I love being a blogger. One of the main reasons is that I have been able to stop exchanging time for money with the passive income from my blogs. There are only so many hours in the day. There is only so much you can earn per week in most traditional jobs. Not a fan. I want to maximize my efforts. I want to make money passively even when I'm on vacation or taking a little break.
If you don’t have a mailing list, then build your list pre-launch. Create a way to capture email addresses on your site and social media accounts and promise that anyone signed up to the mailing list gets first dibs on the book or perhaps a special deal. It’s also important to collect email addresses, so that you can promote future books to existing readers.
I would not have read this post now if I could’ve slept. I’m glad I read it though because I have heard how easy and fast you can make “passive” income and not have to work many times. I am not one to spend on a lot of programs but I am finally realizing how much work is involved in getting to a point where you only work a few hours a week and make a good living.
To create residual income, you need to create something that people will continue to buy on a regular basis long after you’ve created it. A house is a prime example of this as people will continue to pay rent for the right to live in the house. A business needs to have products that are sold over and over again rather than trading the business owner’s time for money.
This aspect of maintaining a blog is different for every blogger. Some bloggers post just once per month and they don’t have to do much work on their sites. Other bloggers have a coaching business on the side or products such as books or courses. Some blogs hire out everything and the owner just have to manage the people. I’m not sure if that’s more passive or not. I guess it depends on how good you are at finding good help and managing people. There are many different approaches to making money online.
Once again, though, it’s like starting any company. While you might not necessarily need to know how to code, you do need an entrepreneurial mindset, work ethic, and personality type, and you’ll probably struggle for years, going through a string of failures before you finally get it right. If you’re successful, though, the passive income potential is enormous.
About Blog Simplify Learning For Earning. Passive Income Simplified is a website started by me, Kaizer Md Amin, to help you understand the basics of the financial markets so that you can become a smart investor instead of blindly following stock market tips and advice. You know that proven strategies exist which successful geniuses have used and still use repeatedly to generate passive.
But what if ABC evaluates its prospective investments based on the return on investment percentage instead? In this case, the Idaho investment center is currently generating a return on investment of 18%, so making a new investment that will generate a 16% return will reduce the facility's overall return on investment to 17.8% ($196,000 total profit / $1.1 million total investment) - which might be grounds for rejecting the proposed investment.
Being a successful blogger is a lot harder than it looks. Being able to consistently generate enough quality content to earn a loyal and enthusiastic audience separates the men from the boys and Jitendra is clearly one of the up and coming young men in the global blogosphere. He has the passion and tireless drive it takes to cover all of the bases and continually deliver fresh, valuable information that helps his readers make money and keep coming back for more
If you're looking to get started in real estate, look at a crowd funding solution like RealtyMogul. It works similar to LendingClub - you commit as little as $5,000 towards a property. When the property is fully funded, you become an owner, and will receive your share of the earnings and appreciation in the property. Check out RealtyMogul to learn more.
I would factor it in as a bridge gap. If you plan to keep doing it for 5 years, count it at 100% for those years. Then look at what the compound growth of your investments would be in 5 years, and calculate based on that number. I’m doing a beta version of a new course about mini-retirements right now with 25 people. And a lot of people are in your same boat, close to FI but not quite. So we work on different ways to organize the buckets of income to fill the gap for either a gap year, or semi-retirement. And create an array of backup options. 🙂
Think and Grow Rich – This classic was first published in 1937 but is still regarded as one of the best business books of all time. Why? The author, Napoleon Hill interviewed 40 millionaires to understand what made them successful. He tries to take all the wisdom from these interviews and organize it for his readers in the form of 13 principles that he believes can help anyone become successful. It’s still relevant for everyone today.
Start Something That Matters – Book by Blake Mycoskie, founder of Toms shoes. It’s a great intro to the world of social entrepreneurship. For those who don’t know what Toms is famous for, they donate a pair of shoes for every shoe sold. In a nutshell, this book has strategies on building businesses, a heavy dose of inspiration, and ultimately makes you feel like it’s possible that your one idea could change the world.
During the trial, Karen offered proof that she and Brad had built the business together, and that the downline was the result of their joint efforts – not just Brad’s. Karen argued that the residual income from the downline should therefore be split at a 60/40 rate on a monthly basis. Brad, on the other hand, asked the trial court to value the business. Upon valuation, the court could either allow him to buy out Karen’s share or direct that the business be sold, with the proceeds being split 60/40 between the two parties.
With that though, if we work smarter and not hard we can reap the benefits of someone else’s hard work and buy an already built online business that is earning passive income. Which is what I started to do and it worked for me. Sure I had to research and learn how to buy an online business and there is a slight bit of maintenance needed for each site but it too can be outsourced. Meaning if you really want to you can earn passive income and sit back on the beach. Actually right now as I type I am in Mexico, by the beach and surfing everyday. I don’t tell you this to brag, I tell you all this because you are right. Building a business, any business is hard! Buying one isn’t super easy either, but you can do it and you can earn passive income with very little work, you just need to work smarter and not hard.
