How To Make Passive Earnings Online

Do you think that riches would make you happy? If somebody gave you a large sum of money, would you not be pleased? Probably you would. Likely you could think of ways to spend it.

ADMITTEDLY, there are plenty of things to buy to make life more comfortable and enjoyable. Money can also serve “for a protection” against unexpected problems, such as disease or unemployment.—Ecclesiastes 7:12.

But what is the relationship between money and happiness? Do you think, as many do, that happiness is a by-product of wealth? Finding the answers to these questions may be difficult because money can easily be measured, or counted, while happiness cannot. You cannot put happiness on a scale and weigh it.

Then, too, some rich people seem to be happy, while others are miserable. The same is true of those who are poor. Still, most people—even those who are already wealthy—believe that more

Name: Larry
Age: 38
Occupation: Fireman
Income: $31,000 a year
Will retire wealthy: Age 53

Larry lives in Canada and loves to fish. His fireman schedule is unusual. A couple of 24 hour shifts and then several days off. Great for some fun fishing trips in the summer, but what about the winter?

In winter, Larry runs snow removal business alongside his job as a fireman. During the five months of snow. Larry nets about $300 a week after paying a part-time employee to help for those times when Larry is at work.

With net income of over $6,000 a season, Larry’s investment fund grows and grows. He chose starting a snow removal business so that it wouldn’t interfere with his summer fishing trips.

Having a part-time business doesn’t mean you have to give up your free time and hobbies. Simply pick the type of part-time business that fits your needs and lifestyle.

Here is

Money to invest? What money?

If you’re going to have money working for you, the first thing to do is to get some money, right?

I know what you are probably thinking,
 
        “Sure I understand that it takes money to make money, but I don’t have any money. I can’t pay my   bills now. I want more  money, but I can’t save any money on my present income. I’d like to use this method, but where will I get the money?”

Let’s talk about method #1 for getting some money to start your investments. Remember, you want money working for you so you don’t have to do all the work.

If you don’t want to use method #1, that’s okay. It’s only one of the methods that are available for your use. But you might want to give this method a try since the discipline it teaches is a discipline you’ll need to

This is a big error that most people make. They believe that their job can make them wealthy. Look around you. How many wealthy job holders do you see in your neighborhood?

Jobs are good. They pay the rent or mortgage. They buy our clothes and food. However, you do have to go to work to get paid.

This is a major inconvenience. If you have to go to work everyday to get paid, you’re not financially free. You have to continue to work for a living. And chances are that your job doesn’t pay you enough to lead the style of life you want.

For instance, let’s say that you want five weeks vacation this summer with the family. The job gives you two weeks vacation.

You’re not wealthy if you don’t have the freedom to take those additional weeks of vacation with the family.

Another problem is that jobs just don’t pay enough

So how much money do you need?  What does financial wealth mean to you?

 * Having a million dollars in your savings account?
 * Recieving a check in your mailbox every month that covers your monthly expenses?
 * Never having to go to work again?

These are just some of the definitions of financial wealth. Your definition might be quite different from anyone else’s. However, no matter how you describe financial wealth – you can get there using one of the many proven paths mentioned in this series of post.

Let’s imagine that financial wealth means that you have enough money to live the lifestyle you want – and you never have to go to work again. Fair enough?

In other words, you have all the money you need to lead a comfortable life. How much is that? Let’s look at some examples:

1.  Ed love to camp out in “fishing territory.” All Ed needs

If you love automobiles, you can make money and become wealthy in your hobby!

Name: Harry
Age: 31
Occupation: Carpenter
Income : $25,000 a year
Retires wealthy: Age 41

Harry loves cars. He dreams about cars. He details cars. And he loves to go car shows.

His hobby and passion is to purchase used cars, do minor repairs, clean and detail the car, and then resell the car for an $800 profit. It’s nice to make a profit on your hobby!

So what Harry’s goal for his part-time hobby/business? He wants to resell two cars a month, ten months out of the year. The other two months are reserved for sky trips. That’s a total 20 cars sold a year at $800 profit each – for a grand total of $16,000 of extra yearly income.

What does Harry do with his money?

He invest it wisely in stocks, his own house, and re-invests in his hobby/business

I have a good friend who won’t become wealthy. He says he’d like more money in his life, but here is how our conversations go:

Me: “You know that if you invested in real estate you would have paid off properties in ten or twenty years. Then you could quit that job you hate and go fishing”.

Friend: “No way do i want to own a rental house or a couple of apartments. I don’t want to deal with tenants, repairs, or colecting rent. That’s not for me”.

Me: “Did you ever think about getting a part time job? You could invest the extra income in some mutual funds and let them accumulate. After awhile, your stocks could give you enough dividends so you wouldn’t need to commute to that job every morning”.

Friend: ” No way could i work a part-time job I need time to relax and enjoy that new big screen