Recession Proof Income

Passive Income Ideas - How to Recession-Proof Your Livelihood With a Backup Source of Income
By Keith McCormick

Are you looking for some passive income ideas? Before you decide on a passive income opportunity, you should make sure that you understand what "passive income" really is. Passive income is any type of income that does not require any manual effort in order to generate revenue other than the initial set up, initial production, or occasional efforts to maintain or enhance it.

Investing in stocks is one such example of a passive income idea. You purchase a share of stock once and let the market handle the rest. Occasionally you will need to check up on the stock or you may need to buy more shares or sell some shares, but it is passive, for the most part.

But not all passive income ideas require you to invest money, as investing in stocks does. It is possible to generate passive income from some form of labor. You work once and can theoretically be paid forever for it. One such example of this is collecting royalties for intellectual property such as a manuscript, a song, or a painting. These do not require the investment of any money but only of some time up front which will theoretically pay off for some time infinitely in the future. Of course you would need to put forth the effort to market your work, but if done effectively, you can make an infinite return on investment.

In the modern age, the Internet has become the medium through which millions of people across the world are already earning passive income. Many of them are earning this income on a part-time basis while maintaining their day jobs, while others are making enough money passively on the Internet that they do not need to work a day job anymore. They are able to live entirely off of the passive income from the fruits of their labor, off of the Internet.

The Internet has leveled the playing field insofar as the barriers to getting into an Internet business is concerned. Sure there are behemoths like Amazon, eBay, Yahoo, and Google, who have multi-million dollar budgets with which to invest in advertising and technology. But the reality today in the 21st century is that anyone with nothing more than a computer with an Internet connection can get started with setting up a system to generate passive income today, and can be earning paychecks within a couple of weeks. No prior training, no education, and no money needed.

What are some passive income ideas for making money on the Internet?

• Blogs is one example. Anyone can set up a blog for free on the Internet. Once you set up and maintain your blog you can set up free banner advertising on your blog through systems such as Google AdSense. As long as you are writing about a relevant topic and actively maintaining it, it will only be a matter of time before your blog is indexed by Google and people will start visiting it. Anytime someone clicks on any of the free advertisements on your blog, you will earn some revenue.

• Affiliate marketing is another example. Anyone can join an affiliate program from any vendor absolutely free and start promoting that product. If anyone clicks on your affiliate link to buy the product, you earn a commission. Commission Junction and Clickbank are two examples of affiliate marketing networks.

There is no excuse for anyone today to not be able to earn passive income on the Internet, whether it is just a few dollars per month or several thousand dollars per month. All it takes is generating a few passive income ideas and experimenting with all of them until you find one that works.

It's time to recession-proof your income! Whether you've been recently laid off or you are looking to generate an alternate source of income in the midst of this economic downturn, Internet marketing continues to be a thriving, lucrative source of income for hundreds of thousands of individuals and families world-wide.

Article Source: http://EzineArticles.com/?expert=Keith_McCormick
http://EzineArticles.com/?Passive-Income-Ideas---How-to-Recession-Proof-Your-Livelihood-With-a-Backup-Source-of-Income&id=864712

The Rat Race

Here's a little video of what 80% people are doing daily. It sucks, I know.
That is what is like without passive income, till we die! I wouldn't want that!!

The first thing I'd do when I have enough passive income, is to throw my alarm clock away.

Robert Kiyosaki

Rich Dad Poor Dad
I believe most of us have read the "best selling" book "Rich Dad Poor Dad". (If you have not, go grab a copy of it now!)

By clearly differentiating poor mindset and rich mindset, Robert Kiyosaki sparked many people into thinking. It is amusing to see how the keywords "rich dad poor dad scam" ranked 1st as compared to "rich dad poor dad". When it comes to money matters, we are total SKEPTICS, unwilling to forgo our past experiences and not listening to others.

Why not think logically?
Think.

Who cares the authenticity of Robert Kiyosaki's story? Just look at him, he makes more money than WE do. That proves, he knows something that we don't know.

Now, Robert is sharing his thoughts into this book, shall we learn from it?

Robert Kiyosaki - Author of "Rich Dad Poor Dad"

How important is passive income?

Passive income is as important as drinking 8 glasses of water everyday. Some people see it as a necessity, while others think otherwise.

Case 1
James, 34, is a pilot garnering a income of $7,000 a month. He is able to afford an expensive car, a luxury house with big gardens and anything else that he likes. His monthly expenses, which includes the installments, credit cards, utilities, etc, turns out to be $5500. That leaves $1500 to save every month.

Not a bad lifestyle.

James was retrenched a year later, due to the global economic crisis. Other airline companies are offering him only $4500.
So what happened to his expenses? They remain. James was unable to accept his new lifestyle.
James wanted to ask for a higher pay, but there are many other pilots who are willing to work for less clinched the job.

Now James is jobless.
Income: $0
Expenses: $5500


Case 2
Connie is a school teacher. She has an income of $2500 and a monthly expense of $1000. Connie saved up $1500 every month and invest it into any business opportunities.

Every year, her passive income increases.

At the 2nd year of investing, her passive income was $900. However, she saved up that $900 every month and re-invest in for more passive income.

Finally after 5 years, her passive income became $3200. Right now, Connie have many choices.
1) Re-invest for bigger passive income
2) Quit her job, maintain her current lifestyle
3) Continue what she is doing right now, getting BOTH passive income and work salary


Importance of passive income
Passive income gives us the TIME and FREEDOM to do the things we like. Ask ourselves, do we enjoy our work right now? If yes, for how long can we work? If no, then why are we doing the same routine everyday?

Do you want to receive passive income after retirement or zero income after?

http://www.aboutpassiveincome.com/

What is passive income?

Passive income
We have probably heard of passive or residual income, but do we really know what is it?

Passive income is an income which we collect with little or no effort at all. .. .. Sounds like money falling from the sky? Not quite.

Some classic examples of passive income are:
Rental (Income from renting out a property)
Royalties (From writing books, CD albums, movies etc)
Businesses (Being a sleeping partner or shareholder)
Dividends (Stocks, shares, bonds and any other paper assets)
Internet Marketing (Most people call it the web 2.0)
And many many more...

I have a friend that did nothing but writing hip-hop music. For every music that he wrote, he earns a minimal sum of money every time someone buys it. His publisher was probably earning loads of money from him, but he didn't care because he doesn't want to be involve in all the publishing hassle.
After 5 years, he had written over thousands of music and his publisher is paying him close to ten grands every month. Just today, he gave me a call that he is going to retire and travel all around the world. I was like.. HE IS ONLY 31 YEARS OLD. RETIRE?!
That's passive income.

So which is the best type of passive income?
Well, there isn't really any "best" passive income. Many people have misconceptions that passive income is equivalent to "quick buck", scam, big money etc.

The "best" type of passive income is to have SUSTAINABILITY and MODERATION.

Why?

Imagine spending $100,000 on a business that gives $2000 every month, but the business fails in the first year. It sucks because the business lacks sustainability.


Identifying good passive income opportunities
Opportunities are everywhere, some good and some bad. Always evaluate how long will the income lasts versus the amount of income in return.

A good deal is when you know this income is trustworthy and you will get back your initial investment in less than 4 years (an average gauge).