Ah.. Passive income.. the holy grail of investing. This may surprise you, but most retail investors in Asia are not really interested in amassing huge amounts of wealth, but are more cashflow focused.
This means they invest for the sake of producing cash returns to feed their families. With passive income comes financial freedom, as well as the ability to make choices on how you want to spend your time unchained to money. Most people will scoff at this, thinking it to be a far-fetched wild dream that cannot be attained.
First up, it’s definitely possible because it has happened many times over. You just need to get started on your way there with the right tools.
Here are some tips to how to get passive income up FAST
1. Learn to invest properly
By investing, it does not mean pouring your hard earned money into scams like Ponzi schemes or weird alternative investments that no-one has any inkling about. Learn to invest properly into legitimate instruments like bonds, shares and property. A sound advice is, take things into your own hands and manage your own portfolio, because there’s no-one who will make better decisions for yourself, than you.
Real investment profits can be made if you invest with the right knowledge
. Most of the horror stories you hear are usually from over-greedy people armed with a lack of knowledge and skills.
2. Learn to save up
While there are some who have high paying jobs, there is still the possibility that they are bankrupt because of credit card debts. The reason for this is because their expenses is exceeding their income. For example, even if you have a job that pays you 30,000 dollar a month, you are still a pauper if you spend 31,000 dollars a month.
In short, learn to save, track your expenses and dedicated at least 30% of your salary to saving up and investing.
3. Find ways to generate even more income
There are lots of naysayers out there saying that there is no way to earn more money, that it’s difficult and almost impossible. The fact is, it’s never been easier to create more streams of income in this day and age of the internet! Find a part time job… set up an online business.. become an Amazon retailer.. offer your services on Fiverr.. the sky is the limited in our connected world. There are tons of work-from-home opportunities you can enjoy.
With multiple streams of income, pump the extra cash you generate into building a portfolio and multiplying it.
Here at Value Investing College, we promulgate the 3G concept (Generate cash, Govern expenses and Grow your money!)…
If you would like to find out more on how you can GROW that piggy bank into a cash-horde, join us at this legendary investing masterclass that has changed so many lives: