Passive income is all about having an investment that doesn’t require you to spend much time managing it. Such an income stream can effectively improve cash flow and act as an alternative to the primary income source, ending sole and risky reliance on one source of income. “Don’t put all your eggs in one basket,” true that! The financial freedom that comes with multiple passive income streams is matchless; it mitigates the risk of landing in troubled waters with one sudden mishap. On top of that, one doesn’t need to invest much time in it. Financial coach Michael Hoffmann emphasizes being financially free with multiple intelligent investments.
Financial freedom, for Mike, is much more than having a bulky bank account. He approaches wealth and financial freedom from a unique viewpoint, where wealth should enable one to spend more time with family and cherish small moments of happiness and contentment. Being able to take your kid to the park and live a life of freedom and flexibility are the perks that come with financial freedom through multiple passive income streams, and that’s why Mike is so keen about it.
Expanding his holistic view on financial freedom and wealth, Mike says, “Imagine doing whatever you want whenever you want. That’s financial freedom.” Spiritual, physical, and mental health is more important than amassing money for luxuries. It’s not just about putting an end to the overwhelming 9-5 corporate grind; one needs to realign ideas, wishes, and goals. It’s important to realize the worth of small moments of happiness and small achievements if you want to liberate yourself from the shackles of consumerism that can suck the light out of you and still leave you discontent and unhappy.
Mike doesn’t just preach financial freedom; he shares practical passive income strategies and insights on Twitter and through his company, Passivepreneurs. He offers special, paid consultations to those who wish to secure financial freedom and not slave endlessly in jobs that leave little to no room for feelings, enjoyment, and relaxation. One of his favorite ideas in terms of passive income revolves around setting up vending machines at crucial routes. He helps his clients find the best suitable vending routes and make easy, effortless money at a meager investment.
From bitcoin to eCommerce stores and everything in between, Mike helps his clients make profitable investments to create multiple passive income streams for financial freedom. He seeks to enable more and more people to break free from oppressive corporate cultures and enjoy life at its best.