Passive Income: Earn More Money With Little Effort


Do you want to work 40, 50, or even 80 hours a week for the rest of your life?

Good, neither do I!!

Do you want to have income coming to you in a daily basis with as little effort as possible?

So do I!!

One way to achieve that goal is through passive income. Passive income is basically income that requires minimal work from you to obtain a steady flow of money.

So what is the secret to passive income? It is very simple and anyone can do it, whether you are in a business, a student or even a retired person, the secret is BUILDING ASSET. The key word is asset.

Asset is anything that is owned, the value of which can be expressed in monetary terms. Assets is not something you can get overnight, it takes time and effort to build. However, in the long term the financial rewards can be outstanding. Instead of you working hard for your money, the assets could be working hard for you.

Overtime, you can leverage your assets and use it to obtain other assets. This way you will not be relying just on one asset but many others. The total return from all of your assets can be even more fantastic. For this to happen, you need to start building your first asset.

What kind of asset should you build? Build ones that you are familiar with so that you can reduce the amount of time needed to do your research and have a quick start. Preferably, it is something that will generate revenue and income. One important factor to keep in mind is that no matter what you decide to do, there are additional expenses to maintain it.

For example, a blog could be an asset. You could start a blog and write about topics that you are familiar with and are of interest to you. However, a blog takes time to build and requires effort on your part to market, write, and maintain.

One particular type of assets that is associated with passive income is real estate. Your real estate could provide you with a flow of income by renting it out. When the housing market is a sellers market, you could then sell your real estate at a much higher price compare to the price you brought it for.

These are just two of many types of assets that you can own that can provide you with a nice monthly income. Other types of assets are stocks (hopefully with dividends), mutual funds, bonds, published books, be a silent partner in a business, advertisement commissions, or even your reputation (which you can use to give paid speeches or lectures).

There are two basic types of passive incomes that I have not talked about in this article. I will talk about it in the near future and they are: Residual Income and Leverage Income.

Don’t miss it and I will see you again.

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April 16, 2008 | Filed Under Investment, Money Saving Ideas 

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Comments

4 Responses to “Passive Income: Earn More Money With Little Effort”

  1. Tony Tovar on April 22nd, 2008 1:28 pm

    David, what a great post! You could not have said it any better. Building an asset column should and must be the number one priority of a person fighting to gain wealth. Your post reminds me of the great Robert Kiyosaki’s book “Rich Dad, Poor Dad.” It mentions that an important thing to do is create wealth by increasing your assets!. Great Post, look forward to your articles on the different types of income, especially how you might stray away from residual income without to much emphasis and without possibly making it sound (like the negative connotation implies) a pyramid affect system in order to gain residual income. :D Good Luck!

    Respectfully,
    Tony Tovar

  2. Leverage Income: Make Money With Less Work : GetFatMoney.com on April 23rd, 2008 2:55 pm

    […] my previous post, I talk about the key to passive income is assets. There are two other types of income I have not talk about. They are leverage income and residual […]

  3. David on April 25th, 2008 12:36 am

    Thank you for the comment Tony. Yes, there are a lot of MLM and pyramid system out there that takes advantage of both the residual and leverage income.

  4. SitesEcho.com on May 15th, 2008 12:41 pm

    Passive Income: Earn More Money With Little Effort : GetFatMoney.com…

    One way to achieve the goal of consent monthly income is through passive income. Passive income is basically income that requires minimal work from you to obtain a steady flow of money. So what is the secret to passive income? It is very simple and any…

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