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The road to passive income

What is passive income?

Passive income is the type of income that you make passively, it all means that you don’t have to be all invested all the time to make some income, it also means that you have put in the work upfront and now you are reaping the fruits of your labour.

People are now realizing how much of their life is allocated to work alone. We spend considerably 50% of our life on work and work related activities, just to retire and live a few more years and go home.

People are now searching for ways to make more money to quit their daily job, more searches are even coming from ways to make money from the comfort of their homes as passive incomes

Many people have found out that the goal of life is not just to get much done but also to have less to do so you can spend your life doing the things you love and to stop working for money.

The difference between the average people and the wealthy is that the wealthy have their money work for them while the average merely work for money. The wealthy concentrate on building passive income streams and that is the sole difference between the wealthy and average people.

One of the most important goal of making money is for the freedom that comes along with being financially free. Financial freedom allows you the time to do things you love and work on yourself to become a better person rather than focusing half your life on Working for money.

When you work out of passion, you will give in your best thereby being more productive, but when you work for a living you barely give in your best, you just want to put in the hours required for your pay and leave.

How to make money in bed requires that you build multiple  passive income portfolios to sustain your lifestyle without having to apply for a daily job. These passive income channels make money for you even while you sleep.

What is passive income? Passive income are the form of income which generates  income over and over again after the initial work have been done. So passive income does not mean that you do not work at all, it all means that you put in the work upfront, then your investments keep on generating incomes for years to come.

Working your 9-5 job is an active source of income because you will have to go to your workplace, put in the time for you to get paid. You exchange your time for money while owning a rental real estate is a passive income, This property keeps on generating cash for you on a monthly basis.

Now it doesn’t mean that working a 9-5 job is a crime, hell NO, or that you can never be financially free with your daily job, hell NO. The thing is that for you to take charge of your life, you will have to take charge of your time.

Rich is measured in money but wealthy is measured in time. Do you want to be rich or wealthy? You choose.

This is actually what making money in bed actually means and it’s the best way anyone can live life. You will live a fulfilling and more valuable life.

Now you have understood the meaning of passive income, the question now is what forms of passive income does one need to build in order to make money in bed.

This post will guide you on some easy passive income streams to build in order to live financially free.

Passive income streams to make money in bed.

1. INVEST IN REAL ESTATE:

Real estate is one of the most important passive income streams to have in your portfolio. Invest in rental properties that will generate monthly passive income for you on the long run.

That is why i said earlier that working a 9-5 job is not a bad idea. As you do your daily job, i allows you to make some savings to invest in your passive portfolio.

It all boils down to having some financial plan. You don’t save for savings sake, you save to invest. Don’t allow your money to sit idly at the bank, invest it in real estate and grow your portfolio from there. With time you will find out that your rental income portfolio has increased to the point which allows you to quit your 9-5 job.

2. INVEST IN DIVIDEND STOCK

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As we have seen above being disciplined with your savings culture is the basis of your financial freedom.

Invest some of your savings in Dividend Stock. Find companies that sales shares and own some part of those companies. Buying share or stock from a company means you own some percentage of that company and as they make profits, you will be paid a percentage of that profit in form of dividends.

The best way to go at it is to find companies that are already established and you have studied them and understand how they do their business and how they make profits. Remember you are about to buy some part of the company, that’s why you should do your research about the company before buying into it.

Don’t ever invest in a company you do not understand their business, better still engage the services of a Stock Broker to gain some insight into some profitable companies you may buy into.

3. INVEST IN DIGITAL REAL ESTATE E.g. BLOGS , E-COMMERCE WEBSITE AND SOCIAL MEDIA PAGES.

I will advise anyone to own some digital assets. Here, right now is the digital boom and the internet is hungry for contents.
You need to get your voice out there, you will never know who you may be talking to, more especially for you that wants to make money in bed. Owning some digital assets will help you achieve this aim quickly.

Invest in websites, blogs, e-commerce sites, crypto currency and some social media pages.

I published a post on how to use your website to scale your business. Your blog and websites or youtube channel could be a major source of income capable of sustaining your lifestyle.

