There are two sayings I live by
1- Money is simply an idea, those without money are just without ideas
2-If there is a will there will always be a way
These two phrases greatly helped my investment career. All the planning in the world won't prevent you from hitting a few hurdles in life. To get ahead in life you will need to overcome a few challenges on the way.
Now that I've got that out of the way, on to the fun stuff.
Passive income strategies can make you a lot of money if you do it right. There are points to consider and they are straight forward.
1) Research research research - Learn before you earn.
Most individuals get into investing because they hope to make a quick buck with no effort. Don't get me wrong, it is possible to build massive wealth with little or no effort, but that happens after you get some knowledge on a wealth building strategy that suits you.
Taking on an investment strategy without proper knowledge on what to do is a surefire way to lose all your cash. SO DON'T DO IT.
2) Don't invest in something based on the amount of money you can make.
Look for money-making ideas that cater to your strengths and personality type. As an example if you are the reserved type you should avoid choosing sales type strategies. If you are more of the think tank type that likes to work behind the scenes, then avoid methods that require an outgoing personality.
As another example, if you like numbers and data, perhaps there is life for you in online trading or tax lien investing.
Think about your personality, list your strengths and weaknesses, then match your strengths up with the appropriate investment strategy. This is how I got my start in internet marketing and stock options investing.
3) Be open to unique possibilities
The only thing stopping you is you. There are a plethora of ways to make a passive income. Don't let people tell you that something cannot be done. If you have a strong desire to do something, just do it!
I will bet my monthly earnings (a lot of money) that if you asked all the millionaires if someone at one time told them they would fail, ALL of them would say yes.
1- Money is simply an idea, those without money are just without ideas
2-If there is a will there will always be a way
These two phrases greatly helped my investment career. All the planning in the world won't prevent you from hitting a few hurdles in life. To get ahead in life you will need to overcome a few challenges on the way.
Now that I've got that out of the way, on to the fun stuff.
Passive income strategies can make you a lot of money if you do it right. There are points to consider and they are straight forward.
1) Research research research - Learn before you earn.
Most individuals get into investing because they hope to make a quick buck with no effort. Don't get me wrong, it is possible to build massive wealth with little or no effort, but that happens after you get some knowledge on a wealth building strategy that suits you.
Taking on an investment strategy without proper knowledge on what to do is a surefire way to lose all your cash. SO DON'T DO IT.
2) Don't invest in something based on the amount of money you can make.
Look for money-making ideas that cater to your strengths and personality type. As an example if you are the reserved type you should avoid choosing sales type strategies. If you are more of the think tank type that likes to work behind the scenes, then avoid methods that require an outgoing personality.
As another example, if you like numbers and data, perhaps there is life for you in online trading or tax lien investing.
Think about your personality, list your strengths and weaknesses, then match your strengths up with the appropriate investment strategy. This is how I got my start in internet marketing and stock options investing.
3) Be open to unique possibilities
The only thing stopping you is you. There are a plethora of ways to make a passive income. Don't let people tell you that something cannot be done. If you have a strong desire to do something, just do it!
I will bet my monthly earnings (a lot of money) that if you asked all the millionaires if someone at one time told them they would fail, ALL of them would say yes.
About the Author:
Want to find out more about making passive residual income ? Visit Dale Poyser's site to learn about how to choose from the best passive residual income ideas.
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