Well, from this blog you are going to get so much value that not only you will find out that in today’s date, what are the ways to create passive income. In fact, I am also going to tell you that you hear a lot of ways, but what are the sources of lasting that you will get a lifetime passive income.
How will you create, what will be the foundation, how to start, there are a lot of questions and in fact after that we have a question that we hear on the internet that we can be financially free, we can be financially independent, we can retire soon. How does all this happen?
What is the process of it? So today we will not just talk, we will not just tell you the name that doing this will create passive income. We will take you on a step by step journey. You are going to feel like I am talking about you in this blog. I am planning your financial. How can you start yourself with a lasting passive income?
We are going to talk about that and in fact I am not going to give you a general guideline. You may be a student or you are retired. It is possible that you are involved in a job or you are in your own business or you are a freelancer or self-employed. People of different categories can start in this way for creating passive income.
Now what does passive income mean? That income for which do not have to work. If you go to a job, then you work, you earn money. Today you are a student, you are aspiring that I will get such a job, but for that you will have to work. If you do not work, then you will not get money. Now see what is the benefit of passive income?
The benefit of passive income is that if you do not feel like working someday, you can do whatever you want that day and money will keep coming. So how does this money come continuously? Let’s understand the concept of passive income. I will definitely tell you the ways, but itis necessary to clear your foundation, so it will be fun.
Now see, let’s take the example of Rahul. Rahul is a video editor. Now because Rahul is a video editor, Rahul does very good video editing. Now here I can call Rahul a freelancer or self-employed. He works by himself, he does editing, he delivers work to clients, he finds clients through the internet.
So Rahul is only doing editing in the eyes of people, but what else is Rahul doing here? Rahul is bringing clients from the internet and he is satisfying these clients. He is trying to increase his client base, but if Rahul’s client base increases or he gets more work, then what will happen?
You will say that if Rahul gets more work, then Rahul will earn more money, but think from this angle that Rahul will earn more money, but Rahul will also get busier because how much he earns here will depend on how much time he gives. The more time he gives, the more he will earn. Now no one has unlimited time. We have 24 hours a day.
We have to sleep 7-8 hours, we have a lot of work, so Rahul can work 8 hours, 10 hours, 12 hours, 14 hours, but he cannot do more than that. So now Rahul finds out one thing, he finds out the concept that I need passive income. Now Rahul comes to me that how do I earn passive income?
I tell Rahul that you were doing two things. One, you were looking for clients and the other you were doing video editing. Now done thing, we can do a lot of work. We can be good at a lot of work, but we cannot say that there is no one better than us.
I tell Rahul that are there any other people who need work, who are in your circle, who do better work than you. Rahul will say yes, I know my two friends, they do not have work now and they do better editing than me.
Nowhere Rahul’s two friends do better editing than him. I ask Rahul one more question, if you want more people, editors, will you get them? Rahul will say, sir, we will get as many as we want, but the question here is that I do not have so much work or there is not so much work in the market. I tell Rahul that it is not like that.
Look carefully, how much effort do you put on bringing these clients today? Rahul says that my maximum work is done in editing. I have two or four clients; my freelancing is going well with them. I say if instead of four, eight clients come, it will be great. I said how much time did you take to find clients? Rahul says not much.
Now I tell Rahul, now I will tell you one thing, I tell Rahul that you go and register on Fiverr. You register on Fiverr; you register on Freelance.com. I tell him more such sites where he can register as a freelancer. Now Rahul gets help from this website. Now what is Rahul’s general tendency? When I get more work, I will work more and earn more money.
But now I tell Rahul, whatever work you have, you will not do. Rahul will say, then how will I earn? I tell Rahul that you have two friends in the starting. Give half work to those two friends and as soon as you give them work, decide from them. Don’t tell them what money you are getting for work. Talk to them that they will work with you per project.
Suppose there is a rating of one video, then they will work according to the video or they want to take the salary of the month. Now I tell Rahul that one friend says that I will work per project. One friend says that will take salary. No problem. Now Rahul says that it is important for me to get continuous work because my friend has asked for a salary of 25000.
I say no problem. What have you done now? You have just started creating a business. Now see, you have given work, you are free. You just have to check their work and then you have to deliver it to the client. Rahul does the starting project in the same way and Rahul was absolutely free, but he did not get much money.
He did not earn much money. If he had worked by himself, all his money would have been saved. He would have earned it himself, but he did not do that. He did not do that on my saying. Now I told him to get more clients. Try to rank your profile on Fiverr, on Freelance. Your rating should be good here.
Rahul starts getting more work. Now Rahul gets so much work that these two people are not able to do it. So much work has come that both are occupied. There is more work after that. Now I do it. Now I do more work. I say no to Rahul. Now you have more people who you were saying that they can come.
