Spotting The Perfect Passive Income Opportunity
The passive income opportunity, holy grail of all personal financedom, is an elusive beast. Long known to entrepreneurs everybody but just now becoming popular with the wider public compliments of Robert Kiyosaki (of Rich Dad, Poor Dad
That said, I have had some success in the passive income arena. There is one passive income opportunity in particular I can recommend, and another semi-passive opportunity I endorse if you’re willing to put in the upfront effort. I’m not saying there aren’t other legitimate sources of passive or semi-passive income out there, but if there are I’m not aware of them or at least haven’t tried them out. Feel free to leave suggestions in the comments!
The Ideal Passive Income Opportunity
The ideal source of passive income, of course, is portfolio income. As you may recall, dividends from mutual funds occupy the top 3 levels of the 8 levels of passive income, meaning they are very easy, effort-free income sources. All you have to do is pick a fund (equity income funds are especially attractive for this) and write a check. The downside, of course, is that you have to save up a substantial sum of money in order to realize a significant income using this method.
Still, for those of you with a lot of idle capital, switching to an income-oriented portfolio may be the beginnings of your path to financial freedom. To be honest, this is probably the only truly passive income opportunity I’m aware of. All the others require at least a little effort.
Semi Passive Income Opportunities
The best semi-passive income opportunity I’m aware of to generate passive income online is to create niche mini sites. If you do it yourself, these sites take anywhere from 10 to 30 hours of work (or as little as an hour if you outsource everything) and can be expected to reliably generate around $100 a piece on average once you’ve got the hang of it. Obviously, some niche sites have much greater profit potential than others, but in my experience your winners and losers will tend to average out to around $100 per month in the long run.
The beauty of niche sites is that once you’ve set them up, they can generate income for years to come with virtually no work required on your part. There is one caveat to this, however: you’ve got to build your sites around evergreen content. That is, your sites should be about topics that will always be relevant. For example, teenagers will be getting acne and searching for ways to clear it up until the end of time. The cash for clunkers program, on the other hand, lasted just a few short months. Which do you think will prove more profitable 5 years from now?
If you work diligently, you can easily build two or three niche sites per month so that in a year’s time, you’ll be generating anywhere from $2000-4000 per month in internet income without any additional work on your part. Of course, there is a learning curve and you likely won’t do anywhere near that well your first year, but I’d be willing to bet you could do even better your second if you stick with it.
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This is the most important thing a beginer in business needs to know. Thanks for revealing the truth.
When people engage themselves to passive income and nothing happens after several months, what do they do? They quit!
They need to realize that this is a business and not a magic trick. You still need to invest time, energy and patients. And if that isn’t enough, you need to have initial failures.
Just like the other successful entrepreneurs you know about. When they accept that and go continue for a year and even more, you’ll end up wealthy!
Thanks for sharing this…