What is smart passive income about is any regular income derived from sources other than an employer or contractor. This could mean any interest that is earned on investments, like stocks, or money market accounts. But I beg to differ on this definition.
I believe it should also include ANY income derived while you sleep.
I like the ring of that, while you sleep. This could include all kinds of income, especially with Internet access. Since websites never sleep and are opened 24/7, definitely having a website would also be considered “passive income”?
I believe that “smart passive income” can be earned just like regular income. This makes it income that you can count on.
I realize that since I am a child of the ’60’s era and where hard work and loyalty to my employer were ingrained into my being, it is hard to imagine any other way of supporting my family. However, since the Reagan years of busting the unions and starving from the so-called trickle-down economics, I have “seen the light” and the end of that long dark tunnel.
I have opened my eyes to the ever-changing world of economics and I am ready to venture out of my comfort zone and not just find my piece of the pie, but “make it”.
I have always been a risk taker. I didn’t conform comfortably into society as a teenager. I grew my hair long, drove fast cars, took a lot of risks. But I am still standing, which is proof that GOD answers prayers.
I knew that in order for me to create a legacy for my family that I couldn’t depend on my employer to make that happen. I needed something else. I wanted my money to work for me, not me working for my money. I needed to stop trading my time for dollars.
What could I possibly do to get my money working for me? I already had a 401K but it was not producing enough income to live on. Plus my bank’s savings account is a joke.
So I asked myself this question: “What can I do to earn a smart passive income?”
Examples of Passive Income
- Appreciation of property of real estate.
- Interest on money in savings account.
- Profits on investments.
- Dividends earned in the form of the cash flow of stocks, securities, etc.
- Royalties earned from an intellectual property like music, books, pictures, etc.
- Earning from Patents.
- Vending machines.
- Interest earned from lending money.
- Income from rental property.
- Income earned from the Internet.
- Joint Ventures such as partnerships.
- Involvement as a silent partner in business.
From the list above what would be the easiest to start? The least expensive opportunity would be the Internet. How do I accomplish this? The only other convenient way – start my own online business!
Without having a large amount of money to invest in renting a store building, inventory, hiring employees, insurance, taxes, etc, leaves only one other option opened to me. The Internet.
Does this appeal to you? It surely appeals to me. Let me count the ways:
How to start a business without an investment is the choice I’m making when selecting how to earn smart passive income. Online marketing is the easiest way to earn passive income. It is also cheapest to begin. The best website builder for a small business will show me everything I must know!
You can start part-time until the revenue is flowing in steady. It doesn’t take a lot of money upfront to get started and the harder you work the more potential of earning a higher income.
The benefits I see above are using all my fingers to count on. Plus the tax incentives are over the top! By starting my own business online my home gets all the tax incentives that my employer gets. That’s a huge amount of savings/write-offs every year! See the list of write-offs with Home Business Tax Savings.
I listen to Dave Ramsey every day and he claims you can live debt-free, that there is another way. The average person living in a mortgaged house, with a BMW sitting in the driveway is no longer the American dream.
The new dream is to live in a house that is paid for, a paid for automobile sitting in the driveway, money in the bank and your children with college paid for.
Are These Goals Realistic?
I truly believe that we all can control our own destiny. I know that having the right knowledge will set you free. I also know that knowledge is meaningless without an application. You just have to know where to start.
Wealthy Affiliate helped me opened that door to a world of vast opportunities with the platform to achieve
anything you have ever dreamed about.
By having several niche websites each producing income, or as Robert Allen say’s, “multiple streams of income”, in essence, you have created a “smart passive income stream”.
It still takes hard work to get an online business off the ground. Like building a house, it takes a good foundation to support the structure. That’s what Wealthy affiliate provides.
It gives you the foundation necessary to achieve your goal of being in control of your own destiny. The training, the support, the tools, and a community of like-minded entrepreneurs.
You get answers to your question in real time, not days later like in most other programs. The training videos are unmatched anywhere on the Internet. The benefits of membership far outweigh any cost or expense you accrue in building your online empire. Because it still boils down to you.
Success isn’t for everyone someone said. The people that believe that they are entitled will never succeed.
The people who continue to do all the same things day after day and wonder why things don’t change will never succeed.
You have to have a plan.
The plan is to start where you are now and where you want to be. Now by moving backward, you can start building a plan, step by step, to get to your new life. You have to decide to set goals and work hard to achieve them, one by one. The biggest thing to remember: NEVER QUIT!
Life is a journey. We all have a bucket list of things we want to do or accomplish. Have you completed your bucket list yet? I have only just begun.
Like the old Tom Jones song, “I did it my way”, and some things I want to change now. One of them is with earning passive income. Then that line in the song where Tom says, “regrets, I had a few, but too few to mention.” I will be able to happily say yes, “ I did it my way.”
If you also want to earn passive income from your own online business then CLICK HERE NOW.
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To Your Success!