It’s becoming a real hot topic on creating a Passive income now a day due to the economy crunch. Most of the people are focus on their regular income than the passive or residual income and the salary what they are getting to day will not change overnight. There is no doubt that this is an important aspect of everybody’s life. Though many people do not spend time thinking about what their salary will be if they did not go to work due to some reasons. Every time people incline to forget that they will get their active income till they are active. For an example of active income is working for somebody.
This is where passive income comes into the
picture and passive income does not eat up your time to generate the additional
money. Passive income indicates to a regular income expected on a regular basis
and it can be maintained with a little effort and time. You know the
magnificence of passive income; the revenue is generated even if you are not
working dynamically.
The power of passive income:
I believe this the right time to think about
passive income and how it works; hope everyone will agree with me that we do
have only 24 hours in a time like the celebrities and big business giants. Just
think about them how they are making money while they travel, play or on a
vacation. Very simple they created a network of people who works for them to
create a big wealth. Of course it requires an initial effort; you have to
create a system to work for you to create a passive income. Initially the
passive income is directly proportional to time which you investing to generate
it. As mentioned passive income is not a onetime lump sum amount like sale of
your stocks etc... But it is a source of income which can be expected as
regular income ultimately you can lessen your involvement in those projects and
still get the income.
Why Passive income?
ü Are you willing to work more than 40 hours a
week the rest of your life?
ü Do you still need someone creating a big
wealth by you?
ü Are you interested in tension free life?
ü Early retirement
ü Looking for Freedom
Everyone will have different reasons to start
their passive income model, if any of these reason you have it in your mind,
yes this is the right to think about it.
Who creates the passive income?
ü An insurance agent is creating a passive income when a client renew the policy
ü An author gets paid royalty whenever someone buys his book / article.
ü Whenever you franchising your business you will get paid by the way of royalty
ü An investor who gets the passive income from his stocks as dividend, Bonus etc...
Again there are many business models are
available to make passive income, generally passive income model requires very
less investment and you can make unlimited amount of money with minimal effort.
What is sought to generate a
passive income
Generally Passive Income business models do
not require any qualification and experience, however it does require a few
important things to succeed and create a huge income.
ü Being
a good dreamer
ü Willingness
to learn & listen
ü Involvement
in business
ü Meeting
new people every day and creating a network
ü EnrichPositive Thinking.
The
biggest advantage is you decide your pay check, need worry about stringent timings.
As
you can see there are multiple business options to create a Passive income, let
see few of them, whenever time permits we will see it in a detailed way.
1. Join
as an Insurance agent
2. Multilevel
Marketing
3. Blogging
4. Creating
E-Books / article
5. Tutoring.
6. On line Jobs / Internet Jobs
The
important factor is selecting a business model is completely depends on the
level of interest and the availability of time.
Closing words:
When
you approach people for additional income, most of the time they do not take
more interest on working for a secondary income or creating a residual income,
it does not mean that they do not require additional income, it means that they
are not aware the opportunity to explore.
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