There are a lot of misconceptions out there about what “passive income” is. Many people like the sound of earning money without having to get another job and unfortunately scam artists have picked up on that with the promise of “get rich quick” schemes.
This leads us to why beginnerspassiveincome.com was created:
- To provide a simple and informative guide to understanding what your passive income options are
- Why these passive income options may be desirable for you
- Exposing the hidden costs (and work) it takes to maintain passive income streams
While these topics may not be what you initially expected, we hope to provide you with an informative and transparent picture of what it means to have passive income streams.
Beginnerspassiveincome.com will break down what your options are and can generally help guide you as you decide which passive income stream you could focus on given your current circumstances. You don’t have to live with one stream forever, many people start with one and grow and diversify into others.
Notice our logo, plants within a barchart that gradually grow. If we sow seeds (money) in good soil (investments), eventually we will reap more than what we have sown (ideal lifestyle/income); provided we’ve adequately cared for the seeds (portfolio management).
You’ll notice the sections BUY, BORROW, and BUILD at the top of the page. Organizations are often assessing opportunities and how to take advantage of them.
Executives may say:
“In order to expand our empire, should we BUY an entity, should we BORROW a service, or should we BUILD it out ourselves?”
All these decisions have opportunity costs, time costs, and some type of monetary costs. You are a business! You might be currently generating income by renting out your time or expertise to entities (aka your day job) or perhaps you literally own your own business that generates income.
No matter how you currently make money, there is always an opportunity for you to expand your empire and diversify your income streams. We hope to help you on that journey!