- Personal Finance»
- Financial Planning
My First Amazon eBook Residual Check-Make Passive Income
How To Make Passive Income
Learn How To Make Passive Income
What is passive income? Passive income is money that you work for then recieve it without working. You set up a system then reap the benefits of that system. I provided some examples to further explain.
I wrote a couple of eBooks for Amazon Kindle but being a new author I didn't expect much in the beginning. I was right! I was so exhausted by going through the process of writing for Amazon for the first time that I did 2 books then stopped. They were my experiment to another stream of income.
I was convinced that only the real authors were the only ones getting paid over and over again. Then it happened over a year later I recieved a check for $103 and have faith that there is more to come. I just so happened finished an eBook that is so much better than the first two.
You will make more money from having your own products. If I recieved a check for selling others Amazon product it would probably be only $8 instead of $100. Those of you that are an affiliate for Amazon know what I'm talking about. Start writing sone eBooks and get started. It's a numbers game;the more your write the more will see your work and buy.
Make your own product and create a stream of passive income.
- Downline in MLM (Multi Level Marketing) Payments from others under you.
- Affiliate Programs-Pays you a percentage when ever you drive a paying client to anothers product.(google ads,clickbank,Amazon etc)
I don't have to tell you about the fear you fell when your paycheck is short or late. Most people today are dependent on our check before they are due and this is how we live our lives everyday.
Of course there are people that are fortunate to have gone to college and land that dream job. But they are still in the rat race. I am willing to bet that the people with the great paying jobs are still in fear of losing their jobs due to downsizing.
There are some that look as though they are in a great position and are doing well, but I have had the privileged to have assisted or double checked their tax return and I can certainly tell you that they are in deep trouble now or in the future.
Wonderful people.......We all have got to learn how to make work, business,passive or residual income work for us. We go to college, learn a trade or train for a position; but never learn how to work the tool we work so hard for. That tool is money! What we are is the big donkey with the boss on our back dangling a carrot in front of our faces everyday.
- Are you afraid of losing your money?
- Are you working from paycheck to paycheck?
- Do you spend more time at work then home or enjoying life?
- Do you panic with you money is low?
Why Are You Chasing The Money? Don't chase money let it come to you!
I have been a slave all of my life and have always had the desire to work outside of the box. It is hard because we are all taught to work and study hard in order to live a good life or to at least sustain. We are all chasing carrots. If we could stop chasing money and learn how to make it ourselves we can be free.
We all have our habits that keep up motivated to work for money and when we are in danger of not getting what we need we become fearful. We are slaves to money. When we can think of money as a tool then and only then can we learn how to use the tool properly and free ourselves.
What Are We Missing?
The fear and ignorance about money is running our lives.We are in a never ending cycle of madness that never seems to end until we die. What are we missing? This can not be what life is all about. How many of us rush to get in bed to get up and do the same thing over and over again. Sounds ridiculous but this is everyday life for billions. You too will one day say this......
- I have my own cubicle.
- I will get a raise in 6 months.
- I gotta run before I get docked!
- Get outta my way! I'm gonna be late for my job!
- It puts food on the table.
We have a generation going to school so they can join this cycle as well. How can we avoid the rat race and enjoy life with a nice income? I know I'm tired of living in fear. What can we do?
Passive Income - Financial Literacy
Learning about finances and passive income are subjects we should be taught in school. We learn that we must make money but never learn what to do with it after we made it. Spending money is the only skill we seem to have the ability to do. Passive income will take care of our children s children.
If we are going to work so hard for our money instead of spending it on liabilities we have to spend it on investments that will pay up in return. Look around and see what your money has paid for over the years. I know it's depressing, because everything you have will be in jeopardy if you lost your job. Your house, car, clothe, shoes etc can't take care of you.
We have to become knowledgeable in what makes money grow and how we can do this for ourselves.
- What is an asset? Stocks,rental property = interest income,rental income
- What is a liability? Home mortgage & rent = nothing!
The wealthy deal in assets and the poor/middle class deal in liabilities. We need to look at our children and join their new talents and financial literacy together. Our children are learning how to make money online while they sleep. Just imagine teaching them how to make that money work for them while they are young?
- Passive income through rental property, network marketing or royalties on creative work.
- Interest income with stocks,and bonds.
- Residual Income with business managed by others, selling ebooks, membership website, affiliate marketing etc
It's time to unlearn what our parents taught us and take control of our finances. Learn how to make money work for you. A great book that will open you mind to Real Estate Investment is "Rich Dad Poor Dad by Robert T Kiyosaki He wrote that book with Sharon L Lechter a Certified Public Accountant (CPA).
You don't have to make a huge income to grow your money, you just have to learn how to make your products work for you.