top of page

Most people don't know how to get passive income

Updated: Jun 12, 2023

People want passive income, but most people don't realize that it only comes a few ways


You basically need to either

1.) Buy something

2.) Build something

3.) Be given something


Let's think of a few examples


● Rental House

● Bonds

● Software AI robot that earns you money

● Network marketing


In all 4 examples, you probably either have to buy it or build/develop it. In the network marketing example, you must build a downline/team and/or build or a loyal customer base that keeps buying repeatedly.


So, unless you are given a gift, it takes work or money to acquire passive income.

In other words, you can't be passive if you want passive income.


However, there are some exceptions to this, which I will explain at the end.


But first...


... some people think of savings accounts, money market accounts, and certificates of deposit (CDs) as a way of making passive income, but most don't take into account inflation. Usually these things bring in lower earnings than the amount you lose due to inflation. If inflation is 8%, and your certificate of deposit is earning you 5%, you're actually losing money, not earning it.

If you want a professional opinion, check with a professional financial adviser and see what they say about this.



The exceptions


What are the exceptions?


1.) You can start small. We have a list of ways to start small. You can check it out here


2.) You can get lucky.

2.a.) You could be in network marketing and, in theory, possibly sign up only 1 person who goes on to build a huge organization, from which you benefit. This of course practically never happens.


2.b.) You could be one of the first in your area to advertise a product or service that is a subscription, that pays you commissions each month, and that sells really easily.

How would you do this passively?

You can buy an advertisement and put it on your car, which doesn't cost much. It's very unlikely this will make you wealthy, but your chances of getting lucky or earning at least a little are probably a bit better with this than they are with the network marketing example above.


But what would you advertise?

Will the company even let you advertise on your car?

Will the company help you do so?




Hope this helps!



.

.



Links are affiliate links that reward us.

Any offer on this site may be expired before you would otherwise qualify.

151 views0 comments

Recent Posts

See All

Comments


bottom of page