According to Wikipedia passive income is an income received on a regular basis, with little effort required to maintain it. In other words, you are getting passive income. You don’t need to work almost at all to get money. In this post, we are going to have a look at 5 benefits of passive income. I will also reveal to you how I earn money online on “autopilot”.
Before we dive into the article I want to give you an opportunity to take a look at my video where I explain the benefits of passive income and how you can earn it as well. I believe you will find this helpful and valuable. Enjoy!
Why is passive income important? Here are the 5 reasons.
1.You can provide value for more people
2.It forces you to learn
3.You have more time available for other things
4.Live anywhere you want
5.No income limits
Would you like to learn to earn passive income online? I earn money while I sleep, go for a walk, chat with my friends or lay on the beach.
Numerous people who have gone through that training are nowadays earning a full-time income online and having a freedom to live wherever they want and work whenever they want. Some people went even from $0 to $10,000/month without prior knowledge. NOTE: Of course it required work and persistence but over the time course it pays off.
Anyway, let’s discuss now more in detail about the benefits of passive income
If you want to earn money you need to offer value for someone. If you are an employee you are providing value for your boss and his customers. Then the customers pay your boss and the boss pays you and takes a little for himself.
Usually, if you want to earn the passive income you need to sell something. Rent a property, sell books, sell movies, sell music, sell other products or services which don’t require your own time anymore or sell investments when the value has gone up.
We all have 24 hours/day. If you want to counsel 100 different clients every day it’s almost impossible. But if you write a book or create a website you can counsel 100 000 people every day if they read your book or visit your website.
Or you can make a great song that serves 1 000 000 persons all around the world. Once you have made the album people can buy it and you get passive income.
Let’s face the fact: earning active income, in general, is dead easy. You send a job application, go to a job interview and get applied. Then you start doing what your boss tells you to do and he pays you. You are just required to do what your boss says but nothing more. (Okay this is a bit simplified but you understand the point.)
But if you want to earn a passive income you usually have to learn some skill before you can earn it. There are many different ways to earn passive income but probably one of the most common ways is to have your own business.
When you have your own business you need to be interested in your own subject and provide value for other people. Then you need to learn marketing and selling. Of course, you can outsource many things but most of the time having business forces you to face and learn many things that you haven’t ever faced before.
Let’s say that you are working 40 hours a week and sleep 8 hours a day which makes 56 hours a day. There are 168 hours in the week so you are awake 112 hours a week. That means that you are working over 35% of the time you are awake.
If the travel to your work takes 30 minutes back and forth, then your work requires over 40% of your time. THINK HOW MUCH THAT IS! Add the time you think and talk about your work with your friends. It means that work takes the half of your whole time (and life).
Do you want to learn new skills that you are not practicing at your workplace? Do you want to study some interesting subjects but you don’t have time because of your work? Or are you bored with your actual work? If you answered yes, then passive income could be a good choice for you.
Do you want to travel, dive into new cultures and live anywhere you want? When the income you made doesn’t require your presence you can choose where on this planet you want to spend your time.
Online businesses are a great example. When you have a laptop and internet connection you can connect if it’s required.
I just want to mention that there is no 100% passive income. If you buy and hold stocks then it’s probably 99,5% passive income. and if you are renting houses you still need to find a tenant and see that he has paid the rent.
But compare for example if you are driving taxi and earning commission of your shifts then it’s 0% passive income.
There are 24 hours a day. If you earn $50/hour (which is a lot over average) that makes $400 in 8 hours. If you work 14 hours that makes 700$. But there’s actually a limit. Your income limit is $700/day (given that you can work 14 hours a day).
But when you are earning a passive income you can earn $10 000/day because work doesn’t require your presence. Warren Buffett earned $37 million per day! in 2013. Let’s compare $700 and 37 000 000$. Is there a little difference? Which one would you prefer?
If you are working only for active income there always will be some limits. If you earn $20/hour the limit is 280$/day.
Instead of going to study 5 years university degree (and get a student loan) could one possibly be to build a business and start earning passive income?