It is not enough to build a website or a blog, or to simply create some youtube channel and social media channels and expect to make money.

You will have to share valuable contents for your audience to be engaged.

4. DESIGN AND SELL DIGITAL PRODUCTS

Digital products and printables can be used as a source of income. As said earlier, We are in the digital boom, thus the need for digital products are on the rise.

Digital products like online courses, templates e.g. resume templates, cover letter templates, business profile templates, company profile templates, canva templates, business proposal templates are all in high demand now.

You can design and sell these templates on your website or on platforms like Etsy and Creative Market.

A whole lot of people are jumping into this trend now and making it big.

This is an ultimate source of passive income because you just have to design the product once, then you can sell multiple times even thousands of times.

Buyers will just have to make payment for your digital products and they can download the file instantly, no shipping is required.

I published a post recently on how you can make a living selling printables on Etsy, may be you should check the post out here.

Join this trend now and you are on your way to making money on your bed.

5. BUILD A YOUTUBE CHANNEL

A YouTube channel is a money making machine and on top of that the income generated with YouTube is 100% passive.
Youtube is the largest University ever built  and the best professors are in form of Content Creators.
Think you have some ideas to share to the world? Then creating YouTube videos might just be right for you.

You will have to create your YouTube channel first before you can publish videos which is absolutely free.

Don’t worry if you are not a professional videographer, a whole lot of people are making it big on youtube creating amature videos.

You can as well make YouTube videos with your phones camera, then do some editing using any of these video editing softwares.

You just need a 1000 subscribers and 1000 watch hours for your channel to be monetized by Google, which means passive income all the way. The more videos you create the more your chances of getting exposure.

Monetizing your YouTube channel means that Google who is the owner of YOUTUBE  pays you a monthly fee to run ads on your videos.

Are you good with cooking? Maybe you should share some recipes, some eating habits etc. Just explore your creativity with a YouTube channel and you will will thank yourself very soon.

6. BUILD YOUR OWN BUSINESS

Building your own business is one of the ways to make money on your bed. What this means is that you must have put in the required work to kick start your business and now your business is grounded that you have employees working for you.

Starting a business is not an easy task, but anyone with a business idea coupled with passion and drive will definitely be successful in business.

Do you have a business idea in your head? I encourage you to go for it. It was on your mind for a reason. Start small and scale your business.

I published a post recently on how to scale your small business with a website, you should check that post here.

As you start your business, find a way to automate it so that your business runs even in your absence.  Build a team of dedicated employees and with time your business will continue to work for you.

7. OWN A COCONUT OR PALM PLANTATION

Do you have an empty land that you don’t use, may be a family inheritance?

If you have an unused piece of land, i will advice you convert it to a coconut plantation or a palm plantation.

What’s the need of owning a piece of land and leaving it unused and untapped.

Find a way to get coconut seedlings or palm seedlings from your local gardener, then proceed to make a plantation out of your piece of land.

Depending on the size of the property, make sure you do adequate spacing between each seedling, your gardner will guide you on the best way to go about it. Just explain to him what you are trying to achieve.

You can even pay him a small fee to map out the land for you adequately.

Most palm or coconut species take about 3 to 4 years to start bearing fruits and when then start bearing fruits, you can harvest the fruits for up to 40 to 50 years to come.

The more fruits you plant, the bigger your plantation and harvest.

You can lease your plantation to companies using these products as raw materials. A whole lot of companies use coconut and palm as raw materials and they are looking for plantations to lease. These companies pay you money annually to lease and harvest your plantation.

This is a passive form of income because you just have to put in the work at the initial stage, then the income starts to flow in for 40 to 50 years to come. You can even leave it as an inheritance for your loved ones.

Here you have it, these are the ways to make money while you sleep. In all your buildings, build yourself passive income portfolios, they help you take charge of your life so that you don’t spend half your life working for someone else.

Passive incomes allows you to live life at your own terms and do the things you love and passionate about, it gives you the power to make money while you sleep.

If you have others sources of passive income, kindly share in the comments section.

Thank you for reading.

Remember sharing is caring!!!

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