What happens if you quit your job?
It’s not a trick question.
If you skip work tomorrow, the day after that, and forever more, what’s the natural consequence of your decision?
You stop receiving a paycheck, right? That ain’t cool.
I get why companies refuse to pay ex-employees. But I’m sayin’ though, I don’t like it.
And that’s why I constantly scour the universe for strategies that move me closer to a monetary fortune so large that work becomes optional.
You may sacrifice an ungodly amount of time and effort to rack up the money needed to acquire income generating assets. Beyond your initial cash outlay, however, you can relax while reaping the financial benefits of your investments.
As an added bonus, passive profits receive favorable tax treatment. Meaning, Uncle Sam puts his grubby mittens on smaller piles of your cash.
Consider this. Payroll taxes, e.g., Social Security and Medicare, historically, amount to 15.3% of an employee’s active income. You pay half, your employer pays half. The self-employed have the good pleasure of paying the entire 15.3%.
Passive income often enjoys reduced federal income tax rates AND bloodsucking payroll taxes don’t apply .
By now, you’re wondering, “How do I get in on some of that workless-money-making action?”
Patience, grasshopper. We’ll go over the specifics next time we meet, so stay tuned.
Click on the link to learn more about passive income streams.
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