You can then use the policy loan to pay for things
like additional passive income assets, pay down debt, fund a new business, or any other money making ideas you have.
I've chosen Dividend Growth Investing (DGI) strategy as a starting point to build long - term wealth and later on build on it to
add additional passive income tools in the kit for further growth.
Meanwhile, we now have the free time to
cultivate additional passive income streams to sustain us, continue working to earn as much as possible, and build a happier, healthier future for our family.
In this case,
additional passive income sources will allow you to pay off any of your debts earlier, save for your retirement, take an extended vacation this summer and perhaps even retire early.
If you are sitting on a large cash reserve in your policy, then gobbling up some investment properties or dividend yielding stocks to
create additional passive income might be an excellent decision.
If you're looking for another reason to lower your taxes or just add
some additional passive income, take advantage of the benefits of tax free bonds.
Of course,
any additional passive income I receive I will invest into the best dividend growth companies to ensure I'm participating in compound interest.
My purchase of 150 shares of Japan Tobacco provides me with
an additional passive income of more than $ 150 per year.
My purchase of 100 shares of Southern Company provides me with
an additional passive income of about $ 200 per year.