Passive Income: How To Make $700 Per Day

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Around 4K years ago, in a kingdom in ancient Mesopotamia. There was a guy named Arkad who was poor like he could barely put food on the table. To escape poverty, he worked hard; however, when he received the payment for his service, he lived very frugally and lent most of his income to a shield maker, who then paid interest on the loan. Instead of spending that interest to move to a bigger place, he kept living frugally, and lent that interest to another shield maker, thus growing his wealth even more. After repeating this process for years, his wealth grew so big that he did not have to work again since his money was working for him, so he ended up the richest man in Babylon.
Of course, you cant lend money to a shield maker because that shield maker probably has a credit card or would rather go to a bank than look for you. But that story illustrates the power of passive income. Nothing is more powerful than when your money makes more money. It saves your time, effort and provides you with financial support to pay all of your bills, but very few people achieve that milestone where their money works for them and not the other way around.
Chasing money is not a bad idea, but chasing money your entire life isn't also a great idea because you need time for other things in your life. That’s why I try my best to create as many sources of income as possible. But most importantly, make them as efficient as possible.
The most famous passive income source is rental income. You have a property that's rented out, and the tenant keeps sending you a check every month. Since real estate is not cheap, that check could be big enough to pay all of your bills.
But what if you don't have the money to buy real estate? Of course, you don't need hundreds of thousands of dollars to buy a property. All that you need is enough for the downpayment. The rest will be covered by your tenant. Even if the property doesn't generate income in the first year or so, it will in the future once rent prices rise year after year.
But real estate isn't the only place where you can build passive income. In the 21, there are far more tools than most people know, so in this video, I want to share with you some real passive income ideas that you can implement right now! And most importantly, you don't need a lot of money to start!

#investing #Stockmarket #money

Видео Passive Income: How To Make $700 Per Day канала Proactive Thinker