Opportunity Secrets to know before setting up a passive income stream

Creating a steady Passive income stream, especially an online one, is one of the most profitable and rewarding ways of making money today. It is not only a very lucrative way for people to earn from their side gigs but also a prime opportunity for entrepreneurs to turn these passion into new businesses opportunities.

If you disagree, let me first point you towards www.smartpassiveincome.com. Pat Flynn who runs that site is always full of great info on escaping the traditional 9 to 5 jobs and gaining financial freedom. He promotes ideas and great content on how to start a small business and how to generate passive income. He was laid off from his job in 2008 economic crash and thus learned the value of passive income the hard way.

But you should not let the idea of earning passive income make you think of this as no work and free money. Setting up a passive income stream is often hard work with no or very less income at early stages, but once you get it going and do it right, it just gets natural and more comfortable each day.

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Early Retirement in India

How much do I need to Retire? That is undoubtedly the million-dollar-question (by the time I will retire it would be billion-dollar-question, billion with a B). It is the hottest topic in personal finance blogs these days. Yet, another way I ask myself this question is, “How little do I need each month to live after I retire?”  This slight variation in how I see the issue that changes everything I need to do before I retire. Also, it does also give me much more variate answer than just investing up in mutual funds. 🙂

If you have recently visited any news article with young couples, or individuals claiming early retirement, and are not sure how do they do that, read the above statement again.

Still, if it does not make sense, let us get into details,

“Earlier (or at least for the previous generation), retiring at the age of 60 ( or else what government norms were set for) was considered a reasonable statement. This didn’t come from a financial standpoint but from the health perspective. Retirement was not defined by how much you needed, but could you work any longer.  People were easily able to save enough by that age, and the only reason to retire for them was to look after their health.”

But not now. People have been going out for retirement at much younger ages, say 50-45 or even in their 30’s.
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8 Books to Begin your Financial Literacy

 

 

You don’t just need money to build an empire. Even if one has millions, in cash or bank account, whats’ left is a RIGHT place to invest it, at a RIGHT time along with RIGHT insurance and with the RIGHT strategy. And all these RIGHT’s only come from great knowledge and learning (usually from financial education books). Many business books have built an outstanding reputation over the years by providing value and mind-opening education to its readers.

Here we have collected some of the best financial education books for beginners to tune up their financial IQ and shape their lives to inspire themselves for greater financial success.

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