What financial goal have you set for yourself? You must have thought about achieving financial freedom or you may have thought of buying your dream car, your dream home and chance to travel abroad! Don’t you?. Well, that’s great and almost everyone tries for that. Who doesn’t want such life with a great possibility of experiencing the life in its whole effect?
Having these all dream in mind you might be aware that to buy all these things you require most precious thing of life. What is that? Off course money! Now you may have started thinking that, you should get a good salaried job in any MNC so eventually after working very hard you will able to buy the things of your dream.
But is it so simple? Are you certain that your salary going to help you with buying the things of your dream? Will it going to help you to go beyond your means? How many people do you know who work for a particular company and able to become financially free to buy the things of their dream? And to get “time” to experience those things?
Not exactly everyone. The point I want to made is, you will never able to achieve financial goal just by salaried income. Salaried income can be called as Active Income. So what is Active Income? Income you can earn from working directly with any organization called as Active Income.You become financially free when your passive income exceeds your expenses Click To Tweet
It requires you to “work” first then you will get the money in return. Like you work for your organization and you get the salary at the end of the month. So here you are getting compensation for your work and based on how many years of experience you have you can get more compensation. But it has its own limitation, you need to work continuously and you only get a salary when you work!
Are there ways where you don’t need to work always to earn money? The ways which not only helps you to earn money but helps to earn most important thing of life that is “Time”? Are there such ways exist? Are there such income sources present?
Yes, there is such ways present and the good thing is many people are already making money using those ways. Those sources can be called as “Passive Income Sources”. I am talking about the earning sources, where you work now and then your “work” earn money for you for the longer period! Isn’t it great! Like I am writing this article on “Importance of Passive Income”.
To write this article I require energy, time and little money but once I put my efforts to write this beautiful article then in coming future this article helps me to bring visitors to my website and eventually helps me generating profit.
So I have spent 3 hours to write this article and now this article going to generate money for me till people stop using the internet 🙂 ! (Well, that’s not gonna happen) This is the power of Passive Income! So how many passive income sources do you have right now?A wealthy person is simply someone who has learn how to make money when they're not working Click To Tweet
While advocating Passive income I am not denying the fact, that you should not give up “Active Income” altogether. All I am advocating is, your active income may help you fulfilling your daily needs but it surely not going to help you with your dreams! So it is necessary to start your own passive income sources which will help you getting continuous cash flow!
So here I am going to talk about 4 important passive income sources on which you can easily start working without any hustle.
This is information age and if you observe the world around you. You will observe what is selling now? No doubt it is information. There is a huge amount of information created by different content creators and as with the increase in Mobile and Computer platforms there almost infinite potential exist in this domain. So creating website/Blog post will help in creating a passive income stream.
There are many ways you can make a money, by running a website. You can create an information-based product and sell it online or you can just start with Blogging website Select the niche of your choice.Blogging is not rocket science, it's about being yourself, and putting what you have into it. Click To Tweet
The topic with which you feel resonated pick that topic and start writing about the recent trend or anything on the niche. This way you will able to attract visitors on your website and then there are many ways to monetize the site.
Below are the few ways by using them you can make money online
1 Using Adsense
2 Affiliate Marketing
3 Display Advertising
4 Promoting Product/Service
5 Selling Information Product
# Write E-Book
Many of you may be thinking that writing is not for you. You might be thinking that you are not competent enough to write E-Book. Well, you may be right up to certain extend but writing book is not difficult as you assume it is.
Yeah, if you are very sensitive personality then you probably possess opinion about many things and that can easily help you in writing. You can choose whichever topic you like for ex-Fiction , Non-Fiction, Story Writing or just Information Book. Depending on to what topic you can give justice you may go for it.I must write it all out, at any cost. Writing is thinking. It is more that living. - Anne MorrowClick To Tweet
Well if you know nothing about writing still there are ways to write E-Book. Here you don’t need to write a book from a scratch, all you need to do is to focus on writing a beautiful blog post. Then you can compile content of your blog post and come up with E-Book!
For ex. I have another website www.futureomen.com here I write about digital marketing. Here, I cover many areas of Digital Marketing. Like Affiliate marketing, now if I observe that I have written near about 15-20 Blog Post about Affiliate Marketing then I can write E-Book on Affiliate Marketing.
All I need is to compile all those Blog Post and after doing little editing I have my E-book ready on Affiliate Marketing! Isn’t it so easy? Well, once you write your E-Book then you can sell it on Amazon, Flipkart etc. Now as you have created a product you don’t need to look back your product will give you continuous cash flow in future endeavors.
# Start Investing In Stock Market
Undoubtedly Biggest source of passive income is the investment. There are many ways you can invest in the market. You can invest in the business, Real Estate(Renting Property), Stock Market etc. Well, all these investments will give you constant cash flow but out of these all vehicle of investments entering into the Stock Market is relatively easy and it can be less time-consuming. You just need the internet connection, Demat account and that’s it.I made my first investment at age eleven. I was wasting my life up until then - Warren Buffet Click To Tweet
Well, investing in stock market is a continuous learning process. But starting with less amount and then monitoring the profit/Loss you can surely able to understand the whole dynamic of the market.
Once, you become more competent and start to understand the market well, then you can easily create continuous cash flow using stock market. Like dividend and the return, you get from the stock.
# Start You-Tube Channel
When it comes to reaching maximum customers. Nowadays companies are focusing on creating video content. Nowadays people choose video over article if they want any information. Even social networking sites like Facebook and Twitter started focusing on video content.
With Facebook live now almost everyone post their videos online. This shows There is huge potential in this sector.Daily Vlogging is like keeping a journal where each new day is a new pageClick To Tweet
You can create your own youtube channel on a particular niche and then start making video content. Once you get minimum views on your channel you can advertise using Adsense and start making money. It again helps you to market your website on this platform. Because you will get more viewers on Youtube. So here you can advertise your website which ultimately increases traffic on your website.
It again helps you to market your website on this platform. Because you will get more viewers on Youtube. So here you can advertise your website which ultimately increases traffic on your website.
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