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Showing posts with label passive income. Show all posts
Showing posts with label passive income. Show all posts
Thursday, December 9, 2021
FI-RE, Become a Billionaire and Dystopia Memes (2021) Part 3
Saturday, July 12, 2014
Prudent Finances Key to Meeting Exigencies
Life is no doubt very unpredictable
– we often do not know how things will unfurl within a very short span of time.
Given that scenario, it becomes
perfunctory that when it comes to personal finances, they are planned and
provided for very prudently.
In that regard, augmenting one’s
income as well as saving for proverbial rainy days becomes absolutely
quintessential.
We mention this particular aspect
because as troubling as the trend may be, fact is that millions in America – as
indeed in many other parts of the world, are living pay check to pay check.
That way they are not providing for exigencies nor saving up for what may be
the “sunset years”.
This is clearly not a good sign at
all.
I am not saying that you give up
enjoying life in the present – after all, each and every day of your life is
just as important, whereby it becomes really essential that you live it to the
fullest. But at the same time, you also need to ensure that when it comes to
unpredictable situations, you are able to cope up with them financially.
Take the case of a sudden death in
the family, especially if it is an earning member – no one can predict such an
occurrence yet truth is that such things do happen. Likewise, loss of jobs is
something we often cannot foresee in advance; company policies change way too
often rather unpredictably whereby you might suddenly find yourself jobless,
with a mountain of bills to pay and various other financial obligations to
meet.
It is in this context that MasterMind University offers a
variety of ideas and solutions aimed at making one’s financial life that much
easier and comfortable. Using a variety of means at one’s disposal, numerous
initiatives can be taken to ensure that when it comes to financial goals and
ultimately – financial freedom, it is ensured without a glitch.
In particular, passive income is
something which MasterMind University stresses on, offering a variety of ideas for
that as can be seen here. As you
can note, investment options are at the heart of such passive income options,
yet there are many more which can be tapped; existing real estate which can be
rented out is an excellent way to earn passive income without “working” in the
truest sense…there are many more such possibilities as you think about it!
Friday, December 23, 2011
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.
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.
Friday, June 24, 2011
How to Become a Millionaire by the age of 30
(This is a great article by Sean Adams. Kudos to him!)
In today's current economy, young people are struggling to find jobs, racking up insanely large amounts of debt from trying the traditional method of going to college, and just over all learning the hard way that what supposedly worked for their parents is not going to work for them. They may be aware that they need to do something different, but they are struggling to find people who know another way. Their parents and teachers are stuck in the old mindset and therefore cannot help. That is why this article exists, to help give young people the basic tools they need to create and thrive in a new economy.
Tip #1: Avoid the trap of going into debt
Far too many young people are sold the false bill of goods that going into debt to get a degree from an institution of higher education is the right path to take. As a former higher education administrator and faculty member I am here to tell you that this is a false bill of goods and should be avoided. You do not and should not go into debt to pursue a degree. There is nothing wrong with getting a degree, but you absolutely should not go into debt for it. That is the single biggest mistake you can make if you want to be a millionaire by the age of 30. Debt will just be a wait hold you back for a very long time. Avoid it in all cases at all costs.
Tip #2: Follow your passion
We are all born with interests and talents that we love and know we have a natural talent for. Things that make our heart sing when we are doing it. The problem we often face is that these passions are not always socially acceptable and the adults in our lives do not support our pursuit of these "dreams". Too bad for them, pursue your dreams and focus on your passion and the things you are good at. Becoming a millionaire takes time and effort, and the only way you will be willing to put in the needed time and energy is if you love what you are doing. This love comes from following our passion.
Tip #3: Stop focusing on trying to improve your weaknesses
It is my experience that all of organized education is designed to teach us that we are supposed to focus on improving at the things that we are not naturally skilled at. This is a waste of time and will only hold you back from your success. We were given natural talents and we should work on improving those natural talents instead of focusing on and wasting time on improving our weaknesses. There are plenty of people out there that are skilled at areas you are not, so outsource to them, pay then to do the things you do not like to do so you can spend more time focusing on and improving on those areas you love to do and are good at.
Tip #4: Manage your money well
One of the things that all millionaires have in common is that they know how to effectively manage their money. This means that they know how to invest money for the long term, how to focus on education, how to have fun, etc all while not going into debt. My personal suggestion is simple, divide all income you receive into different categories and only spend the money from these categories if you have enough. The simple way of dividing up your money is: 50% for necessities, 10% for long term savings for spending, 10% for your financial freedom( your golden nest egg), 10% for play to be used monthly to act like a millionaire and 10% for give. If you are smart and manage your money in this manner from the start you will be amazed at how quickly it can grow.
Tip #5: Use the power of the internet
Odds are that you have forgotten ore about computers that your parents have ever known. The internet is THE business opportunity that is making more millionaires than anything else right now. Real Estate is upside down, investing is volatile, but the internet had millions of new participants on a regular basis and billions of dollars a year are spent there. All you have to do is learn the right way to monetize the web and you will be successful. Just take the time to be focused and learn the right way and you will be able to use the power of the internet for your financial success.