You can put them on the internet from your old institute, from your circle, you can put internships. If people are applying for jobs from you, then you can hire from there and you can recruit from there. So I tell Rahul to recruit new people. Rahul recruits more people. These people also get sufficient work.
Now slowly, Rahul was working alone and earning. All these people are working. All of them are earning and Rahul is also earning and earning more than before and we will call it passive income from business.
This is Rahul’s business. Now you have understood the first concept here. What is the first concept of creating passive income? It is that you earn money when people work for you. Now I will tell you three concepts. Now we have understood the first concept. When people work for you, when people work for you, then you earn money.
Now Rahul gets so much work that people have to hire him to manage the work and to manage these clients. This Isa good thing. So Rahul started as an editor, but now Rahul has created his production house.
So now you understood the first concept that when people work for you, you earn money. Now this Rahul’s example can be for editing. It is valid everywhere. If you teach yourself and give tuition, then you can hire teachers who teach better than you and in this way you can start your coaching center.
One coaching center has started, after that you can do multiple and this was the first business of my life. This was the first business from where I started. So you must have understood the first step. I hope now the second steps when the system works for you. Now we are going one step up here. System works for you.
Now see, there is a challenge with people. People of Rahul, who have hired him, sometimes they take a leave, sometimes they do something, ultimately he manages it. So if you want, if you are good in something, you can guide people, then you can also create contention YouTube.
So now said I will tell you the ways, but you have to understand the ways through the process. So this is one thing. In this, we do more enhancement. What can be the enhancement level2 when the system works for you, that is that you made a video. Many people review mobile phones.
Now review mobile phones. Video is running, from the video, ad revenues just Xu’s bidding. So what I was doing before is, after pitching will come. Plus, he told the mobile phone which is the best phone under 20000 and here directed it to Amazon.com or Amazon.in.
Now here his affiliate link was there. Heave the example of Amazon. It can be Flipkart or any website. So here because the affiliate link was there, now a person is earning in two ways from his system. He is earning from in, system and what will youth affiliate also.
So this is the way to earn money from thecal this income? You don’t have to work for this income, you are getting money then also. So this is called passive income. But passive income when the system works for you. When the system works for you.
I will give you one more example. Suppose you do affiliate marketing for financial products. For example, you recommend someone’s Demit account. You know that you can go to Angel one and open your Demit account for free. You can earn money by referring there. Now what you did, you opened your account.
You made a video on the internet that how you can earn money by doing affiliate marketing through Angeline and then you will get money from the revenue of this video. The ad will run; money will come up. Plus, what you did, you are getting an affiliate. More people are opening accounts. So how can they earn money? You can earn money from this too.
Now see there are a lot of people. In fact, I have also created many videos that how youkan earn money online. I guided you. I gave you valuable information that you needed. Now see if the ad runs on that video, then I am also making money. Although if there is an affiliate in it, Theni am also getting money from it.
So here are very genuine ways,100% legit ways, by which you can create passive income for yourself. Now, like we talked about Angel one. You can go and open your account there. You can also earn money by referring and similarly you can create video by which you can also get an affiliate.
So see what I am doing, there is no problem in telling him because if you can help someone else in earning money in a legit way and you can also earn money from it, then you should do it.
What did I tell you? I told you level 2 when system works for you. The first was when people work for you. Now welcome here at level 3. Now this level 3 is very amazing. Let’s understand this. What is level 3? When money works for you. Now money works for you. Now see Rahul earned money.
After that, he put his profile on hands, he started getting more projects. Now what did he do? If someone wants work, then how can he make animated videos from us. He made videos, put ads on them, made his system. Clients are coming regularly. Money has started coming. So when there is money, the question is how to grow this money and I will tell you in clear words how to double this money.
Now here I am not talking about doubling money in 21 days. Double money in 25 days. Double money in 25 days. That you come and invest in a scheme that money is doubling in21 days. There is nothing like that. Understand the concept.
The concept is that we have to double the money. How will it be double? There is a formula for it. When you invest money somewhere, then how many returns are you getting? If you know this, you know the average return. For example, you invested money and you get 1% return per month. You get 12%return per year.
It can be interest. Somehow you invested in stocks. You can do SIP in mutual funds. You invested in real estate. I need to know how much is my average return. If you have done FD, then you know its average return. If you have done FD of 7% 8% you already know it.
So I say if you are investing anywhere less than 12%, where you are getting less than 12% return, then you do not know how to grow money. But here I will tell you. What is the concept here to double the money? You should know a formula that whatever returns you are getting, you will divide it by 72, which we call the rule of 72.
So what does the rule of 72 say? Whatever returns you are getting, for example, I say you are getting less than 12%, then you do not know how to grow money. It Isa hard fact, but you have to know. If you get 12% minimum, that is, this is the baseline, you have to get this much, it is very good to get more than this.
