Passive Income Ideas (Tarik Qazi)

 

           Hi guys. Let’s talk about one of the most popular topics Online. Making passive income online gurus are always talking about the laptop Lifestyle. Honestly, they look like they're living the dream and they could do whatever they want and they can live wherever they like, but also don't have to answer to any bosses. And it's all because of this magical thing called passive income. And they'll happily teach you all about it. And their online course for only $2,909, most of them are just trying to sell as many courses as possible. So they don't tell you the truth about passive income. So  that's exactly what I'm going to do. I'll teach you the bad as well as the good and all the things you should be looking out for. And I'm not going to try and sell you. And I think at the end, so you can just sit back and relax first guys, it's really important that you understand the truth.

                If you ever want that laptop lifestyle of sitting back on the beach, drinking cocktails of watching the money, just flowing. The first truth is passive income is definitely not a get rich quick scheme. One of my favorite You Tubers, Mr. Boss spent years making YouTube videos without anyone actually watching them. He actually almost quit a thousand percent. Describe it. I actually quit YouTube. Like I've been doing it for about two years. Um, I had about a thousand, but he decided to keep going. And this is important when you're trying to do anything in life. Now, whenever I'm thinking about giving up, I like to think to myself that if this was easy, everyone would be doing it. So just knuckle down and work hard at it. Someone that doesn't understand passive income will always say that in the beginning, Mr. Park, which is wasting his time. However, all it took was just one viral video. And his YouTube channel exploded in popularity and people went back and they watched all his old content. Now he's spending millions of dollars on videos. He's given away huge amounts of money. He's bought his own private Island about that. And he wouldn't be worried without all the hard work and perseverance. It's like a snowball effect. It keeps growing and growing and growing. Many people go into it with completely the wrong mindset.

               It's probably a lot to do with the word passive as it does kind of sound a bit like, yeah, I do any work, and setting up any passive income will require large amounts of time or money investment upfront. And this might not pay off for years down the line. The magic of passive income is huge delight compensation. So the real difference between a job and a passive income is that instead of getting paid for your time, you're getting paid for the value that you provide. The internet has made this really all possible as you're able to help lots and lots of people all with the same information over and over again. But going into this with a more long-term attitude, you will have a much better chance of success. You'll be doing the research. You'll be doing all the planning, learning all the skills that you need. No, I was looking to create another passive income source in my business. E-bay seemed like the perfect way to do it. Now it generates over $50,000 a month, but it wasn't always that way. The initial time of money and investment was huge. I had to find and buy the products. Then I had to learn how the buyout work and research the competition, not to mention hiring more staff, to help me package all the products all in all. It probably took me about a year to become profitable. But once I did, it was definitely worthwhile products that were listed years ago. I still sell in. Now it may look easy and quick from the outside, but behind the scenes is where the real work happens.

         You don't see all the late nights sacrifice his struggles, criticism, self-doubts, and the risks that are taken. The second truth is passive income. Isn't permanent. You see a lot of people. They do all the hard work and they build up a great passive income source, and then they never spend any time on it ever again. And they wonder why a few years later down the road are completely dried up. One of my friends was making millions selling books, Facebook ad for it, but the adverts got more and more and more expensive. Profits started to totally disappear.

Unfortunately it was too busy focusing on other things. And before he knew it,

His passive income of being white right out and was costing him more money to sell the books. Then he was making in the first place. This really isn't a set it and forget it method. If you don't keep feeding the fire with the wood, then eventually it's going to season and he's going to leave. You left out in the cold. YouTube viewers expect new content, real estate needs maintaining and the stock market can crash. An online course is, well, I expect support. Once you set up your passive income, you change from being a builder to a supervisor. Although this info it's a lot less work. It still requires some work. And also some of your time, something I'll have to look out for in my businesses. So the competition and I wouldn't be able to do that passively. They'll always be trying to catch me up. And if you decide to do nothing, then you're going to be overtaken and you're going to be left behind. So don't believe the gurus out there. Say you'll never have to work again. Nothing is permanent. However, with a few hours of work a week, you are able to maintain it for as long as possible. The third truth is school will never teach you passive income. Now, this one might sound a lot like a conspiracy theory, but hear me out. Our entire school system is focused on just one way of making money. The whole point of exams and college is to soak people into jobs. There are three different ways to make money. You've got linear income, otherwise known as a normal job. You've got leveraged income, which is when you own the business and who work for you. And finally, there's passive income where your time, all your money works for you without you having to be there all the time. Now, things are changing at such a fast pace and the schools car keep up with everything. Once those textbooks are printed, that information it's just out of date. Also, it doesn't want too many people becoming good with their money. As less people will waste their money on unnecessary items. And the whole system could just collapse overnight. In fact, there was never any mention of money related subject searches, invest in credit scores or wealth creation, which is a little bit crazy.

             There are too many people just draining the life out of the subject. The internet is really to become the best place to learn about personal finance and passive income. But that also comes with its own risks. Like the gurus I was talking about before you have to really do your backup grand checks on whoever is providing you with the information. A big thing I would check is how they make their income. Lots of people online actually make passive income by teaching you how to make it. That's a bit like saying to me; I'll teach you how to make $1. Just give me two. The fourth truth may surprise you a little because passive income probably won't make you happy. Just imagine you're making $20,000 a month in passive income and you only need to work a few hours a week, but what would you do? I made myself a promise when I was 16 years old, I would work as hard and as smart as I could over the next 10 years, over those years, I built up a lot of passive income sources. I invested in dividend stocks.

              I created digital products and I invested in rental property, but I didn't really think about what I was going to do next. My whole focus was on making sure my passive income every month was more than my expenses so that I could be financially free. When I finally achieved my goals, I felt lost and I was not really as happy as I expected to be. So I decided to go back to work. But the difference this time is no one could boss me around with their money. I could do whatever I wanted. As I already had the money I needed. I was nowhere near,

    As stressed and not worried about where the next paycheck was coming from. I also had a lot more time to; I spend with my family and friends and let's face it. That's what this is all about real happy. This comes from what you do with the freedom that your passive income gives you. The fifth truth is that passive income. Shouldn't be your only income source. One of the main benefits of passive income is that you can multiply your time and the amount you can earn. But as we talked about this before, isn't permanent. So if you're entirely dependent on the passive income, you are in a pretty tight interest situation.