the business can generate daily and monthly profits for us, we have to work hard without thinking about any obstacles because we have to need a process which is long and obstacles that are not easy for us to accept, even though there is no guarantee that we can reach that point.

I strongly believe in the saying that hard work never returns a man empty handed he will be rewarded accordingly. But it is almost uncertain to say when the reward of that labor will come. Therefore by analyzing the information and data it is necessary to determine the goals and objectives of the right placement and work properly. In real life we ​​have seen that many success stories of people seem easy to hear but the path to real success is very difficult and a big journey of patience. It requires a lot of practice analysis knowledge and proper action skills.

Without a doubt working hard towards our goals will eventually grant us the results we are looking for, however just as it is important to be willing to work hard, the consistency at which we do is critical too, as it is very common for a person to work hard for a few months and when the rewards they are expecting do not appear as fast as they want, they get desperate and they quit, when as you mention we do not really know the time at which we may reach our goals, so it is necessary to work as hard as possible for a long period of time so we can guarantee our success.

It is very important for success that is consistency. It is almost impossible to get expected results from any work if one does not do it consistently. That is why we should stick to reaching success and keep up the activity for the goal. For that to get the right result of our work we should plan for a long time which will help us to reach the right goal. And those who want to get a lot in a short time or who are embarrassed by obstacles in the middle of work will never get the desired results and will never succeed in life. So we need to discover areas that will help us maximize our resources.

Exactly, we need to keep bringing new sets of ideas to make sure that we are consistent in terms of investing to the right sets of industries, yes, it's easy to say that money can work for us but the question is if the business that we are into will continually generating profits? the answer will be on how you pick the market and how willing you are to keep on improving your strategy making sure that it will continue to bring success.

Nicely said that many people in the world have enough resources to rise or prosper but not everyone can grow or prosper in that proportion. The main reason is that it is not important how much wealth we have but the main thing is the knowledge of using the resources properly. Many people have reached high levels of development even from small resources just by using the resources properly. See every person in the world wants to improve and tries accordingly but cannot achieve the desired improvement due to lack of sufficient knowledge. So just willpower is not enough it needs knowledge and proper application of knowledge.

[JeffBrad12]

Yes, I understand and I agree with what you say, but what I want to emphasize is that I do not believe that we can create a passive income stream with the cryptocurrency market, with programs like staking and lending or investing in altcoins...
If someone makes an effort, is constantly diligent and has a good plan, creating a passive income source is completely possible. It's quite a difficult task, but not impossible. But like I said, passive income becomes a reality when we own rental real estate, businesses...there is no way to earn passive income in a volatile and risky market like cryptocurrency.

I'm quite the opposite, I do believe that lending and staking is one form of passive income, same as stock dividend.

The key in creating passive income in crypto market is abundance of capital, when you can leverage millions of dollars for deposit or staking, you essentially could make thousand to hundred thousand of dollars without breaking sweat and by doing nothing, so many staking program these days, I consider these as passive income. though, they may carry risk that could endanger your entire capital but any other means of having passive income also have such risk.

For example is launchpad and PoolX, had someone staked millions they could easily get so much money out of it and that by just putting their stablecoin in platform like binance, bitget, etc, which is quite neat.

[ndutndut]

Well, all investments have its certain risks. If you are not knowledgeable enough, you will certainly fall on its risks and may find it hard to succeed on your chosen investment. However, if you know your investment well and you are taking calculated risk, then the chances of generating profits later on is highly possible. But I suggest when you see your investments working already, don't just stop there and limit yourself, but also diversify your investments by putting your money in different basket, not just on a single basket as the risk to lose is obviously high.

The basic key is actually knowledge because all investments have different characteristics and different risks. So to get passive income we have to have extra knowledge, don't just focus on one investment but make all investments a field for looking for passive income. The more sources of income, the closer we are to achieving financial freedom.

The point is if you want to be financially successful, if you don't want to be poor. stop saving in the bank and always develop skills in the investment sector. Develop a side job so you can invest in bitcoin, gold and property because these three investments have the potential for us to get passive income. Yes, placing money in just one basket has a very high risk, if it fails then we lose everything.

