What Passive Income means to you may mean something different to others. Darlene and myself want to have many streams of passive income built up for our Financial Freedom plans. Passive Income if you don’t know is Income that you make with out going to work or doing work to get paid. Yes, maybe you did work once to do it but then after you do it you could be making money off that constantly the rest of your life.

What’s nice is that some streams of passive income once they are in place can take little to none effort from you. I will always give most of our streams of passive income some love, maintenance and effort to grow them even more.

For instance, let’s say you write an e-book and put it on Amazon.com. You did the work once when you wrote it and then you did a little work uploading it onto Amazon. But you have the chance to be selling that book for the rest of your life with no more work from you. That’s good living and that’s Passive Income.

We are at 35%

Our current streams of passive income are about 35% of our current expenses. That is not counting any money that our Retirement Account’s are making for us.

When we are older, we could also have Darlene’s Pension Check each month and both of us receiving Social Security. We also want to have as many other sources of passive income streams so we never have to have a job again.

As always, I am not giving you any Financial Advice and you should seek advice from your Professional Advisors to see what is best for your situation. See my Disclaimer at MillsWay.com. This is for entertainment only.

Passive Income Streams we cover in the Podcast.

I like to read books and one of the first books I read that got me really fired up about creating passive income streams was Rich Dad Poor Dad by Robert Kiyosaki. It is one of my must-read books we had our boys read.

Let me know your thoughts about this blog and let me know of others you would like me to do in the future. I feel we can all learn from each other. That is why I am in the helping people retire early, enjoy life more and be more successful. Also, please see my Disclaimer page.

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