Passive Income Can Become a Primary Source of Survival

[beerlover]

Most of the time the amount required to give you a steady income from passive investments is a lot and that is why not many people can achieve it. To make passive income that is enough to be main source requires high capital and we do not have that much money, some may have it, but I do not and makes no sense to try to have the same type of return.

I think, it is smarter to end up with something that would make more sense for whatever else reasons and we can keep it somewhere safer.

[Renampun]

So what do you think? Should we focus on establishing a passive or alternative income source?

I prefer building passive income rather than looking for alternative sources of income, passive income gives me the opportunity to earn money without having to be actively involved, allowing me to spend time on the things that matter most, whether it's work, family, or other things. there are several things that can be done to build passive income, whether it's affiliate marketing, investing in potential businesses, building rental properties, or various other things that suit our abilities. although people say it's riskier, but rather than having to pursue alternative income where you have to continue working and sacrificing time to earn more money, passive income allows you to earn money without more effort, although you need to consider the risks and some require capital, but it's worth it if you can get passive income every month.

[uneng]

First, you should focus on establishing an active source of income, that is, an income you will make from your active labor. It's through this initial income you will be able to save for later passive income.

The problem with people is that they want to live from passive income without building a solid patrimony first. That is when they start going for "get rich quick" schemes, as they have little money to invest, but want huge return in short time period.

After all, they are unable to thrive, because all the little money they can make is wasted on scam schemes.

Passive income comes within time, on long run, after several years of hard active work, unless you already were born in a wealthy family who can sponsor your living costs, besides sponsoring your investments.

[Alpen]

But I have been involved with online earning through crypto marketing and trading as well. So then my online earnings become my primary income source to survive with my family. Thank God I didn't have to struggle to survive due to my passive income that later became my primary income source. Now I am established again and have a good business in real life as well.

So what do you think? Should we focus on establishing a passive or alternative income source?

To me, trading and marketing can hardly be called passive income. That is just standard payment for the work you put in.

In my experience, trading is incredibly difficult when you rely on it as your primary income. In crypto, active trading often doesn't even make sense because you’d likely earn more with a simple DCA investment strategy.

However, staking the coins you are holding is a different story. The interest you get from the pool—that is the definition of classic passive income.

The market disappointed many people this year, especially those living off investments. I got lucky because I rediscovered the Tron blockchain. First, friends showed me how to get 20% APY on Justin Sun’s stablecoin (what bank gives you that?), and later I found a 20% yield on TRX itself using the Cryptomus service.

My plan for next year is to stake all my crypto and try working with prop firms. I don't have enough capital to scale my trading income on my own, but this strategy could give me access to millions in funding. In theory, of course

[junder]

It's really a must to gain passive income especially these days that working on a single job, like your main job, is no longer sufficient anymore. Inflation is high, so if we will only settle to a single source of income, we might often face financial crisis and its not healthy anymore if you always felt the pressure on how to make ends meet just for daily's survival.

Having a passive or alternative source of income is highly advisable. That way, if your main income is not enough, at least you have additional income that will go inside your pocket, that would help you not to get drained financially and emotionally. And you could live a much healthier and happier way of living.

What you said is true. I've experienced this myself, having only one job while I have to provide for my family. Even though other family members have jobs, what annoys me is that they don't want to help with their needs, so I have no choice but to shoulder the burden. Furthermore, I don't dare tell them to help because I'm tired of reminding them.

I think having a side income sufficient for our own needs is better. Even if it's not much, it might help a little. Nowadays, there are actually opportunities to earn money as long as we have the desire and determination.

[DrBeer]

It seems that everyone agrees that passive income is important. Now, here's a question for the participants: who knows of any passive income options, and who has implemented any passive income options for themselves? Theory is good, but practice is much more interesting and important for us! Is anyone willing to share their experience?

[lizarder]

For me, I had been working abroad. Though I hadn't lost the job, I left my job willingly by resignation. I think I will start a business once I come back to my home country. The time was during COVID; I came back and started a business as well. But unfortunately I lost my investments from that business, and I became jobless, and there are no income sources as well. But I have been involved with online earning through crypto marketing and trading as well. So then my online earnings become my primary income source to survive with my family. Thank God I didn't have to struggle to survive due to my passive income that later became my primary income source. Now I am established again and have a good business in real life as well.  

We are indeed faced with problems that sometimes occur quickly without any specific warning, such as losing a job in real life due to various circumstances. This is exactly what I experienced before my business flourished as it is now. In those difficult times, alternative income became a strong support in the life I live with my family. I also struggled to find another source of income after working in one place so I could save enough money to build my current business. It was truly exhausting because my mind, energy, and even time for rest were so limited because we had to focus on increasing our income.

At its peak, I started building my own business before COVID-19 hit. I thought the problem was solved, but instead, I was tested again because under those conditions, sales actually declined and my turnover also decreased significantly. Fortunately, after hard work and adapting my business to the current situation, I was able to overcome the pressure and eventually my business stabilized and slowly improved.

