I live by two sayings when it comes to making money
1 – Money is just an idea, people who lack money simply lack ideas.
2 – If you are willing enough, you will always find a way to make something happen
These two phrases greatly helped my investment career. No matter how well you plan for something, you should expect that you will have some challenges along the way. To get ahead in life you will need to overcome challenges.
Well, now that I got that boring part out of the way, let’s talk about the fun part.
Investing for passive income can be a lot of fun and you can build a lot of wealth if you do it right. There are methods to the madness so to speak, but luckily they are straightforward.
1) Read Read Read – Learn first, earn later.
Many fail because they get into investing while having unrealistic expectations about making money. Don’t get me wrong, it is possible to build massive wealth with little or no effort, but that happens after you get some knowledge on a wealth building strategy that suits you.
Leaping into investing without a parachute (knowledge) is a guaranteed way to failure, AVOID AT ALL COSTS!
2) When choosing an investment strategy, it should be based on more than just the promise of making a lot of money.
Try to pick investment opportunities that suit your personality. As an example if you are the reserved type you should avoid choosing sales type strategies. If you are an introvert, then those types of opportunities would NOT be great for you.
Another example, if you are a detail oriented person that likes to see data, then maybe there is an opportunity for you in stock options trading, or real estate investing.
Take a note of your strengths and weaknesses, then choose a strategy that gels with your strengths. I chose options trading and internet marketing based on what I knew I was good at.
3) Be Open to things that seem novel
At the end of the day, the only thing stopping you is you. There are countless ways to make money. Once you find that strategy that works for you, push forward and don’t let the doubters get to you. If you have a strong passion or desire to do something, find a way to make it happen.
I will bet my monthly earnings (a lot of money) that if you asked all the millionaires if someone at one time told them they would fail, ALL of them would say yes.
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