Becoming a Millionaire by the age of 30 will take time, effort and passion, but it can be done. Focus on what you love, manage your money well and use the power of the internet for your success. This is not about madly pursuing get rich quick schemes, it is about building a lasting long term business or businesses based on your passion that will change your life. Be in service to others, give wisdom and be passionate and the money will follow.
Sean is an internet entrepreneur who specializes in helping people to identify their passion and find a way to turn that passion into a monetized website that makes sustainable passive income. To learn more about how to learn the basics check out http://www.MillionaireMindForFree.com/
Article Source: http://EzineArticles.com/?expert=Sean_M._Adams
Article Source: http://EzineArticles.com/6375893
In today's current economy, young people are struggling to find jobs, racking up insanely large amounts of debt from trying the traditional method of going to college, and just over all learning the hard way that what supposedly worked for their parents is not going to work for them. They may be aware that they need to do something different, but they are struggling to find people who know another way. Their parents and teachers are stuck in the old mindset and therefore cannot help. That is why this article exists, to help give young people the basic tools they need to create and thrive in a new economy.
Tip #1: Avoid the trap of going into debt
Far too many young people are sold the false bill of goods that going into debt to get a degree from an institution of higher education is the right path to take. As a former higher education administrator and faculty member I am here to tell you that this is a false bill of goods and should be avoided. You do not and should not go into debt to pursue a degree. There is nothing wrong with getting a degree, but you absolutely should not go into debt for it. That is the single biggest mistake you can make if you want to be a millionaire by the age of 30. Debt will just be a wait hold you back for a very long time. Avoid it in all cases at all costs.
Tip #2: Follow your passion
We are all born with interests and talents that we love and know we have a natural talent for. Things that make our heart sing when we are doing it. The problem we often face is that these passions are not always socially acceptable and the adults in our lives do not support our pursuit of these "dreams". Too bad for them, pursue your dreams and focus on your passion and the things you are good at. Becoming a millionaire takes time and effort, and the only way you will be willing to put in the needed time and energy is if you love what you are doing. This love comes from following our passion.
Tip #3: Stop focusing on trying to improve your weaknesses
It is my experience that all of organized education is designed to teach us that we are supposed to focus on improving at the things that we are not naturally skilled at. This is a waste of time and will only hold you back from your success. We were given natural talents and we should work on improving those natural talents instead of focusing on and wasting time on improving our weaknesses. There are plenty of people out there that are skilled at areas you are not, so outsource to them, pay then to do the things you do not like to do so you can spend more time focusing on and improving on those areas you love to do and are good at.
Tip #4: Manage your money well
One of the things that all millionaires have in common is that they know how to effectively manage their money. This means that they know how to invest money for the long term, how to focus on education, how to have fun, etc all while not going into debt. My personal suggestion is simple, divide all income you receive into different categories and only spend the money from these categories if you have enough. The simple way of dividing up your money is: 50% for necessities, 10% for long term savings for spending, 10% for your financial freedom( your golden nest egg), 10% for play to be used monthly to act like a millionaire and 10% for give. If you are smart and manage your money in this manner from the start you will be amazed at how quickly it can grow.
Tip #5: Use the power of the internet
Odds are that you have forgotten ore about computers that your parents have ever known. The internet is THE business opportunity that is making more millionaires than anything else right now. Real Estate is upside down, investing is volatile, but the internet had millions of new participants on a regular basis and billions of dollars a year are spent there. All you have to do is learn the right way to monetize the web and you will be successful. Just take the time to be focused and learn the right way and you will be able to use the power of the internet for your financial success.
Becoming a Millionaire by the age of 30 will take time, effort and passion, but it can be done. Focus on what you love, manage your money well and use the power of the internet for your success. This is not about madly pursuing get rich quick schemes, it is about building a lasting long term business or businesses based on your passion that will change your life. Be in service to others, give wisdom and be passionate and the money will follow.
Sean is an internet entrepreneur who specializes in helping people to identify their passion and find a way to turn that passion into a monetized website that makes sustainable passive income. To learn more about how to learn the basics check out http://www.MillionaireMindForFree.com/
Article Source: http://EzineArticles.com/?expert=Sean_M._Adams
Article Source: http://EzineArticles.com/6375893
Wednesday, May 26, 2010
How to Get Rich by Generating a Passive Income
There are a lot of different ways to get rich but one thing is for certain, in order to get rich you need to generate a passive income. Not many people have been able to generate enough passive income to be financially free. That is until now. This article holds the information you need to become financially free and rich.
In the past becoming rich was only possible for the elite few. This is because generating a passive income required either a lot of business and investment knowledge or a lot of money. Now with the invention of the internet anyone with a computer can generate a passive income with little or no money or experience.
Imagine if you had enough passive income that you didn't have to work in a job you hated ever again? That would give you a lot of time to spend with friends and family doing the things you love wouldn't it? It would also give you a lot of time to spend making yourself rich. Instead of spending the best part of your week working to make someone else rich you could be working to make yourself rich.
