HOW MUCH PASSIVE INCOME HAVE YOU CREATED TODAY? - By J Scott
Sep 11, 2023HOW MUCH PASSIVE INCOME HAVE YOU CREATED TODAY?
I've reposted this once or twice a year since 2018 -- if you listened to this advice then, today you would currently be generating $18,250 in month in passive income (over $200K per year).
Did you do it?
If not, why not?
And are you going to make that same mistake again over the next 5 years?
10 years ago, I set a goal of CREATING $10/month in passive income each day.
EVERY SINGLE DAY I do something that will create $10/month in passive income.
I knew that if I could do that successfully, at the end of one year, I will be generating $3,650 per month in passive income. Income that comes in EVERY SINGLE MONTH.
And if I can do that every single day for 5 years, I will have added $18,250 per month in passive income. That’s $18,250 in income…EVERY SINGLE MONTH.
Think about that: If you can create $10/month in passive income every day for 5 years, you will be generating over $200,000 per year in passive income.
Money that will come in every single month.
Every single year.
Now, you might be thinking that creating $10/month in passive income every day is really tough. And I’ll be honest, it’s not easy. It takes work. But, anyone can do it.
Here are some ideas on how you can create $10/month in passive income each day:
- If you spend 30 days working on the purchase of a rental property that generates $300/month in passive income, that averages to $10/month each for each of those 30 days – you’ve accomplished your goal for every day that month;
- If tomorrow you loan $1,000 to another investor who pays you 12% annual interest, the interest on that loan will pay $10/month, and you will have accomplished your goal for tomorrow;
- If you spend 15 days writing an eBook on a topic that you’re an expert in, and you generate just $5/day in sales of that eBook, that averages to $10/month each of those 15 days;
- If you spent 3 days creating an epic YouTube video teaching some aspect of business that you know really well, and you generate $1/day in ad revenue from that video, that averages to $10/month each of those 3 days;
- If you write a blog post every day, and each blog post can generate just 33 cents in AdSense revenue for your blog, that averages to $10/month each day you write a blog post;
- If you rent out a room in your house…
- If you invest in a syndication...
- If you purchase a performing note…
- If you sell an asset using selling financing and create a note…
- If you do some affiliate marketing for products you love…
There are LOTS of ways of creating passive income.
And even if you can’t create an average of $10/month every day, perhaps you can create $5/month every day (that’s nearly $10,000/month after 5 years).
And if you can't create $5/month every day, perhaps you can create $1/month every day (that’s almost $4,000/month after 10 years).
So, how much passive income have you created today?
And where will you be in 5 years?
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