DEAR WORKING PROFESSIONALS: WE SHOULD WORK TOWARDS PASSIVE INCOME

 It is the desire of every working professional to widen their income base. A number of working professionals wake up every day to meet their financial aspirations. The major question is, is this easy? Probably not. The cost of living is increasing every day yet we have to survive. This calls for extra effort. It calls for brainstorming on ways through which we can widen our income base.

A few days ago I happened to be part of a discussion where a group of young working professionals were discussing the challenges that they face in the competitive job market. One noted that the cost of living is high and his salary was not enough to meet the expenses. So in this case what is the solution to this predicament. Rather than suffer in silence it is a wise move to candidly discuss the solution.

The solution to the financial shortfalls that working professionals face is widening their income base through passive income. Passive income is one that a working professional earns while not physically engaged in work. Since most working professionals are committed at their workplaces it is critical that they learn about those income streams which are safe and can earn them interest. In a rash to make more money many employees have invested in risky and unregulated investments and have made losses. 

A working professional must intentionally seek guidance on responsible investing for example in financial markets. There is  a working professional who earns some good money by investing in unit trusts, Treasury Bills and Bonds. He began slowly with little income but has been consistent. Today we are privileged to have a lot of financial literacy and this enhances our capacity to make better financial decisions than in the past. All working professionals are unique and they should invest in venture that fit their risk tolerance and aspirations.

Investing in passive income is possible and it begins now.

For individual and corporate financial literacy training contact:

Coach Phillip Kiryowa 

Personal Finance Coach( CPC)

Certified Master Trainer, Bank of Uganda 

Founder, Advanced Empowerment Link

0752615916

For Financial Freedom and Sustainable Enterprises.

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