In today's economy, most people live from pay check to pay check. Those who are fortunate enough to have a job or own a business are well aware of the fact that they are trading their time for the money necessary for their survival.
They also know that if they stop working, they stop earning an income. Therefore, the attraction to passive income opportunities, which allow ordinary people like you and I create an income for themselves, by working once and continuing to get paid over and over again as cb passive income reviews, is understandable.
As Donald Trump put it, you do not have true wealth, unless you are making money while you sleep.
There are several passive income opportunities available today to take advantage of, but as you will soon see, they are not all created equal.
The amount of money that can be consistently made from a given opportunity depends on what that opportunity actually is.
And how effective the return on investment is. Some opportunities require a very large upfront investment, which pays a periodic dividend while others can be started with modest sums.
The amount of time required to ensure success also differs from one opportunity to another. While they will all require a bit of your time and involvement, the objective in seeking passive income opportunities is to allow you to continue to earn money without having to sacrifice your time in return.
So how do you know which ones are worth pursuing? A number of factors to look out for include how much money would you require to get started, and how much of your time will be required.
The time factor should be looked at from the point of view of the time needed when you first start, and the time that will be required as ongoing maintenance on a long term basis.
Some of the ways to create a passive income are as follows. This is by no means an exhaustive list, but rather a description of some of the more commonly sought methods of generating income while you sleep
Investment in Real Estate
Real estate investors typically are in it for the long haul, and it is not uncommon to find such investments being handed from one generation to another. A key attraction to this sort of passive income opportunity is the fact that it generally is not time consuming over the long term.
Once your property is rented or leased, your income is pretty much guaranteed. The downside is that these types of investments require a substantial amount of money as an initial outlay to pay for the properties you invest in. It is also subject to the variances of the property market, and economy in general
Investment in securities
Securities in the form of stock, bonds or other types of negotiable money instruments are another way of letting your money work for you. Some of these investments can become decent passive income opportunities.
If you have a significant amount of money to invest, are lucky, and know exactly what you are doing. Investment in securities can also be a very time consuming venture, especially if you manage some or all of your investments yourself. In this case,
you typically will have to invest a significant amount of time in market research, and understanding the underlying causes of market movement, in order to make sound investment decisions.
With this condition of the global economy in 2010, this is not for the faint of heart; it is also subject to the general economic climate.
Network Marketing
Network marketing is another vehicle that has the potential to get one into the position of generating passive income. Network marketing, also known as referral marketing, or direct selling is a very controversial subject,
Due to the strong opinions held by both the proponents and the opponents. The main reasons for this controversial nature are the extremely high failure rate, which some estimates have put in excess of 95%, and the way that the majority of the practitioners go about prospecting.
The slim chance of success in Network Marketing is a huge downside.
The network marketing model in theory is an ideal passive income opportunity, because it is based on allowing you to make periodic recurring income from sales product or services that your customers subscribe to, as well as giving you over-rides from sales made by your team members or downline.
Depending on the services offered, Network Marketing can also be immune to declines in the economy, a fact which counts as a benefit to this sort of business.
Whatever passive income opportunities you choose to pursue, you need to keep in mind that there will always be an element of your time and money required to properly establish yourself. In other words, your income will never become passive immediately.
In addition, you will always be better served doing a bit of research to be sure that you have a fairly good understanding of what you are getting into before taking the plunge.
