When you think "passive income," most people think stock investing, real estate investing, book royalties or savings accounts. Those are all good, but only represent a handful of the potential passive income streams that are available to you.
This book is intended to get your creative juices flowing, give you ideas, tools and resources so that you can increase your passive income up to the point where you're financially free. There's an old silly saying, "The one who dies with the most toys - wins!" We'd like to replace that commonplace saying with one that makes a lot more sense. There are dozens of techniques and literally thousands of ways to add to your bottom line...
It's not the 'one with the most toys,' the one that really wins is "The one that gets financially free first!"
The stock market provides a way to invest in companies who have taken their ownership public. Private Equity Investing is investing in companies who have not "IPO-ed" or "gone public' yet.
This is the kind of investment that is at the highest risk to you, but they are also the ones with fantastic possible returns. So, if you decide to do this - you must do your research and decide if something this risky is for you. For most people, it is not. For most people, they don't even qualify to be able to invest in this type of venture - because they are not 'accredited investors.'* If you are not an accredited investor, you have to have a pre-existing relationship with the owners of the company that is raising capital.
Every now and again, an amazing offer comes through and the people who had the vision got very wealthy. Of course, the converse is also true - and the investor lost everything. Again, that is the nature of this beast. It's all about risk, reward and return.
These ventures exist everywhere and are not always limited to the millionaires of the world. If you do end up with enough passive income just sitting in a bank and would like to play with a part of it in a high risk, high return venture, keep your eyes open for Private Equity Investments. These can not be advertised in the paper, so you need to know what kind of networking groups and training organizations exist to service these start-ups. If you get around these groups, the opportunities will literally fall at your feet. Again, however, this isn't something you bet the farm on - only a comfortable amount of the passive income you have coming in after your expenses. This has to be patient money, because it can sometimes take years to pay off.
The biggest part of this avenue of creating passive income - is that you must do your research, you must do your due diligence because the investment type is so high risk!
We recently invested in a small start up company (with amazing potential) and since it is an LLC (Limited Liability Corporation), we own membership units, not "stock." It has not paid us back for our investment in dividends yet, but we have been able to capitalize on our association with the company and made passive income on its products in other ways. So, by the time the dividend checks do roll around, we'll have two sources of passive income from this company. Then when they ultimately sell, we'll have a great windfall check that will find a home where it can create more wonderful passive income for us.
* Accredited Investor - the basic definition varies from state to state, but the general definition is: a person who has at least a million dollars in net worth - without including their primary residence.
The stock market provides a way to invest in companies who have taken their ownership public. Private Equity Investing is investing in companies who have not "IPO-ed" or "gone public' yet.
This is the kind of investment that is at the highest risk to you, but they are also the ones with fantastic possible returns. So, if you decide to do this - you must do your research and decide if something this risky is for you. For most people, it is not. For most people, they don't even qualify to be able to invest in this type of venture - because they are not 'accredited investors.'* If you are not an accredited investor, you have to have a pre-existing relationship with the owners of the company that is raising capital.
Every now and again, an amazing offer comes through and the people who had the vision got very wealthy. Of course, the converse is also true - and the investor lost everything. Again, that is the nature of this beast. It's all about risk, reward and return.
These ventures exist everywhere and are not always limited to the millionaires of the world. If you do end up with enough passive income just sitting in a bank and would like to play with a part of it in a high risk, high return venture, keep your eyes open for Private Equity Investments. These can not be advertised in the paper, so you need to know what kind of networking groups and training organizations exist to service these start-ups. If you get around these groups, the opportunities will literally fall at your feet. Again, however, this isn't something you bet the farm on - only a comfortable amount of the passive income you have coming in after your expenses. This has to be patient money, because it can sometimes take years to pay off.
The biggest part of this avenue of creating passive income - is that you must do your research, you must do your due diligence because the investment type is so high risk!
We recently invested in a small start up company (with amazing potential) and since it is an LLC (Limited Liability Corporation), we own membership units, not "stock." It has not paid us back for our investment in dividends yet, but we have been able to capitalize on our association with the company and made passive income on its products in other ways. So, by the time the dividend checks do roll around, we'll have two sources of passive income from this company. Then when they ultimately sell, we'll have a great windfall check that will find a home where it can create more wonderful passive income for us.
* Accredited Investor - the basic definition varies from state to state, but the general definition is: a person who has at least a million dollars in net worth - without including their primary residence.