Earning passive income is highly beneficial and recommendable. By earning the passive income you can provide value for millions, learn a lot of new things, have more time do the things you want and live anywhere you want.
Remember that earning passive income doesn’t mean getting rich overnight. It usually requires a lot of hard work and studying before you start earning it.
If you are interested in earning passive income through online business I recommend to start in Wealthy Affiliate
What do you think about passive income? What are the greatest benefits in your opinion?
I would love to hear from you in the comments below.
You may have earned some dollars from online surveys but at the same, they are spending your valuable time. You may be asking “Are Online Surveys Worth It?”
In YourOnlineRevenue.com we have reviewed several survey sites: Clixsense, Cashcrate, Toluna, Opinion World and so on. We know that people are making money from them but still, we are not recommending any of them. If I would recommend survey sites, I would probably earn good amount of money when people would join through my links and I would earn commission from referrals.
So why am I throwing money away by saying that online surveys are not worth it?
Because I want to provide the best information and value for my readers. I don’t want to recommend something that I wouldn’t be ready to use myself.
You may have seen pictures from successful Internet marketers of their survey site earnings. Below they have written, “Easy $50 every month.” That’s their way to motivate new people to join through their links and they will earn commissions for referrals. That $50 may be easy if they earned it only by answering surveys but it doesn’t mean that it would be worth it.
If you have spent 20 hours to earn $50 from surveys, I wouldn’t say it’s worth it. You may have earned that same $50 in 3-5 hours in your normal job and spent the rest 15-17 hours doing something fun that you like to do instead of answering surveys. Would you prefer sitting 20 hours in front of your computer or 3 hours at work + 17 hours with your family/friends? I would take the latter one.
99,99% of the times you will be making much better income with a normal job compared to answering surveys.
Conclusion 1: Don’t answer surveys for money. They are not worth it. ANY other job makes you earn more. And there are much better online opportunities out there.
Probably you may think that answering surveys or playing little games can be an easy way to make some useful extra dollars. But let’s analyze this subject a bit closer. My claim is that your life should be spent in a more valuable way than answering online surveys and playing little games to earn some pennies.
It may feel like a little time to answer one or two surveys but if you keep on doing that, minutes and hours will add up to a huge time in total. Let’s say that you use 2 hours a week answering surveys. It makes about 9 hours in a month. You may earn probably $20-30 with surveys with that time.
9 hours/month makes 108 hours/year. And imagine if you would spend double that time, it’s already 216 hours a year. In that time you could already learn a language to a decent level. Or you could learn how to play piano/guitar. Or you could earn $3,240 with $15/hour salary. With surveys, you probably would probably make max. $400 in 216 hours. The difference is $2800.
Or you could use that 216 hours with your children, with your loved ones or with someone else that you enjoy spending time with. Why on earth would you like to spend your valuable life in front of your little computer answering those boring surveys or playing those useless games!?!
Have a look at my recent video on Youtube where I explain why online surveys are not worth it. (I made the video after researching more than 100 survey sites.)
If you are answering surveys with an excuse, “I just want to relax a little bit.” I have here 3 alternatives that are far better ways to relax than filling online surveys.
Conclusion 2: Don’t answer surveys for relaxing. There are much better ways to earn money online.
As we concluded before, online surveys are not going to make you good money. But I can honestly tell you that the Internet is full of opportunities to earn money online. And it can be ultimately profitable. See 5 examples of guys who are making +$10,000/month (all of them started without any experience!).
That way is called Affiliate marketing.
In a nutshell affiliate marketing means that there is a company (for example Amazon) and they have products (for example books). Then you leave a link about their product to your website, social media or anywhere else on the Internet. Then somebody clicks your link and buys some product (from Amazon). Then you earn some commission from the company.
In affiliate marketing, you don’t need your own products. It’s good to have your own website where you can leave links and create some content. You can write about anything you want. If you are interested in motorcycling, you can have a website about motorcycling and then link motorcycles, helmets and other equipment. Then you will earn money when people buy products through your links. If you don’t know anything about building websites, don’t worry neither didn’t I or people mentioned before! Nowadays building a website is EASY and you can build your own website in 30 seconds.
