The Value of Passive Income
This past Sunday afternoon, I was enjoying the pleasant weather and working on rebuilding the fence at House 9 when I received an email notification from my day job for an all company meeting early the very next morning. “That’s strange. I bet the company just got acquired,” I remarked to Mrs. DIY Landlord. Sure enough, a quick search on Google revealed that just 30 minutes prior the oldest technology company in the world had announced its intent to purchase the company I work for in a deal valued at $34 billion, the third largest acquisition of a technology company ever in history.
Going through an acquisition was not new to me. In fact, of the seven companies I have worked at in the last two decades, I ended my employment at every company except one due to an acquisition. Acquisition announcements are typically followed by widespread panic as everyone tries to come to terms with the massive uncertainty they are suddenly confronted with. So I was not surprised when my phone started beeping non-stop with one email notification after another as co-workers speculated on the upcoming doom and gloom.
I, on the other hand, felt not even a twinge of panic. The reason for this is that a little over ten years ago, I planted a seed in my mind that I wanted to build an alternate source of income outside of my day job so that I would never be at the mercy of any employer. Since that day, through a tremendous amount of sweat and tears, I have cultivated that seed of an idea into a tangible stream of passive income generated by my investment in single-family rental properties.
During the past ten years of my DIY landlord journey, challenging times sometimes made me question whether the pursuit of an alternative income source was worth it. This past SundayI found my answer, and it was an unquestionable and resounding “YES!”. The past decade of hard work is what now affords me complete peace of mind at a time when there is the greatest uncertainty in regards to the future of my employer.
Regardless of where you are on your pursuit for passive income, stay the course and know with 100% certainty that one day you too will look back and congratulate yourself for a path well chosen.