I live by two sayings when it comes to making money
1-Having money is all about having ideas, if you don't have money you just lack ideas
2 - Wherever there is a will there is a way, if you can't find a way.... you're just not willing enough.
These two phrases greatly helped my investment career. All the planning in the world won't prevent you from hitting a few hurdles in life. Everything you do has some degree of risk.
If you're still reading, then you are serious about building wealth. So let's discuss the fun stuff.
Investing for passive income can be a lot of fun and you can build a lot of wealth if you do it right. There are points to consider, but don't worry, they are straight forward.
1) Do your Homework - Learn before you earn
Most individuals get into investing because they hope to make a quick buck with no effort. While it is possible to generate income with little effort, you do need some degree of knowledge on the process.
Leaping into investing without a parachute (knowledge) is a guaranteed way to failure, AVOID AT ALL COSTS!
2) Don't pick investment strategies solely based on the potential or promise to make a lot of money.
Look for money-making ideas that cater to your strengths and personality type. For example if you are shy, avoid strategies that require you to make face to face contact. If you are not the people pleaser then something like that would not be your cup of tea.
As another example, if you like numbers and data, perhaps there is life for you in online trading or tax lien investing.
Make a list of your strengths and weaknesses, then choose your money-making path wisely. Using this thought process was what lead me to internet marketing and options trading online.
3) Be open to unique possibilities
There is nothing to it, but to do it. There are thousands, possibly millions of ways to build wealth with passive income or even active income. There will always be those that will tell you that something cannot be done, don't listen to them. If you have a strong desire to do something, just do it!
I guarantee you that if you ask all the millionaires if someone ever doubted them, they would all say yes.
1-Having money is all about having ideas, if you don't have money you just lack ideas
2 - Wherever there is a will there is a way, if you can't find a way.... you're just not willing enough.
These two phrases greatly helped my investment career. All the planning in the world won't prevent you from hitting a few hurdles in life. Everything you do has some degree of risk.
If you're still reading, then you are serious about building wealth. So let's discuss the fun stuff.
Investing for passive income can be a lot of fun and you can build a lot of wealth if you do it right. There are points to consider, but don't worry, they are straight forward.
1) Do your Homework - Learn before you earn
Most individuals get into investing because they hope to make a quick buck with no effort. While it is possible to generate income with little effort, you do need some degree of knowledge on the process.
Leaping into investing without a parachute (knowledge) is a guaranteed way to failure, AVOID AT ALL COSTS!
2) Don't pick investment strategies solely based on the potential or promise to make a lot of money.
Look for money-making ideas that cater to your strengths and personality type. For example if you are shy, avoid strategies that require you to make face to face contact. If you are not the people pleaser then something like that would not be your cup of tea.
As another example, if you like numbers and data, perhaps there is life for you in online trading or tax lien investing.
Make a list of your strengths and weaknesses, then choose your money-making path wisely. Using this thought process was what lead me to internet marketing and options trading online.
3) Be open to unique possibilities
There is nothing to it, but to do it. There are thousands, possibly millions of ways to build wealth with passive income or even active income. There will always be those that will tell you that something cannot be done, don't listen to them. If you have a strong desire to do something, just do it!
I guarantee you that if you ask all the millionaires if someone ever doubted them, they would all say yes.
About the Author:
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