I used to believe that building passive income was the absolute best way to achieve financial independence. This idea of having passive income was so attractive to me earlier on; I told myself that I’d never work on any project that doesn’t pay me for the rest of my life. And that has been the path I’ve taken for the last three years.
A lot of time was spent on building passive income, some of our projects succeeded, many of the them failed. Although at this point I still have some stuff I worked on the past that continues to pay me until this day, but had I do it all over again, I would not have focused on passive income.
If someone is to build an empire of Adsense Sites, or long-term ppc campaigns and or start purchasing lots of rental property for instance (what I’ve tried to do) then you will end up with your monthly residual income. And you will be financially free, able to retire after a few years of building your nest egg of passive investments.
After joining the affiliate industry, which is for lack of better words, crazy, I’ve begin to think differently. It is not uncommon for someone to be able to generate a large amount of profit in a relatively short period of time and although what they have produced isn’t life-time residuals, they will come out ahead within a short period of time.
So much so, that the capital they were able to raise in 3-5 months, was now enough to invest in other projects. So I started seeing things a little differently, if you are able to generate $100,000 to $1,000,000 within a short time, you could then easily invest in passive income sources easier anyways. And you’d be moving a lot faster than if you tried to build passive income from the get-co. Because you’d now have capital to move even faster.
Which is better, $20,000/month net passive income? Or $1,000,000 in your bank account?
Besides. Who needs passive income if you have $50,000,000 in your bank account? You don’t need passive income at all, you’d have a fortune at that point. And I bet building the fortune was funner than trying to build a bunch of small little projects and slightly increasing your monthly net income over the course of a few years.
Again, passive income is still awesome and is one way to be financially free, Although any more, we don’t have time to waste. We’re not here to build a small amount of monthly income, we want to do big projects with high-impact and build a fortune and a large amount of prosperity.
I have been able to free myself from focusing solely on passive income projects now, and now we focus on building a fortune. I’d rather sell a company for $50 million than trying to build sites every-day, or buying 100 houses and renting them out. It is personally more exciting for me, and passive income is a sure-fire bet, but is is slow, and not that exciting.
Just keep this in mind. Building passive income is extremely slow, although building a fortune can be done quicker than you might ever imagined… think about it.
Passive Income, or a YouTube… a fortune (thats the difference…)