There are a lot of different ways to make money online, but none of them are as effective as email marketing. Instead of needing to draw thousands of visitors to your website you can go directly to them with your products and offers.
90% of people who use the internet use it to access their email accounts. All you need to do is get people to sign up for your email newsletter and you can market to them whatever you want.
Using email marketing tools you can send out emails on autopilot. This is how you can generate a passive income online. You write the emails once, then whenever someone signs up for you email newsletter the emails are sent out in sequence automatically.
All you need to do is set up a squeeze page and drive traffic to it. One of the best ways to drive traffic to your squeeze page is through article marketing. All you need to do is write articles and submit them to sites like EzineArticles.com. Include a link to your squeeze page in your email newsletter.
If you want to become rich then your first (and most important) step is to become financially free by generating a passive income. There are a lot of ways to generate a passive income, but most are slow going and require a lot of money, a lot of time or a lot of education to create. I suggest email marketing as it is easy and anyone can do it. So why don't you give it a go?
It took me years to work out how to generate a passive income online. But I finally cracked the code and I want to share my secrets with you. I have created a 14 day course that will teach you how to generate a passive income online. I usually charge $197 for this course, but you can have it completely free of charge.
All you need to do to access this $197 course for free is go to http://richacademy.com/aweber and enter your first name and email address to sign up for the course. This has the potential to dramatically change your financial situation and make you financially free. So hurry and sign up today because this offer is limited.
Article Source: http://EzineArticles.com/?expert=Ryan_Mclean
In the past becoming rich was only possible for the elite few. This is because generating a passive income required either a lot of business and investment knowledge or a lot of money. Now with the invention of the internet anyone with a computer can generate a passive income with little or no money or experience.
Imagine if you had enough passive income that you didn't have to work in a job you hated ever again? That would give you a lot of time to spend with friends and family doing the things you love wouldn't it? It would also give you a lot of time to spend making yourself rich. Instead of spending the best part of your week working to make someone else rich you could be working to make yourself rich.
There are a lot of different ways to make money online, but none of them are as effective as email marketing. Instead of needing to draw thousands of visitors to your website you can go directly to them with your products and offers.
90% of people who use the internet use it to access their email accounts. All you need to do is get people to sign up for your email newsletter and you can market to them whatever you want.
Using email marketing tools you can send out emails on autopilot. This is how you can generate a passive income online. You write the emails once, then whenever someone signs up for you email newsletter the emails are sent out in sequence automatically.
All you need to do is set up a squeeze page and drive traffic to it. One of the best ways to drive traffic to your squeeze page is through article marketing. All you need to do is write articles and submit them to sites like EzineArticles.com. Include a link to your squeeze page in your email newsletter.
If you want to become rich then your first (and most important) step is to become financially free by generating a passive income. There are a lot of ways to generate a passive income, but most are slow going and require a lot of money, a lot of time or a lot of education to create. I suggest email marketing as it is easy and anyone can do it. So why don't you give it a go?
It took me years to work out how to generate a passive income online. But I finally cracked the code and I want to share my secrets with you. I have created a 14 day course that will teach you how to generate a passive income online. I usually charge $197 for this course, but you can have it completely free of charge.
All you need to do to access this $197 course for free is go to http://richacademy.com/aweber and enter your first name and email address to sign up for the course. This has the potential to dramatically change your financial situation and make you financially free. So hurry and sign up today because this offer is limited.
Article Source: http://EzineArticles.com/?expert=Ryan_Mclean
Thursday, May 20, 2010
How to Generate a Passive Income Online
If you want to be rich then you need to start generating some passive income. Passive income is income that you don't have to work for. If you want to be rich then you need to generate a passive income that is greater than your expenses and today I want to show you how you can do that.
First things first. Many people define being 'rich' differently. Some people want one million dollars in the bank, some people want to live in a mansion, some people want to travel the world. But whatever your definition is of the word 'rich' one thing is for sure...In order to become rich you need to generate passive income.
Passive income will fund your lifestyle. It will help you afford the nice things you want, it will help you pay for the mansion and the food and the entertainment that you want. Most importantly, it will fund your lifestyle so you don't have to work for your money, but rather you can have money work for you.
So how do you generate a passive income? Well there are three ways to do it:
Real Estate
You can generate an income that is passive by investing in positive cash flow real estate. That is, real estate that makes more money in rental income than it pays in expenses. For example, you might be receiving $1,000 per month rental income and all your expenses including mortgage is $800 per month. You are then making $200 per month in passive income.
The problem with property is that you need to have a lot of money to get started. You also need to assume a lot of debt in order to buy a property. This makes it difficult for the average person who does not have a huge amount of money saved to invest, and who would find it difficult to get the large loan required for property.
Stock Market
The stock market is another way you can generate an income that you don't have to work for. Stocks can generate an income through dividends that are paid out to shareholders. With stocks you need even more starting money that property to start generating a passive income.
