What is activity-based income? It is any income that is depending on your own efforts only, like having a job. In a job you have certain rules as to when you start working; when you stop working and how much you are getting paid. Then you employer decides on when you go on holiday and for how long and how many days you have for sick leave, etc. if you break the rules, the give you disciplinary hearing and after a few of that, they fire you. But the main thing is that if you stop working, no matter if you get retrenched, retired or fired, your income also stops. And if you stop working you cannot pass your job and thus your income onto your children. There is no job security in a job because if the company is not doing well, they simply retrench you and say they can’t afford your services; but if the company is doing very well, you don’t get to share in the profit either! You are always at the mercy of your employer. Yet everybody is looking for a job, but they really want is an income. I am not nocking jobs down, it’s good to have one and if you have one, you must look very well after it.
Another fact is that most people who have worked their entire life, cannot afford to retire. You just cannot save enough to take care of you until you die, because we are living longer due to the advancements in technology. It’s scary, but how many pensioners are really living a carefree lifestyle? Why are you working if you know you will not be able to retire in comfort?
A recurring income is created by creating an asset that will pay you when you are not physically there, like bying a block of flats and then rent it out. You will get your rent even if you are not present. You can also use a legal sytem that allows you to create an unlimted income on the side. By creating a recurring income, you are not only protecting your financial future because this kind of income never stops paying when you retire or get retrenched, are sick or on holiday, but you can pass it on from one generation to another creating generational wealth. I believe that adding an extra income source to your budget can not only help you to cope with the rising cost of living but forms a back-up plan in case you cannot work anymore. It also will help to make sure that you can retire in comfort and at least you can pass it on to your children and they can carry on where you have left. If you are interested in learning more on how to use this legal system to earn a passive income, you are welcome to contact met on 0827835661.
