Passive Income: 4 Ways To Make Money While You Sleep!

Ever wondered why the rich get richer and the poor get poorer? One major reason is that the poor work for money while the rich have money work for them. While the poor work every day to make a living, the rich do the bulk of the work once and continue to reap the fruit of their work for a very long time. By the time they get old, the poor man no longer has the same amount of energy as before and his productivity drops. This automatically affects his income and he begins to depend on others for survival. The rich man on the other hand has been able to build several streams of passive income which keep bringing in money to him. Passive income is income that you earn with little or no effort. It is often called residual income because the bulk of the work is done once while little extra effort may be required to keep it running. There are also some that require no additional effort. The money just keeps flowing. Any work that involves your active participation cannot be regarded as passive income. Passive income is a good tool to use to build wealth. The good part is that with the little extra effort, your returns are huge. As long as the proper system is in place, you can keep increasing it with a multiplier effect on your earnings. While there are several streams of passive income, we will only take a look at the most popular and most profitable of them. These are real estate, intellectual property, automated business and marketing. The key thing about real estate is location. You need to carefully choose your location with foresight. You should estimate the potential gains vis-a-vis the cost to know whether it will be worth the while. For intellectual property your content must be original. People pay for good products and anything they enjoy. You also get to earn more when you prove that you can reproduce the same thing over again. The raw material you need is your mind which you already have. Do you know your business does not have to be subsistence? You can build a business up such that it runs by itself. The secret to this is automation. Automation allows you to have a business while you still keep your 9-5 job or do other things that are important to you. Before you start marketing you would need to do your due diligence to be sure of the kind of company you are recommending. This will also determine your ability to earn for a long period while maintaining your integrity. Since you talk to people every day, thus selling your opinion and idea on issues, sales should not be a big deal. Do not sit down with only your active income. The residual nature of the passive income streams can help you realize your dream of sustainable wealth faster and better. Write your plan today

Author: Femi Ayanfe-Oluye

Publisher: CreateSpace Independent Publishing Platform

Publication Date: Apr 08, 2017

Number of Pages: 54 pages

Language: English

Binding: Paperback

ISBN-10: 1545212295

ISBN-13: 9781545212295