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Where To Find A Business or Career To Give Passive Income

August 21, 2021 by Claude Fullinfaw Leave a Comment

In this article I shall cover the different sources where you can create an asset that will give you money while you sleep. When this happens you would effectively have created passive income.

Most people work a 9 to 5 job during their working life putting a side a small percentage each week into a retirement saving plan called superannuation.

Are you saving enough for retirement?

Now superannuation in Australia is compulsory for an employer to pay a certain percentage into their employee’s super fund each month. This percentage in 2021 is around 10% of your gross wages. What is interesting is most employees and self employed people rarely top up their to the full amount allowed by the Australian government which is $27,500 moving forward from July 1st 2021.

If you are someone who works a full time job earning around $60,000 a year you would most probably be paying around $6000 into the super fund through your employer. Have you thought about increasing this amount to a bigger amount so you have a bigger nest egg by the time you retire?

Why most people won’t have enough savings?

Most people cannot do this because their income is just enough for paying daily expenses. Such as rent, food and other necessities. So where do we get extra income from?

One place is getting a second job or possibly starting a small business part time on the side. So if you are planning to do something part time I suggest you think of ways that income could be passive not linear income.

I shall talk about liner income in another post soon and explain what it is. For now think of your wages as a source of linear income. Its about exchanging time for money in a nutshell.

Lets stick with passive streams of income.

Different ways to create passive or residual income:

  • Write a book
  • Become an actor and make money
  • Become a singer and get albums sold like Michael Jordan. You get paid even when you die
  • Create a business model that you don’t have to work in and get paid franchise fees each time someone joins the franchise
  • Put aside money into your super fund
  • Save money in a bank account.
  • Buy property and the rent will be passive income
  • Have shares on the stock market. The dividend income is passive income.
  • Have a Network Marketing business.
  • Have an Amazon business.

Filed Under: Life Can Be Better Tagged With: passive income, ways to create passive income

About Claude Fullinfaw

Claude Fullinfaw started in Home Business in 2003 and since then has helped numerous people achieve their dreams of working from home part time. Google+ and Twitter More Info

So many people want to work at home and make money striving to create a life whereby they don't have to say any more "I need more money today".

It has been such a ride of his life to be able to work with people from far off places such as Philippines, Indonesia, US, Canada, Malaysia and Australia in the network marketing industry.

Now if you are looking for tips and some free coaching its best to log on to his blog at https://claudefullinfaw.com/ and read up on articles he has penned down for people wanting to move away from employment and lead a financially free life such as:.

How to find the best home based business
How to know what to do in the first 8 weeks in your business
How to plan the year's goals out in 8 week slots and achieve them
How to be accountable and measure your goals
How to create massive duplication and get your team to do the same
How to use social platforms to help you move across states, countries and around the globe at no extract cost other than some part time work
And much much more.

Claude Fullinfaw
Brisbane
Queensland, Australia

+61422442029

About Claude Fullinfaw click here!

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