Also known as passive income, this unique idea has been a secret of the wealthy throughout our great nation. It is my intent to break down the idea behind this concept, so that you can realize where you need to put your focus for development.
Passive income (PI) is not earned income. Earned income is anything that you get paid for your services rendered, for example a job. If you stop working, your income stops. The PI model is a bit different. Once established, you continue to get paid for something you did once and since you sold the service or the product, you continue to reap the residual commissions (or any other form of income) on a recurring basis.
Neat concept, but how do I do that?
Hold on a second. We are not done yet. Do you know that your Earned Income (from a job) is the highest taxed compared to any other Income: cashflow from real estate properties, dividend income from stocks, Income from businesses (small or large) that you own? Is it not ironic how we are all programmed to be in continuous quest of getting a high paid job, just so that we can start paying more taxes. Whatever you make right now, add $10,000,00 or even $20000.00 to it, and now calculate how much your net pay (take home pay) goes up by. Think about it!
I have worked for a company now for 10 years. 10 YEARS!!!! Great company, and I have pretty much moved higher within the company every 2 years. I have learned a lot. But if I stop working tomorrow, guess what my pay stops.
Now just for example, if I had spent the past 10 years building a network or sold a product/service that I only had to position once and I stopped working tomorrow. I would have continued to get a monthly residual income for the life of the customers/partners I brought in.
One such example is Insurance. Do you know that the individuals/companies, who we buy insurance from, receive a passive income for as long as we are a paid member of that insurance? NICE!
So how do you and I get a piece of PI?
Can we do this? The answer is yes. Although simple, it is not an easy journey, because it involves you changing your mindset and getting rid of you self-sabotaging beliefs FIRST.
What are those?
- I don’t know how to do it.
- I am ok with my work…I got pension.
- I am not in sales
- I cannot learn sales
- I hate insurance
- I do not have time
- I do not have money
Seriously, listen to yourself. You are ultimately saying that you are comfortable with where you are. You are saying that I do not have money and I am ok with it. I will continue my life as it is right now. I have no plans of changing because I have no time for it. Honestly, who has time nowadays?
No one!!!
But we all have to MAKE time for things that impact our life. You are sinking the business you call LIFE. As a CEO, you are not making it productive because you do not want to empower yourself and take action to change.
Can you tell me what I need to do?
I can guide you. I cannot tell you, because the decision is yours.
A lot of my friends ask me how much passive income you bring in. I can tell you, but what is that doing for you. Is that going to all of a sudden charge you up and get you to take every word I say to the “T”. If you are looking to be spoon fed, go to your parents. You NEED to Learn to EMPOWER yourself to take action and that can only come through a mindset paradigm shift. And guess what: it is quiet cheap to do that.
Here are some things that I have done in the past:
Real Estate Cashflow: $500.00/month
ATM Cashflow: $ 250.00/month
Affiliate Marketing Membership: 150.00/month
Current Project: Building a Network Marketing Business
And do not even try to pull in another excuse that it takes money to make money: I am a prime example of tuning into a mindset and constantly seeking realistic opportunities to invest and or acquire using relationships and Other People’s Money (Banks and investors). The house we live in we acquired it pretty much free and it shows 10% down in our mortgage. Yes it is a Legal house.
So here is what you should do:
- Take Action: (even small actions count)
- Read the books of Robert Kiyosaki especially Rich Dad Poor Dad.
- Read and listen to several mind conditioning audios and educate yourself on what you need to BE.
- Have one or 2 conversations with me. I will try to point you to some of the resources based on your unique DNA. (No I will not perform a DNA test on you)
- Build your financial statement (Numbers do not lie)
- Set a plan to accomplish small goals towards a 5 year goal. (I am still working on establishing this, but it is a lot easier to see what your options are, when you do step 5)
- Stay in touch with me.
I am personally looking for a team of individuals I can work with who are serious about changing their financial and Time future. I look forward to speaking with you if you would like evaluate options that are MUTUALLY agreeable.
How long do you plan to keep working? And then what? Build your pipeline starting today.
Your Partner in Success,
