under<\/em>spends. They’re afraid to touch their nest egg.<\/p>\nPassion income alleviates the pain of spending. You get to work at something you love while also earning some money. And spending this money isn’t painful, unlike spending out of your investment accounts.<\/p>\n
Another benefit of passion income? If you’re able to generate ongoing revenue with work that you love — whether it’s part time or full time — you’re able to quit your career much<\/em> sooner than you would on a traditional early retirement path. If you can earn $1000 per month by building picnic tables, for example, that’s $300,000 less you need to save for retirement (given standard assumptions).<\/p>\nAs I near fifty, I’m still intrigued by the idea of passive income. I probably always will be. But the older I get, the more vocal I am that people should consider creating sources of passion income. Finding a way to earn even a little bit of money by doing something you love can not only be fun, but it can also help you reach retirement sooner — or make your current retirement less stressful.<\/p>\n","protected":false},"excerpt":{"rendered":"
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