Passive Income-What is it and how do I get it?
Per wikipedia, passive income is:
“an income received on a regular basis, with little effort required to maintain it.”
I like Robert Kiyosaki’s definition in “The Business of the 21st Century”:
“income that continues coming in, over and over, long after you finished expending the effort and capital it took to create the source of income”.
Boy…sounds like something everyone should have, doesn’t it? It’s especially desirable when retirement seems like it’s getting further and further away, instead of closer and closer.
Well, that is a goal with certain businesses. You can not get passive income from a job or career. Once you stop working, you stop getting paid. If you were able to save some serious money during your working life, then you possibly have some passive income from investments or maybe rental property.
Rental property is a great way to generate income. But, what happens when you get a call at 1AM when a toilet starts to leak? Sure, you can pay a maintenance company, but there is still some work that needs to be done with rental property.
The kind of passive income that I am working towards is the kind that is made whether I’m working for it or not; whether I’m even thinking about it or not; heck, I want passive income to be generated when I’m sleeping!
The passive income I’m after is the kind that is generated from a true asset. The asset that I’m building is an internet business. I’m part of a thriving team where we support each other.
The business that I’m building allows me to leverage my time. So, my time will be freed up to do the things that I’m truly passionate about. It will allow me to spend time with my family and friends, travel the world and really do whatever I feel like doing–even if there are some days when I don’t feel like doing anything at all!
It allows me to leverage other people’s time. This is a great thing! A really GREAT thing! You see, as you help your business partners, you actually grow your own business. That is a WIN-WIN! The internet business that I’m building is one that I can be proud of; one that is built with integrity.
Use the “Work with Ann“ link to learn more about my business and how we generate passive income in our team!