How to Generate Permanent Passive Income Streams for Life
Author: Eric Gelb, MBA & CPA
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.
Even if you are not a writer, you can find freelance writers at reasonable rates; in fact that is one of the services our company offers. Writers can create content for you; or they can ghostwrite, which means you become the author. You can search for ""Freelance Writers"" and ""Ghostwriters"" online.
You can find articles (content) for reprint by doing a search for ""Article Directories,"" ""Ezine Content,"" ""Ezine Articles"" and ""Article Libraries."" Reprint content that will interest your audience. Be sure to get permission to reprint first, and print the author's byline exactly as required (you'll usually find the reprint requirements on the Websites).
5. Affiliate Programs on the Internet Today, you can create your own passive income stream by creating a Website and offering products for sale. You don't even have to create product; you can license or promote other manufacturers' or distributors' products. Become an ""Affiliate"" and then promote other companies' products on your Site. When your members, subscribers or associates make a purchase, the company pays you a commission. With ecommerce, it's easy and there's no labor involved. All the work is completely automated online through a shopping cart or affiliate program. And that's a beautiful thing.
Are you pressed for time? Short on funds and long on expenses? Looking to retire early with confidence?
Then Passive Income Holds the Answers for YOU.
Eric Gelb, MBA & CPA, is a marketing and copywriting expert and editor of http://www.PublishingGold.com . You can contact Eric directly at PublishingGold@yahoo.com . To learn more about How to Generate Passive Income, visit: http://www.profcs.com /app/?af=338759
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