Passive Income Empire
14 Feb
I think it’s time to talk about my ultimate goal with making money online. I want to make a decent income; one that would supplement the full-time income my husband will have, but also one that could get us through if he lost his job. However, there’s a catch to that: I don’t want to spend my time working.
How do I make money online if I’m not actually working? Simple. I plan to get most of my income from setting up a passive income stream – also known as residual income. I call it my passive income empire, and I am working hard now at it so that I don’t have to work later.
What is passive income? Basically, it’s money that comes in on a regular basis that you don’t have to put in a bunch of work for. One example is a rental property. You rent your apartment out to somebody, and they pay rent month after month, with very little effort on your part. Awesome!
I plan to do that, only online. How am I accomplishing that? Right now, my main plan is to create niche sites, otherwise known as niche blogging, which I learned how to do through Keyword Academy. Hands down they are the most awesome internet marketing tool I have ever found. I have learned more there than anywhere else. You can even check out their services for for just $1. I tried it in October and I’m hooked! I’ll update on my progress periodically.
For a while I was writing for eHow (Not linking to them because I don’t recommend them anymore, but you can google). Basically, you write articles there, and they earn adsense money. eHow gives you part of the revenue the article earns, so each month I get a small check for them, even though the last article I wrote for them was almost a year ago. I’ve heard bad things about them lately, though, so I haven’t written there in a while.
I’m also currently writing for Suite101, which is decent so far. I’m learning the ropes there, though, so my earnings are lower than I’d like them to be. I’m also considering writing hubpages. I’ve heard good things about them, but I haven’t given it a try. Infobarrel is another one that may have potential. I’m going to give them a shot one of these days. And as always, I’ll let you know what I find out there.
In my sidebar I’ve got my first target income goal and my monthly progress. I know it doesn’t look like much, but I expect my earnings to start climbing as the months go on. Come back often to check out the stats!
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