Posts
There are two sayings I live by
1 - Money is just an idea, people who lack money simply 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.
Living by these words has greatly helped me in my investment career. No matter how well you plan for something, you should expect that you will have some challenges along the way. Everything has it's risks.
Well, now that I got that boring part out of the way, let's talk about the fun part.
Building passive income is fun and rewarding when you do it right. There are some keys to doing well and they are pretty straight forward.
1) Research research research - Learn before you earn.
Many fail because they get into investing while having unrealistic expectations about making money. Don't get me wrong, it is possible to build massive wealth with little or no effort, but that happens after you get some knowledge on a wealth building strategy that suits you.
Leaping into investing without a parachute (knowledge) is a guaranteed way to failure, AVOID AT ALL COSTS!
2) Don't invest in something based on the amount of money you can make.
Try to pick investment opportunities that suit your personality. As an example if you are the reserved type you should avoid choosing sales type strategies. If you are the conservative type then strategies that require you to be outgoing are not for you.
Another example, if you are a detail oriented person that likes to see data, then maybe there is an opportunity for you in stock options trading, or real estate investing.
Take a note of your strengths and weaknesses, then choose a strategy that gels with your strengths. This is how I got my start in internet marketing and stock options investing.
3) Approach investing with an open mind
The only thing stopping you is you. There are a plethora of ways to make a passive income. Don't listen to the nay sayers and doubters. If there is a will there is a way, find your will and way to make it happen.
I will bet my monthly earnings (a lot of money) that if you asked all the millionaires if someone at one time told them they would fail, ALL of them would say yes.
1 - Money is just an idea, people who lack money simply 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.
Living by these words has greatly helped me in my investment career. No matter how well you plan for something, you should expect that you will have some challenges along the way. Everything has it's risks.
Well, now that I got that boring part out of the way, let's talk about the fun part.
Building passive income is fun and rewarding when you do it right. There are some keys to doing well and they are pretty straight forward.
1) Research research research - Learn before you earn.
Many fail because they get into investing while having unrealistic expectations about making money. Don't get me wrong, it is possible to build massive wealth with little or no effort, but that happens after you get some knowledge on a wealth building strategy that suits you.
Leaping into investing without a parachute (knowledge) is a guaranteed way to failure, AVOID AT ALL COSTS!
2) Don't invest in something based on the amount of money you can make.
Try to pick investment opportunities that suit your personality. As an example if you are the reserved type you should avoid choosing sales type strategies. If you are the conservative type then strategies that require you to be outgoing are not for you.
Another example, if you are a detail oriented person that likes to see data, then maybe there is an opportunity for you in stock options trading, or real estate investing.
Take a note of your strengths and weaknesses, then choose a strategy that gels with your strengths. This is how I got my start in internet marketing and stock options investing.
3) Approach investing with an open mind
The only thing stopping you is you. There are a plethora of ways to make a passive income. Don't listen to the nay sayers and doubters. If there is a will there is a way, find your will and way to make it happen.
I will bet my monthly earnings (a lot of money) that if you asked all the millionaires if someone at one time told them they would fail, ALL of them would say yes.
About the Author:
If you're ready to learn how tomake passive residual income online, then visit http://bestresidualincomestrategies.com/ to find the best advice on ideas for generating a second income today.
No comments:
Post a Comment