What is Beach Money?
We all want beach money - the ability to earn money whilst sitting on a beach! This is Jordan Adler's term for passive income, or residual income. You can build up to beach money through many ways including network marketing and developing a property portfolio.
I definitely want beach money, and not because I spend a lot! Firstly, I want to be able to clear my debts from university as I did a degree and an MA and I don't want the debt hanging over my head. Secondly, I want to help other people. I want to help my mom to have a nice life, as she is disabled and cannot work. I also want to help some of the women who I met in Rwanda to get out of poverty. And, of course, a nice holiday for me and my boyfriend wouldn't go amiss - I think I deserve it after all this hard work!
So now you know what 'beach money' is, and why I want it. In this lens I am going to do a book review of Jordan Adler's 'Beach Money'. Then I am going to discuss some possible 'beach-money' ideas.
Image Credit: anda :( on Flickr
A Review of Beach Money by Jordan Adler
Beach money is readable and well presented. Jordan Adler talks about how to generate a passive income or residual income through network marketing.
I like the way that he shares his failures, as well as his successes. I was also very impressed with the focus on building your own set of personal contacts and developing your rolodex. A great tip that is explained in this book is how to write down your dreams, and focus on them as if they are happening now. Many successful entrepreneurs visualise what they want to achieve and the rewards it will bring.
Jordan is a humerous writer and shares his personal experiences as an entrepreneur and now millionnaire. 'Beach Money' is a must read for any budding entrepreneur, even if you are not into network marketing.
Build your Network
You never know who you are going to meet!
One day after work, I was walking home with my dog, and he started to go crazy at another dog. I was slightly embarrassed, and turned to the person next to me saying "Sorry about him - he's in training and he's a rescue dog!" She looked back and started asking about Milo, my Jack Russell, and we walked the same route together, chatting away. When I asked what she did, she explained that she was setting up her own business. I gave her my card incase she wanted any help with marketing or social media, and thought nothing of it.
A few days later, I got a phone call, asking if I remembered meeting her with the dog! Her name was Leanne, and she wanted to meet for a business drink. We went to the pub together the next week and shared business ideas. it turned out that we had a lot in common.
Leanne has turned out to be a great contact and someone I really relate to - on my wavelength! She shared her experiences of network marketing with Arbonne. In fact, it was Leanne who recommended the book 'Beach Money'. I read it in one day!
Leanne also invited me to the inner circle of 'Rippln' the latest mobile phone application. Rippln seems like a great opportunity to promote a viral app and earn commissions. The moral of the story is - you never know who you are going to meet! Always keep business cards available, and always keep in touch with these people. you never know where it is going to lead you!
Beach Money and You
Do you earn 'Beach Money'?
My Favourite Ways of Earning Beach Money
The best way that I have earnt 'beach-money' so far is through property. I bought two houses before the age of 30. When I was a full time teacher, I ploughed most of my income into them. Now they earn me a profit of around $800.00 per month. Not a massive amount, but 'beach-money' all the same!
However, with the recession, it is becoming harder to get properties for the right price, and to secure mortgages. I think that it is a good idea to secure multiple income streams while you build up your 'beach money.'
I do a lot of writing on infobarrel and Hubpages, and often pay people to promote them and do the SEO for me.
I also now run my own online home business through a top network marketing company. These are a no-no on most online platforms, but if you are interested in how I make my 'beach-money' now, I am happy to give you a free rundown by skype!