I love passive income…… and who wouldn’t?
The sheer concept of getting paid when you don’t have to work is quite irresistible to the majority of the worlds population. Its the number 1 reason why so many people turn to working online in the first place.
Imagine having the financial security to never have to work another day in your life if you don’t want to. Which of the options below would be the top reason for you to build passive income?
- No more hitting the snooze button to gain another 5 mins.
- No more frustrating and expensive commute.
- No more losing out on time you could spend with your family.
- No more having to answer to a boss that only cares about $$$.
- No more paying over the odds for holidays because you can only take them at a certain time.
- No more Monday morning blues.
I could keep going with hundreds more benefits of building passive income online, but the bottom line is this:
You Get To Spend Your Time Doing What You Choose To Do!
For me that is about travelling around in my camper van with my 2 wonderful dogs – in the photo below we are in Wexford having lots of fun.
At the same time as having all that fun, I get to teach others about making life changing money so they can have fun and live life the way they want to.
My satisfaction with life levels are in the high 90% range (I’d love to have better health or it would be 100%).
The Misunderstanding About Passive Income
Just before I talk about the number 1 way to create passive income, I’d like to highlight the fact that a lot of people do not understand how passive income actually works.
100% passive income is NOT easy to achieve. If it was then no one would do any work ever. It can take months or even years to get it working the way you want it too. That usually means working hard for a while before you can sit back and let it work for you.
Think about authors, and property developers, and actors for example. They all have to work first to create an asset that keeps paying them for years after the work part has ended.
There are very few shortcuts that actually work…..
Real Passive Income
Fact is, I get paid every single day regardless of what I do or don’t do. Some days I get paid more than others, but generally my income consistently increases day by day. I know for a fact I will be earning more this time next year than right now.
Real passive income builds itself because it becomes a self perpetuating cycle. A great example of this is a savings account which pays daily interest. You can start with $100 and in 1 day you will have more money (lets say $101). Now you earn more interest because you have more money in the account.
One online version of a savings account which pays daily interest is a popular blog. Each day that blog attracts more and more people who read the posts. The more people reading the posts the higher it gets rated by search engines like google. As long as you have monetised your blog posts in some way, then you will indeed earn more and more passive income from it as it grows.
A second online version is the revenue share concept. It might seem more comparible because you can put in $100 and earn a little interest each day…… however unlike a regular savings account, often the funds are not actually invested in something stable. I do use a few of these accounts, and am happy to recommend Ad Pack Share Club, Better Bits and Omni Rev to those who would like to try this option out. These 3 sites have paid me daily for over a year already.
The Number 1 Way To Make Passive Income Online
Personally I prefer the blog option when it comes to making passive income online, because it really becomes a very valuable digital asset over time. It works for you by attracting new readers and followers while you do all those other fun things you prefer to spend your time doing.
You can even set up a single page blog which promotes a popular product, and automate the traffic (visitors) to that page. This will keep generating sales and commission for you day in and day out…..
Add an extra page to your blog which promotes something else and hey presto you have 2 different income streams. 100 pages = 100 income streams.
Are you starting to see why blogging is the number 1 way to create passive income online?
My advice is do not delay, get at least 1 page published and work on automating the traffic to it. I will even provide you with a step by step guide to getting your blog started and a copy of a post that has earned me over $10,000 if you want it.
I will provide that to anyone who registers on Global Domains International using this link:
The sooner you start blogging the sooner you will see passive income building……