I live by two sayings when it comes to making money
1- Money is simply an idea, those without money are just without ideas
2-If there is a will there will always be a way
Living by these words has greatly helped me in my investment career. All the planning in the world won’t prevent you from hitting a few hurdles in life. To get ahead in life you will need to overcome challenges.
If you’re still reading, then you are serious about building wealth. So let’s discuss the fun stuff.
Building passive income is fun and rewarding when you do it right. Doing this is not as difficult as you may think, it is pretty easy actually.
1) Research research research – Learn before you earn.
Many fail because they get into investing while having unrealistic expectations about making money. It is realistic to make a lot of money in investing but some initial effort will be required to get the ball rolling.
Taking on an investment strategy without proper knowledge on what to do is a surefire way to lose all your cash. SO DON’T DO IT.
2) When choosing an investment strategy, it should be based on more than just the promise of making a lot of money.
Look for money-making ideas that cater to your strengths and personality type. As an example if you are the reserved type you should avoid choosing sales type strategies. If you are an introvert, then those types of opportunities would NOT be great for you.
Another example, if you are a detail oriented person that likes to see data, then maybe there is an opportunity for you in stock options trading, or real estate investing.
Make a list of your strengths and weaknesses, then choose your money-making path wisely. I chose options trading and internet marketing based on what I knew I was good at.
3) Be Open to things that seem novel
There is nothing to it, but to do it. There are thousands, possibly millions of ways to build wealth with passive income or even active income. Don’t listen to the doubters and doubters. If you have a strong passion or desire to do something, find a way to make it happen.
I will bet my monthly earnings (a lot of money) that if you asked all the millionaires if someone at one time told them they would fail, ALL of them would say yes.