Irrespective of any profession, location etc one can be rich and wealthy at young age.I may not directly answering the way to become rich but I’ve something that might help you to understand to become rich. So read briefly, It’s a term used to define the type of income which fills up your bank account even if you’re not working. It can be in any form: Dividend from Equity Rent from Real Estate Capital Appreciation from Gold, Silver, Shares. Affiliation income from a website/blog. Sale of your book Et cetera (lists never end) Have you noticed something common in all above sources of income? Alright, take the time to figure it out. They all keep generating income for you even if you’re enjoying your holidays in Las Vegas or sleeping in your coach or bathing, eating, dancing, running or whatever, freaky activities you do. Might be somebody buying your book on the other globe while you’re sleeping. Or might be the stock you purchased announced the dividend while you’re having sex. Or might be somebody is buying a product on your blog while you’re enjoying your weekend watching Sultan movie. What I want to say is that passive income is something which will keep generating income for you like a cash generating machine even if you’re doing nothing.
- Starting Your Blog
- Investing In The Stock Market
- Writing An E-Book
- Selling Products On eBay
- Opening Your Own Online Store
But creating that source is not an easy task. You had to work your ass hard to make that machine. “So, why the heck are you’re wasting your time making the blog all day?” people ask me.
The only reason is it’s a source of passive income for me. Of course, not now but in future. Initially, I would have to work hard to make that source of passive income and once it is done, cash will keep depositing in the bank account for doing nothing or may be, little.
I’m not here to tell you how to make money blogging. There are many masters out on the web to teach you that. Just have a Google search.
Starting Your Blog (Website)
Do I sound too technical? Well! For your information I would like to say that you do not have to possess website designing knowledge to start a blog. Any person can start a blog (a blog is a website) because it is a as easy as starting an email account. Now you might be thinking that it must take huge money to start a blog. Absolutely no. It takes around Rs 100/- to get a domain name (your website’s name e.g.xyz.com) and around Rs 200/- to host your website. You pay for your domain name annually (Rs 100/-) and you pay monthly for your hosting fees (Rs 200/-). The big deal is that while you pay just Rs 200/- per month for maintaining your site, you may end up earning thousands of dollars every month form your site.
Investing In The Stock Market
Have you heard about Rakesh JhunJhunWala? If not then let me have the privilege to introduce him to you. Rakesh JhunJhunWala is the billionaire stock investor from India. His investing style is based on Warren Buffett’s ( The multi-billionaire investor) style of investing. For all those who say that it takes a million dollars to make a million dollar, I would suggest them to read the stories of these two people who turned their thousands to billions.
Writing An E-Book
Amanda Hocking was a poor dish washer. She liked writing novels and thus did write a few ones. However, the world is too cruel and therefore no publisher was willing to publish her novels. Hence, she decided to self publish her novels at amazon.com. Now, she is a millionaire. You too can become a millionaire writing and selling ebooks. You too join the league of multi-millionaire investors if you can maintain the discipline they maintained. You can start with just a few thousand rupees and then end up hoarding lakhs in a few years. However, I would suggest you to read books that describe Warren Buffet’s style of investing. He is wisest living investor on earth.
Selling Products On eBay
Many people are earning their daily bread at eBay.in. You too can join the league and earn income from ebay. If you are creative and like things like : designing T-shirts making soft toys making cute gifts, etc. then you can open your shop at ebay.in. If you are not creative in these matters, no problem, you can do what most retailers do : Purchasing certain items at wholesale price and then listing them at eBay at a higher price. The difference will belong to you and the difference will be enough to make you rich. There is one more method. If you find someone around you, who is creative at arts and crafts, but doesn’t know how to sell his/her products then you can buy the products from him/her and then sell them at higher price at eBay.in.
Opening Your Own Online Store
The 4th advice was about making money through eBay.in, the 5th advice is to kick out the broker (eBay) and start your own online store. It may look hard but you just have to follow the following steps: Start a website List the products you want to sell. ( It is not necessary for you to manufacture the products. You can buy products at wholesale price and then sell them at a higher price) Use ccavenue.com to receive the payments Use a courier service to deliver the products
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