Monday, March 5, 2007

Passive Income (Tune in for more money)

Sounds interesting… well it is, I read this a few months ago… The author is a best selling geek and money trainer… way too snobby when he talks about the poor… and money driven in every sense… But you’ll find some useful information here and there; I’ll summarize as much as I can in a couple of posts, I will also add statements that have nothing to do with the book...

The Concept of Multiple and Diverse Passive Income generators, it sounds complicated but its actually quite simple, the idea is to have your money work hard for you instead of working hard for the money, so invest with minimum effort and supervision. This can be done in a number of ways:


1) Venturing with a reliable party (friends and family will probably be the best option since mutual trust is the basis for any good investment). You will be amazed of how many great ideas are looking for capital funding; even small amounts or monthly installments can mean a lot to business startups. Again the opportunities should not require your time and effort. (e.g. if someone is buying an apartment, land, car to rent in nearby future jump in help and get something in return. A usual arrangement will be providing part of the funding capital in return of a percentage of the income). No matter how much you trust each other, both parties should go to an attorney and document the agreement.

2) Real Estate investment, big or small doesn’t matter. It’s more likely that you’re reading these words because you can’t afford the big investment so check out that piece of land with installments of less than a hundred or so. Whatever you can afford, jump in and Invest in real estate, how many times did you hear that story about the land in the middle of nowhere your parents, bought (or didn’t) and now its worth 20 times its value or more before a few years. The book speaks of the same stories in the U.S.

3) Online Ads from websites and blogs can be rewarding if you have the right amount of traffic. Google Adsense among others pay for clicks on their Ads to the website owner. I’ll have to go deeper in online money making in another post.

4) Investing in well-established companies stock options. I have to add this on avoiding banks, companies that produce alcohol, cigarettes and anything that destroys the fabric of our values… Have a positive impact on your society, money isn’t everything no matter what the author of this book thinks, interest rates or (USURY) is sucking the living blood out of people. And at the end of the day you don’t want money that is “prohibited in Islam, Christianity and Judaism”. Don’t contribute to people’s tragedies (including yours, this life or the next), so take responsibility for your actions, you may choose to ignore the results of your financial decisions but that doesn’t mean that people will suffer any less, you only close your eyes when you release the trigger, those who get hurt suffer the same injury. Open your eyes.

2 comments:

Anonymous said...

again, very useful notes :)I liked the google idea

M Kilany said...

Thanks... I'll post the rest tommorow...