How to Generate Permanent Passive Income Streams for Life
by Eric Gelb
Published on this site: January 31st, 2006 - See
more articles from this month
Last week, I traveled to beautiful San Diego for business
and spent the day in a hotel restaurant that overlooked the
harbor. With laptop in tow and cell phone in hand, I worked,
without hassle.
As the sun set, I took a stroll and it occurred to me that
technology and the crazy pace of our world has caused us to
work 24/7. Life's way too short for that.
But, Passive Income holds the answer.
Passive Income means that you earn money while you enjoy
the beach, golf or the mall.
Pursue these 5 Ways to Generate Passive Income:
- Real Estate Investing
Acquire a building; then you can collect rent. Other than
maintenance and managing tenants (and you can outsource
these activities if you like), rent is pure passive income.
- Sales – Good Old Fashion Selling
As a longtime sales professional, I like this flavor of
passive income. Depending on the commission plan, you can
establish an account, close sales now, and earn commissions
for years to come. The key to earning passive income is
the "tail." In other words, once you close an
account, how long will the House pay you commissions?
- Intellectual Property (copyrights and patents)
As a copywriter, I continuously create written materials.
Once we publish a work we can earn profits for years. Consider
my bestselling booklet '157 Ways to Cut Your Grocery Bill.'
We launched the original edition in 2002, which generated
an instant increase in sales and still rolls in today. Once
you do the work up front, you can earn money for years.
- Ezines and Electronic Newsletters
My company newsletter, Publishing Gold, includes some kind
of promotion in almost every issue. Sometimes we include
the promotion in the Editor's Note, and other times we include
a Link at the bottom of an article. We also post our most
popular articles on our Website and include the link to
the sales page. These efforts generate effortless passive
income.
Even if you are not a writer, you can find freelance writers
at reasonable rates; in fact that is one of the services
our company offers. Writers can create content for you;
or they can ghostwrite, which means you become the author.
You can search for "Freelance Writers" and "Ghostwriters"
online.
You can find articles (content) for reprint by doing a search
or "Article Directories," "Ezine Content,"
"Ezine Articles" and "Article Libraries."
Reprint content that will interest your audience. Be sure
to get permission to reprint first, and print the author's
byline exactly as required (you'll usually find the reprint
requirements on the Websites).
- Affiliate Programs on the Internet
Today, you can create your own passive income stream by
creating a Website and offering products for sale. You don't
even have to create product; you can license or promote
other manufacturers' or distributors' products. Become an
"Affiliate" and then promote other companies'
products on your Site. When your members, subscribers or
associates make a purchase, the company pays you a commission.
With ecommerce, it's easy and there's no labor involved.
All the work is completely automated online through a shopping
cart or affiliate program. And that's a beautiful thing.
Are you pressed for time?
Short on funds and long on expenses?
Looking to retire early with confidence?
Then Passive Income Holds the Answers for you.
Eric Gelb, MBA & CPA, is a marketing and copywriting
expert and editor of http://www.PublishingGold.com
. You can contact Eric directly at [email protected]
. To learn more about How to Generate Passive Income, visit:
http://www.profcs.com/app/?af=338759
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