How to Generate Permanent Passive Income Streams for Life
by: Eric Gelb
Last week, I traveled to beautiful San Diego for business and spent the day in a hotel restaurant that overlooked the harbor. With laptop in tow and cell phone in hand, I worked, without hassle.
As the sun set, I took a stroll and it occurred to me that technology and the crazy pace of our world has caused us to work 24/7. Life's way too short for that.
But, Passive Income holds the answer.
Passive Income means that you earn money while you enjoy the beach, golf or the mall.
Pursue these 5 Ways to Generate Passive Income:
1. Real Estate Investing
Acquire a building; then you can collect rent. Other than maintenance and managing tenants (and you can outsource these activities if you like), rent is pure passive income.
2. Sales - Good Old Fashion Selling
As a longtime sales professional, I like this flavor of passive income. Depending on the commission plan, you can establish an account, close sales now, and earn commissions for years to come. The key to earning passive income is the "tail." In other words, once you close an account, how long will the House pay you commissions?
3. Intellectual Property (copyrights and patents)
As a copywriter, I continuously create written materials. Once we publish a work we can earn profits for years. Consider my bestselling booklet '157 Ways to Cut Your Grocery Bill.' We launched the original edition in 2002, which generated an instant increase in sales and still rolls in today. Once you do the work up front, you can earn money for years.
4. Ezines and Electronic Newsletters
My company newsletter, Publishing Gold, includes some kind of promotion in almost every issue. Sometimes we include the promotion in the Editor's Note, and other times we include a Link at the bottom of an article. We also post our most popular articles on our Website and include the link to the sales page. These efforts generate effortless passive income.
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How to Generate Permanent Passive Income Streams for Life
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