If you want to learn to make money through affiliate marketing I recommend you to go to Wealthy Affiliate where you will learn
The best part is that you can get started FOR FREE. Put your credit card away.
What are your experiences with online surveys? Do you find them worth it or not? Why/Why not? Leave a comment below and I will be more than happy to reply you personally.
Most of the ”make money online” -programs are not free. You need to invest a little bit in order to buy a program. Then many people ask, “Can I make money online without spending any money.”
The short answer to this question is, yes definitely. I made thousands of euros online in a short period of time without investing a single penny. And I know other people who have made it too.
But nowadays I have realized that it’s not always wise to try to make money online “for free”. Sometimes with a little investment, you can speed up the process a lot. Let’s say that you put $100 and get back $1,000. Isn’t that a good investment?
Today I am going to give you a few ways you could make money online without spending any money but I will also explain why it’s probably not the wisest and the fastest way.
One multimillionaire said, “In order to make money, you need to spend money.”
Let’s start with the classical and the easiest way of making some money online for free.
This is probably the easiest way to make some dollars online without any investments. Anybody can do this and earn easily some money.
The idea of these sites is that you answer surveys and do little tasks and then the company pays you a little reward. Those little tasks are for example:
We have reviewed tens of different “Get-Paid-To” -sites on YourOnlineRevenue.com but we have come to a conclusion we don’t fully recommend any of them because the earning potential is so much lower than in a real online business. But if you really want to try “Get-Paid-To” -Sites, then take look to PrizeRebel. It is the best that we have found.
One very common way to make a living online is by playing online poker. I have a few friends that have played professionally and earned a full-time income with poker. Many years ago, I made also very good money online poker this but then I stopped playing. Why?
Because I didn’t like the idea that somebody is losing money when I’m winning. I didn’t like the values of the poker world: Money, money, money. It can be hard for you to understand but I am a Christian and I want to help people rather than taking their money.
If you think about typical casinos, what comes to your mind? Drinking, gambling and other sinful things. I didn’t like that idea so I stopped playing even though I was making a good income. I threw all my poker books into a trash can and decided that I will focus my energy on helping other people rather than taking their money on the poker table.
Afterward, I realized it was a very good choice. I really want to maintain a clean conscience before God. If I would play poker professionally, I wouldn’t have a clean conscience.
You can create a website in 30 seconds without former experience with WordPress. You don’t need any programming skills. You can just choose what kind of site you want, then make click a few times and your site is ready. Did you know that more than 25% of all websites on the Internet are made by WordPress?
Just write a name of your website below and get started!
When you have a website you can make money by several ways. Here are some examples:
If you want to have your own products, then you probably need to spend some money. If you are doing affiliate marketing, you don’t need to care about shipping, difficult customers etc. Simply said, you are just promoting other people’s products and earning commissions.
This can be a surprisingly profitable way and some successful affiliate marketers are making even millions of dollars every year!
However, if you start your website with $0, then your website’s name will look like xxxxxx.Siterubix.com or xxxxxxx.Wordpress.com. In my opinion, that’s not very professional. What if my website would be YourOnlineRevenue.wordpress.com? It wouldn’t look very convincing, huh?
That’s why I would recommend investing some money on buying your own domain and getting a domain hosting. Then your website will look like xxxxxxxxx.com. Like my website is for example YourOnlineRevenue.com. But of course, you can start with a free site like MyWebsite.Siterubix.com and later on change it to your own domain: “MyWebsite.com”
You can do lots of things online as a freelancer. You can be for example:
You can actually do a living with these freelancing jobs. Especially if you are living in a cheap country and earning dollars online. Probably one the most famous places to find freelancing jobs online is Fiverr.
I have hired people from Fiverr and so far the price/quality -ratio has been very good. What are your special skills? Maybe you could also sell your skills on Fiverr? If you don’t have any special skills yet to make money online, there is a step-by-step training for you.
If you have lots of followers on social media you can make lots of money by promoting some products. Sometimes companies pay if you have a certain amount of followers just for mentioning the product in your posts. But then you would really need a big audience because otherwise, they will not pay you much.
