Use your salary to invest in passive income so that passive income replaces your salary.
💰Let's discuss 7 ways to create passive income:
💰Let's discuss 7 ways to create passive income:
Invest in assets so that they replace your liabilities over time.
First, your passive income will cover your phone bill,
then it will cover your car payment,
then it will cover your mortgage,
then it will cover your salary.
First, your passive income will cover your phone bill,
then it will cover your car payment,
then it will cover your mortgage,
then it will cover your salary.
Passive income is the ability to earn money without having to actively work for it.
Nothing is truly 100% passive upfront, as everything requires some amount of effort to set up initially.
Use your time & money to create systems that require minimal intervention from you.
Nothing is truly 100% passive upfront, as everything requires some amount of effort to set up initially.
Use your time & money to create systems that require minimal intervention from you.
Active income is temporary but passive income is forever. Here are 7 common passive income streams:
• REITs
• Real Estate
• Renting Space
• Dividend Stocks
• Affiliate Marketing
• Covered Call Options
• Digital Products (Courses/ eBooks)
🧵Let's discuss each:
• REITs
• Real Estate
• Renting Space
• Dividend Stocks
• Affiliate Marketing
• Covered Call Options
• Digital Products (Courses/ eBooks)
🧵Let's discuss each:
1) Real Estate:
Buy real estate with a bank's money & have tenants pay it off
In 30 years, you'll have a paid-off property that has appreciated & is cash-flowing
Make rental income 100% passive by outsourcing the active parts of running it to a property management company
Buy real estate with a bank's money & have tenants pay it off
In 30 years, you'll have a paid-off property that has appreciated & is cash-flowing
Make rental income 100% passive by outsourcing the active parts of running it to a property management company
Leverage borrowing money from a bank to purchase a property, while tenants pay off the mortgage and you generate rental income
Over time, the property appreciates in value and the mortgage gets paid off, and it becomes 100% cash-flowing
$10,500 can control a $300,000 asset
Over time, the property appreciates in value and the mortgage gets paid off, and it becomes 100% cash-flowing
$10,500 can control a $300,000 asset
2) Covered Call Options:
You write (sell) a covered call option that earns a premium from the buyer of the option.
You can sell weekly calls against your shares and keep the premium.
You earn income from the premium paid by the buyer of the call option.
You write (sell) a covered call option that earns a premium from the buyer of the option.
You can sell weekly calls against your shares and keep the premium.
You earn income from the premium paid by the buyer of the call option.
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