Most people invest in stocks for their retirement. This is probably because it is the easiest way to invest. But that doesn't mean it is the best way to invest. Sometimes the returns on stocks are so poor you need millions before you can generate enough passive income to retire. The stock market is also volatile and you can lose a lot of money very quickly in a stock market crash.
Business
The third way to generate a passive income is through business. There are many business owners who OWN business, but who don't work in their businesses. One of the richest men in Australia, Rupert Murdoch, owns hundreds of businesses, but hardly works in most of them. They just generate him an income and make him very rich.
The setback with business is that it can be expensive to start, unless you start it online. Did you know that a McDonald's franchise in Australia costs over $1 million to start? I don't know about you, but most people don't have a lazy $1 million to invest in a business.
That is why online businesses are so good. You can start them for pennies. They can create an incredible passive income for you and there is very little risk in starting them. If the business doesn't work out you might lose a couple of bucks, not a thousands of dollars. So why not look at starting a business online today and start generating a passive income immediately.
It took me years to work out how to generate a passive income online. But I finally cracked the code and I want to share my secrets with you. I have created a 14 day course that will teach you how to generate a passive income online. I usually charge $197 for this course, but you can have it completely free of charge.
All you need to do to access this $197 course for free is go to http://richacademy.com/aweber and enter your first name and email address to sign up for the course. This has the potential to dramatically change your financial situation and make you financially free. So hurry and sign up today because this offer is limited.
Article Source: http://EzineArticles.com/?expert=Ryan_Mclean
First things first. Many people define being 'rich' differently. Some people want one million dollars in the bank, some people want to live in a mansion, some people want to travel the world. But whatever your definition is of the word 'rich' one thing is for sure...In order to become rich you need to generate passive income.
Passive income will fund your lifestyle. It will help you afford the nice things you want, it will help you pay for the mansion and the food and the entertainment that you want. Most importantly, it will fund your lifestyle so you don't have to work for your money, but rather you can have money work for you.
So how do you generate a passive income? Well there are three ways to do it:
Real Estate
You can generate an income that is passive by investing in positive cash flow real estate. That is, real estate that makes more money in rental income than it pays in expenses. For example, you might be receiving $1,000 per month rental income and all your expenses including mortgage is $800 per month. You are then making $200 per month in passive income.
The problem with property is that you need to have a lot of money to get started. You also need to assume a lot of debt in order to buy a property. This makes it difficult for the average person who does not have a huge amount of money saved to invest, and who would find it difficult to get the large loan required for property.
Stock Market
The stock market is another way you can generate an income that you don't have to work for. Stocks can generate an income through dividends that are paid out to shareholders. With stocks you need even more starting money that property to start generating a passive income.
Most people invest in stocks for their retirement. This is probably because it is the easiest way to invest. But that doesn't mean it is the best way to invest. Sometimes the returns on stocks are so poor you need millions before you can generate enough passive income to retire. The stock market is also volatile and you can lose a lot of money very quickly in a stock market crash.
Business
The third way to generate a passive income is through business. There are many business owners who OWN business, but who don't work in their businesses. One of the richest men in Australia, Rupert Murdoch, owns hundreds of businesses, but hardly works in most of them. They just generate him an income and make him very rich.
The setback with business is that it can be expensive to start, unless you start it online. Did you know that a McDonald's franchise in Australia costs over $1 million to start? I don't know about you, but most people don't have a lazy $1 million to invest in a business.
That is why online businesses are so good. You can start them for pennies. They can create an incredible passive income for you and there is very little risk in starting them. If the business doesn't work out you might lose a couple of bucks, not a thousands of dollars. So why not look at starting a business online today and start generating a passive income immediately.
It took me years to work out how to generate a passive income online. But I finally cracked the code and I want to share my secrets with you. I have created a 14 day course that will teach you how to generate a passive income online. I usually charge $197 for this course, but you can have it completely free of charge.
All you need to do to access this $197 course for free is go to http://richacademy.com/aweber and enter your first name and email address to sign up for the course. This has the potential to dramatically change your financial situation and make you financially free. So hurry and sign up today because this offer is limited.
Article Source: http://EzineArticles.com/?expert=Ryan_Mclean
Thursday, April 22, 2010
Take Charge of Your Financial Freedom
What is financial freedom? There are many definitions of financial freedom or financial independence. The one that I embrace says that you are financially independent when your monthly passive income is over and above your total monthly expenses.
Hmmm, where does that leave us? Do we have passive income?
Sounds like a tall order and it seems so distant and far...
Well, if you are ready to suspend your judgment, if you are willing to challenge your limiting beliefs and embrace abundance, read on.
The first step to reaching any goals, dreams or desire is the openness to explore and the willingness to suspend judgment and cynicism. Only then will you be open to consider the different options you have for reaching your ultimate dream. You do not want to limit yourselves at the outset. However, do keep your sharp and analytical mind as you evaluate the information presented to you.
Before we become millionaires overnight, a few things need to take place. Before we experience abundance of any sort, there needs to be awareness, learning and implementation, monitoring, realignment and practice, practice, and more practice. This is the sure and steady way to success.
The first thing you need to do is to be aware of why you want that financial freedom. And why that is important to you.
