Mary King's eNews - Passive Income
September 2007
Hello,
I want to talk about the importance of building streams of 'passive income'. Those who attended the Rich is Better - Wealth for Women seminar will already understand much about passive income. Passive income is money you receive without working. When your passive income exceeds your expenses you become financially free. Without passive income you can never be free. If you have to work to get money you're not free.
What are forms of passive income?
1. Money that works for you, as in shares, bonds, managed funds, owning mortgages or other assets that appreciate and that you can sell.
2. Business that works for you, as in rental real estate, royalties, licensing, coin-operated machines, franchising your business, systematising any business so it works without you.
3. Network marketing - after you put in the work at the start you receive residual income (another form of passive income) from the business created by the people on your 'down-lines'.
Many people find it hard to create passive income. One of the main reasons is the good old work ethic. We believe we have to work to earn money. We were told to 'get a job'. Most of us learned nothing useful at school about income and managing money; they certainly taught us nothing about passive income. So we learned nothing about how to organise ourselves to set up passive income structures. Because we weren't taught about it, we don't think about it and we don't focus on making it happen.
When we think about structuring our lives for future passive income streams we can work in the present to create passive income for the future with the goal of financial freedom.
To learn more about passive income and what unconscious obstacles are between your money habits today and the money habits that create financial freedom, consider enrolling in the Rich is Better - Wealth for Women Workshop. The next one in Melbourne is on Saturday 17th & Sunday 18th November.
Have a look at the web site to read what others have said about the workshop and to enroll.
Best wishes for your financial freedom,
Mary King
Rich is Better - Wealth for Women
Phone 03 9882 1886
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