{"id":1841,"date":"2015-04-08T00:15:21","date_gmt":"2015-04-08T08:15:21","guid":{"rendered":"http:\/\/www.cultofmoney.com\/?p=1841"},"modified":"2015-04-07T10:47:57","modified_gmt":"2015-04-07T18:47:57","slug":"the-value-of-hard-work-when-building-income","status":"publish","type":"post","link":"https:\/\/www.cultofmoney.com\/the-value-of-hard-work-when-building-income\/","title":{"rendered":"The Value of Hard Work When Building Income"},"content":{"rendered":"

\"Are<\/a>How many times have you heard or seen one of these things \u2013 \u201cMake hundreds of dollars by working one hour a day. Build residual income in your spare time. The secret to getting rich with penny stocks.\u201d<\/em><\/p>\n

If you spend any amount of time online then probably a lot.<\/p>\n

The promise of easy money and passive income that requires no upfront time or capital at all is plastered everywhere. And I\u2019ll admit, it\u2019s easy to want to click over and see how you can become an instant success too.<\/p>\n

Only life doesn\u2019t work like that.<\/p>\n

The truth is, you can<\/em> build \u201cpassive\u201d income and you can<\/em> earn a good living. Unfortunately, there\u2019s no secret that will allow you to do this in a couple hours of time. The secret to success all boils down to one thing: hard work.<\/p>\n

What Earning a Good Living Requires<\/h2>\n

In today\u2019s world I\u2019m a firm believer that you don\u2019t have to have a college degree to earn a good income, you don\u2019t need a ton of letters behind your name, and you don\u2019t have to be the very best at what you\u2019re doing.<\/p>\n

All you need is patience and a good work ethic.<\/p>\n

Earning a good living requires a couple of things. First, you have to be able to determine your skills. Second, you have figure out how to apply those skills to a career or business. Third, you have to work super hard to build up your name and subsequently, your income. Last but not least you have to continually learn and continue to work hard.<\/p>\n

It really is that simple. And very rarely is this ever a quick process.<\/p>\n

What Building \u201cPassive\u201d Income Requires<\/h2>\n

I\u2019m not going to lie \u2013 I love thinking about passive income.<\/a> I want to build passive income streams myself. BUT I realize that passive income doesn\u2019t start out passive.<\/p>\n

One example would be building a business. Before you could hire a team of people and a manger to oversee your business you\u2019d first have to be bringing in a great enough income to warrant hiring people. Could a business be passive? Yes, but only after a bunch of hard work.<\/p>\n

Next let\u2019s look at investing. Investing is a way to build up a passive income over time but you need two things to make that happen: capital and patience. How are you going to get that capital? Hard work.<\/p>\n

Here\u2019s the Secret to Success<\/h2>\n

There\u2019s not a single income stream in the world that doesn\u2019t first start out with hard work. That work may not be directly involved with a particular income stream but it still happened somewhere in the background.<\/p>\n

(For instance, let\u2019s say someone built up a business and then used the proceeds to buy a rental property<\/a> that is professionally managed. The rental income stream could now be considered passive but how did the investor get the money to invest in real estate? Hard work.)<\/p>\n

There really are no overnight successes. What you might think is instant success or easy money for someone most likely boils down to years of work, which includes a whole lot of failures thrown in the mix.<\/p>\n

If you want to build your income then don\u2019t look for the easy way out. Deep down you know what to do so go ahead, take that first step, and as Nike says, just do it.<\/p>\n","protected":false},"excerpt":{"rendered":"

How many times have you heard or seen one of these things \u2013 \u201cMake hundreds of dollars by working one hour a day. Build residual income in your spare time. The secret to getting rich with penny stocks.\u201d If you spend any amount of time online then probably a lot. The promise of easy money […]<\/p>\n","protected":false},"author":4,"featured_media":1842,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[5,12],"tags":[476,475,143],"acf":[],"_links":{"self":[{"href":"https:\/\/www.cultofmoney.com\/wp-json\/wp\/v2\/posts\/1841"}],"collection":[{"href":"https:\/\/www.cultofmoney.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cultofmoney.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cultofmoney.com\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cultofmoney.com\/wp-json\/wp\/v2\/comments?post=1841"}],"version-history":[{"count":0,"href":"https:\/\/www.cultofmoney.com\/wp-json\/wp\/v2\/posts\/1841\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.cultofmoney.com\/wp-json\/wp\/v2\/media\/1842"}],"wp:attachment":[{"href":"https:\/\/www.cultofmoney.com\/wp-json\/wp\/v2\/media?parent=1841"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cultofmoney.com\/wp-json\/wp\/v2\/categories?post=1841"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cultofmoney.com\/wp-json\/wp\/v2\/tags?post=1841"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}