The following post was provided by guest contributor (and very talented musician) Ardiv Jauhari. If you are interested in being a guest contributor for My Money Design, please feel free to contact me.
When it comes to financial freedom, millions of people will tell you millions of different things. But a lot of times, the advice is only worth about as much as you paid to get it. In other words, how come so called “financial experts” have made far more money from peddling their books and tapes than they have in the financial sector or in the real world itself?
With Robert Kiyosaki, though, it’s all different. Here’s a financial expert who truly knows and understands the inner workings of money, finances, and more. And in fact, some of the major passive income ideas that he advocates are things he’s actually done, gotten rich from, and is teaching you to do now.
Passive income, of course, is making money and income without having to work for it. That is, you put in the work setting up the income stream, and then over time, income comes in naturally and you live the good life, enjoying the benefits without toiling all day and night over whether or not you’ll be able to pay the bills this month.
But when it comes to passive income, what do those ideas look like? And what can you do to truly take advantage of income streams and ensure your financial freedom to live and do the things you enjoy? Here are four income ideas advocated by Robert Kiyosaki as passive streams that can really make a huge impact on you and your life:
Kiyosaki’s Passive Income Ideas:
1) Buying House Properties To Generate Cash Flow: Homes and other properties are great ways to generate cash flow, as you turn monthly rental checks from tenants into a great cash flow for you and your needs. You do very little work on the house, and you get monthly rent checks flowing in simply thanks to your foresight to make the purchase in the first place – truly a winning strategy!
2) Write Books (But Make Sure They Sell!): You need to make sure they will be popular and effective, but Kiyosaki advocates writing books and other materials that you can publish (either on your own, or through a publishing company), and in turn, collect monthly residual checks as they are sold throughout the country, or digitally online.
3) Internet-Related Businesses Work Great: Internet-related businesses are great turnkey investments that, once set up, can generate massive amounts of income for people who have to do very little work to get there. From affiliate marketing programs to other Internet marketing techniques and businesses, this is surely something to look into when it comes to generating passive income for yourself and your family!
4) Invest Wisely in Stocks and Mutual Funds: Finally, investing in stocks is a wise move to generate passive income – but only if you know how to play the game and work the stock market. The kicker, though, is that wisely investing in stocks can bring you a great deal of money while doing very little work, an equation that is surely positive for you and your needs!
- Book Review: Rich Dad Poor Dad by Robert Kiyosaki
- What is Passive Income?
- P2P Investing Denied! What Should be My Next Passive Income Ambition?
Image courtesy of Amazon