It is that stage of life where you are no more dependent on your job to manage your needs of life. So what we can do? Start with this – “ seek deeper understanding of the concept of financial independence“. Hence it means, 99% people will not be able to answer these question. If I will have to guess, I will say that less than 1% people in this world are financially independent. Why? Because only financially independent people can answer these question.
#Easy passive income how to
Start by asking this question to yourself, “ what is the alternative to my salary income“? What happens if I loose my job? How to run the family? Money will come from where? I feel, people must go deeper into the concept of passive income. What you have seen above are 6 forms of passive income and their potential sources.īut knowing only this is not enough. Read more about how to do stocks analysis. What do you think, how many people will subscribe to this service? Tens and thousands if not less. Suppose he starts a paid subscription service, wherein he will publish names of couple of stock each month for investing. Example: Rakesh Jhunjhunwala is an expert of stock market. People can subscribe for your services/advice by making payment. Paid Subscription: Become an expert on a topic, and start a paid subscription service.What is an online real estate property? Example: Website or a blog. This property can then earn ‘advertisement’ income (like rent). Online Income: One straight way of online income generation is by building an “online real estate property”.
Upon sale of every ebook the writer gets paid the royalty. If you have a concept on which you can write about 10,000 words, I strongly suggest you to put those words in form of an ebook. But in this internet age, online publishing has made it easy. Earlier, writing and publishing a book used to be a big task. Royalty Income: People write ebooks and publish it on Amazon.Read more about how to value a fixed deposits. While buying FD, ask the bank to pay the interest monthly. This can be an excellent source of passive income. Bank deposits can be bought from the comfort of home. Interest Income: If one cannot think of anything, bank deposits can generate passive income instantly.Read more about dividend income from stocks and mutual funds. Stocks must be bought at undervalued price levels. The key control point is the price of purchase. But identifying a good dividend stock is slightly tougher. Dividend Income: Dividend income can be generated from stocks.Read more about property investment for beginners. By putting this property on rent, passive income can be earned each month. Depending on ones affordability, one can buy any size of property. One can buy two types of property: residential Property and commercial Property. But problem is, property purchase requires high capital investment. It can be generated from property purchase. Rental Income: This is the best form of passive income.Though the initial yield will be low, but it will eventually increase with time. Investing in these assets will start a stream of passive income. List of 6 Passive Income Ideas for IndiansĮach idea suggested in this article will guide you towards an asset. Yes, “no work income” is what gives the passive income an exponential growth capability. Why I say really rich? Because to generate passive income, one need not work. It is the passive income that makes a person “really rich”.
The are financially independent.Įven if they stop doing work, their passive income will take care of all needs of life. Rich people may also work for money, but they have almost zero dependency on their income from job/work. Rich people are ones whose passive income is high.
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