Then you need to get some education and training on your financial literacy.
It is no good depending on some other people's advice - even if he is your accountant or good friend. Ultimately, you want to be responsible for your own decisions.
How do you get the financial training?
1 - You can read books, and there are lots of great books around and you just need to visit the bookstore. However, this will only give you a basic understanding as you are not able to clarify your interpretation of what is written. And books do get outdated too.
2 - Join in the conversation in groups and forums. Ask your questions, articulate your queries and listen to different responses given. This process will get you into clarifying your thoughts and queries.
You get to ask practical and implementation questions here. But whether or not you get the answer is another question. Also you will want to keep a clear mind and not believe everything you hear. Double check it with second opinions or literature.
3 - Join in previews to workshops or the actual custom made workshops and learn from the experts. Those who have made it, been there done that and are willing to share their strategies with you.
In this information age, a lot of information within your reach. It is advisable to get your training from a trusted and reliable source, and learn those who have a proven system and a set of process that work.
The other thing about workshop is that you will have the opportunity to get your hands dirty. Attending a 2 or 3-day workshop will not make you an expert, but at least you will be learning from the gurus.
So whether you can achieve abundance or not is determined by your success mindset. You can take charge, do something about your dreams or you can lament and hope for the economy to change (or for an inheritance or a fluke of luck).
Nothing happens until you want it badly enough that you take action. "Life happens at the level of events, not of words". Alfred Adler. Small deeds done are better than great deeds planned.
If you want to take your current state to the next level, to live in freedom and abundance, then go out and explore, read up, join some workshops and get your hands dirty.
And if you are looking for some free and online preview calls that will give you some head start in the kinds of investment strategies that you can consider, sign up here. This is a live call which will be recorded. When you leave your name here, you will be given access to the discussion on strategies and tips that you can use from an expert with proven track recprd.
Louisa Chan is a Certified Professional Coach who will work with you to co-create your success by empowering you.
If you like to have similar articles delivered to your inbox just leave your details here.
Article Source: http://EzineArticles.com/?expert=Louisa_Chan
Hmmm, where does that leave us? Do we have passive income?
Sounds like a tall order and it seems so distant and far...
Well, if you are ready to suspend your judgment, if you are willing to challenge your limiting beliefs and embrace abundance, read on.
The first step to reaching any goals, dreams or desire is the openness to explore and the willingness to suspend judgment and cynicism. Only then will you be open to consider the different options you have for reaching your ultimate dream. You do not want to limit yourselves at the outset. However, do keep your sharp and analytical mind as you evaluate the information presented to you.
Before we become millionaires overnight, a few things need to take place. Before we experience abundance of any sort, there needs to be awareness, learning and implementation, monitoring, realignment and practice, practice, and more practice. This is the sure and steady way to success.
The first thing you need to do is to be aware of why you want that financial freedom. And why that is important to you.
Then you need to get some education and training on your financial literacy.
It is no good depending on some other people's advice - even if he is your accountant or good friend. Ultimately, you want to be responsible for your own decisions.
How do you get the financial training?
1 - You can read books, and there are lots of great books around and you just need to visit the bookstore. However, this will only give you a basic understanding as you are not able to clarify your interpretation of what is written. And books do get outdated too.
2 - Join in the conversation in groups and forums. Ask your questions, articulate your queries and listen to different responses given. This process will get you into clarifying your thoughts and queries.
You get to ask practical and implementation questions here. But whether or not you get the answer is another question. Also you will want to keep a clear mind and not believe everything you hear. Double check it with second opinions or literature.
3 - Join in previews to workshops or the actual custom made workshops and learn from the experts. Those who have made it, been there done that and are willing to share their strategies with you.
In this information age, a lot of information within your reach. It is advisable to get your training from a trusted and reliable source, and learn those who have a proven system and a set of process that work.
The other thing about workshop is that you will have the opportunity to get your hands dirty. Attending a 2 or 3-day workshop will not make you an expert, but at least you will be learning from the gurus.
So whether you can achieve abundance or not is determined by your success mindset. You can take charge, do something about your dreams or you can lament and hope for the economy to change (or for an inheritance or a fluke of luck).
Nothing happens until you want it badly enough that you take action. "Life happens at the level of events, not of words". Alfred Adler. Small deeds done are better than great deeds planned.
If you want to take your current state to the next level, to live in freedom and abundance, then go out and explore, read up, join some workshops and get your hands dirty.
And if you are looking for some free and online preview calls that will give you some head start in the kinds of investment strategies that you can consider, sign up here. This is a live call which will be recorded. When you leave your name here, you will be given access to the discussion on strategies and tips that you can use from an expert with proven track recprd.
Louisa Chan is a Certified Professional Coach who will work with you to co-create your success by empowering you.
If you like to have similar articles delivered to your inbox just leave your details here.