[Fredomago]

Well, all investments have its certain risks. If you are not knowledgeable enough, you will certainly fall on its risks and may find it hard to succeed on your chosen investment. However, if you know your investment well and you are taking calculated risk, then the chances of generating profits later on is highly possible. But I suggest when you see your investments working already, don't just stop there and limit yourself, but also diversify your investments by putting your money in different basket, not just on a single basket as the risk to lose is obviously high.

The basic key is actually knowledge because all investments have different characteristics and different risks. So to get passive income we have to have extra knowledge, don't just focus on one investment but make all investments a field for looking for passive income. The more sources of income, the closer we are to achieving financial freedom.

The point is if you want to be financially successful, if you don't want to be poor. stop saving in the bank and always develop skills in the investment sector. Develop a side job so you can invest in bitcoin, gold and property because these three investments have the potential for us to get passive income. Yes, placing money in just one basket has a very high risk, if it fails then we lose everything.

Which is most of the time the mistake that such investors commits when placing their investments,  you need to workwith more knowledge about any investment that you wanted place you money,  that's logic when you put everything in one investment and things didn't work out accordingly,  you'll lose it all unlike if you segregate your investment there's money that will be passive if you just let it grow.

Just need to have the right sets of knowledge that gives you better idea and overview if how things or how the market will allow you to earn.

[Marvell1]

Well, all investments have its certain risks. If you are not knowledgeable enough, you will certainly fall on its risks and may find it hard to succeed on your chosen investment. However, if you know your investment well and you are taking calculated risk, then the chances of generating profits later on is highly possible. But I suggest when you see your investments working already, don't just stop there and limit yourself, but also diversify your investments by putting your money in different basket, not just on a single basket as the risk to lose is obviously high.

The basic key is actually knowledge because all investments have different characteristics and different risks. So to get passive income we have to have extra knowledge, don't just focus on one investment but make all investments a field for looking for passive income. The more sources of income, the closer we are to achieving financial freedom.

The point is if you want to be financially successful, if you don't want to be poor. stop saving in the bank and always develop skills in the investment sector. Develop a side job so you can invest in bitcoin, gold and property because these three investments have the potential for us to get passive income. Yes, placing money in just one basket has a very high risk, if it fails then we lose everything.

I agree with most of what you said but I will disagree with you on the part I bolded. What would you do if you suddenly became unemployed and your investments suddenly lost money due to negative market movements? Then you will see that saving will help you a lot and it is not as bad as you think. No matter how many investments we have or how many sources of income we have, owning a savings account should not be overlooked because life is always full of surprises and unpredictability.

By the way, diversification is a good thing because it helps us minimize risk but is it necessary if we don't have too much money and should instead focus on a single investment to maximize profit? Diversification helps reduce risk but will also reduce our profits, so it depends on each person's financial ability to make appropriate choices.

[lizarder]

You can get passive income from such fluctuations especially if you are trading the coin. So if there is a downward movement, some people have benefited one way or the other and likewise up movement too, people make passive income.

Apart from trading, people are now also making passive income through mining of coins through different medium like telegram 

The point is that intelligence is needed in developing passive income potential and although there is no fixed guarantee, the potential can be maximized. Now for the guarantee of passive income from investment is not at all certain and we cannot expect it completely. That is why people need to spread several portfolios so that when one coin does not strengthen, they still have other coins to utilize. Price fluctuations will force us to wait for price recovery and from there we can sell certain coins to make a profit.

If we are able to mine and have sufficient tools, it will help to generate other profits and that is why we need the ability as a supporter. The more ways we can maximize, the greater the profit we will get. It should be so that we can continue to collect profits even in small ways in various aspects that exist, so that we can get passive profits.

[Huppercase]

I agree with most of what you said but I will disagree with you on the part I bolded. What would you do if you suddenly became unemployed and your investments suddenly lost money due to negative market movements? Then you will see that saving will help you a lot and it is not as bad as you think. No matter how many investments we have or how many sources of income we have, owning a savings account should not be overlooked because life is always full of surprises and unpredictability.

By the way, diversification is a good thing because it helps us minimize risk but is it necessary if we don't have too much money and should instead focus on a single investment to maximize profit? Diversification helps reduce risk but will also reduce our profits, so it depends on each person's financial ability to make appropriate choices.