The Total Money Makeover – Great book on getting your debt under control. When the average American has nearly $10,000 in credit card debt, his message is extremely relevant. While I don’t agree with everything he says, it did make me way more conscious about the power of not having any debt. After reading this, I ended up buying my next car in all cash. Read my full review here.
About Blog An engineer tinkering with passive income. I’m Jalpan Dave and my interest in money, investing and entrepreneurship goes back to when I was 13 years old. I started this blog to share my journey and experience with anyone who may benefit from it. I also want to document my journey as I build a stream of income from all 4 categories (paper assets, real estate, business and commodities).
I love how real this article is. I’m so exhausted at seeing headlines and articles that lead people to believe blogging is somehow passive income and that passive means your not working. It’s heartbreaking, but I’ve seen several friends dump their entire life savings (and lose it) to try and live off of a blog based on the reportedly easy and formula-like ways to earn six-figures overnight. One of my friends just lost his wife, child, and home because he tried to jump right into blogging for a living and didn’t front load the learning because so many misleading articles told him it would be easy. He worked off of infopreneur blogger to-do lists like “get a URL, “write lot’s of content,” and “promote on social media” to win millions of visitors in just three months. Thanks for keeping it real.
Generally, the maximum amount of disability income that can be purchased is 70 percent of the policy holder's occupational earnings. In addition, the period of time between the commencement of the disability and the payment of monthly benefits, known as the "waiting period," generally runs from 30 days to one year. When deciding on a plan, there are a few basic considerations to take into account:
When you read Russell's new book. You will be amazed at how simple and effective his strategies are. It's like mining for gold nuggets and your striking it rich in any direction you swing! Every chapter gets you one step closer to burning bridge to your old marketing and sales ways. Expert Secrets sent me down a path in story telling and branding I didn't expect to pursue.
I have posts that are heavily linked to Amazon and some that aren’t to keep things balanced out. My heavily linked posts are product guides or stuff I was searching for my kids. Some examples are: Non-toxic high chair, 20 non-toxic teething toys, and Gift for 2-3 year olds. My blog is “green” so a lot of my posts are about non-toxic products since this is what I personally look for.
Then, at the end of three months from the date of the domain registration, I'll let you know how much the blog is currently earning. I'll share traffic stats (you'd be surprised how little traffic you really need in order to earn a decent start-up income). I'll share specific revenue stats (as much as I'll be allowed to based on the ad networks' policies). I'll tell you exactly what I did to get there. My goal is to show you that you can at least hit a three figure income in three months. Obviously I'm not aiming for $100 to just call it a day. I will do the best I can using as little as I can in a model that anyone can follow. Some general updates will be posted here just to let you know the project is still under way. I hope that teaching by example will help to alleviate some of the fears some freelance writers have about blogging for residual income. Will you be along for the ride?
Another way to generate passive income is to invest and be a silent partner in a business. This is very risky, but with risk comes the potential for high returns. For example, several years ago both Lyft and Uber were looking for private investors to invest in their companies. Today, they are worth billions - but you as an investor would only reap that benefit if they go public via an IPO, or get acquired. So, it's risky.
As always, I’m here to answer questions (within my ability) and I can always help you find that YouTube tutorial you need. When you are REALLY ready to start taking your blog seriously, I have many resources available on my learning site, Adventures in Blogging. The Income & Traffic Bundle is a great place to start if you’re dying to learn everything you can about traffic & income.
If Uber was a thing in my country I would do this every day as you can earn enormous amounts of money just by driving other people to work and back home, while doing the same thing for yourself. This can turn out to be a fun experiment as it will bring you money, and you will have people in your car keeping you accompanied on your way to work and back home. It’s like a school bus, but better!
Residual disability policies pay benefits according to the amount of income you have lost because of your disability. These policies pay benefits even if you can work part-time and are not totally disabled. The benefit is based on the percentage of income you earn working part-time in relation to what you used to earn when working full-time. Most companies require a loss of income of at least 20 percent compared to your pre-disability income in order to qualify for residual disability benefits.
Now that we've found how to compute residual income, we must now use this information to formulate a true value estimate for a firm. Like other absolute valuation approaches, the concept of discounting future earnings is put to use in residual income modeling as well. The intrinsic, or fair value, of a company's stock using the residual income approach, can be broken down into its book value and the present values of its expected future residual incomes, as illustrated in the formula below.
The topic of buying and selling blogs deserves it’s own book though and is a very difficult skill to master I must say. I rant about the greatness and simultaneous pitfalls of marketplaces like Flippa elsewhere on this site, but needless to say I think this is it’s own expertise; worth learning more about for a lot of us who know that starting a business (getting momentum) is a lot tougher than fixing up and steering an existing business to greater profits (maintaining and directing momentum).