Posts tagged as:

passive income

Path to financial freedom

Financial freedom seems like a dream from where most people stand. It can seem overwhelmingly distant to say the least. But, how far is it really? Would you believe it is simply a change in thought process that would allow someone to achieve it? Whatever the reason, very few people actually attempt to reach this amazing, yet achievable lifestyle. What is holding you back? Let’s break this process down into simple steps so you can get started now. One year from now, you’ll wish you started today! (Continue)

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Image of money growing from a tree

How in the world do some people get rich so fast?! Literally, people have gone from dirt poor to ultra rich in a matter of months! Aside from winning the lottery or inheriting a fortune from family, what allows a person to make this dramatic change? Well, I can’t speak from experience, but I do see one thing that is common in almost every case. A great business. (Continue)

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Who Wants To Retire Early?

by James on 03/15/2010

Image of early retirement

Everyone would like to retire at some point in their life and not have to adjust their lifestyle too drastically. And, for most people that means consistently putting away at least 10% of their earned income into retirement accounts their entire working career, while paying off their mortgage in hopes that they have enough money to retire at age 65. The question is, “Wouldn’t you like to retire earlier if you had enough money?” How much money would you need to have in order to retire at age 50… or how about age 40? (Continue)

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Image of iStockPhoto.com

Reaching our goal of 10K in passive income seems like a substantial amount to most people, including myself! In order to reach this high goal, we will need to get many passive streams of income. Not just one. We selected real estate as one source and our next is stock photography and graphics. This is actually my wife’s area of expertise. As we have discovered from the book, The Millionaire Maker by Loral Langemeier, getting wealthy is a team sport. (Continue)

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Image of highway sign with an exit to financial freedom

Almost every one of us has a salary. If you do, then congratulations because this really is an important step. Next is to live within your means. Most people tend to raise their standard of living each time they receive a pay raise. It is so easy to do. I am guilty of it. The key is to refrain from using up your entire paycheck each month on expenses. What we do with this extra cash each month is the key to achieving our dream. Invest it wisely. So, what do most people normally do with it and what should we do with extra cash to achieve financial freedom? (Continue)

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Image of a house with a for rent sign

As you know, I listed real estate as one of the passive income sources for achieving financial freedom. Real estate has been a sign of power for a thousands of years! But, what makes it so special for earning money today? Real estate is a limited resource. There is only a certain amount of it and if you purchase it for below market value and find a reliable tenant to pay the mortgage, it can almost certainly help you become wealthy. Let’s talk about what makes real estate such a unique investment! (Continue)

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Image of books on achieving financial freedom

So you thought once you graduated from college that you wouldn’t have to study anymore? Well, think again. Becoming successful and staying successful in whatever you do requires you to continuously educate yourself. Your competitors are doing it right now. How will you stay at the top of your industry if you aren’t utilizing the latest technologies and best practices for your field? If you want to enter an industry in which you have no experience, how do you expect to be successful without some knowledge? The simple fact is that if you are not educating yourself continuously, your chance of success or continued success is very low. (Continue)

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Image of many pots with grapefruit trees growing

Most of you already have earned income (salary or wage) and even some portfolio income (stocks, mutual funds, etc). What an accomplishment! Whew! As great an achievement as this is, it probably won’t get you financial freedom anytime soon. You need to add a different type of income stream to your bottom line. This is called passive income. In this article, we’ll talk about what passive income is, what some examples are and how it will help us achieve financial freedom! (Continue)

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Achieving financial freedom is like a beautiful sunset

How does having a billion dollars sound to you? This amount of money would most certainly give anyone financial freedom! Imagine the mansions, the yachts, the exotic cars, clothing, jewelry and vacations all at your finger tips! Well, you and I will probably never have that much. So, just forget about it… okay, so I’m being a little harsh. But, I’m here to tell you that you don’t need to have millions of dollars or even a billion dollars to be financially free. How in the world can we accomplish this?! (Continue)

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