When they say "don't save your money in the bank",  they don't mean you should go and invest all your money in all sort of things. There are moderate investments and other financial institutions that you can buy and have your money back with guarantee like bonds and treasury bills, your money is in save hands and the ROI you get might be big but it covers your asset from inflation that may come later in the future.  Saving money in the bank can never protect you from inflation.

Beside you don't have to use all your money to invest in one investment, you can always diversify your money into different investment to reduce the risk. We have things like Bitcoin and some other stock, there are some of them that perform very well and they will help you protect your money but bank can never give you anything, they are using your money for their own financial gains and perhaps even give you some miscellaneous charges such maintenance and debit cards which is annoying.

[Renampun]

The great Warren Buffett said,  “If you don't find a way to make money while you sleep, you will work until you die.”

He’s mostly right isn’t it. Try to create a passive income if possible.

That's right, however, passive income (apart from active income) must be had by everyone nowadays, the reason is quite simple, we don't know what will happen in our future, when we can't make money work while we sleep, it's difficult for us to do it enjoy a relaxed and comfortable old age, when we are old our bodies are no longer able to work hard so passive income is really needed to encourage us to do other productive things while enjoying the passive income.

[Marvell1]

I agree with most of what you said but I will disagree with you on the part I bolded. What would you do if you suddenly became unemployed and your investments suddenly lost money due to negative market movements? Then you will see that saving will help you a lot and it is not as bad as you think. No matter how many investments we have or how many sources of income we have, owning a savings account should not be overlooked because life is always full of surprises and unpredictability.

By the way, diversification is a good thing because it helps us minimize risk but is it necessary if we don't have too much money and should instead focus on a single investment to maximize profit? Diversification helps reduce risk but will also reduce our profits, so it depends on each person's financial ability to make appropriate choices.

When they say "don't save your money in the bank",  they don't mean you should go and invest all your money in all sort of things. There are moderate investments and other financial institutions that you can buy and have your money back with guarantee like bonds and treasury bills, your money is in save hands and the ROI you get might be big but it covers your asset from inflation that may come later in the future.  Saving money in the bank can never protect you from inflation.

Beside you don't have to use all your money to invest in one investment, you can always diversify your money into different investment to reduce the risk. We have things like Bitcoin and some other stock, there are some of them that perform very well and they will help you protect your money but bank can never give you anything, they are using your money for their own financial gains and perhaps even give you some miscellaneous charges such maintenance and debit cards which is annoying.

I'm not saying that keeping money in the bank can protect me from inflation, I'm just saying that savings will help me in emergencies, meeting my daily needs.

As I said, diversification will help you reduce your risk but it will also reduce your returns, so it is up to each person to invest in one or more investments. For example, if you invest entirely in bitcoin and you invest 50% in bitcoin, 50% in gold, which investment will yield higher returns? Reducing risk means reducing our profits, so it depends on each person's preferences.

You need to know that a bank is also a business and they are in business, they have no responsibility to spend billions of dollars to build systems and serve you for free. If you feel dissatisfied with the service they provide, do not use it and there is no need to criticize them. If it were you, would you be willing and generous to create a multi-million dollar system to make it available to everyone for free? Like the bitcoin network, will your transaction be completed if you don't pay the fee? Nothing in this world is free and if you feel they are too expensive, skip them because they don't force you to use their services.

[pusaka]

The great Warren Buffett said,  “If you don't find a way to make money while you sleep, you will work until you die.”

He’s mostly right isn’t it. Try to create a passive income if possible.

That's right, however, passive income (apart from active income) must be had by everyone nowadays, the reason is quite simple, we don't know what will happen in our future, when we can't make money work while we sleep, it's difficult for us to do it enjoy a relaxed and comfortable old age, when we are old our bodies are no longer able to work hard so passive income is really needed to encourage us to do other productive things while enjoying the passive income.

Talking about passive income, everyone has thoughts in that direction. However, the problem is when they don't know what they have to do to make this happen, because before we can get passive income like that, we definitely have to work hard first and we will probably experience a lot of failure.
Maybe for people who have adequate capital it will be easier to get it, but for people who are financially deficient it will be more difficult. The reason is that before they think about doing anything that will lead in that direction, they must be busy thinking about how they can continue to fulfill their daily needs.
However, when they have a way to get there, it will be easier because they can be more creative in developing what they think to be more productive.

