Can A Self Employed Earn A Good Retirement Income From Passive Income?

source: ayietim
12

It’s easier for the camel to go through the eye of a needle than for a self employed to earn a good retirement income. A self employed active working income depends mostly on erratic levels of motivation, productivity, determination and persistence. Several months may return dismal income, barely enough to meet current maturing liabilities. A self employed in this situation will have nothing to set aside as retirement savings. Periods of zero retirement saving will definitely affect a nest egg adversely. The good news is, a good retirement income could be guaranteed by investing surpluses earned in prosperous periods in passive income ideas. Don’t passive income ideas demand work? They do. The best time to do the work of setting up a passive income project and get it running is during active working years. Otherwise, it would be hard to earn a good retirement income. A considerable amount of work must be done to get a passive income idea beyond the break even point. Thereafter, all things being equal, one should expect a regular cash inflow without putting in a considerable level of work.

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