Article Source: http://EzineArticles.com/?expert=Louisa_Chan
Saturday, January 30, 2010
Choosing Your Passive Income Vehicle
Real wealth and financial freedom is not created from a single source, at least not most of the time. It comes from developing numerous income streams, mostly automated, that together accumulate to be a huge income. Passive income is absolutely something that is attainable by all of us. Most people simply do not know what passive income is or how it is created, and therefore they spend a lifetime working and never get ahead. The beginning of financial success then starts by developing an understand of passive income and how it is created, and as you do that, you will equip yourself with the necessary wealth building tools.
When it comes to creating automated streams of income, the sky is truly the limit. Money can be earned in so many ways, and with just a little ingenuity you can automated the process. There are two basics types: Business Passive Income and Investments Passive Income. Learning a little about these two forms of passive income, business and investing, will give you the skill of being able to spot money making ventures wherever they are. In fact, once you get savvy about passive income and all of the methods in which it can be created, you will see more opportunity that you will ever have time enough to pursue, and you will have everything you need for a life of prosperity.
Do you like to spend money or invest it? Most people like to spend their money, but financially successful individuals view every dollar as a "seed" that they can plant that will produce more dollars over time. When you put your money into an investment vehicle that will grow and multiply your money, you have created a stream of automatic income. You can work hard now, and if you invest your money it will begin to work for you, earning you money over and over again. Once your money is working hard enough, you will not have to anymore. You can invest your money into a number of financial instruments like stocks and bonds, mutual funds, money marketing, t-bills, and owning appreciating assets. Owning rental properties and storage units can also be great ways to invest your money to work hard for you.
Investing is a great form of passive income, as is business. Automated income can be produced from just about any business, and simple business systems can be set up and used by anyone. This is a great idea for wealth seekers who are just getting started and do not yet have enough money to invest to produce a substantial return. There are many ways to start income streams online with little or no money. For example, you could start a website or a blog, develop an ecommerce storefront through Cafe Press of Amazon, or join a network marketing program. Many fortunes have been made by individuals who create their own informational products like ebooks and sell them online. You can do the same and you can use them to create multiple streams of income. Building a mailing list can also be very profitable, especially if you have your own business and your own products to sell.
Ben is a young entrepreneur who has several successful businesses under his belt, and enjoys sharing information on a wide range of business, financial, and entrepreneurial topics. Visit Passive Income Pro and the Passive Income Blog
Article Source: http://EzineArticles.com/?expert=Ben_Frank_Jr.
When it comes to creating automated streams of income, the sky is truly the limit. Money can be earned in so many ways, and with just a little ingenuity you can automated the process. There are two basics types: Business Passive Income and Investments Passive Income. Learning a little about these two forms of passive income, business and investing, will give you the skill of being able to spot money making ventures wherever they are. In fact, once you get savvy about passive income and all of the methods in which it can be created, you will see more opportunity that you will ever have time enough to pursue, and you will have everything you need for a life of prosperity.
Do you like to spend money or invest it? Most people like to spend their money, but financially successful individuals view every dollar as a "seed" that they can plant that will produce more dollars over time. When you put your money into an investment vehicle that will grow and multiply your money, you have created a stream of automatic income. You can work hard now, and if you invest your money it will begin to work for you, earning you money over and over again. Once your money is working hard enough, you will not have to anymore. You can invest your money into a number of financial instruments like stocks and bonds, mutual funds, money marketing, t-bills, and owning appreciating assets. Owning rental properties and storage units can also be great ways to invest your money to work hard for you.
Investing is a great form of passive income, as is business. Automated income can be produced from just about any business, and simple business systems can be set up and used by anyone. This is a great idea for wealth seekers who are just getting started and do not yet have enough money to invest to produce a substantial return. There are many ways to start income streams online with little or no money. For example, you could start a website or a blog, develop an ecommerce storefront through Cafe Press of Amazon, or join a network marketing program. Many fortunes have been made by individuals who create their own informational products like ebooks and sell them online. You can do the same and you can use them to create multiple streams of income. Building a mailing list can also be very profitable, especially if you have your own business and your own products to sell.
Ben is a young entrepreneur who has several successful businesses under his belt, and enjoys sharing information on a wide range of business, financial, and entrepreneurial topics. Visit Passive Income Pro and the Passive Income Blog
Article Source: http://EzineArticles.com/?expert=Ben_Frank_Jr.
Sunday, August 23, 2009
Understanding The Principles of Multiple Streams of Income
Let's look at two different types of business.
First car mechanics, now we all have heard the saying that we all have the same amount of time in the day. The mechanic can only work on so many cars in one day. Then he is tired and has to rest and take care of family.
Now let's look at a doctor. They have the same problem as the mechanic. The doctor can only see so many people a day. They are both limited by their own abilities. This is called linear income.
Now the mechanic can go and open his own garage and have employees and the doctor can open up his own office and have other doctors working and paying him. They both get paid from the work of others in the office. This is called passive income.
If the mechanic opens up five garages or the doctor opens up five medical offices, now they are both making money off of other peoples work and they don't have to work as hard or at all. They have done all the work to build themselves to this point. This is called residual income.
The doctor and the mechanic have the same opportunity to turn their operation into a franchise and have it spread across the nation. This is called perpetual income.
