Making money work for you instead of always working for money comes down to building a streams of income that don’t rely on your time alone. I think, it’s not about quitting your good paying job overnight, but is all about you using the money you earn to create assets that pay you back overtime.
The most practical way to start is by saving consistently and investing wisely, it could be in real estate, digital asset like bitcoin or even high yield savings accounts to start, the whole idea is just to get your money moving, not just moving but moving effectively.
But financial freedom in my own view, isn’t just about investing in traditional assets. You can as well build income generating systems, which include; an online store, a digital products or a content channel. It seems these will take your effort up-front, but they can generate income without you needing to be involved every hour of the day. Though, I’ve seen people starting e-commerce stores, affiliate marketing, freelancing by using platforms like Unified, Upwork, fiverr or freelancer which helps turn a business into something closer to passive income.
The mistake i see from a lot of people, is by chasing “Passive” income without building any foundation. You have to earn, save, invest, and then reinvest your gains. It’s not a joking matter, with time it will compounds to something huge.
The goal is to shift from being paid for your time to being paid from your assets or systems.
There’s no harm in starting small, start a little then use your income to buy things that appreciate or that generate cash flow, not just things that will cost you more like every month or a year.
Very importantly………..
keep learning, it’s a mindset shift that happens gradually.
You are absolutely right on this, creating numerous stream of income that doesn't rely heavily on your time is a great way of achieving financial freedom, I've seen people work for money all the days of their lives, they have practically become slaves to money and at the end of the day they end up with nothing. Money can be made to work for you and this is a mindset shift that requires patience, discipline and the willingness to learn and grow, and instead of chasing passive income we should think outside the box by investing in traditional assets that will be generating income every day, I don't rely on the job I have now because I will get old someday and my investment will be my saving grace.