Ronald Anderson - E-Commerce Business: 3 Books in 1: The Ultimate Guide to Make Money Online From Home and Reach Financial Freedom - Passive Income Ideas 2020, Dropshipping, Amazon FBA

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Passive Income Ideas 2020

The Best Strategies and Secrets to Make Money from Home and Reach Financial Freedom - Amazon FBA, Dropshipping, Affiliate Marketing, Kindle Publishing, Blogging and More

Copyright 2019 by Jim Cloud- All rights reserved.

The content contained within this book may not be reproduced, duplicated or transmitted without direct written permission from the author or the publisher.

Under no circumstances will any blame or legal responsibility be held against the publisher, or author, for any damages, reparation, or monetary loss due to the information contained within this book. Either directly or indirectly.

Legal Notice:

This book is copyright protected. This book is only for personal use. You cannot amend, distribute, sell, use, quote or paraphrase any part, or the content within this book, without the consent of the author or publisher.

Disclaimer Notice:

Please note the information contained within this document is for educational and entertainment purposes only. All effort has been executed to present accurate, up to date, and reliable, complete information. No warranties of any kind are declared or implied. Readers acknowledge that the author is not engaging in the rendering of legal, financial, medical or professional advice. The content within this book has been derived from various sources. Please consult a licensed professional before attempting any techniques outlined in this book.

By reading this document, the reader agrees that under no circumstances is the author responsible for any losses, direct or indirect, which are incurred as a result of the information contained within this document, including, but not limited to, errors, omissions, or inaccuracies.

Table of Contents

Introduction

M oney. We all need it to live in this modern day world. How much importance you attach to it is your own concern. However, it cant be denied that money can improve our quality of life and standard of living. Otherwise, why do we get up and go to work every day? For fun? Maybe. For the majority of us, work is a means to survival, and to a better life. It brings us the comfort of steady income. However, for most of us, a steady paying job is not enough for us to achieve our lifelong goals and live out our dreams. It may not even provide the financial stability that you need.

What are the solutions? Should we take on another job? Maybe you can. Maybe you have. Maybe your job is too straining, and the additional load will be too much. There may not be enough hours in the day for you to be in a position to do something like this.

This is where passive income can play an important role in your life. Irrespective of your circumstances, or your financial status, obtaining a passive income can drive you to greater heights financially, giving you more economic freedom and the platform with which you can achieve your goals.

What is Passive Income?

Currently, if youre employed, you are earning an active income. An active income is any income where you are required to have a direct and continuous involvement in the generation of income. If you dont go to work, you probably dont make any money for that day. That is the basis of active income.

Passive income, on the other hand, is the money that you can earn with minimal and indirect upkeep. With time, passive income can generate regular and sustainable income that will build over time. Besides, of course, the fact that you are bringing in more money, there are many benefits to acquiring a passive income (Wanderlust Worker, 2019).

For one, Im sure youll be aware that the increased income will give you a much more stress-free environment. You may find yourself deep in debt to pay your bills and fearing future outcomes. Here, you will find passive income will help to lessen your fears as you have will always have a backup solution; a viable option to fall back on should you find yourself in a crisis. Youll have more energy to invest in your days ahead, free from the what-ifs and thoughts of financial collapse.

With this, we can see another one of the many benefits of passive income: freedom. Given that you are not active in the work you are pursuing, this will give you something truly valuable in life, that many of us take for granted: time. You will have the time to do the things that you find enjoyable. If youre a parent, youll have more valuable time to spend with your kids, giving them the attention that you may not have been able to before.

Maybe, like me, you have a desire to see the world in all its beauty, and with a passive income, you have the benefit of being able to be anywhere in the world, and still have the ability to work on your income from there. In our day to day lives, we probably plan a holiday way in advance, and then have to wait several more years before we have the ability to plan the next one. With a reliable passive income, you can transcend these boundaries, and travel however much it suits you. Remember that word: freedom. Freedom to do the things we love, with the people we love, and engage in all of the enjoyment that life has to offer.

With that being said, if there are all these lovely benefits stuff centered around passive income, why have you not heard much about it? Well, the truth is, you probably have, but maybe you werent paying enough attention at the time. In the other sense, that it doesnt look to be popular, is that there appears to be several rather misguided theories to the idea of passive income. One of the most common of them is that you need money to start generating passive income. While some ideas may require an initial startup fee, many require little to no money; merely your initiative to work at it and be consistent.

The other theory I find bandied about is that you need to have a great business idea in order to start making extra income. Venturing into passive income does not require you to become an entrepreneur, but instead rely on tried and trusted ideas that have been used over and over again to build wealth. Some can be as boring as opening up a retirement or savings account that generates extra money over time. Boring, but certainly effective.

Once you do get started, it should be noted that this is NOT an overnight process. Youre not suddenly going to create a website or investment in stocks and see returns the next day. Although it was mentioned earlier that they require little to no upkeep, the process of starting up will require you to be consistent and dedicated in your approach to growing your income. Take the time to learn what about the industries you decide to involve yourself in, so that you may be prepared for any trials and challenges that lay ahead. Nothing in life is achieved without some degree of effort, and this is no different.

Within this book, you will find a few different ways to look into developing your passive income, the ins and outs of each type of income and how you could possibly go about getting started. From here, you will be able to achieve a rough guideline into what choices would be available and suitable to your situation, skills and even lifestyle.

Lets dive right in!

Chapter 1

The Right Mind for Your Business

S tarting up a business is by no means an easy feat. With that in mind, before we get started, its important to ensure that you have an idea of what and why it is you would like to start a business. First off, you need to enter the field with the right mindset. Arguably, the mindset is one of the most vital aspects in starting your business, and taking on the challenges that follow in time. So, within this chapter, we will look at the various aspects of being a business owner, and what you need to get started on the right track. In many ways, developing and maintaining a passive income is a form of business. You are creating an avenue for yourself to make money, relying solely on your planning, logic and self-discipline in order to continually build up your income.

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