Can you work for life time? even if consider the answer to this Question as Yes still
We need to consider few things which may not allow you to do so , What are those things?
1 - In case due to some reason your Body is not fit enough to perform the work
Which you wish to do
2 - Your body might be Fit but the mind state is not normal i.e In case you are going
Through some mental disorder then in spite of the better physical fitness you cant do
Anything. we know that all the actions we do are controlled by our brain , its at front
but what creates the desire setup for brain ? Off course our mind. It givens instruction
to brain for whatever it wishes to .. Then brain defines the method to do it... And
get it done from our body by controlling it
3 - In case you have fit Body & sound mind but there is no demand for the work you do
These are some of the scenario which can make your earnings zero , one more thing you must
know, This can happen in any stage of our life ? Yes, its possible.. Because of some
Unexpected events we may not able to work normally..
So its warning thing for all of us that what we will do if such thing happens to us !
How we will manage the money for our regular living and expenses?
How the Emis / Other liabilities if we have any can be paid?
what about the education / marriage of our kids ?
Even if we have medical insurance still we will have to pay premiums of it regularly so
From where this money will come ?
There are lot of Needs we need to fulfil till the time we are alive & for most of them
We need money ,
So what is the solution! Well the way to solve this is having a parallel income source
what is that ? you might have heard about it manytimes
Create passive income source which can give you the inflow equal to your Active earnings , For ex . if your monthly income from all the sources is 1 lakh p m then you will need to built indirect income which will be equal to 1 lakh / month . You will say
Its difficult to create it and what exactly we will need to do ? what are the options to create passive income ?Obvisouly there is not just one option to have your indirect income , Today there are many such way outs , But today i will discuss one of the better ways -- It's equity investing or stocks , Many of you will raise your eyes after hearing this ! some may try to point out that How their friends / so called relatives or general investors have lost their money in the stock markets , will share heard things from the Webseries of Harshad mehta Scam 1992 , But let me tell you that things have tremendously changed since then and also there are still lot of investors who have survivied sucessfully in the market crashes during the 20-25 years . Coming back to creating passive income using stocks , the route which you can choose will depend on some parameters like -
What is the income source for you
your current assets specially in non tangible catagory ( Ex. financial investments )
Your Current Risk profile which will depend on your Age and other things as well
your expectations and durations planned for building the Passive income
These are few points to check - once you are done with it then comes the method of investing in stocks , Yes i know there is only one method to buy shares Today , But i mean the strategy or road which you will choose for doing this investments . This will define the list of stocks which you want to have in your Portfolio of Passive income , You can study Correctly or Take help of the Right Advisor to create the list . Once its done then the final thing is how you will be investing in it ? Whether you have some ready funds which you want to use for buying all the planned list of stocks at once or you want to buy it after regular time intervals , Just like in case of Mutual fund Sip's where your investments is done on the predefined set of date and amount . You can choose combination as well of it suits you to take step towards building your Second income source for future I will share some more details in next article about stock selection and portfolio building .