Every one of us has the same amount of time. So how do we work less for more so that our excess time can be centered around our family. The rat race and the rising cost of living has made us doubt ourselves on what we could have done better with our lives. We could do this by separating our time from work by applying the money making principle - passive income.
Passive income is a form of revenue that is generated over time from minimal work. Of course you need to spend some time and money to start the ball rolling. Imagine if there is only one tap that supply drinkable water to your home, what happens if the pipe breaks down? You need to find an alternative source to prevent yourself from dying from thirst. Similar scenario but if you have multiple taps that supply water, if one of the tap breaks down, you do not need to worry because there are always alternatives. This is important because we will never know when we a are being retrenched, fall ill or face a disaster.
Financial freedom not just a dream but an achievable goal that one should strife for. Passive income is an auto generated machine that allow you to earn your income even though you are going for a holiday, doing your regular work or sleeping.
Ways to build passive income:
* Venture into the new world of cyberspace. Cyberspace or the internet have altered the ways we process information and offer vast amount of money making opportunities at a minimal start up capital. Do your research and decide the most suitable path for yourself.
* Earn money via royalties while you are sleeping. Royalties can be generated from writing a book or writing a song. Royalties can be collected from franchising a successful and profitable business.
* If you are not a sales person leverage on others and offer an associate program and tapping on the sales generated by them. Create network marketing with an intention of creating passive income and also to help others.
* Rental property that generate positive cash flow are consider as passive income.
* Invest in dividend stocks and receive annual dividend. You can also profit from the price appreciation of the stocks
Passive income is not generally without having to work for it. Do your research before taking the plunge because there are a lot money making schemes that shouts easy and easy sells! For further information, visit us at: How To Generate Money
Article Source: http://EzineArticles.com/?expert=Angeline_Ng_Mei_Lin
Angeline Ng Mei Lin - EzineArticles Expert Author
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2 comments:
please tell me Ways To Make Money, This year finacial global crissis . How about property in your country??
http://marketvaluer.blogspot.com/
We are much more prepared after the Asian 1997 financial crisis. Property Speculator appears to have exited from the sluggish property market. The volume of transactions slow and the prices of properties continues to weaken. However this will be an opportunity for the genuine buyer who are looking for value purchases. As with any global crisis, people are more concern with maintaining their current employment than to engage in buying any properties. Major developers are strategically waiting for the next economic boom.
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