The Thing You MUST Do To Become Wealty

"If you don't find a way to make money while you sleep, you will work until you die" - Warren Buffett.

Wouldn't it be better if you could spend most of your time in leisure while your pocket never empties up instead of working hours while not earning enough to even pay your monthly bills? But, how? Thanks to something known are passive income, it is certainly possible.

PASSIVE INCOME.

"Passive income is income that requires little to no effort to earn and maintain." - Wikipedia.

Passive income enables you to make your money work for you instead of you working for your money. Instead of you being the employee of your money, you become the employer of your money.

To make the term more meaningful, let's take a look at some examples of passive income:

1 . DEVELOPING AN APP

Suppose you have an app, a game or social platform or video platform or whatever it may be, you can put ads on your app and earn without having to always maintain your app or do any extreme effort, you can also charge monthly fees or make the path for your income as you see fit.

2 . WRITING BLOGS

Suppose you wrote a blog visited by a thousand users a day, and you generate around $0.001 per visit from ad revenue, you would make a dollar a day. If you create such blogs a hundred times, you have the chance to generate a hundred dollars a day.

There are also other ways you can earn from writing blogs. Use Google.

3 . WRITE AN E-BOOK

Have a story or a skill to share? Writing an e-book does little harm. You can upload your e-book on platforms such as Kindle and generate income without having to do further maintenance.

You can also hire freelancers to do your bidding by paying them a smaller amount compared to your potential income - let them write you your blog, your e-book or app, or anything.

WHY IS PASSIVE INCOME IMPORTANT TO BECOME WEALTHY?

Suppose you follow this blog and earn $5,000 dollars from your app monthly, $3,000 dollars from your blogs monthly, and $2000 dollars monthly from uploading multiple e-books on multiple platforms, you would earn $10,000 dollars per month doing little work; it would require more time and more effort to earn the same hadn't you let your money work for you but worked for money instead.

Of course, $10,000 dollars a month is not enough to turn you into a millionaire in a desirable amount of time. But, you can still make other income streams. And, eventually, a million dollars a month? Though, remember that it is easier said than done.

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