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Passive Residual Income Ideas and Opportunities

http://groups.blackplanet.com/PassiveResidualIncomeIdeasandOpportunities

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  • Members: 2
  • Category: Business & Finance
  • Type: public
  • Location: Irving, TX
  • Date Founded:
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It's true LIFE IS NOT ALL ABOUT MONEY. We all know money is a just a tool used to maintain responsibilites, achieve goals and develop the type of lifestyle we find to be positive and happy. Many strive to maintain their physical, mental, emotional aspects of life but sometimes have very little knowledge of a better way to thrive financially. We find ourselves saying if we just had the money when the issue is knowledge and resources of how to get the money so we can get the ball rolling.

This Group is dedicated HELPING PEOPLE TAKE ACTION to optimize their ability to acheive financial freedom.

Financial freedom can be described as having your money make money for you after your initial investment of time, effort and money. Doing what you have to do to get started and then enjoy having the ability to put forth very little or no effort for your money to continue coming in sounds alot better than trading your time for money.

which one would you prefer?

Earned Income: (also referred to as linear income) This is where there is a direct correlation between your time and income - They are directly connected. In other words, you're trading your time for dollars -- You work 8 hours, you get paid for 8 hours... You don't work - You don't get paid! Examples: A Job or income endeavor requiring your time & involvement such as any typical business manager or employee on any typical job. Or any business (usually service businesses) in which You-Must-Be-There in order for it to operate or get paid. Of course this is the type of income the masses are familiar with and are usually afraid to get away from until they hear about the next types of income.

The following is a non-exhaustive list of sources of passive income which potentially yields financial independence.

~Rental property- enjoy receiving money long after you get back the money you put into you property ~Money from reoccuring billing- example: have someone subscribe to something initially and everytime they continue making payments you get paid. Magazines and insurance companies use the same strategy ~Network marketing- If you get someone else to manage your people then yeah it can be considered passive. ~Dividend from stocks, bonds and income trusts ~Bank fixed deposits and monthly income schemes ~Royalty from things you create (i.e. books, patents, music, photography, damn near any creative work etc...) ~ADVERTISEMENT REVENUE FROM BLOGS AND INFORMATIONAL WEBSITES (aka virtual real estate) ~Alimony, Child Support or Child Trust Fund- baby mamas and daddies know all about this type of income ~Renting out professional or academic qualifications- I didn't know what is was until I looked it up and it makes sense. ~Interest earned from deposit accounts, money market accounts or loans- People actuall can live off of interest. ~Oil leases ~Owning notes and mortgages- another way to live off of interest ~Business ownership- Once you get to the point where you can hire a manager to do the work and still make a profit only then are you really doing something but your profit soley depends on work you have to put in...well you get what I'm saying. ~patent licensing- Invent something, sell an idea and have people pay you for it ~trust deeds

People with money know how to make money besides having to work a 9-5 making someone else rich .
The point of this group is to generate ideas and create REALISTIC opportunities that require little money to start but you get the ball rolling you can repeat the process and watch the money grow. People get creative when they are broke. Seeing how possible things are is a good way to gain confidence that financial freedom is achieveble even in your curret situation. People are already out there making passive residual income so all you have to do is tap into the knowledge and wisely apply that knowledge.

You are not alone so lets get started.


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