Friday, June 09, 2006


So You Want to Be Rich (Part Four)

Over the last few days we’ve learned that you can’t just go out and work hard to get rich. You need to work smart too. You do this by putting effort into projects that will earn you passive-leveraged income.

The downside is that this kind of money is tricky to make because you’ll put in a lot of work up front before you ever make a dime. Hopefully, you’ve been thinking “What can I do today to start building passive income so I can get rich?”

As I alluded to, there are a lot of good opportunities out there. Here are a few to hopefully get your mind thinking:

Internet Businesses – This is single best place where you can start building a passive income stream. You can start looking online right now for business ideas. Many of them don’t require hardly any money to start, but they do take a lot of work. My only tip for you is to stay away from anything that sounds too good to be true.

Real-Estate – Buy a house and rent it out. Yes, those late night infomercials are on to something. Again, expect to do a lot of work. It’s not easy money like the late-night snake oil salesmen like to tell you.

Stocks – This one will take money. But if you start small you can build a fortune. Here you’re leveraging money.

Franchises – Again, this one will take some money, but franchises already have a proven system in place. You’ll most likely work like a dog for a few years before your business gets off the ground. Then you’ll begin to enjoy the passive income it can bring.

I’m sure there are more, but these come to mind pretty quickly.

The most important thing is that start looking. Keep your eyes open for opportunities; they are everywhere.

There is one final principle that you’ll need to become rich. Without it, you’ll just make a lot of money and I’ll talk about that in my next article. Please read the next article. It will make the single biggest difference in your life if everything else fails.

Go Back and read Part Three or continue reading Part Five

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