Earn Passive Income

To have a solid budget plan, the total income must cover all necessary expenses (ie mortgage/rent, food, fixed bills, etc.), and leave enough for savings and discretionary spending.  When this income falls short you risk relying on credit that costs you even more, and one unexpected expense may throw your entire budget off track, as you are forced to reallocate your income and prioritize one necessity over another.  In order to resolve the cycle of living from paycheck to paycheck, there are two options once must consider: 1) reduce your expenses or 2) increase your income.

Even if you have a second or third job, you can only work a limited number of hours per day, and working too many hours for too long can be exhausting.  Simply trading your time for money limits how much money you can make, while also depleting your most valuable resource – your time.  If you need another source of income, creating passive income might be a better solution.  Passive income, money that you earn residually with little to no ongoing efforts, is a great way to supplement your income to not only meet your obligations, but to increase your budget so you have more to save, invest and achieve your financial goals.

Advantages of Passive Income

To earn passive income, you work harder upfront to invest in an asset, automate the system, then earn income residually. Here are some advantages.

  1. You are your own boss so you work when you want, and how you like without reporting to anyone. You can be as creative as you want without being limited by company policies.
  2. Freedom is the biggest benefit of all. Passive income allows you to travel and pursue other ventures and things you are passionate about, while you can usually work remotely by phone or online. You also have more time for family, leisure, and health activities.
  3. You can work anywhere. You can choose when you want to work and whether to work at home, the beach or any other location.
  4. You can achieve financial freedom. Because your income is automated, and you work only a few hours per week or not at all, you have more time to create as many passive income sources as you like. During hard economic times, some income streams may be affected while others continue to thrive. By generating multiple streams of reliable income you will be more financially secure.
  5. Your income is not tied to time. Once major benefit of passive income is that you no longer have to trade your time for money. You have greater flexibility to attend special events, look after a sick family member or go on vacation.
  6. Tax benefits. As a business you can claim the interest paid on your mortgage (if working from home), travelling costs, communication costs, web hosting costs, and other business expenses, reducing your taxable income.
  7. You do not get fired or laid off because your income streams are your businesses. As a result, you no longer have to rely solely on your employment income to meet your needs.
  8. You can sell the business or asset if you want to invest elsewhere and receive a lump sum for other endeavors. Check out how much money others are making from selling websites on Empire Flippers.
  9. You can outsource some of the work to the best talent you can afford and do the rest yourself.
  10. You earn while doing what you enjoy. By using your specialized skills and honing in on your talents, you may be able to turn your hobby into a business and make good money while doing what you enjoy most.
  11. Early retirement. Passive income can enable you to acquire wealth while enjoying more freedom and in some cases retire at an earlier age.

As a subscriber, you will receive updates on ways to earn passive income with a minimal amount of time investment.  As with any investment there are varying levels of risks involved.  You never want to risk more than you can afford to lose.  We strive to offer a wide range of opportunities so that based on your budget and risk tolerance, you can always find the right income opportunity for you.

Please see our latest passive income opportunities below.  You may also be interested in our recent articles on 10 Proven Ways to Earn Passive Income and High Yield Energy Sector Stocks To Increase Investment Income.

Passive Income with Properties

Investing in Real Estate

If you have some money saved up, then you may consider buying a rental property. As a secured investment that is also insured, the risk is relatively low. In the right market, you can acquire properties below the market value. The key to investing in real estate successfully is selecting the right property and location and often requires building a network of reliable professionals (ie real estate agents, contractors, inspectors, etc.) involved in whatever market you are planning to invest in. From there, you will need to manage the property and find reliable tenants, or hire a property management agency to do this for you. As the property owner, you will receive residual rental income, tax breaks and gain equity as the value of the property appreciates.


Investing in Tax Liens

Investing in tax liens are also secure and present a low risk. When a homeowner defaults on their taxes, their lien is given the highest priority as the funds used from property taxes are needed to pay for essential services like schools, infrastructure, emergency personnel, etc. Not all states offer tax lien certificates, but those that do pay guaranteed interest rates ranging from 16% to 50% per year. When tax lien certificates are sold, home owners are able to stay in their home for an extended period of time, and when they pay their taxes, the amount of the back taxes plus interest is paid to the tax lien investor. If the taxes are not paid, the investor may ultimately keep paying the taxes and acquire the property, although most homeowners, or other interested parties, will bring the taxes current before that time. Tax lien investing does require some training and knowledge to be successful. If you are interested in learning about investing in tax liens, there are some courses offered online including USTLA.

Mission and Values

Many people are struggling to manage their personal finances and this often leads to affecting their credit as well. There are many ways to spend money, however, there are just as many ways to make money as well; but only if you’re aware of them. Our mission is to increase financial literacy while creating opportunities for financial growth. Whether you are looking to develop a solid budget plan, improve your credit profile or maximize your income, we offer resources and information to meet you where you are, and help you get to where you want to be. As a premier financial hub, we are dedicated to helping our subscribers spend less time worrying about how to fund their financial goals, and more time achieving them.

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