[pusaka]

What you said is true. I've experienced this myself, having only one job while I have to provide for my family. Even though other family members have jobs, what annoys me is that they don't want to help with their needs, so I have no choice but to shoulder the burden. Furthermore, I don't dare tell them to help because I'm tired of reminding them.

I think having a side income sufficient for our own needs is better. Even if it's not much, it might help a little. Nowadays, there are actually opportunities to earn money as long as we have the desire and determination.

I apologize in advance, but I think it sounds like you have a problem with your own family that they depend on you? Is that right?

I suggest you have the courage to get out of that zone, because you must also have desires. Are you married or single? If you have a family, then they should no longer depend on you. And if you don't have a family, then this is dangerous in my opinion, because when you get married and they are still depending on you, then maybe it will be a problem for your little family.

[Kasabus]

There are actually instances when your passive income turns out to be your main source for survival. That's why we don't need to focus on just a single job because once we get fired or the company stop its operation, our daily survival will also be at risk.

Learn to enhance additional skills that will be suitable for any passive income available. They can be small source of income, and some may even hit a bigger income compared to their main job. Keep them both if possible, because the more you will have an income, the bigger rate of lifes survival.

[goro_chief]

I think we should try to step outside our comfort zone and start doing the things we want to do. I congratulate you for taking a risk, and I hope you continue to thrive. Often, when there are many people working in the same field, supply and demand cause the value of our work to decline. That's why it's healthier to move forward with personal projects individually. Sooner or later, you are the only one who wants the best for yourself

[Abiky]

The title itself explains a lot of things. We know passive income helps us to fulfil our family needs and live a luxurious life. But have you ever thought that passive income would be your primary source of income sometimes for survival? If you had never thought, then remember the COVID situation; a lot of people lost their jobs. So unless you had alternative or passive income sources, then how hard was it to survive during COVID? Those had alternative or passive income sources; then it was their primary income source, especially those who are freelancing over the internet. It doesn't matter whether you are doing trading or crypto marketing or any other things.

For me, I had been working abroad. Though I hadn't lost the job, I left my job willingly by resignation. I think I will start a business once I come back to my home country. The time was during COVID; I came back and started a business as well. But unfortunately I lost my investments from that business, and I became jobless, and there are no income sources as well. But I have been involved with online earning through crypto marketing and trading as well. So then my online earnings become my primary income source to survive with my family. Thank God I didn't have to struggle to survive due to my passive income that later became my primary income source. Now I am established again and have a good business in real life as well.

So what do you think? Should we focus on establishing a passive or alternative income source?

Well, passive income is usually a lot less than your active income. Unless you have a lot of money invested, you shouldn't expect to survive with passive income alone. Rich people are the ones who benefit the most out of a passive income system, especially if they began investing at a young age. If you manage to build a solid passive income system, then you'll be all set towards financial independence. This is good because it help you "survive" during times of crisis. Not many people have this opportunity, though. Most people are living paycheck to paycheck, so they are unable to invest their money that would help them build long-term wealth.

Between crypto and stocks, I'd say crypto remains the easiest choice for anyone to start building their own passive income. As with anything, it's always to have more than one plan in mind (Plan A, B, C, etc.). Having both a passive income and active income source will allow you to better manage your financial life. Spend your money wisely, and you'll have nothing to worry about.

[gibrab16]

Personally, passive income is financial security, it's about building options early as it grows faster overtime.Passive income reduces dependence on a single paycheck,if active income stops, you have something in your hands.With passive income,you’re not forced into bad jobs or desperate financial decisions.Everything comes from a place of protection and wealth building.

[LogitechMouse]

---
But I have been involved with online earning through crypto marketing and trading as well. So then my online earnings become my primary income source to survive with my family. Thank God I didn't have to struggle to survive due to my passive income that later became my primary income source. Now I am established again and have a good business in real life as well.

So what do you think? Should we focus on establishing a passive or alternative income source?

Sorry, but I don't see crypto marketing and trading as a "passive income" at all because you need to work in order to make money from it. Well, it's good for you and for some here (including me) that we have survived the COVID pandemic because I myself didn't need to struggle that much just for me to survive. I will be a hypocrite if I will not be saying this, but signature campaigns here in the forum has been a very big help for me during that time because I and we are still earning despite the pandemic going on.

Thanks to God that we didn't need to struggle during the peak of the pandemic, but in terms of passive income, having one would be a big help because we will not be working our whole life and at some point, we will be retiring and our body can't work anymore. As for me, what I am doing is that, I'm stacking some dividend-paying stocks for many years and those stocks will be the ones that will be providing my monthly expenses when the time comes where I can't work anymore. For me, that's the perfect example of passive income because even though you will not be working, you can still make money through dividends.

Establishing a passive income for me is a requirement because like what I said, we will not work our whole life and at some point, we need to enjoy our lives especially when we become old.

[Bitcoin Smith]

In this competitive world no job is certain anymore and even the small or big business can be busted anytime just because of new invention or simply an app can erase most of the business like what happened with food delivery and grocery delivery apps did to the restaurants and small shops. So try to have something like rental property that keep generating revenue and if not possible then just buy gold/bitcoin or any asset and keep holding because in case of emergency this can be sold and used for the survival of the next few months until you find the job.