Then you can also join groups on Facebook and other social medias and promote products. The danger of lots of promotion is that people may easily see you as a “spammer” who just wants to sell his products. So, please, avoid spamming!
With MassPlanner tool you can easily get thousands of followers in a few days in different social medias. You can get started with MassPlanner for free and the price for a premium version is also very affordable. Even many full-time Internet marketers use MassPlanner so it’s definitely worth trying.
I have made money online with several ways but there is something that I mostly recommend. But first I want to mention that this is not a “get-rich-quick” -scheme or something like that.
It’s a real training where you will learn real skills how to build your own online business. Most people who start the training don’t have any background or former experience. Some of them try it for a while and maybe earn some money. Some become a full-time online entrepreneur.
I have written a full review about Wealthy Affiliate so you can know more what is it all about. They teach you many different and honest techniques how to make money online. One process goes like this:
1.Choose your passion (for example pianos)
2.Build a website (for example about playing piano)
3.Get traffic (from Google and social medias)
4.Earn income from visitors.
If you become a member of Wealthy Affiliate, I will also promise my 1-on-1 -mentoring. You can ask me anything you want and I will share my best trick and tips. Start training today and get 10 interactive video lessons for free!
Yes, you can but it’s not always wise. I pointed out before a few ways how you can quickly speed up your process by making little investments. If you use $50 for a dinner for two people in a restaurant, why wouldn’t you invest $19 euros to an online business that can make you a living in the future?
What are your favorite ways to make money online? Have you invested money in your online business?
Over and over again I keep on reading the success stories from people about their online businesses. See for example “$0 to $10k In 3 Years” by a guy who started earning 5-figure passive income from internet after working three years for his online business. Or see this “My First $10,000 Month!” by 20 years old guy who started also earning 5-figure passive income from internet.
There are numerous stories like this but there is one common thing in those stories.
Even though they had challenges, they didn’t quit.
If we compare the amount of those who start an online business to those who start making 5-figure passive income there is a big difference. Only a little fraction of the starters will reach the point that they can say “Woohoo! I’m making $10,000/Month.”
Why is it so?
Let’s compare those two groups a bit.
What is the most significant difference between Those who reach 5-figure passive income vs. Those who don’t make it?
When I have read numerous texts from the successful online business people they have always one common advice.
DON’T QUIT! If you want to fail quitting is the fastest way to do it.
Those who have succeeded have been there usually for years. They have seen tens, hundreds and probably thousands of people quitting while they have still continued. They have heard many people saying, “This won’t pay off. I quit.” Probably the quitters have listened too much other other ones who have failed before them.
Successful people have the one thing in common. They haven’t quit. They have had the same struggles as everyone else. They keep on telling about their struggles but now they see their struggles in the new perspective because they have reached the goal.
But most of the starters didn’t have enough patience to wait for the results.
You are probably familiar with the term delayed gratification. According to Wikipedia it “is the ability to resist the temptation for an immediate reward and wait for a later reward. Generally, delayed gratification is associated with resisting a smaller but more immediate reward in order to receive a larger or more enduring reward later.”
Usually doing online business requires delayed gratification.
If you go to work for a normal job you will probably earn $100-$300 for the first day. In online business you may have to work three months or more to get the first revenue. (Some people get their first revenue in their first week but that’s now very usual.)
But the reward after a lot of work would be that you will get bigger reward than in the “normal work”. Compare which one would be better:
After three years of online business you start earning $10,000/month passive income vs. after three years of “normal work” you will earn $4,000/month if you work for 40 hours/week.
Here a successful guy in online business asks a question, What if I said that you had to work 12 hour days for 3 years, but then after that you would own a six-figure business and could set your own hours. Would you do it then? That’s a crucial question.
If you won’t to success in online business don’t quit until you make it. Shia Labeouf says in his famous motivational video “If you are tired of starting over, STOP GIVING UP.”
That is the key to success. Don’t give up. Persistently keep on doing the right things until you can reap the harvest.
Think how the things will be after three if you quit now? How the things will be if you don’t quit?
Think about the times when you have succeeded well in your life. What were keys to success? Share with us!