There are many passive income sources that can make you very wealthy.
However, in the age of the Internet, many people are lead to believe that there are passive income sources that can be achieved with virtually no investment or time commitment.
We have all seen the advertisement that says "You will earn $5,000 in your first week. No prior experience necessary." These advertisements appeal to greed and almost never work.
These tips shall put your expectations surrounding passive income sources in perspective:
There is a trade off for a passive income: You must give money, time or have a lot of prior experience to develop a passive income source.
Nobody is going to give you something for nothing.
Results rarely match the marketing materials: When you look at marketing material, you must understand that your results will rarely match those materials. Most reputable companies do not lie in their marketing materials, but the results that you can expect to achieve will probably take longer or be less than what is advertised.
You may get lucky and beat the expected results but you will be better off if you plan that it will take you longer to achieve the advertised results.
Be willing to wait 3 to 5 years: People want results now and are unwilling to wait. Imagine if you invested in rental properties or started a Network Marketing business three years ago.
If you followed the program exactly as it was designed, you would probably have enough passive income to pay for your desired lifestyle. The sad truth is very few people are willing to wait that long.
However, in the age of the Internet, many people are lead to believe that there are passive income sources that can be achieved with virtually no investment or time commitment.
We have all seen the advertisement that says "You will earn $5,000 in your first week. No prior experience necessary." These advertisements appeal to greed and almost never work.
These tips shall put your expectations surrounding passive income sources in perspective:
There is a trade off for a passive income: You must give money, time or have a lot of prior experience to develop a passive income source.
Nobody is going to give you something for nothing.
Results rarely match the marketing materials: When you look at marketing material, you must understand that your results will rarely match those materials. Most reputable companies do not lie in their marketing materials, but the results that you can expect to achieve will probably take longer or be less than what is advertised.
You may get lucky and beat the expected results but you will be better off if you plan that it will take you longer to achieve the advertised results.
Be willing to wait 3 to 5 years: People want results now and are unwilling to wait. Imagine if you invested in rental properties or started a Network Marketing business three years ago.
If you followed the program exactly as it was designed, you would probably have enough passive income to pay for your desired lifestyle. The sad truth is very few people are willing to wait that long.
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