How to Passive Income

Let Me Ask:
How much do you have saved? 
How long could you live for if your paycheck stopped coming in?  Maybe you've never thought of that and it might be a little bit scary to think about.

What is Active income / Earned income?

You go and swap your time for money, that’s called active income or earned income. It's what you do when you get a job, and that's what 99% of us in the world do.  

What Is Passive income?
The opposite of earned income is passive income, or recurring income.
It's where you do the work once, and you continue to get paid recurrently for very little or no actual work.
When your passive income, the recurring income, exceeds your cost of living - what you spend on food, utilities, petrol, all that kind of stuff - When your passive income exceeds your cost of living, then you are financially free. 

Why Passive income is that important? 
Let’s have Few More Questions:
Can you think of reasons why your paycheck would stop coming in?
-You break a leg. 
-You're sick, or you're incapacitated, 
-You can't swap your time for money.
-You get fired.
-It could be a global financial crisis, or it could be modernization.  
-The mining industry, or steel, structural changes that can affect us.  
-Or maybe you just fall out of your boss, and he asked you to trot along your way. 

Your financial security is effectively based on circumstances, or things that might be out of your control.
That's not a great position to be in, is it?  
You couldn't see yourself spending the next 45 to 50 years in this situation, right?

Is Passive Income Equals To Get-Rich-Quick? 
Noooooooooooooo, it is NOT at all.
It’s all about taking action, and continual sustained action can get you the results you want.
People hate their job; but they don't have a choice. If you don't know anything different, you always have to go and swap your time for money.

-You've got bills,
-You've got a mortgage,
-You've got to look after the children,
-You don't have an option. 

Often, we work so hard in the day, that we're knocked at the end of the day, or we don't have the headspace to start thinking about other things but I will try to help you a bit here.

Few Passive Income Generating Ways:

1) Selling:
You start to sell, you then build up a team of people selling for you, and eventually, they're all making money for you; you're not doing any work,

2) Affiliate Marketing:
You've got affiliate marketing where you drive traffic to websites and you make commission off all the purchases.

3) Owning a Business:
If you're not working in a business, you're not self-employed.  If you are, you're not really a business owner, because you're still swapping your time for money like a plumber unless they've got a firm, where they oversee it, and people are running out doing the work for them.
You're still swapping your time for money.

4) Amazon/Shopify:
You've got Amazon where you can set up a business where you buy products in China and sell them over here. Obviously, make commission on that;

I am not going to talk today massively about all the ways you can do it. I'll ask you to visit www.ZakirIbrahim.Com and subscribe for emailing list and I can send you more self-management Articles and how-tos to Passive income and what's right for you based on your income, or where you're at, or the time you have. 

To motivate you more about Passive income I’d really recommend you a book "Rich Dad Poor Dad" By Robert Kiyosaki, 
‘Read It And Start Taking Some Actions towards Passive Income’
Book Name: Rich Dad Poor Dad
How to Passive Income How to Passive Income Reviewed by Bhoral Bajni on February 24, 2018 Rating: 5


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