If they're really good and unique they can become the market staple and your business is the industry. So as your business grows the industry grows. This is called industry profit sharing income.
They are linear income - this is when you get paid for the time you work and not paid when you are not working.
Then there is passive income - this is when you get paid for work that you have very little to do with.
There is residual income - this is when you get paid for work you did in the past.
There is perpetual income - this is when you are able to participate in income generated from the work of others and you have learned to manage without getting involved in the daily operations.
Lastly there is industry profit sharing - this is when you are in a position to take advantage of income that comes from the growth of an industry.
Some people don't have any idea as to what they can do to make extra money. Most of the time it is because people are thinking of franchises and the financial output required. This is why I am advocating starting a home based business. The tax advantages are high, the income possibilities are high, the time with family (once the business takes off) is high, total benefits are high. The negatives are that you have to have or develop a high work ethic.
I am not a fan of Linear Income but I would say that you should really keep your job until your income from your home based business triples your employment income. This way you can afford to pay for your insurance coverage, your current and future bills.
If you are unable to decide what type of business to invest in let me try to clear your thinking.
Here are some rules of thump that can guide you.
You have to be able to get paid from anywhere in the world (even though you are in one little city you want to make money from someone who is interested in another country.
You should be able to get customers through multiple medias (mailing, ads, face to face, internet, etc.)
You have to be able to make your own income from the sales you generate.
You should be able to get paid off of the work of other people (you want to get paid 1% off of the efforts of 100 people, not 100% of your own efforts)
Your business needs to appeal to a wide range of people (culture, race, religion, etc)
Your product needs to address what most of the people want and not what they need
You can't afford to look at your business through your feelings. The idea of going into business is to make money, not to make you or I feel good. You should have faith and trust in the product you are marketing.
Lastly remember when you are working your own home based business - you are really marketing yourself. People need to believe and trust in you and the product come second.
This is information is from a small section of my book which is scheduled to be released late September 2009. A friend of mine made a video that explains how he found this system and made 1.2 million dollars. You can view it at http://www.maxwelltoliver.com
Article Source: http://EzineArticles.com/?expert=Maxwell_Toliver
First car mechanics, now we all have heard the saying that we all have the same amount of time in the day. The mechanic can only work on so many cars in one day. Then he is tired and has to rest and take care of family.
Now let's look at a doctor. They have the same problem as the mechanic. The doctor can only see so many people a day. They are both limited by their own abilities. This is called linear income.
Now the mechanic can go and open his own garage and have employees and the doctor can open up his own office and have other doctors working and paying him. They both get paid from the work of others in the office. This is called passive income.
If the mechanic opens up five garages or the doctor opens up five medical offices, now they are both making money off of other peoples work and they don't have to work as hard or at all. They have done all the work to build themselves to this point. This is called residual income.
The doctor and the mechanic have the same opportunity to turn their operation into a franchise and have it spread across the nation. This is called perpetual income.
If they're really good and unique they can become the market staple and your business is the industry. So as your business grows the industry grows. This is called industry profit sharing income.
They are linear income - this is when you get paid for the time you work and not paid when you are not working.
Then there is passive income - this is when you get paid for work that you have very little to do with.
There is residual income - this is when you get paid for work you did in the past.
There is perpetual income - this is when you are able to participate in income generated from the work of others and you have learned to manage without getting involved in the daily operations.
Lastly there is industry profit sharing - this is when you are in a position to take advantage of income that comes from the growth of an industry.
Some people don't have any idea as to what they can do to make extra money. Most of the time it is because people are thinking of franchises and the financial output required. This is why I am advocating starting a home based business. The tax advantages are high, the income possibilities are high, the time with family (once the business takes off) is high, total benefits are high. The negatives are that you have to have or develop a high work ethic.
I am not a fan of Linear Income but I would say that you should really keep your job until your income from your home based business triples your employment income. This way you can afford to pay for your insurance coverage, your current and future bills.
If you are unable to decide what type of business to invest in let me try to clear your thinking.
Here are some rules of thump that can guide you.
You have to be able to get paid from anywhere in the world (even though you are in one little city you want to make money from someone who is interested in another country.
You should be able to get customers through multiple medias (mailing, ads, face to face, internet, etc.)
You have to be able to make your own income from the sales you generate.
You should be able to get paid off of the work of other people (you want to get paid 1% off of the efforts of 100 people, not 100% of your own efforts)
Your business needs to appeal to a wide range of people (culture, race, religion, etc)
Your product needs to address what most of the people want and not what they need
You can't afford to look at your business through your feelings. The idea of going into business is to make money, not to make you or I feel good. You should have faith and trust in the product you are marketing.
Lastly remember when you are working your own home based business - you are really marketing yourself. People need to believe and trust in you and the product come second.
This is information is from a small section of my book which is scheduled to be released late September 2009. A friend of mine made a video that explains how he found this system and made 1.2 million dollars. You can view it at http://www.maxwelltoliver.com
Article Source: http://EzineArticles.com/?expert=Maxwell_Toliver
Friday, September 19, 2008
Passive Income Blog
http://iwantpassiveincome.blogspot.com/
The link above is to my other blog, which is about passive income.
