Ways to Build a Passive Income

Build a Website – Build a Passive Income

Wealthy Affiliate is about building websites. But before one starts building a website they should understand what they are REALLY building. In reality you are building a passive income. In this article I’ll explain to you what passive income is and what it isn’t, as well as suggest several ways to build a passive income. Finally, I’ll explain the benefits of why I think creating a website and becoming an affiliate marketer is a great option to build passive income and how it can help you achieve the financial dream you’re looking for.

Let’s Define Passive Income

According to Wikikpedia – Passive Income is an income received on a regular basis, with little effort to maintain it. It is closely related to the concept of unearned income.

Well gosh, I want a BUNCH of that!

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However, I believe there is no such thing as unearned income, especially unearned passive income. So let me break this down a little further and say this, “Passive Income is created when you invest time, effort, risk and/or money into something and reap the rewards further down the line. In order to do this you must have systems in place now in order to generate future income.” For example, if you currently “punch a clock” for work your income stops once you punch out. With passive income you are still making money even after you’ve “punched out.”

What Passive Income ISN”T

Easy.  A lot of hard work and time is often invested to create a passive income. One must put in the time and effort to create a successful system. Or, they can let someone else do it for them, a financial planner or a property manager for example.
It takes time. Do NOT think of passive income as a “Get Rich Quick” scheme. You will only be disappointed. Remember, Rome wasn’t built in a day, but they were laying bricks every day.
It Is NOT Impossible to Generate Passive Income. With determination, a good support system, and the right tools anyone can create their own passive income.

Some Ways to Build Passive Income

1. Use Cash Back Credit Cards.  This may be one of the few ways to actually get something for nothing, in a sense. By using a credit card that pays you money every time you use it you are creating passive income. This is great if you are purchasing things you need anyway. I’ve paid for a few vacations this way. (Be sure to use the card responsibly though.)
2. Write a Book and Get it Published. It may take you years to write it but if you write a great book you can reap the royalties for years to come. Or write a song or a play or an
e-book! By the way, I’ve done this! “Bear and the Meaning of Christmas” and “Bear and the Meaning of Christmas Coloring Book.”
3. Invest in Rental Properties. There is always someone looking to rent a home or an apartment. Being a landlord is one of the oldest ways in the book to earn a passive income. Someone else pays your mortgage, your property is appreciating and you are collecting the profits every month. I’ve done this, and am still doing it. 🙁
4. Invest in a REIT.  A Real Estate Investment Trust (REIT) is a company that owns or finances income-producing real estate. Modeled after mutual funds, REITs provide investors with income streams, diversification and long-term capital appreciation.
computer clip art5. My favorite – Build a website and become an affiliate marketer. Spend the time now to build your website and earn commissions for years to come.

There are a bunch more ways to earn a passive income but you can see from these examples that something is going to be required from you in order to get a flow of passive income started. Building a website is my favorite because I am not only earning an income, I am also HELPING to teach people how to build a passive income! With my other website, agoldenmixoflove.com I am helping people overcome issues with their dog or just giving a dog lover a pleasurable read.

More Reasons Why I Chose Affiliate Marketing

1. I can keep my audience informed. No matter what topic my website is targeted on I’m able to update visitors in real-time, announcing new products and services.
2. I am always open. My website is never closed. I can be making money 24/7, 365 days a year, and it’s accessible from anywhere in the world.
3. It’s an avenue for dialogue. By reading and commenting on my audience’s comments I can provide consistent and relevant information that they are looking for. Hence, creating repeat customers.
4. It’s affordable. A quality web presence and affiliate marketing doesn’t require a large investment. If done right, the returns are almost immediate and you are able to easily track where your audience is coming from.
5. You can build multiple streams of passive income. Once you have your first website up and running you can start on a second, then a third. You can join forums where others will share their content with you so that you don’t have to be continually writing your own idea. (Yes, you will give them full credit and possibly even pay them.)
6. With Wealthy Affiliate, building a website is FREE to get started! Plus you get all the training you need to help you succeed.

In addition to these benefits, you may be able to come up with some more of your own.

Start Building Today

Passive income is income that is received in the future on a regular basis. It is not always easy to create and can be time consuming to get it started. However, once the systems are in place you should be able to enjoy the income from your hard work for years to come. Although there are many ways to build passive income I believe creating a website and using affiliate marketing is the best way to go, as it offers many benefits that you have the power to control. To start creating your own FREE website now click the banner below.

 

 

 

 

 

 

Read the complete Wealthy Affiliate Review here.

Questions and comments are always welcome!

I hope to see you in the chat room,
Lori

Sources:
http://www.yola.com/blog/5-benefits-to-having-a-website/
http://www.smartpassiveincome.com/passive-income-101/
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