04/10/2021
5 surprising investments that masquerade as passive income but are draining your time and money fast.
Earning money while you sleep.it sounds awesome,but it also sounds shady. That's how all the billionaires out there made their money. There is not enough hours in a day to work for all the money you would love to earn. The best and proven way through out history is to let your money or your skills work in your absence, that way it translates to making money while you sleep.
So what is passive income?
This phrase is often misused and misunderstood.
Many people think passive income is all about getting rich quickly. It has an 'awoof' appeal ( getting something for nothing). However passive income still involves work. You just have to do the work upfront and enjoy the profits later. Most passive income still require time to time management like repairs, repainting, upgrade or updates in order to keep the money coming. The best part is that the probably beat the hard work by a lot.
Passive income is a way of maximising profits so your work load can reduce over time. I. E your efforts go down and your money goes up.
E.g buying a property, while you will need to take some time out to do the legal works, adverts and furnishings. Once your tenants are in, you start earning with little to no work. It just means you have to make a long term decision but short-term hardwork.
However you have to be willing to commit to hardwork, polish your skills and drive money towards your passive income goal.
In the long run lots of passive money is coming your way.
Is your side hustle allowing you to earn money while you sleep? If no, it is not a passive income.
I personally do not think you should have a side hustle that tasked as much time and effort as your main job. Having 2jobs probably means a lot of things will be wrong with your overall output. So when searching for a side hustle, it better to search for a passive side hustle. Thanks way you will have the time and energy to actually enjoy and appreciate the money you are earning.
So the question is, is your passive income really passive? Their many money draining investments that masquerade as passive income. Here is how to watch out for them.
If it requires no work at all. Then it's probably a scam
If the company has nothing to sell.
Multi level marketing is awesome if at the beginning. The losers are at the end.
If you have to keep working constantly
If you have to do guess work
If there is no blue print
5 investments that masquerade as passive income but are draining your time and money fast.
Side hustle: as the name goes it involves constantly working for money. The aim of passive income is to build wealth so you can stop hustling and start living.
Consulting and coaching: If you get paid big bucks per hour, it's still not passive if you get paid for your time. Imagine how much you can make if you leverage your skills and turn them to digital product you get to help more people with your skills too. You can also teach others and let them do the work for you.
Investing for speculation: stock appreciation is a guessing game, albeit an educated guess. How ever it is not a passive stream of income. Investing in high dividend returns stocks is what passive income is all about. It provides you a regular income without you doing anything ( except research of course. She you don't get scammed). If you can only earn money by selling your stocks when it appreciates, it is not passive income.
Freelance: the freedom to choose the time you work, how much you earn and how long you work is what freelance gives you. However it does not give you the freedom to earn while you sleep. A good way to leverage your freelance skills is to turn them into digital products.
Betting: I heard that betting is considered a form of Income now. This can drain your money faster than a sinking stone truck. Betting is a pastime and a form of gambling. Depending on it for passive income is like putting your eggs in a broken basket.
It gets tiring to work every week with minimal break. You barely have time for that side hustle that is supposed to help you ride over the hard times. Why not choos a passive income as your side job. So you can earn while resting and take that vacation you are too afraid to take, build that house you are too broke to build, marry that woman you are too shy to talk to and quit that job you hate so much.
Below are 10 passive income ideas that you can start with no fuss.
Selling Information products: you have probably seen people selling ebooks and encourages all over and you are thinking the market is already full. Nope the surface had not even been scratched yet. Their are so many opportunities in this market. You can start with the easiest one which is to write a ebook. If you are ready to start selling within 48hours. Check out this ebook to cash coursehttps://selar.co/ebook2cash?affiliate=xazv.
Real estate: buy a house, turn it into a bed and breakfast or a hotel. The simplest way is to rent it out of course. But hospitality industry is bigger and brings more money
Real estate marketing: advertise land and house sales for others and get paid huge amounts of money to do it. It requires minimal work but surprisingly huge profits.
Affiliate marketing: is when a person becomes an intermediary between buyer and seller. Just like when you tell your friends about that new shoes you got from your favourite store or that new movie on Netflix. Get paid for doing that, you do it every day anyway.
Create an app: if you have the technical skills, then you are good to go. Put your ideas to action and put it up for download, even when it's free it makes a lot of cash. If you don't have the technical skills, find someone who does and share the proceeds with them.
Dividend stocks: find a legit high dividend stocks. Invest the funds and start earning. Just make sure to do your research before signing up.
Buy or start a blog: you can start a blog and earn money through advertising. You write articles on your interest or what others are Interested in. You can also use the blog to create a sales funnel for other products you want to sell.
Drop shipping: it's the new craze right, but don't be scared, there is still space in the market. Just find the right company, the right goods and the right customers to get started immediately.
Become a silent business partner: put your money in a promising start up or a renowned company's new project. You get to help others and earn without doing anything.
Start a YouTube or pod cast channel: create usefully, funny or inspiring videos. Gather a following of upto 1000 and start getting paid by YouTube or you can just use it as an affiliate page link before you get to 1000 followers. Either way, money keeps coming.
I think it's awesome that you took your time to read this far. I bet you are ready to start making some serious money. One of the easiest ways to start making passive is to create and sell digital products and the easiest to start is ebooks. However no matter how easy it seems, it's better to have a guide or a form of coaching. Click the link below to learn all you need to learn to start writing and earning immediately. https://selar.co/ebook2cash?affiliate=xazv
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