[CageMabok]

Nicely said that many people in the world have enough resources to rise or prosper but not everyone can grow or prosper in that proportion. The main reason is that it is not important how much wealth we have but the main thing is the knowledge of using the resources properly. Many people have reached high levels of development even from small resources just by using the resources properly. See every person in the world wants to improve and tries accordingly but cannot achieve the desired improvement due to lack of sufficient knowledge. So just willpower is not enough it needs knowledge and proper application of knowledge.

The will to develop that is not accompanied by action is a wishful thinking that will not come true or like a dream that will not come true at all. Because in general, after there is a will, of course there must be action on that will so that we can see the results and this must of course be well organized in a neatly arranged plan before it is actually carried out. Because any mistakes in governance will also result in worse results, including in terms of managing the resources you mean, because good management will definitely produce super good rewards of course.

[dezoel]

The basic key is actually knowledge because all investments have different characteristics and different risks. So to get passive income we have to have extra knowledge, don't just focus on one investment but make all investments a field for looking for passive income. The more sources of income, the closer we are to achieving financial freedom.

The point is if you want to be financially successful, if you don't want to be poor. stop saving in the bank and always develop skills in the investment sector. Develop a side job so you can invest in bitcoin, gold and property because these three investments have the potential for us to get passive income. Yes, placing money in just one basket has a very high risk, if it fails then we lose everything.

Passive income isn't that complicated if you want to make it simple, like savings account in some bank is as easy of an investment as it gets and you can do that if you really want to. However, most people do not look at that part, and instead they look at what they can do with what they have, which causes them to have a lot of trouble.

I believe that if people were to not look for bigger and bigger passive income, they could do a lot better. This isn't that simple and I know that it will take a while, but I also think that the best way to go with this would be realizing that we are going to make some good income from it if we play it safe. This is why I believe that we can't just risk it all, but can't make savings, we need to find a balance.

[Webetcoins]

There are many people who may understand how to trade but they spread several assets. So when one coin goes down they still have a chance in another coin. But this also does not necessarily give us passive income because the market talks about coins that are always fluctuating.

You can get passive income from such fluctuations especially if you are trading the coin. So if there is a downward movement, some people have benefited one way or the other and likewise up movement too, people make passive income.

Apart from trading, people are now also making passive income through mining of coins through different medium like telegram

Trading and Telegram are not sources of passive income because if you earn any kind of income on Telegram, you are given tasks that you have to do, due to which you are paid. And, in trading, you need to be constantly watching the market and making trades manually, even if you are doing copy-trading or using a bot for your trades, you still need to keep checking all the time to see if things are going the way they should.

Passive income is where you have invested some of your money somewhere and you are getting profit from there, you don't have to spend time there all the time. Yes, if you are doing mining, you can call it passive income, or maybe investments that are for the long term such as in Bitcoin, but only if you are not spending much time on it after making your investment.

[fuguebtc]

Yes, I understand and I agree with what you say, but what I want to emphasize is that I do not believe that we can create a passive income stream with the cryptocurrency market, with programs like staking and lending or investing in altcoins...
If someone makes an effort, is constantly diligent and has a good plan, creating a passive income source is completely possible. It's quite a difficult task, but not impossible. But like I said, passive income becomes a reality when we own rental real estate, businesses...there is no way to earn passive income in a volatile and risky market like cryptocurrency.

I'm quite the opposite, I do believe that lending and staking is one form of passive income, same as stock dividend.

The key in creating passive income in crypto market is abundance of capital, when you can leverage millions of dollars for deposit or staking, you essentially could make thousand to hundred thousand of dollars without breaking sweat and by doing nothing, so many staking program these days, I consider these as passive income. though, they may carry risk that could endanger your entire capital but any other means of having passive income also have such risk.

For example is launchpad and PoolX, had someone staked millions they could easily get so much money out of it and that by just putting their stablecoin in platform like binance, bitget, etc, which is quite neat.

You are not wrong in calling them passive income because they are also paying you daily/monthly profits, but the reason I don't consider them a source of passive income is because investing in them is like gambling. As you also know when we invest in altcoins or depositing money on centralized exchanges is too risky because we can lose everything at any time. So how can we say that we are generating passive income by gambling? Meanwhile, risks in real estate and business also exist, but do you think it will be as big as we gamble?

