I have been writing religiously about passive income (600+ articles) for a little over a year now. However, I don’t think I have written an article addressing passive income from the top down. Today is that day. I will attempt to cover all aspects of passive income the best way I can.
What is passive income? In my own words, passive income is money that you do not exchange time for to obtain. Passive income also does not come from an employer—that is, “earned income.”
The truth about passive income. Passive income is tricky because it usually takes a huge amount of work and knowledge to build a passive income stream. No one pays you for time spent building a passive income stream. You base your estimates on future revenue.
Many people get confused with passive income because they believe they can simply build an income stream and get paid for the rest of their lives without much effort. All passive income streams require some kind of upkeep. I’ll get into that later.
Education. Besides income from working a job (pension, social security, 401K), all passive income requires self-education to build and maintain your income successfully. You can’t just walk into a realtor’s office, buy a house, and start renting it and think you will be successful.
I have been writing articles in all aspects of passive income for the last year. I will not stop writing because what is a better topic to cover besides money? I do cover relationships because that is the number one reason to lose money—bad relationships.
Types of passive income. Now to the fun part. I like to break passive income into five categories; you can separate yours however you deem necessary. My five pillars of passive income are retirement income, investing, real estate, business, and cryptocurrencies.
I believe everyone should dabble in all five pillars of passive income for the sake of diversity. It is also important to remember; I include a “financial mindset” pillar of passive income. You can’t go far without the proper mindset.
I will now refer you to multiple books and articles I have written over the last year, covering each of the six pillars. I will only include free PDFs that I released recently. My other 180 books are locked behind Amazon exclusivity. I believe all my books should be free for everyone. However, I do want to grow my audience of readers from Amazon. Let’s go!
Financial Mindset. A mind is a terrible thing to waste, especially when it could be making you a ton of money! We all have some form of limiting beliefs to overcome. Limiting beliefs about money can come from childhood, and we need to break them if we want to be rich.
What Limiting Beliefs Do You Have About Money? (Article)(Free PDF).
Retirement Income. Most of us know the significant forms of retirement income: social security, pensions, annuities, 401Ks, and Roth IRAs. However, putting everything together into a cohesive retirement plan can be an issue. Even if we are born average, we can retire above average.
Retirement Planning for the Average Person (Article)(PDF)
Retirement Planning for the Average Person 2 (Article)(Free PDF)
Investing. Out of all the sources of passive income, dividends get the most coverage and love. Why? Because dividends (or portfolio income) are the most passive of all passive incomes. However, you will need to know where to place your money if you want to fire and forget. Dividend ETFs may be a safe place to invest your money while earning dividends.
The Pros and Cons of Dividend ETFs (Article)(PDF)
Real Estate. Real Estate is the best wealth generator for the average person. Using leverage, a standard person can get extraordinary returns. However, you have to know how to invest in real estate. Real Estate is a mindset first, then a business.
Real Estate is a Mindset (Intermediate)- (Article)(PDF)
Real Estate is a Mindset (Advanced)- (Article)(PDF)
Business. Don’t be afraid to start a business; it can be life-changing. When we think of business, we think of management, supply, and meetings. However, we can make our companies as small as we want.
There are two types of business income; royalties and automated business. Luckily, I have a massive book that covers both types of business in-depth. The book is 182 pages, so have fun!
Retire Rich, Retire Comfortable with a Business 2 (Article)(PDF)
Cryptocurrencies. Most people are new to the world of cryptocurrencies, as am I. So let’s learn together. There are many sources of passive income coming from crypto; you just need to know where to look. When you find what you are looking for, crypto can be magical.
The Magic of Cryptocurrencies (Article)(PDF)
Don’t Gamble with Retirement. A giant book that I can giveaway is “Don’t Gamble with Retirement 4.” My DGWR series usually releases every 2-3 months. This book, in particular, has 100 chapters of passive income goodness.
Don’t Gamble Your Retirement Away 4 (Article)(PDF)
The Big Book on Passive Income. I wrote a massive book on Passive Income titled “The Biggest Book on Passive Income Ever!” It is 312 chapters and 1,200 pages long. However, it is locked away behind Amazon. You can take a look at the web edition for free, however.
The Biggest Book on Passive Income Ever- Web Edition (Article)
Conclusion. Outside of loving someone and being loved, creating passive income is the best feeling out there. Waking up to fresh money is the sort of life that rich people live. You can live that life as well.
Whether you build a $50/month income stream or a $5,000/month stream, cash is cash. Not many people can say they created an income stream from nothing. You can be one of the few, the proud, the rich—time to get started.
- Build Passive Income: 21 Passive Income Ideas (book)
- Free PDF Downloads: Download FREE PDF books here
- Financial Mindset: Become CEO of Yourself (book)
- Retirement Planning: Don’t Gamble with Retirement 4 (Free PDF)
- Investing: The Pros and Cons of Dividend ETFs (Free PDF)
- Cryptocurrencies: The Magic of Cryptocurrencies (Free PDF)
- Real Estate: Real Estate is a Mindset (Intermediate) (Free PDF)
- Business: Retire Rich, Retire Comfortable with a Business 2 (Free PDF)
- Everything!: The Biggest Book on Passive Income Ever! (book)(Web Edition)(Art Edition)
- I bought a Kindle Oasis: Check it out Amazon
- Read My Books for Free: Free Kindle Books Schedule
- Sign up to Access our “Hidden” Free Kindle Book Schedule
- My first Children’s book: A Child’s First Book on Passive Income (book)
- Book Reviews: 54 Takeaways from 54 Books (book)
- Want to Build Passive Income from Books and Affiliate Marketing? (Learn here)
- Writing: Can Grammarly Make You a Better Writer? (direct)
- My Favorite Chromebook: The Ultimate Chromebook (direct)
- Follow us: On our Facebook Page and Join our Facebook Group
- Amazon Author Page: Check out my author page on Amazon
- Monthly Dividend Planner: Check it out on Etsy
Disclosure: I am not a financial advisor or money manager, and any knowledge is given as guidance and not direct actionable investment advice. I am an Amazon Affiliate. Please research any investment vehicles that are being considered. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article. All Right Reserved Military Family Investing
Leave a Reply