Most people over the age of 8 don’t dream of being a superhero; our dreams have been supplanted by reality. But today, I can freely admit that I am a superhero—a Passive Income Superhero.
I can finally admit it today because I just came up with the realization yesterday when I was talking to a young Marine. I’ll get into that conversation in a bit, but first, I want to ensure that everyone understands I work a full-time job. I have been working a full-time job for 22 straight years in the US Military. Okay, back to my conversation with my young Marine.
I have a new young Marine in my shop, and we were talking about his future. He said that he was on the fence about staying in the Marine Corps. So I asked him what his plans were, and he gave me the standard answer I have heard for 22 years; get out, go to school, and get a job.
Good Debt vs. Bad Debt
At this point, I told him becoming a standard employee was for the birds. If that were his plan, he might as well stay in the military. At least he has the opportunity to retire before 45 or 50. Getting out would ensure he worked until age 65 or later.
Then I told him the path to true wealth was through building passive income streams. I spoke about how my wife and I have been doing this, generating nice income streams, and becoming wealthy. Finally, I told him he needed to form a Passive Income Alter Ego. You can work a day job, but at night time, you need to focus on passive income.
Hence, I created this article once I reflected on our conversation. Great wealth is created by those that understand the concept of passive income. If you want to be a standard employee, expect to get typical employee results. If you’re going to be a superhero, you will have to learn how to fly (build passive income) and fight bad guys (inflation, recessions).
When I was talking to the Marine, he mentioned that he loved to read Japanese comic books. He had a particular style he loved to read and said they were over 700 pages each and translated into English. So, I gave him some ideas on how to monetize this passion.
He could start by opening a blog and reviewing these books for the public. This will allow him to begin growing an audience and establish himself as a subject matter expert. Then, he could open a Facebook group for like-minded readers that love this niche hobby.
Should You Consolidate Debt?
Eventually, he would grow an audience so large that advertisers would pay to speak to his audience. At this point, he would be making a nice passive income from doing exactly what he loved. It is possible, but it takes consistency and discipline. That’s pretty much it.
I told him my dream would be to play all the Pokemon games on camera and talk about life. However, I don’t think that was viable. I want a 100% portable profession that I can take on the road as we travel overseas. So I choose writing, and I adore this profession.
I can develop completely random ideas with writing, like this one, and make them into a usable product. Then, I can fit it into a universe of other ideas that can help others understand the importance of creating passive income streams.
When I write my articles, create my article designs, and build my books, I feel like a hero. This is because I couldn’t do any of this just six months ago. That is the power of becoming a Passive Income Hero; your abilities will grow exponentially over time.
The Truth about Discretionary Income
Life as a standard employee is excellent but still “standard.” But life as a Passive Income Hero is exciting because every day, something new happens. For example, you collect some new rent, or your house values go up.
In the investing world, you earn some nice new dividends, or your stocks make a move upward. Or, the market goes down, and you can go shopping at a discount, allowing you to increase your dividend yields.
In the crypto space, we have been getting punished by governments trying to eradicate Bitcoin miners. Now is a great time to go shopping for long-term success. Understanding these principles is what creates millionaires.
The business world is always exciting. There is always a new idea or opportunity to vet and see if it fits into your lifestyle. For example, our next move is to start a dog park in our house. However, I need to wait until I get back to the States (I am currently in Japan).
Becoming a Passive Income Hero. But to become a Passive Income Hero, there is a sacrifice of time and energy. “With great power comes great responsibility.” You will need to learn the ways of retirement planning, investing, cryptocurrencies, real estate, and business.
I Live Paycheck to Paycheck
This learning takes time and energy. I have spent thousands of hours reading books, following websites, researching topics, writing books, and talking to experts. Thousands of hours! And I have spent thousands of hours executing my plans in real life.
I did not realize how advanced I was until I talked to this young Marine (age 21). My thought process was way more than 20 years ahead of his. I was light years ahead. I could map out a whole passive income career for him in just under 10 minutes. Once he told me what he was passionate about, I knew enough to build out his life.
Sadly, most people (97%) will not ever become passive income heroes. Instead, being a standard employee and an ordinary human is what most people settle with. Not that this is bad. But, I can tell you this definitively, most people aren’t satisfied with their station in life.
In fact, most people want freedom of time, movement, and money. There is only one way to achieve this (at least under 65 years or less), becoming a passive income hero. Passive income is your key to freedom of time, freedom of movement, and freedom of money.
So, how do you get started? Luckily, I have been documenting my thousands of hours in the form of articles and books. Let’s take a look at some of my different short books and articles across each asset class. All my writings are available for free on my website, and I have a rotation of free books on the Kindle Store.
I highly recommend getting a subscription to Kindle Unlimited so you can follow all my new books as part of the subscription. Plus, there are a ton of good books to read as well. I just subscribed last month after paying for 51 books out of pocket in the previous ten months. Okay, let’s dig in.
Financial Mindset. For this category, I will go with “Become a CEO of Yourself (book).” The best place to start is with your mindset and behaviors.
Retirement Planning. It a challenging topic because I wrote an article about every decade leading up to retirement. So I will go with “Retirement Planning at Any Age (book),” mainly because the book combines all my articles on retirement planning into one huge book.
Investing. Wow, I have so many articles on investing. Please look up the investing tab on my website. But now, I am entirely biased. I absolutely adore the cover art on this article and book, so I have to go with this one. “Investing for Dividends 105: How Do You Want Your Dividends served? (book).”
Cryptocurrencies. I have a great running series on cryptocurrencies. I am new to the crypto-verse, and as I learn more, I will continue to keep the series running. Here is the latest article and my first significant book on cryptocurrencies. “CryptoCurrency 107: How to Invest in a DownTurn (book).”
Real Estate. Real Estate is a huge asset class, and most people are priced out of the market. You will have to learn how to become creative with real estate before you can jump in. However, I am going to start you off with the granddaddy of them all, “Financial Independence through Real Estate (book).” I believe it is like 45 chapters of real estate goodness.
Business. Business is a great wealth generator; however, most people start a business without first becoming an entrepreneur. Therefore, let’s start with that article and book. “Read these 10 Books Before Starting a Business (book).”
Whew, it is a lot, and that is just the surface. I have been reading books religiously and writing my five takeaways from them. I am up to 51 books completed and still going strong.
Financially, if you just want to read all my thoughts in a straight line, with no commentary, you can follow my Financial Independence Magazine Series. I write every ten articles, jam them into a book, and release them as Financial Independence Magazine. So you can start from number one and flow right into the last in the series. I promise if you do that, it will be life-changing, as it has been for me.
So I guess the last question you have to ask yourself is, do you want to live an ordinary life? Do you want to visit your adult children for two weeks out of the year because you are still working? Do you want to watch your kids struggle with a stressful job, finances, or buying a house?
Or do you want to be a Passive Income Superhero and have freedom of time, movement, and money? Do you want to move near your kids and grandkids and visit them every day because you do not need to work? Do you want to help teach your kids the ways of passive income so they can avoid a stressful job, control their finances, and buy whichever house they want?
Only you can decide what is best for you and your family. I know which path my wife and I have traveled, and it has been excellent. I look forward to waking up every day because I become richer in relationships and income each day. I am a Passive Income Hero, and I am here to Serve! Good Luck!
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Disclosure: I am not a financial advisor or money manager, and any knowledge is given as guidance and not direct actionable investment advice. I am an Amazon Affiliate. Please research any investment vehicles that are being considered. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.
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