Passive Income

Why Should you Create Passive Income?

Most of us are raised with the world view that we need to pursue higher education in order to get a great job. We need a great job in order to make money to support our families, in order to buy food, clothing, shelter, utilities, transportation, etc. Our jobs typically have set hours and we actively participate often working hard to make our hourly wage. With our jobs we are relying on our employer to be our source of income, benefits, and to give us the hours we need in order to support our lifestyles.

job

When we rely on our employer to be our source of income we do not have complete control over our schedules, time, benefits, how long we can stay away from maternity/paternity leave, etc. We often are used as a means to an end to make more money for someone else.

When we work hard to get raises we tend to buy more liabilities while at the same time increasing the amount of money we pay the government in taxes.

Tax 3

The author of Rich Dad Poor Dad, Robert T. Kiyosaki states, “The poor and the middle class work for money. The rich have money work for them.”

We should work hard for knowledge and use our knowledge, money and experiences to contribute to assets that work for us.

Examples of how to put your money to work for you include:    Profit

  1. Index funds, ETFs, mutual funds
  2. Bonds
  3. Peer to Peer lending and other notes
  4. Real Estate
  5. Owning businesses/developing a business
  6. Investing in yourself

What sources of passive income do you have? Please share below…

I also advise that you not only use your money to work for you but use the knowledge that you have created through experience and investing in yourself to create sources of passive income. Remember knowledge is power. With your knowledge and experiences create royalties, books, training courses, websites, etc. Share your experiences with others and provide content that is not only beneficial but helpful to your audience to help them become successful in life.

The internet is a powerful tool with over 2 billion people using it to find the information that they need. You could write ebooks (self publish) using your knowledge, passions, and skills. You can develop a business website based on your areas of interests.

You can create your very own business website…

If you have not already please read my “Get Started” page for more information. Websites unlike in the past are easier to create. You can create a website within 30 seconds. Please watch the video of how to create a website by clicking here.

If you have an idea and passion then I suggest putting in sometime to develop you very own online business. There are plenty of niches on the internet to explore that can be used to drive traffic to your website.  To learn more about finding your niche go to Wealth Affiliate today.  Lend a hand to help you accumulatee wealth

Please drop a comment below with any questions, suggestions, or if you need help getting started . I  want you to be successful on your journey to create passive income and towards financial stability. Let me lend a hand!

 

Sincerely,

Andrew

Your Passive Income Advisor

 

 

 

 

6 Comments

  1. Hi Andrew

    Great website
    I would definitely embed your links in your words instead of leaving a big long URL. I think that will help. By this I mean embed your video. It will look much cleaner.

    Wealthy affiliate is amazing and anyone stopping by here should certainly check out the free trial.

    Let me know if you need anything!

    • Tanya,
      Thank you for the feedback. I am always looking for ways to improve the site to make it more user friendly. Glad you have had a great experience with Wealthy Affiliate. I was skeptical of the site until I tried the free trial. I could not have made this site without their training!

  2. Montana-Tim

    Your site is looking good. check the spelling You con create your very own web site. your is spelled you, keep up the good work

    • Hi Tim,
      Thank you for you comment and feedback. I will review the article again and look for any typos/spelling mistakes. Thank you for your help and I wish you the best in your journey to accumulate wealth!

  3. I love this subject matter! It is a personal interest of mine…Personal development, investing, achieving financial independence, multiple streams of income, etc. Great job! this page flows comfortably and then has a very nice segue into WA! One suggestion, consider the use of some widgets on the right hand side for some quick links to other pages…Omega allows for up to two menus on that side. Cheers!

    • Hi John,
      Thank you for the feedback. I am always looking for new ways to diversify my sources of income. Thank you for your suggestion on how to make the site better. I will look into adding that content soon!

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