“Here’s Why I LOVE Passive Income (and Why You Should Too!)”

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“Here’s Why I LOVE Passive Income (and Why You Should Too!)”

Million Mile Secrets“Here’s Why I LOVE Passive Income (and Why You Should Too!)”Million Mile Secrets Team

We devote thousands of hours of research to help you get Big Travel with Small Money. You support us by signing-up for credit cards through partner links which earn us a commission. Here’s our full Advertising Policy.

Meghan:   There are only so many hours in a day – so many days in a year – and so many years in a lifetime.  So why not make the MOST of it by actually providing yourself with the opportunity to choose what to do with your time?

Heres Why I LOVE Passive Income And Why You Should Too
Think There’s Wi-Fi There? Passive Income Gives You the Opportunity to Work From Almost Anywhere!

That’s where passive income comes into play!

What Is Passive Income?

Passive income is income you receive automatically, with little work (aside from the upfront work you’ll need to do!).  Active income, in contrast, is earned by directly trading your time for money.

For example, in any hourly or salaried job, the amount of money you make is directly related to the time you spend working.

With active income, when you don’t work, you can’t earn.  That said, actually creating a passive income stream is easier said than done.  But here’s why it’s worth it.

4 Reasons Why Passive Income Is Awesome

1.   Reduces Worry About the Future

Winning the lottery would be great.  But let’s face it, that’s unlikely to happen!  Instead, think about ways to create passive income for yourself.  Because not having to worry about money can be a huge stress relief!

2.   Allows You to Do What You Love

Life is short.  And in my opinion, working a ho-hum job until you’re 65+ in hopes of eventually retiring sounds pretty dreadful.  In fact, lots of folks hate being a part of the rat race!

Heres Why I LOVE Passive Income And Why You Should Too
I Love the Thought of Having More Time to Help With Causes That Are Near and Dear to Me

Earning passive income gives you the freedom to work to live, not live to work.

Maybe you’ve always dreamed of learning how to paint or want more time to volunteer with your favorite charity.  If you’re in charge of your own schedule, you can manage your time however you see fit!  That’s another great aspect of earning passive income.

3.   Allows You to Live and Work From Almost Anywhere

If you read this blog, you probably have a passion for travel.  And if you have a regular 9 to 5 job, you likely don’t get much vacation time.

But, if you can make enough passive income to cover your living expenses, you have the ability to live and work from anywhere!  Without having to ask your boss for time off or worry about how many vacation days you have left. 😉

4.   It (Sometimes!) Provides Tax Benefits

Passive income streams like real estate investments can not only earn you extra income, but can provide tax benefits too!

If you own a rental, for example, you can write off expenses like the cost of repairs, utilities, and insurance premiums, which will save you money by reducing your taxes.

Heres Why I LOVE Passive Income And Why You Should Too
Real Estate Investors Can Appreciate the Benefits of Earning Rental Income

If there’s a mortgage on the property, you can also deduct the mortgage interest you paid over the course of the year.  And that can really add up!

Bottom Line

Million Mile Secrets team member Meghan believes earning passive income is one of the best ways to set yourself up for financial success!

With passive income, you can stress less about the future, and take more time to enjoy the things you love.

What are your favorite ways to earn passive income?

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Editorial Note: We're the Million Mile Secrets team. And we're proud of our content, opinions and analysis, and of our reader's comments. These haven’t been reviewed, approved or endorsed by any of the airlines, hotels, or credit card issuers which we often write about. And that’s just how we like it! :)

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You sounds super oblivious to the real world. This article is a waste of ether in the blogspace.

Funny that my + clicks count but when I want to enter a – click I am told I have to “enter the site” ?

Hi AY!

Sorry to disappoint. I understand these types of posts aren’t for everyone!

But I do truly believe in the concepts I mentioned. And wanted to share the idea of passive income, as a way to spark interest in others who may not have thought about it seriously before.

What was the point of this blog post? What will it be next? “Here’s why I love good health (and you should too).” Make sure not to include any information or examples of good health or how to achieve it.

Why in the above photo did it take six people to plant a four-foot tall tree?

The topic can be interesting, but more examples are needed, links to former articles on the topic, references to books or blogs or podcasts for more info.

Unless your giving me new ways to make passive income, stop the click bait!

I sell and install point of sale devices and credit card processing. The bulk of my income is credit card residuals. I love it as I’ve been blessed with profiting at both ends – I’m been travelling cheap since the 70’s (I was in the travel business in the 70’s and 80’s) and got into points and miles in 1993. Between my wife and I, we burned through 5 million points across various programs as well as a number of free night certificates in the last 5 years. Yes, I keep a spreadsheet with cash price, points and cash actually paid, and cents per point realized.

This is highly disrespectful of your readers’ time. I don’t think anyone is going to say that they don’t love passive income. You have produced and published nothing of value here. There is nothing wrong with this topic, but please take the time to think of how your articles can benefit the reader, and learn to deliver value through deeper thinking.

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