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The reason why this is amazing is because once you create the video, it will then exist forever constantly being your slave and working for you while you are sleeping.
Here are some helpful blog posts regarding the passive income that comes with a YouTube channel and blogging:
Everyone has a skill that someone else would pay for. For instance, there were around 100,000 individuals who wanted to learn how to jump higher from a man named Jacob Hiller. They wanted to learn so awful that they were willing to give him 67 just so that they can get an eBook that had the super secret exercises that allowed Jacob to increase his vertical leap. .
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Does Grant Cardone (best-selling writer and multimillionaire) consistently puts his money in multi family home real estate
When every single industry out there is constantly changing, real estate is the one thing that has been around the longest. It's one of the best ways to maintain your money due to the fact it can supply 10% returns every single year without any work making it one of the top sources of passive income. .
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For example, say you created $1 million. You didnt dismiss it dumb things like bottle service each weekend, fancy cars or that nice watch you always wanted. Instead, you stored it up and put it in a multi family home real estate investment.
Even if this investment only returned 10% of the money that you invested, that will be enough to pay you around $100,000 a year for the rest of your life. .
By investing in index funds, the know nothing investor can outperform most investment professionals Warren Buffet.
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Youre probably wondering exactly what exactly are index funds. Index Funds are kind of mutual fund that steps the S&P 500 (basically the best 500 stocks in America) and usually in the event that you bet on index funds and in the S&P 500, what youre actually betting on is that the fact that America will constantly grow. .
Index funds are excellent because over a long period of time (15-20 years), they can return up to 7-10% in your investment. Meaning, if you put in $1 million, you receive $70,000-$100,000 a year. This is perfect for people that arent as familiar with real estate since this method is all about setting it up with your bank and forgetting it allowing it to grow and build punctually. .
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What you do is each single month, without even looking at your paycheck, you automatically set it up and it automatically pulls money from the paycheck. It then invests it to you so you never need to see your money. And if you dont see that money in your bank account, you wont be tempted to spend it. .
The company I use to do my index fund investing is betterment.com. Make sure you check them out if you want to learn more about index funds.
Now the biggest goal with whatever you've got going on is to create a business to aid with this specific cashflow, and to use that extra cashflow you dont need in other passive sources like the ones mentioned above.
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Lacey Filipich has worked tirelessly to earn a more relaxed lifestyle. So far he's making about $5000 annually selling the books for $27 a pop on his website yourlawnandgarden.com, and he's confident he can make more. "That is very much a passive income and I'll start to work on this by being more competitive with the marketing online," he says.Google the phrases:"passive income" and you will turn a bevy of articles along the lines of"43 approaches to make a passive this website income".
He spent several years delving into the passive income scene and click to read more emerged something of an agnostic. He believes in its own existence and that you will find opportunities to earn money in a"smarter" way, but he is not convinced he knows the perfect way to find it.The 31-year-old began his hunt for the holy grail when he was working in a well-paid project that involved shift work.Gerry Faehrmann earns money out of e-books about running a lawn-mowing business.Credit:Dominic Lorrimer"I was in a career path which I wasn't finding overly satisfying," he states,"so I started looking into methods where I could have more freedom in my entire life and still earn enough money to support my family and do the things that I wanted to do in my life. "Diversity of income was important, also, so that he began reading books from the likes of Gary Vaynerchuk (writer of Crush It! Why now is the time to cash in on your passion), Tim Ferriss (writer of The 4-Hour Work Qualifications ) and Pat Flynn's Smart Passive Income blog.With a large family to support, Gerry Faehrmann is eager to increase his income by passive means.Credit:James BrickwoodThere's a lot of people who are saying: buy my path; use this program and you can create passive income.