general
I think in my current situation of striving to financial freedom I need to identify the possible passive income sources and to work towards them. They are the following: 1. Adsense advertising revenue: While this is not as it would be at the current moment, it is a good almost passive source of income, because sites do need work and subsequently this source of income is related to the amount of work you put into. 2. Stock market income/dividends: Given the current situation, an investment in the current market is a risk and noone knows if it's a win or a loss, but I believe that in the longer term it is a good source of income especially with the companies that offer you dividends. 3. Creating a business: This is not passive at all, I know. At least it's not passive at the beginning, but if you play your cards right and you manage your business right, in the long term this is the best source of passive income there could be because you're very likely to succeed no matter what you do and you're very likely to get employees that will work for you. 4. Real estate: I'm quite interested in this subject even though I am not able to buy real estate at the moment but I'm sure in the future I will so I already started my education in this field. 5. MLM networking: This seems to be quite a big business and good passive income but it requires more energy and time that is advertised. Basically once you get into a MLM scheme, if you wanna do it right and be sure you get real passive income and your structure will evolve without you in the future, you need to invest alot of your time and possibly quite alot of the income you get from the MLM business keeping in touch with the people you get into the business. It is a rewarding business but as a normal business, it's not passive at the beginning, and possibly not passive later due to the amount of work you will be requested to do to train your people and hold seminars and motivate people.
These are my five top passive income sources at the moment, maybe in the future things will change and will reorder themselves, who knows :)
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Over at FMF there is an interesting article about what we should learn our kids about money and finances and I must say this is a very good topic to think of. Our kids need to understand how the money works, and why does money exist and how to use it. Most importantly is to teach our kids how not to fall in the traps that money is associated with and those are greed, debt, crime, and others. The main and best idea which says much about money is the following one: Thanks FMF! You can find the article here: |
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This is the beginning of this great to be blog about all finance related information. Basically I'll try to constrain myself to finance only but every now and then you'll probably see other articles that have no relation whatsoever with the aforementioned subject. Now that I tested my english language level with the above phrase against the built-in Firefox checker, I feel satisfied and I close this marvelous entry :D |
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