There can be many reasons why people are looking for ways to generate additional passive income. For example, you can experience that your primary source of income is not sufficient, or is entitled to a high degree of variability or its sustainability in the future is uncertain. You want to develop a secondary source. Or, you are unhappy with the current return on savings. The savings rate is currently so low. You want more active use your assets. You want to let your money work more for you.
In my case it involved a combination of several factors. Firstly, I have
plenty of time, Because I retired at a very young age and I do not
intend to develop further activities in my "old" field. I desire the
flexibility with where and when I want to "work". Secondly, I have some spare money, that I want to let work more actively for me. And finally, I
experience a certain degree of uncertainty regarding my financial
future caused by the current economic developments.
In my next post, I will explain how I've dealt with my quest to
generate additional passive income.