Hello, beautiful people from across the lands! Let the dreaming continue! So far in this series, I talked about my hopes of reaching financial independence and homeownership. Today I want to talk about a tool that could possibly catapult those dreams of mine and that is becoming an investor. I just want to start off by saying I have absolutely very little knowledge when it comes to investing. But what I do know is that it is one of the building principles to acquire wealth.
Investment Types
There are various ways to invest and I haven’t really figured out which way I want to getting started in. Understanding the difference between a stock, bond, mutual funds, CDS and even real estate are all forms of investing. I know one of the big things now is a cryptocurrency. All of this is currently over my head but I am determined to not allow ignorance to keep me broke. One of the most attractive things about investing is the creation of passive income verse linear income.
Linear VS Passive Income
I am all too familiar with linear income which is trading time for money. The amount of time I put into work equates to what I bring home. You cannot build wealth with just linear income. I am using a linear income to build the dream of creating passive income. With passive income, you put the work in upfront and it continues to make money without the need to physically put in the time. Understanding investments and putting an actionable plan in place will fuel the journey to financial independence. Currently, I have no one in my immediate network to show me the ropes but that’s no excuse. We live in an age where information is at our fingertips.
No worries I’ll be sure to share here when I know you’ll know. We are on this journey together!
Until next time dream, believe and achieve.
