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89 pages

English

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Most people have one stream of income: their job. You could lose everything without saving and investing your savings in assets that generate additional income streams. What do you do if you put all of your eggs in one basket?Discover strategies for creating passive income and learn how to live a less stressful and more productive life with The Passive Income Primer eBook!The Passive Income Primer eBook is for folks who are tired of working from 9 to 5, who want more freedom and more cash flow, or who just want to make more money from their money. It is designed to help people of all backgrounds accumulate wealth with relatively-little effort, allowing them to devote more time to hobbies, spending time with friends and family, or simply resting. The dream of most netizens is to earn a passive income. There's nothing like getting up in the morning and discovering that you've made money while you were sleeping.Most people believe that the way to financial success is working a salaried job, diligently saving, and being careful in spending. Author Tom Corley conducted a five-year study on the habits of wealthy people. Based on the responses of over 200 millionaires, he concluded that most generated their income from numerous passive sources. This makes a lot of sense: the other streams can help you keep going without dramatically downgrading your lifestyle when one stream is negatively affected.While these streams require a significant amount of work to get started in the short term, they will be more than worth the time, effort, and energy. Examples of passive income sources include real estate investments, royalties from book publishing, and interest from a high-yield savings account. People usually set up a passive income source (either in addition to or instead of their full-time job).This resource will take you from novice to ninja in short order. You will acquire numerous passive income ideas, whether it's for investments, eCommerce, renting, marketing, or self-improvement. This eBook is an effective way to start earning an easy passive income through the plethora of opportunities available. In this eBook, you will get to know the insights of passive income and how it may help you live a more prosperous life without compromising time with your family or pursuing your dreams. Creating a passive income stream can help you earn extra cash, develop a secure retirement plan, or help achieve financial freedom. By the end of this eBook, you will be familiar with the pros and cons of creating passive income. It will give you a list of possible business ventures. So fasten up your belt and prepare for an exciting ride!This eBook includes:- A detailed personal narrative that will engage your big "why" and leverage your desires into a profitable passion- A comprehensive Passive Income Self-Evaluation Guide that will help you in understanding your current financial strengths, weaknesses, opportunities, and shortcomings- Ten categories of passive income strategies, including investment- Engaging infographics that narrate relevant industry trends-Direct leads to dozens of passive income related services and products

Sujets

Employabilité, métiers et formations

Entrepreneurship

Informations

Publié par	Distributed by eBookpartnership
Date de parution	01 avril 2022
Nombre de lectures	0
EAN13	9781839784606
Langue	English

Informations légales : prix de location à la page 0,0200€. Cette information est donnée uniquement à titre indicatif conformément à la législation en vigueur.

Extrait

THE
Passive Income
PRIMER

“How to Make Money In Your Sleep”

JARRED WHITE

Copyrights©2022 Jarred White
All rights reserved. No part of this book may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, without the prior written permission of the publisher.
ISBN (979-8-88589-736-5

2

Table of Contents

CHAPTER 1: INTRODUCTION
CHAPTER 2: KNOW YOURSELF
CHAPTER 3: INVESTMENTS
CHAPTER 4: KNOWLEDGE, SKILLS, AND ABILITIES
CHAPTER 5: ADVERTISING & MARKETING
CHAPTER 6: MARKETPLACES & INTERMEDIARIES
CHAPTER 7: ECOMMERCE
CHAPTER 8: CRYPTOCURRENCY, BLOCKCHAINS, & NFTs
CHAPTER 9: LICENSING, RIGHTS, & ROYALTIES
CHAPTER 10: RENTING & LENDING
CHAPTER 11: PHYSICAL BUSINESS
CHAPTER 12: SELL YOURSELF

CHAPTER 1:

