Passive income is described as:
“Income received regularly, with little effort required to maintain it.”
If you are trying to incorporate passive income into your lifestyle there are several options you can use. But each one has challenges associated with it.
For example:
1) Investing in Stocks – you can invest in the stock market. Many are trying their hand at day trading where individuals trade hundreds of shares daily.
The Goal – trade enough shares to make a few hundred dollars each day.
The Challenge – most stocks, even EFT, Binary, and Penny stocks, require large volume purchases to make enough profit day trading.
The Reality – stock trading costs, and market volatility, makes truly getting ahead tough. When the numbers are examined objectively the profits rarely outweigh the daily trading costs and losses. Add to this the fact that a market correction can be devastating.
2) Investing in Real Estate – many business gurus advocate buying rental properties as investments.
The Goal – own enough rental properties to receive a healthy passive cash flow each month.
The Challenge – tenants fail to pay rent, destroy properties, and very often skip. This can leave you with a new mortgage to cover each month.
The Reality – Before affording to hire a property manager you will field the broken toilet, and clogged sink, phone calls. Often they come in the middle of the night! Tenant destruction repair costs alone have driven many eager real estate investors away from this income pursuit.
Short Term Rentals (Airbnb) – Some investors are jumping on the Airbnb wagon. Short-term rentals are a luxury, not a necessity. People don’t need to go on vacation, or at the very least, they don’t need to go on an expensive vacation and spend thousands of dollars on lodgings. When the economy slows, people need to tighten their financial spending and eliminate luxuries; the tourism and vacation industries often suffer when the economy slows, which means you could be stuck with a property that is not earning cash; it could be losing money if your property is mortgaged.
3) Book Publishing – creating digital publications that you are automatically paid on is an exciting option for passive income.
The Goal – have enough digital publications that the monthly income can eliminate debt and contribute to personal wealth.
The Challenge – digital book publishing platforms (yes, even Amazon) are constantly changing compensation policies. In most cases, their objective is to pay the author/publisher less.
The Reality – the current mechanisms KDP have in place have made it harder for new publishers to generate significant income.
Is Passive Income Possible?
Some have become so jaded they are even claiming that passive income is a myth (or a lie). Having earned passive income for decades I can tell you that it is not a myth.
I believe that ‘multiple streams of income’ is the real solution that these weary critics have missed.
In life, most things ebb and flow just like the ocean. That is why it makes sense to have several, low risk, income streams set in motion.
This does 3 important things:
1) It eliminates the stress and anxiety of fretting about one income source (like a job).
2) It allows you to ‘ride’ the ebb and flow. One stream may ebb while two others will flow.
3) It gives you a way to reasonably predict what your profit will be from one month to the next.
You will notice that I said “… low-risk income streams…” earlier.
Long before investing thousands of dollars in the stock market, or real estate, you may want to examine the profit available in a Single Operated Newsletter.
3 Powerful Benefits of Single Operated Newsletters Include:
- You communicate directly with your clients without any 3rd party social media platform interference.
- You are paid directly.
- Your communications can be scheduled thus allowing you passive income streams.This rise of the single-operator newsletter is given to the fact that there is now technology available that will allow anyone, no matter their technical background, to distribute their mass emails.
What is a Single Operated Newsletter?
For a long time, emails had two primary functions:
1) direct peer-to-peer messaging (your friend emails you a funny link or life update) or business transactions (a brand solicits your
2) patronage; a publisher sends you something to read.
But in recent years, the Single Operated Newsletter has gained momentum. This is where an individual can run a mass-distributed email earning income to create a freedom lifestyle. This can be done even if said person is not a writer or author.
Charging readers for subscriptions — rather than advertisers for pageviews — is also in line with a more general shift in digital content. After the clickbait boom that incentivized publishers to prize the volume of their traffic above all, people are realizing that thoughtful content and careful research are valuable in the marketplace. And if you have compelling content (this is where PaidLetter.Com enters the picture) you can work for yourself.
The greatest benefit of email to publishers may well be what made it great in the first place:
Direct contact.
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