Take a look.
The link above is to my other blog, which is about passive income.
Take a look.
Wednesday, August 6, 2008
Passive Income Through Dividends
I saw on a list of etf's and mutual funds that "BIF" pays a 10% dividend.
You should ask your stockbroker about this one. Only a few Canadian funds pay out more than 10%. But you have to pay Canadian taxes.
If you want free information on early retirement and passive income, take a look at:
www.financialindependenceuniversity.com Visiting our site will save you a lot of time and money.
You should ask your stockbroker about this one. Only a few Canadian funds pay out more than 10%. But you have to pay Canadian taxes.
If you want free information on early retirement and passive income, take a look at:
www.financialindependenceuniversity.com Visiting our site will save you a lot of time and money.
Friday, May 30, 2008
Go From Rags to Riches
The first thing you want to do, in order to go from rags to riches is set goals.
Set reachable short term goals in every area of your life. Then, set your definite major purpose. Your definite major purpose will probably be to have one or two million dollars in assets.
Take action on your goals every single day. As Dave Ramsey puts it, get “Gazelle intense”, as Tony Robbins puts it, “total focused intensity”.
The next thing to do is live as far below your means as you can. Quit financing things. Do not waste any money. Make a budget. Quit smoking. Tell your mooch buddies to take a hike.
Next, work your heart out. Take on extra hours and extra responsibility. Be prompt. Don’t be a pain. Don’t be a slacker.
Now after you get used to all the stuff mentioned above, start studying, reading, and listening to audio CDs. You need to study small business management, investments, including stocks and real estate, business law, and anything else that will help you in your career or in managing passive assets. Get a library card and enroll in classes if you can swing it. Why should you do this? Because if/when the cash starts to come in, you need to know how to put it to work for you in passive businesses and investments. Don’t do bad deals or get ripped off and lose your hard earned money.
Think about your dreams. Your dreams have to be semi real. What would you love to do as a career or business? Learn all you can about whatever it may be. If you have an idea that could become a real business, then research and test your ideas. If your venture fails, you will still have gained knowledge and experience which you can use over and over. The real losers never take action!
Next, open a Roth IRA or the type of retirement account that is offered in your country. Do not worry if you cannot maximize the contributions at first. Save what you can in your Roth and also start to build an emergency fund. Financial councilor/talk show host Dave Ramsey calls emergency funds “Murphy Repellant”, an excellent analogy. Don’t let Murphy back in your life.
After your little nest egg reaches sufficient size, find an excellent broker. Never touch your principle!
Another thing to do is to improve your peer group. Ditch the go nowhere crowd. Let people laugh at you. You may well be kept down by a bad peer group.
Consider forming a mastermind alliance.
Don’t make excuses. Take responsibility for your life and take action every day. If you need help don’t be afraid to ask for it.
Be different from the masses. Take charge of your life now and get started. Many people never succeed because the afraid to start small.
Set reachable short term goals in every area of your life. Then, set your definite major purpose. Your definite major purpose will probably be to have one or two million dollars in assets.
Take action on your goals every single day. As Dave Ramsey puts it, get “Gazelle intense”, as Tony Robbins puts it, “total focused intensity”.
The next thing to do is live as far below your means as you can. Quit financing things. Do not waste any money. Make a budget. Quit smoking. Tell your mooch buddies to take a hike.
Next, work your heart out. Take on extra hours and extra responsibility. Be prompt. Don’t be a pain. Don’t be a slacker.
Now after you get used to all the stuff mentioned above, start studying, reading, and listening to audio CDs. You need to study small business management, investments, including stocks and real estate, business law, and anything else that will help you in your career or in managing passive assets. Get a library card and enroll in classes if you can swing it. Why should you do this? Because if/when the cash starts to come in, you need to know how to put it to work for you in passive businesses and investments. Don’t do bad deals or get ripped off and lose your hard earned money.
Think about your dreams. Your dreams have to be semi real. What would you love to do as a career or business? Learn all you can about whatever it may be. If you have an idea that could become a real business, then research and test your ideas. If your venture fails, you will still have gained knowledge and experience which you can use over and over. The real losers never take action!
Next, open a Roth IRA or the type of retirement account that is offered in your country. Do not worry if you cannot maximize the contributions at first. Save what you can in your Roth and also start to build an emergency fund. Financial councilor/talk show host Dave Ramsey calls emergency funds “Murphy Repellant”, an excellent analogy. Don’t let Murphy back in your life.
After your little nest egg reaches sufficient size, find an excellent broker. Never touch your principle!
Another thing to do is to improve your peer group. Ditch the go nowhere crowd. Let people laugh at you. You may well be kept down by a bad peer group.
Consider forming a mastermind alliance.
Don’t make excuses. Take responsibility for your life and take action every day. If you need help don’t be afraid to ask for it.
Be different from the masses. Take charge of your life now and get started. Many people never succeed because the afraid to start small.
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