INTRODUCTION
T welve.
That's the number of angry emails, disappointed customers, and faulty products that shaped the "grand" opening of my map-themed print-on-demand debut eCommerce venture. It was a complete disaster.
Months of research, trial-and-error, editing, coding, and brand-building went down the drain. I would share my eCommerce story of triumph in a forthcoming memoir about my wild (and instant!) successes as an eCommerce natural into a six-month exercise in futility.
"It has to be easier than this," I told myself.
I was half-right.
_____________________
As the youngest member of a family of four growing up, I was the only one in my family who did not pursue a career that dealt in money, finance, or accounting. My mother was an accountant who worked for the IRS. My father was a stockbroker and a retired financial planner. My brother works for the Treasury Department.
Even though I never chose numbers, in some ways, numbers chose me. As a kid, I would ride shotgun with my dad as he traveled around rural Oklahoma, giving all kinds of financial presentations. As a retirement planner, he would talk through retirement accounts, strategies for investment, and planning for your financial future. Even though I found it all as dull as it could be, doing nothing was even more boring.
So, I'd read through all the pamphlets while we were on the road: bonds, 401 (k)'s, annuities, you name it. By the time I was in 6th grade, I could explain the differences between a Roth IRA and a traditional one. But that was it: in an adolescent life geared toward sports and school, these ideas,
strategies, facts, and acronyms simply bounced around in my head. Other than an occasional trivia night or curious friend, whatever knowledge I had gained about finance and retirement was dormant...until 2016.
Fresh out of seminary, I felt stuck. I lived in a small, two-room apartment on the ground floor of a small bed-and-breakfast, working as a live-in night manager. While I wasn't sure about my vocation, I was convinced that I needed to make money.
In addition to working at a church part-time, I tried rideshare driving, online ESL teaching, freelance transcribing, and odd jobs on Craigslist. While I could make it work, it was neither sufficient nor sustainable.
Then, I discovered dropshipping. For weeks, I researched niches, platforms, products, SEO, all of it. Once I understood the value of making money passively, I was hooked. I bought four or five different books on dropshipping, made my eCommerce plan, and I was off to the races.
Over the past six years, I've read hundreds of blog posts and articles on different forms of what could loosely be called "passive income": forms of business, investment, and side gigs that would consistently produce some level of revenue and required initial setup and some maintenance, but not constant effort or work.
I've built three eCommerce stores, a travel site, a blog, and a short-lived white label digital marketing firm. I've had some successes. I've also failed quite a bit: I've underestimated start-up costs, overestimated demands for a product niche, and outsourced the wrong things (or hired the wrong freelancers).
Creating this course means more than a few tips on making a couple of bucks on the side. I'm building the passive income course a past version of myself needed. I was struggling month-to-month, eating ramen for dinner every night. I needed reliable and experienced guidance on creating sources of passive income to make my life easier. Between chronic illness and a deepening sense of the value of my time (and how I'd like to spend it), passive income has become a bridge to a life that many of us feel so distant from.
Theologian and pastor Howard Thurman is the author of the well-worn quote that we "don't ask what the world needs. Ask what makes you come alive and go do it. Because what the world needs is more people who have come alive" Creating streams of passive income leads to time freedom, which allows us all to live into a version of ourselves that is more free, more true, and more alive. I want to be alive, and I'd like you to join me on this journey.
This eBook is designed to introduce you to passive income, explain its value, help you figure out your advantages, and selct strategies that will help you reach your goals.
__________________
"Blah blah blah, when are we getting to the MEAT, the passive income strategies and secrets!?"
Soon. But, my story is important. I tell it for only one reason: your story is important, too. Your past failures, successes, and experiences with money and finance impact your approach, what you're drawn to, and the story you tell yourself about how to create the lifestyle you want.
What led you to this course? Maybe you want to ditch your soul-sucking corporate 9-5 altogether; perhaps you love your job but would like some extra cash to take your kids on vacation or fix up your home.
Whatever your story is, it is crucial to understand. As we'll discuss later, allowing your story to influence the kinds of passive income you pursue is not only optional ... it's preferred.
Our early experiences with money and finance also impact our decisions: did you grow up in a context in which money was scarce? Was it frequently discussed or hush-hush? For example, you might be uncomfortable talking about money with others. If so, creating an online course on finance would be very difficult if you don't want to answer your student's emails regarding your content.
What's happening in your life now? In terms of short- and mid-term success, taking account of the responsibilities, commitments, advantages, and opportunities in your current situation is essential.
Our "why" impacts how we perceive the options we have and the choices we make. Attempting to fight against these stories is like paddling upstream: row with the flow or pick a different river. For example, if you're an undergraduate looking for an extra $100 each month, investing in a bond that won't reach maturity for another half-decade is not the best match.
hether your financial goals are making $100/month or $100/day, there are intangible aspects of the journey to your passive income objectives. While we will address each of these in more detail later, long-term success will require:
Desire→ the reality is that we each have desires: for connection, security, value, adventure, you name it. On the path to passive income, we'll talk about how our desires can be tools used to achieve our goals.
Deciding→ Once we know what we *want* to do, how do we choose? We'll talk through how to research well, make a plan, and stick to it.
Doing→ We've got to do it well. One of the misconceptions about passive income is that creating it is easy. "Passive" doesn't mean "easy."
_______________
In working through this course, I'm operating with assumptions about you, the student: I'm assuming that you will have consistent and dependable internet access. I'm assuming that you have time to dedicate to this project consistently. I'm assuming that you have some money. I'm assuming that you can read, write, and navigate websites and programs in English. I'm assuming that you have energy and can invest a significant amount of it into creating passive income.
Expectations:
Yes! I expect things of you during this course, as you should expect much from yourself:
Patience → The road to success is long. Those who are impatient and who want to see results immediately may not be ready to take this path. Consider recent criticism of millennials for not wanting to "pay their dues" in an entry-level job and jumping from position to position instead of growing and learning. In a 2012 study, Fuller Theological Seminary professor Sarah A. Schnitker examined whether patience helps students get things done. In five surveys over a semester, patients of all stripes said they worked harder than others to achieve their goals. Those with personal patience made more progress toward their goals and were happier when they reached them (especially when those goals were challenging) compared to less impatient people. According to Schnitker's analysis, higher satisfaction with achieving their goals explains why these patients were satisfied with their lives overall.
Passion → Passion is essential in life because, without passion, everything seems dull and monotonous. People strive for adventure in their lives, the experience of newness, and the adventure of creativity. It is our passion that fulfills both. A 2012 study narrates the role of passion for activities in sustainable psychological well-being. In particular, passion contributes to sustained psychological well-being while preventing the experience of negative affect, psychological conflict, and ill-being.
Persistence → The importance of perseverance in life cannot be overstated. Developing passive income streams requires a person to maintain a positiv