So if you get 12%, then you double your money in 6 years. If your money is doubling in 6 years, this is also bare minimum. It is happening in 6 years, you are at par, but if it continues, then compounding will show you different tricks because if you have a capital of 50 lakhs for starting, calculate it according to yourself that is 50,000.
If you have 50 lakhs, then if your money doubles, then 50 lakhs are 1crore, 1 crore is 2 crores, 2 crores are 4 crores and then 8, 16,32, 64 and there is no limit, but there is a gap of 6 years. 6 years, 6 years, 6 years, 6 years,6 years, so you are looking at how many 6 years of multiple cycles to reach from50 lakhs to 16 crores.
It will depend on how quickly you are doubling the money and becoming rich. They are getting rich because they know this formula. Poor people do not know anything.
If they are earning25,000, then they spend 25,000 and do not save 5000 and they do not know how to double the money, but if you can save 5000 and if you know how to double your money, you are saving 60,000 rupees per year according to 5000 and if you invest it according to SIP, then you know how to grow.
I have talked about it many times, so you can get crores of rupees over the years. It is important to understand this concept. Itis very important to make money from money. Now, I said for example, now you can do Sip in mutual funds or you can invest in stocks. If you have a lot of money, then investing real estate.
There are many people who do not like lending, but it is okay. Banks are earning money by lending. Whether you lend, your money should grow. It is an art to make money from money and if you understand it, you can make a lot of money over the years. You will be very rich if you understand these three concepts.
There are only three concepts to earn passive income. Money can come from money. We have invested in real estate. We’ve given the property in rent. When rent is coming on the property, then you are not working for rent, but for this, you should have real estate first. People say that you should get rental income.
This is a very far step. The person has not reached there yet. To reach there, he will have to start from the first step and you can start directly from the second step. But to make money from money, money should be there. The second thing I told you is that the system should work for you and the first thing I told you is that people should work for you.
Now, an important concept comes after this. People say that we have to retire. What does it mean to retire? Retirement does not mean that you do not work. In fact, you can say that I am also retired. Today I work not for money because I enjoy it.
Even if I do network, my life will go well. Now you have to understand that if you want to retire, then there is a formula for retirement that when we can announce our retirement. Retirement means that you do not stress about money. Whatever expense we have to have, let it be and whatever we want to do, we can enjoy it.
If you want to traveling 5 stars, you want to travel the world, then your life should not be affected. Know how much money you will need for retirement, there is a formula for it. Before that, you have to come to a formula. What is that? So here you have to understand that today you have to spend your monthly expense.
It may be 50,000. You write your monthly expense here. Now I have taken 50,000and it may be 5,000, 5,00,000, 1,00,000, 20,000, whatever you write. Now I have taken an example that you have a monthly expense of 50,000. If you have an expense of 50,000, then I ask a question, when do you want to retire?
You will say that I am 28 years old and I want to retire in 40 years. For example, after 12 years you say that I want retirement. So now I will ask you a question. Today you have a monthly expense of 50,000. After 12years, how much will be your monthly expense? You will say that it may be 50, 60, 70. It does not happen.
When you understood the rule of 72, then here you have to understand that how inflation is increasing. We call it inflation. The prices of things are expensive every year. Now the revision in GST, after that everything has become expensive.
Many people have had an effect on their pocket. So here you have to understand that inflation is an average too. If it is increasing by 6%, then according to 72, in 12 years, your expense will also double. So if you want to retire after 12 years, then after 12years your monthly expense will not be 50, 60,000, it will be 1 lakh rupees.
So now let ‘stalk, basically what can you do in today’s rate from today? You can do affiliate marketing. In affiliate marketing, you can go to Amazon and make a review of many products, you can make videos and you can recommend in it.
Like I took the example of a mobile phone, you can take laptop, you can take earphones, post. Can buy garments. You can affiliate with whatever you are interested in.
Number one, second, many people do drop shipping in today’s date. You can go to Shopify and make your website and in fact, you can build passive income by drop shipping. So here your system will earn your money. Third, you can start selling on e-commerce. You can earn money by selling on Amazon, Flipkart.
There There are many things. If you are interested in fashion, you are only one difference between selling in drop shipping and e-commerce that if you want to sell in e-commerce, then the products will be yours. You will require little investment. You do not need investment in drop shipping. So it is a difference. Fourth, if you want, youkan launches your e-book on Kindle.
Fifth, you can launch your courses. If you are good at something, you can do it on Udemy, you can do it on Coursera. There are many free platforms online on which you can sell your course. You can also build system for that. Now finally, what is the most important thing that you build your business.
When the business mindset comes, people work for you. Then second, I told you that the system works for you and third money works for you. You make passive income. So the concepts clear, the foundations clear. I have told you some latest ways by which you can earn passive income regularly.