Passive Income

Passive income is earnings derived from a rental property, limited partnership or other enterprise in which a person is not actively involved. As with active income, passive income is usually taxable. However, it is often treated differently by the Internal Revenue Service (IRS). Portfolio income is considered passive income by some analysts, so dividends and Interest would therefore be considered passive.

quoted by: http://www.investopedia.com

I have read, listened, and saw plenty of CPA’s, Real Estate agents, and Financial Advisors talk about passive income; but their are only a few to do while in college with limited funds (money).

The first one is my favorite which is a High Yield Savings account. So instead of getting a penny $0.01 a month for every $1000 dollars, you have your getting $2 a month that’s a huge difference. The reason why this is my favorite type of passive income is because I am able to invest at a very low risk which means I am less likely to loose my investment.

The Secondary way to create passive income is through Real Estate Pool Investing which gives you over 5% back in interest. Which is pretty cool considering that your only getting 0.09% from your current savings account with your ordinary bank. I currently made $22 from letting my money sit. I’ve been using a popular and reliable platform called, Fundrise. What Fundrise does is raise money for a specific Real Estate Property that gives you back and average of %5 back on what ever you decide to put in. The minimum amount to get started is only $500 and it’s pretty easy to setup.

The last passive income is the stocks market. The reason why I put the stock market as a passive income is because there is a slight trick to making the stock market passive now of course your not going to make as much as active people in the stock market you can still make a significant amount from dividends. Dividends is “money” the company gives the stock holder for per share. Sometimes they give it quarterly or monthly, the best dividend stock out there right now from the time writing this post is “PSEC.”

There many other ways to create passive income. Even some businesses can even be passive. Writing is one of the most passive incomes created, think about the only work you do is to write the book, publish, and promote. This is why many pastors and entrepreneurs write books, it’s an investment that accrues interest over time by promoting yourself.

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Double Up

Lets Double Up, lets make something work, lets do what broke people don’t know how to do, but how do we do it ?

There are a lot of easy, but difficult task to do in order to double your profit (money). Let’s see how to do this effectively to where we double our profits continually. Here are different ideas and proven methods to “DOUBLE UP!”

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First off I suggest finding something your good at doing it might be fixing, creating, selling, or maybe you can speak two or more languages. Find your talent first and feed into it.

I found this post to be important because I made an extra 1000 just by doing these tips. My skill is fixing cars. Knowing that I went surfing the web for cars I know I can fix with little cost. You will never guess what I found… I found a 2000 BMW 323i listed for $550.00 looking at the problems on the vehicle I knew it was a easy fix. I had to replace two heater pipes for the coolant system, which only costed me $300 in parts. For a totally profit of $1,150.

This is just an example of what you can do on eBay, OfferUp, LetGo, and Craigslist. Search for and item you know is worth more then is listed and flip it for some profit. This could be furniture, games, Jewelry, or maybe even cars. For my creatives out their you can find items that are cheap to create something worth buying.

We can can double up are income just by using these three things.

• Searching

• Fixing/Cleaning/Creating

• Selling at listed cost

If you choose to use these tips you can double your profits easily. Learn how to post your products on as any selling platforms as you can. You’ll soon end up doubling up your income in no time I hope for the best for you guys.

What’s The Plan

Success can not happen with out dedication and most importantly goal setting. Writing down your personal goals is the easiest part of goal setting. The difficulty in goal setting is achieving your goals. So what’s the plan ?

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Okay so what’s one of your goals ? Maybe you want to build your own business or retire at a young age. That’s great, but let’s take it one goal at a time. We all have big plans for ourselves but we don’t really do the work for setting goals to get there. If you are wanting to retire at a young age do you have a stock broker or investment account yet, if not go look for the best of the best rates and returns first then select your plan. This is just one step you can make now towards your goal. Find your vehicle, some cars go faster than others its the same for your investments, just way out the risks. If you choose a faster vehicle for your investments, you might crash. If you choose a slower vehicle you are less likely to crash because your going the speed limit.

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 As you choose your vehicle and set reachable goals, you want to have a vision behind it all. The bigger your vision, the more drive it will bring when accomplishing your reachable goals. Allow me to give your an example:

my vision for everything I do is to influence and change the bad habits of the world to create an atmosphere where people are selfless more than selfish.

SUMMARY: set reachable goals and a line it towards your vision.