Passive income is not just that we can generate income while we sleep, but it also needs to be sustainable and stable. The cryptocurrency market does not give you a steady and stable income, especially when it involves speculation in altcoins.

[Fredomago]

Nicely said that many people in the world have enough resources to rise or prosper but not everyone can grow or prosper in that proportion. The main reason is that it is not important how much wealth we have but the main thing is the knowledge of using the resources properly. Many people have reached high levels of development even from small resources just by using the resources properly. See every person in the world wants to improve and tries accordingly but cannot achieve the desired improvement due to lack of sufficient knowledge. So just willpower is not enough it needs knowledge and proper application of knowledge.

The will to develop that is not accompanied by action is a wishful thinking that will not come true or like a dream that will not come true at all. Because in general, after there is a will, of course there must be action on that will so that we can see the results and this must of course be well organized in a neatly arranged plan before it is actually carried out. Because any mistakes in governance will also result in worse results, including in terms of managing the resources you mean, because good management will definitely produce super good rewards of course.

Good point, you need to take action when you are aiming for something in order to make it into reality, there are people who have that mentality where they are always aiming for success but they are not doin nothing, just looking for quick outcome but most of the time they failed or fall into a wrong venue of investment,

and sadly lose their investment, you need to work on your dreams and keep trying to learn factors that will helps to make things happened according to your desire of success.

[dunfida]

Nicely said that many people in the world have enough resources to rise or prosper but not everyone can grow or prosper in that proportion. The main reason is that it is not important how much wealth we have but the main thing is the knowledge of using the resources properly. Many people have reached high levels of development even from small resources just by using the resources properly. See every person in the world wants to improve and tries accordingly but cannot achieve the desired improvement due to lack of sufficient knowledge. So just willpower is not enough it needs knowledge and proper application of knowledge.

The will to develop that is not accompanied by action is a wishful thinking that will not come true or like a dream that will not come true at all. Because in general, after there is a will, of course there must be action on that will so that we can see the results and this must of course be well organized in a neatly arranged plan before it is actually carried out. Because any mistakes in governance will also result in worse results, including in terms of managing the resources you mean, because good management will definitely produce super good rewards of course.

Good point, you need to take action when you are aiming for something in order to make it into reality, there are people who have that mentality where they are always aiming for success but they are not doin nothing, just looking for quick outcome but most of the time they failed or fall into a wrong venue of investment,

and sadly lose their investment, you need to work on your dreams and keep trying to learn factors that will helps to make things happened according to your desire of success.

There's no way that you could really be able to achieve something without doing hard work or anything that make it happen.You would really be that definitely needing to have that kind of actions if you do really have plans on having that achieving that state that you would be having that passive income, on which we know that this is something that needs up time and capital for you to achieve on. We are really that hoping to have a life
on which we dont really like for any financial difficulty. Who doesnt want to become rich? It would really be just that depending on how well you do make yourself that deal up with these things.
You cant be able to achieve something if you dont work hard or making good decisions. This is why to those people who do attain or achieve successful life or finances did really passed up through tons of challenges.

Who doesnt want to achieve such condition? It is really just that there are people who are really that rushing up things but becoming that delusion on which they thought that they could achieved
something so easily.Some do realize and knows that its expensive and wary about on what are the things needed on which this one discourages them to proceed on.
Sooner or later you would really be making up those realizations.

[Haunebu]

This is true to a certain extent op. Passive income trumps everything else for sure, but only some people know how to setup consistent passive income streams while the majority usually don't for various reasons.

Am a big fan of passive income streams myself, but I have not been able to setup a consistent one yet which hopefully will change in the future.

[Akbarkoe]

This is true to a certain extent op. Passive income trumps everything else for sure, but only some people know how to setup consistent passive income streams while the majority usually don't for various reasons.

Am a big fan of passive income streams myself, but I have not been able to setup a consistent one yet which hopefully will change in the future.

To get to the level of consistent and large passive income we need a lot of capital to do so, for example renting out property, staking ETH or other networks, dividends from stock assets, owning a freelance business, and various kinds of basically on auto pilot that are quite difficult to achieve if we don't have very good financial fundamentals.

We have to try to build our business very persistently first to get to that level of income, it's not impossible but it's not an easy thing we just need discipline to be able to reach that passive income level.