How to Create Passive Income and Retire Early

Well, after you read my last post you think a billion dollar net worth is way too realistic. Maybe.  The the lure is strong.

What if we just want to retire with $50,000 or so in passive income?

Do the following and see mastermind-university dot com :

-  Take profits.  When your stock shows a profit, at least sell the principal.  The market is tough now.
-  Buy into trends AND know what you own.
-  Investigate a lot of big dividend payers and bonds.  Don't limit yourself.
-  Spread your money around. 
-  Watch some inverse etf's and funds.
-  Be realistic regardless of what you hear or read.  The economy isn't great.  Be able to explain to your spouse, or kid why you made the investment you made.  Use facts, common sense and logic.  Admit mistakes. Admit it if your investments are too risky and make corrections.
-  Read about  investments.  What did the gurus read? What to MBA candidates read?  Get started.
-  Follow the news on your stocks and your watch list.
-  Have a competent MasterMind and a competent advisor cover your blind spots and expand your reach.

-  Think of ways to make extra income.  There are lots of people selling on ebay and amazon.  Lots of people have side businesses and etc.  What small deal can you think of?  Invest your extra earnings.

-  Think of ways to save money without hurting your lifestyle too bad.  See the site I mentioned.

-  Be nice to everyone.  Its easier to build a huge network when its not all about you, or if you are really inconsiderate.  Your employers and people you deal with every day should be able to say good things about you.  You should pay compliments to others too.  Your networks and lists could provide a job or some sales or some other deal.  (Or preferential treatment.)

-  Work hard at your job and your side projects.  Sloppy work won't get you to early retirement.  Focus on the bottom line.  What makes the income for your work or business?  Do those things.

-  Admit it to yourself if you are broke.  A baseless fantasy that a million bucks is around the corner is a path to disaster.