There are ways to earn passive income not only from real estate and stocks as we know it, but from the internet, with no investment skills as well. For clarity sake – Passive income is when the money works for you, not you work for money. The moment when passive income is big enough to cover all our expenses, people reach freedom.
The bad news are that we need to work very hard for the rest of our lives because mostly we work for active income. However, there’s a minority in our society that works for pleasure and generates more money in less effort. They work smarter, not harder.
To be able to really live the way we want and to work for joy and not for need, for my opinion we must create passive income in that way or another.
Real Estate or small business? Too risky.
When speaking in terms of passive income, these “ideas” pops up quickly to mind:
– Real estate
– Paper assets
But there are some problems with those investments. You simply don’t know if it will work. You can’t change a lot when you buy stocks or a property. You can only influence on a few parameters before the purchase.
Many investors don’t succeed or lose money simply because they are amateur investors. There is a huge difference between them and professional investors who actually make money out of every single investment and build their passive income.
To become a professional investor, you must build and invest in yourself first. In other words, teach yourself everything about money and investments, portfolio, books and, unfortunately people prefer to skip this step, or simply not to start this process at all.
Want to become a professional investor? Invest time and money in yourself first.
What Keeps Most People Away From Investing?
They simply don’t like the idea of creating passive income by investing.
These might be some reasons to this:
• Most of us don’t have enough knowledge, or any knowledge at all when it comes to investing and because of that we don’t even think about starting it.
• Most of us don’t have the initial investment to start it. All of our money just “goes” away.
• Fear of failure, or in that case, fear to lose money.
One of the very first things is to know exactly where your money goes. When we really don’t pay attention to how our paychecks are gone, then we need to start from at least tracking our finances.
So What Is Best?
Passive Income From The Internet:
This might be strange, but in fact the internet only gets more and more comfortable and convenient for building business. Your Own Business.
The same as Real Estate but online, write blogs and posts, promote products and services, get an audience and earn money.
Again, it’s not an “easy money”. It’s about building a business out of nothing, building authority which over time will turn into your asset.
In that case, there are two things you should know :
– How to build a website
– How to get revenue from that.
That option is probably the cheapest of all, you can save a lot of money if you build a website online than to save for initial investment in real estate or even the stock market.
I think that people would feel more opened to the opportunity to create passive income from the internet rather than go on investment. (I feel much more comfortable that way).
The question is, where and how are you going to find the best place to build a website and create all those pages and blogs that will generate you income 24\7 ?
First of all, you can go and see my post Network Assets, which will be a major step for you because I have included there a video of how to build a website under 30 seconds.
Second thing you can do is to check my Wealthy Affiliate review, which is, for my opinion, the best place to start an online business – Everything + the first steps for beginners are included there also, so it’s up to you. (it’s a fun thing don’t worry).
There are couple of things you can also do :
For those of you who got really excited about investment here are few things I can offer you to start taking action on:
Read some books for god’s sake :
– Rich dad poor dad by Robert Kiyosaki
– The Intelligent Investor by Benjamin Graham
– Buffett: The Making of an American Capitalist by Roger Lowenstein
– Second Chance by Robert Kiyosaki
– Trump : the art of the deal
– Rat Race Escape Plan by Andy Tanner (ebook)
• You can invest in coaching programs. There are many coaching programs for investing, I personally know one which I definitely trust and it’s the RichDad coaching programm.
You can get information about it on their website Richdadworld.com and register there for free.
Passive Income + A Plan For Life
I gave you two very general subjects (marketing and investing) from which you can generate passive income after a period of hard work and dedication.
In both cases, the best way is to earn passive income + active income from the job you love.
You love your job but the money is not enough – good, start investing or build a website – both will generate passive income in the long run.
You hate your job but the money is good, well, again start investing or build a website in your free time, to quit the job you hate, and do the things you love.
The good thing is that we have the tools around us to change our lives. We just don’t use them.
We can chose whatever we want, We are the creators of our lives.