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Sunday – February 12, 2023
Welcome to today’s edition of the Dumbass Newsletter! This is day 16 of my attempt to send a daily email newsletter. I’m still climbing the mountain, as another euphemism to say that this thing is still going, Lol… Let’s go!!
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Passive Income Vs Active Income: The Key to Financial Freedom
While massive passive income is always the ultimate goal… it is wise to consider ways to use passive income in conjunction with active income to eventually reach that ultimate goal.
Passive income and active income are two different forms of income generation. Passive income is generated through investments or other means that require little to no effort from the individual, while active income is generated through a traditional job or through self-employment. A good financial strategy should utilize both passive and active income to achieve financial freedom.
Passive income provides a steady stream of income, allowing individuals to live off their investments, while active income provides the necessary funds for everyday expenses. By combining both forms of income, individuals can maximize their earning potential and work towards financial independence. A balanced approach to generating income is crucial to achieving long-term financial success.
Here is a really good article by Carter Moore that explains the differences and how each strategy should be used together to achieve financial freedom…
“The only difference between ordinary and extraordinary is that little extra.” ~ Jimmy Johnson
See more inspirational quotes like this on the Dumb Passive Income Facebook Page
Teen rescues an 83-year-old man and his dog after their car plunges into icy lake
Thanks to an Iowa teen and four other men, an elderly man and a dog were rescued over the weekend after their jeep plunged into a local lake. The 83-year-old man, Thomas Lee, along with his dog Cooper was going to his son-in-law’s fishing shack around 3 pm when his car fell into East Okoboju Lake… (Read the full story here)
On this day, in 1809…
Abraham Lincoln was the 16th President of the United States, serving from March 1861 until his assassination in April 1865. He was born on February 12, 1809 in Hardin County, Kentucky, and is widely regarded as one of the greatest American Presidents for his role as leader during the American Civil War and for his Emancipation Proclamation in 1863, which declared slaves to be free. Lincoln’s legacy as a champion of liberty and equality continues to inspire people around the world to this day. (Read the full story here)
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