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
These two phrases greatly helped 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 a few challenges on the way.
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. There are methods to the madness so to speak, but luckily they are straightforward.
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.
It is best to pick an investment based on what you like to do. For example if you are shy, avoid strategies that require you to make face to face contact. If you are the conservative type then strategies that require you to be outgoing are not for you.
Put another way if you like details and numbers, then you may have a promising future in the stock market or even certain types of real estate.
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 unique possibilities
At the end of the day, the only thing stopping you is you. There are an unbelievable amount of ways to make a secondary income. Once you find that strategy that works for you, push forward and don’t let the doubters get to you. If you have a strong passion or desire to do something, find a way to make it happen.
I guarantee you that if you ask all the millionaires if someone ever doubted them, they would all say yes.