Passive Income
Passive Income is much like a fruit tree. You clear the land, pull the weeds, plow the soil, and plant a seed. You nurture, water, and protect the seedling for years. You trim, remove posts, and put your hard work and love into the tree. The you rest. The tree does the rest of the work, and each year, with attention, it yeilds more and more fruit. Eventually there is enough fruit that you can trade some to somebody else that can watch over the tree for you. Passive Income is working smarter.
Passive Income is farming money, rather than hunting for it. It is money for which you worked once, and reap the benefits far into the future. Instead of hunting for dollar signs, you are hunting for percentiles. Wealth is spelled "per month".
Types of Passive Income
- Realty - Rental, Leases, Farming
- Investments - Stocks, Bonds, Mutual Funds, Small Business Ventures
- Trade - Buying and Selling, Imports and Exports
- Creating - Inventing games, tools; writing books, stories, poetry, software; playing music, video
The largest factor in Passive Income is understanding the value of your product. Most people undervalue their businesses, land, products, music, or inventions. Most people assume that if they thought of it, then there are already thousands of others that are already doing it. Most people work at jobs
Understand that your land, if properly used, is valuable. Your stories can make money, your music is unique. People will invest in your business. You can retire on that little nest egg.
The hard work comes in the beginning: the plowing and weeding. You have to find and prepare the land, find the right seed to plant, and put much sweat and tears into that tree. Finding the investor, the publisher, the renter, or the buyer is hard work. It is, in fact, the hardest part. If you give up, your tree won't grow. This is why most people pick the fruit from other people's trees.