Many people have interests that double as a true passion. In fact, so passionate that they carry out tasks associated with this passion without any compensation. Often times we face barriers that may prevent us from living in our real passion. The most common barrier is money. You may want to start a non-profit organization, a charity fund or just volunteer your free time to those in need. The problem is that we need money to survive and the time we would allocate to that higher purpose is consumed working to make ends meet.
Things do not have to be this way for the rest of your life. Your life’s passion could not only be the way you provide for your family but can lead you down a purpose filled life. I often urge people to use what they are passionate about as motivation to improve other areas of life, in particular finances. If you can not get out of your own way without assistance than use another source as a kick in the butt.You may have wanted to improve your financial outlook for some time now, however the day to day always seems to get in the way.
My favorite vehicle for creating passive income is real estate. Let’s say you were able to amass a portfolio of 10 rental units over the next 10 years, that cash flow $4,000 per month after all expenses. Many of us can live off $4,000 per month. This now alleviates the pressure of needing a job. Your time can now be re-allocated to your purpose without the worry of wondering how you will make ends meet.
Try using your passion as the driving force and see how the results differ. Different things light a fire in different people for various reasons. The key is finding what starts the spark in you. Maybe it is starting that business you have always dreamed of or perhaps you want to rescue neglected animals whatever it may be, get to it! Use this passion and/or purpose to get you going on path to financial progression.