Having good sources of passive income is always important. If we want to be financially free, we should have a few passive income sources and those passive income sources should also be stable and safe. It is not very easy to achieve such passive income sources. The income sources can be in both the digital world as well as in the real world. It is always good to have enough sources in the real world too.
If we don't have a way to withdraw money from our digital wallets or digital sources, it is again a risk. Having a passive income source in our real world is safe because it is easily accessible. Sometimes it may not be as good as our digital income source but still, it is important to have some passive income source in the real world.
There are a few factors that can affect our passive income source. Though it can be hard but achievable to get some good passive income source, sustenance is the biggest problem. There are several reasons why our passive income source cannot be sustainable. I would like to list a few in this article.
Natural disaster
If there is a natural disaster, we would end up spending a lot of money to recover from that. It can be considered an unexpected expense. Sometimes these expenses not only affect our spending but can also affect our passive income source too. Imagine a situation where our house or apartment is affected because of a natural disaster. It can be hard to recover from that natural disaster and we might have to spend a lot of money to get our passive income flowing back again.
Inflation
This is something that is really hard to predict and plan. Currently, some countries are having this problem and it is also creating a recession. We had a serious crash in the stock market a few years back because of inflation and it is expected that we might have a similar crash again because of war and inflation. This is another biggest reason why we may not be able to achieve passive income easily. If there is too much inflation, the cost of living will increase and we may not have sufficient passive income to sustain that.
I'm not trying to be very negative here but in general, the passive income sources have to be perfect so that even in difficult situations they shouldn't get affected. That's why creating a good source is very difficult to achieve but once achieved, we are safe. Having multiple passive income sources is another best strategy to keep things going. One of the most significant advantages this gives is that even if one source is affected, another passive income source should be a backup for us. Not just the income stream but the source should also be different so that one is not affected by the other.
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