Passive Income For The Average Joe – Is It Attainable?

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12 Oct 2024

The Apex Of Income
Passive Income is the rarest and most sought-after form of income. However, many use the term rather loosely. For example, many refer to owning and renting real estate as passive income. Although it can be far less demanding than your average 9 to 5 there are still active aspects to this particular income model. Why do you think there is such a thing as a property portfolio manager? Maintenance and tenants are an ongoing form of labor, depending on the size of your property portfolio.
Like any business, responsibilities can be delegated to employees, reducing the demand for one’s time. Not many passive income ideas are entirely passive. They all require a level of oversight and effort at some point. There are passive income ideas, especially within the DeFi space that are entirely passive. Staking is a good example, as an investor locks up their assets and returns to claim rewards whenever they like.
This is of course truly authentic passive income. There is zero effort or attention required. As a staker, you are essentially printing money. No work, no effort, and no tenants. This is the ultimate form of passive income. The reality is that the average Joe has to work his way to this level of passive income. This is primarily achieved by semi-passive models and incorporating passive income models into active models. It does require time and effort. However, this is key in building towards a goal.
Dedication To The King
When building passive income models, active and semi-passive models serve and enhance the apex model of authentic passive income models like staking. Another passive income idea that is entirely passive is delegation on the Hive blockchain. It’s simply a case of delegating and earning. In other words, these alternative income models are utilized to “feed” the authentic model. They provide the capital or collateral. They provide the growth that will increase the truly passive income over time.
This is the path of the average Joe. Over time, he increases his passive income by working on his active and semi-passive ideas. Someone in a privileged position can deploy capital and begin earning yield. However, this is an option for a select few. In time an average Joe could find himself in such a position, depending on his strategies and the assets he utilizes. Building a passive income mechanism is difficult for the man on the street. Furthermore, it requires time to mature.
Passive income can appear elusive to many. However, the key is to begin where you are with what you have. Compounding growth is an amazing dynamic. Keep working on your ideas and in time they produce fruit. Sure, this will be in the form of supplementary income. To arrive at a point where your passive income is a salary replacement takes time
Compounded growth and bull market returns produce staggering returns over the long term.
You always hear of those who wish they had bought Bitcoin or Ethereum at a few cents. Similarly, refusing to build in the formative stages of a financial revolution is equally as foolish and will be revisited by regret. These people praise you in the future and mock you in the present. They are unable to think ahead, while patiently exercising discipline. A wrong mindset cannot appropriate the correct course of action.

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Final Thoughts
Passive income may appear out of reach. However, there is a measure that is within your reach today. Is its potential valuable enough for you to begin? That’s the question. Envision future valuations with realistic long-term extrapolations and strategic approaches. You will be surprised at what is possible. The journey begins by getting started, it’s that simple. All the best, enjoy your weekend, and I will see you next time!

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Disclaimer
First of all, I am not a financial advisor. All information provided on this website is strictly my own opinion and not financial advice. I do make use of affiliate links. Purchasing or interacting with any third-party company could result in me receiving a commission. In some instances, utilizing an affiliate link can also result in a bonus or discount.
This article was first published on Sapphire Crypto.