How to Create a Passive Income Monthly Plan
Updated: Aug 28, 2019
If you are willing to put in some effort and have a decent amount of self-discipline, you are going to find it is possible to learn to make $10,000 in passive income or more. There is no ceiling to your income level when you follow the Passive Income Monthly Plan. You just have to know the steps to take and then act upon them.
Once you do this, you will find that you are going to enjoy the freedom that you never knew before you gained financial independence. Anyone interested in earning $10,000 per month can do it on the internet and with prudent investments for income.
One of the first mistakes people make as they start this journey is they expect instant results. If you have ever submitted some articles on paying web portal you already know this theory. It is going to take some time to get the ball rolling and patience as your income grows.
When you are targeting earning $10,000, you need to think about doing several different things. This is the classic case of not putting all your eggs in one basket. You can use something like content writing as a source of income but you can accelerate your journey if you add other sources of income. You may want to include affiliate marketing, real estate investing and other passive income sources.
Passive income is money that you receive over and over again without having to do much work (not any work). It is different from earned income in that you are not receiving money for you time like you would for a job.
Why would you want passive income? Well this is one difference between the rich and middle class. The rich invest their money in various passive income streams. When your passive income exceeds your living expenses, then you are financially independent. This simply means you do not have to have a day job to pay the bills. And you are free to use your time as you want!
Now, financial independence is what we all strive to achieve. It is not easy but I will teach you how to get there using the Passive Income Monthly Plan. How you say?
The Monthly Plan starts with focusing on the end result – having multiple income streams to generate income each month. It is these income streams that achieve the goal of receiving money over and over again. What would you say if I gave you a list of 400 investments that pay you a check each month like clockwork. You can earn 15-20% dividend yields per year in many of these investments. This will be discussed in more detail in subsequent posts.
Now that we know the end game is using our money to make more money. The other stage is focusing on creating the income today to feed the long-term investments for a lifetime of income. Yes, your article writing, blogging, online surveys, drop shipping stores, affiliate marketing, retail arbitrage and other activities you will learn about will create multiple streams of income.
Stage 1 – create multiple streams of income with requires work to get started but will grow and can be leveraged over time
Stage 2 – invest this income into passive income investments that pay monthly for the rest of your lifetime.
Stage 3 – live the dream of achieving financial independence as your monthly income exceeds your living expenses
Stage 4 – create a legacy that can be passed on to your children and loved ones from the passive income streams you will create in Stage 2
If you currently earn residual and earned income, there is a way to turn this into passive income. So stay tuned. Passive income is a lot of things. The first thing that come to mind is real estate. You hear stories of families holding their wealth in vacation homes, multifamily apartments, single- family homes, and other RE investments. You set it up once with a property manager and the money comes in month after month. Other investments include self-storage, parking garages and dry cleaners to name a few.
Income from savings accounts, CD, bonds are all passive income. You will not get rich by making 2% interest so there is a better way that I show you. A website with Google Adsense can be passive income. If you invest in any business you don’t manage, this is passive income. According to the IRS, any salary you get from a business is considered earned income but all profits are passive income.
To get the income for Stage 2, it is prudent to establish an alternative source of revenue that takes care of itself and is a reliable passive income source. The most affordable income streams can be created online.
Once you start to create some income, then you can leverage it into more opportunities to compound your earnings. We all have heard about compound interest (and it works great with monthly dividends) as a wonder of the world (more about this in future posts).
Passive income is a method of earning extra money. Generally, this method is used online when an individual creates a product or service one time but that item goes on earning income for the individual over the long term.
When it comes to making money, passive income is a great thing. This means you will be receiving paychecks even when you are not working. The internet is the place for opportunities under the banner of earning money. Consider the benefits that come through when you work within an internet solution that provides you a passive, residual income.
As outlined in the four stages of the Monthly Plan, you will leverage this into financial independence and a legacy to pass on in the future.
Sleep and Make Money is not out of reach. I will show you how to get paychecks while you’re not doing anything. Imagine sitting poolside or on the beach in your favorite destination and getting paid for doing nothing but enjoying your life!
With the Monthly Plan, there is an unlimited income available. You don’t need to worry about the rising cost of livings as your monthly income will grow over time. You remove the limits by having a passive solution to your income and reinvesting a portion of income to grow larger over time.
You will learn more about the system to implement the Passive Income Monthly Plan. No, there is nothing to buy like the dream gurus selling programs. Together, we will all move forward on our journey to financial independence.
Thanks for coming along!
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